The precision farming market would grow at a CAGR of 14.13% over the predicted time frame. The market is expected to increase in value from US$ 9.31 Bn in 2022 to US$ 26.8 Bn in 2030.
Key Takeaways:
- By offering, the North America precision farming market was valued at USD 3.4 billion in 2021 with a CAGR of 11.5% from 2022 to 2030.
- Asia Pacific region is projected to grow at a CAGR of 15.5% from 2022 to 2030.
- North America accounted market share of around 46% in 2021.
- Europe region garnered revenue share of around 24% in 2021.
- The weather tracking and forecasting application segment is growing at a CAGR of 17.8% over the forecast period.
- By offerings, hardware segment accounted market share of around 69% in 2021 and the software segment is predicted to grow at a CAGR of 15.8%.
- By application, the yield monitoring segment garnered market share of 45% in 2021
- By technology, remote sensing and variable rate segment accounted 58% market share in 2021.
The on precision farming Market, which provides a business strategy, research & development activities, concise outline of the market valuation, valuable insights pertaining to market share, size, supply chain analysis, competitive landscape and regional proliferation of this industry.
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Report Scope of the Precision Farming Market
Report Coverage | Details |
Market Size by 2030 | USD 26.8 Billion |
Growth Rate from 2022 to 2030 | CAGR of 14.13% |
North America Market Share in 2021 | 46% |
Yield Monitoring Segment Market Share in 2021 | 45% |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Segments Covered | Offering, Application, Technology, Geography |
A recent report provides crucial insights along with application based and forecast information in the Global Precision farming Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of this market. This study also provides a detailed overview of the opportunities along with the current trends observed in the Precision farming market.
A quantitative analysis of the industry is compiled for a period of 10 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period.
Companies and Manufacturers Covered
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight. These insights were thoroughly analysed and prime business strategies and products that offer high revenue generation capacities were identified. Key players of the global Precision farming market are included as given below:
Precision farming Market Key Players
- AG DNA
- AG Junction
- AG Leader Technology
- AGCO Corporation
- Agribotix
- Bayer CropScience AG
- Case IH Agriculture
- ClearAg Operations
- Conservis Corporation
- Deere & Company
Market Segments
By Offering
- Hardware
- Automation and Control Systems
- Displays
- Guidance and Steering Systems
- GPS/GNSS Devices
- Drones/UAVs
- Irrigation controllers
- Handheld Mobile Devices/Handheld Computers
- Flow And Application Control Devices
- Others
- Sensing and Monitoring Devices
- Yield Monitors
- Soil Sensors
- Moisture Sensors
- Temperature Sensors
- Nutrient Sensors
- Water Sensors
- Climate Sensors
- Software
- Local/Web-Based
- Cloud-Based
- Services
- System Integration and Consulting Services
- Managed Services
- Connectivity Services
- Assisted Professional Services
- Maintenance and Support Services
- Automation and Control Systems
By Application
- Yield Monitoring
- Crop Scouting
- Field Mapping
- Variable Rate Application
- Precision Irrigation
- Precision Seeding
- Precision Fertilization
- Nitrogen VRA
- Phosphorous VRA
- Lime VRA
- Pesticide VRA
- Weather Tracking and Forecasting
- Inventory Management
- Farm Labor Management
- Financial Management
- Others
By Technology
- Precision Farming Guidance System
- Remote Sensing Precision Farming
- Variable-Rate Technology Precision Farming
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Report Objectives
- To define, describe, and forecast the global precision farming market based on product, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific and the Rest of the World (RoW)2
- To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies3
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, and partnerships in the precision farming market
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Precision Farming Market
5.1. COVID-19 Landscape: Precision Farming Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Precision Farming Market, By Offering
8.1. Precision Farming Market, by Offering, 2022-2030
8.1.1 Hardware
8.1.1.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Precision Farming Market, By Application
9.1. Precision Farming Market, by Application, 2022-2030
9.1.1. Yield Monitoring
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Crop Scouting
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Field Mapping
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Variable Rate Application
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Weather Tracking and Forecasting
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Inventory Management
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Farm Labor Management
9.1.7.1. Market Revenue and Forecast (2017-2030)
9.1.8. Financial Management
9.1.8.1. Market Revenue and Forecast (2017-2030)
9.1.9. Others
9.1.9.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Precision Farming Market, By Technology
10.1. Precision Farming Market, by Technology, 2022-2030
10.1.1. Precision Farming Guidance System
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Remote Sensing Precision Farming
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Variable-Rate Technology Precision Farming
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Precision Farming Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Offering (2017-2030)
11.1.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.3. Market Revenue and Forecast, by Technology (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Technology (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Offering (2017-2030)
11.2.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.3. Market Revenue and Forecast, by Technology (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Technology (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Offering (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Technology (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Offering (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Technology (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Offering (2017-2030)
11.3.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.3. Market Revenue and Forecast, by Technology (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Technology (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Offering (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Technology (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Offering (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Technology (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Technology (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Offering (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Technology (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Offering (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Technology (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.3. Market Revenue and Forecast, by Technology (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Offering (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Technology (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Offering (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Technology (2017-2030)
Chapter 12. Company Profiles
12.1. AG DNA
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. AG Junction
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. AG Leader Technology
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. AGCO Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Agribotix
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Bayer CropScience AG
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Case IH Agriculture
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. ClearAg Operations
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Conservis Corporation
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Deere & Company
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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