News

Precision tech industry expects growth

Precision technology dealers expect to see some growth this year despite the slumping farm economy.

A study by Precision Farming Dealer found 40 percent of respondents are confident they’ll be able to increase revenue during the current sales year. The study also reported a slight decline in the number of dealers expecting a drop in revenue.

After three year of declines, sales of hardware saw a slight uptick, mostly in complimentary equipment of GPS and auto-steer systems as well as niche precision ag technology.

While dealers reported a slight dip in precision service and support revenue, this area is expected to grow with many companies adding staff agronomists. Dealers expect planting and seeding control systems to be the largest revenue source over the next five years.