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Manoj Kumar is a postgraduate in Life Sciences with over seven years of dedicated experience in the fields of anima.....
Precision Farming Market: By Component, By Application, By Technology and Geography
Precision Farming Market size was valued at US$ 7.6 billion in 2022 and is expected to grow at a CAGR of 11.7% from 2023-2029. Precision farming is an agricultural management approach that enhances crop sustainability by observing, measuring, and adapting to temporal and geographical variability. It helps in the cultivation of both crops and cattle. Precision farming frequently makes use of technology to automate agricultural processes, enhancing their performance, diagnosis, and decision-making. As the name suggests, precision farming involves using an accurate and appropriate amount of inputs, such as water, fertilizer, insecticides, etc., to crops at the appropriate time to maximize yields and improve production. By raising yields, precision farming strategies may significantly cut down the amount of nutrients and other crop inputs required.
The precision farming market is surging owing to acquisitions and definitive agreements to strengthen its position in the market. The market report gives a comprehensive outlook on precision farming across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report gives historical, current, and future market sizes (US$ Mn) based on products and services, applications, sectors, and regions. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition.
Study Period
2024-2030Base Year
2023CAGR
11.7%Largest Market
North AmericaFastest Growing Market
Europe
owing to rising pressure on global food supply due to increase in growing global population and substantial cost cutting made possible by the precision farming coupled with the government support and initiatives for the adoption of modern agricultural technologies are the major factors driving the growth of the market. Moreover, increasing awareness concerning environmental impact is playing major role in the growth of the precision farming market. However, high initial investments in R&D and lack of technical knowledge among the farmers hinders the growth of the market. Based on Application, yield monitoring segment is expected to grow at highest CAGR over the forecast years owing to its important role in understanding the field variability and help growers maximize their production. This application provides farmers information regarding the soil properties, weather conditions, and fertilizers. Soil monitoring by Yield monitoring application plays a vital role to detect the soil parameters that are needed for the efficient yield production.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2022 |
US$ 7.6 billion |
Market CAGR |
11.7% |
By Type |
|
By Treatment Type |
|
By End User |
|
By Region |
|
Download Free Sample Report
The precision farming market size was valued at US$ 7.6 billion in 2022.
The precision farming market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The precision farming market key players are Deere & Company, CropMetrics LLC, Trimble Navigation Limited, CropX, AgSmarts Inc, AgSense, LLC, AGCO Corporation, DICKEY-john, Monsanto Company, Ag Leader Technology
1.Executive Summary |
2.Global Precision Farming Market Introduction |
2.1.Global Precision Farming Market - Taxonomy |
2.2.Global Precision Farming Market - Definitions |
2.2.1.Type |
2.2.2.Treatment Type |
2.2.3.End User |
2.2.4.Region |
3.Global Precision Farming Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Precision Farming Market Analysis, 2018 - 2022 and Forecast 2023 - 2029 |
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Precision Farming Market By Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
5.1. Hardware |
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Software |
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Services |
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
6.Global Precision Farming Market By Treatment Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
6.1. Yield Monitoring |
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Field Mapping Telematics |
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Crop Scouting |
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Weather Tracking & Forecasting |
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Inventory Management |
6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Farm Labor Management |
6.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Others |
6.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
7.Global Precision Farming Market By End User, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
7.1. Guidance Technology |
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Remote Sensing Technology |
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Variable-Rate Technology |
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8.Global Precision Farming Market By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Precision Farming Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
9.1. Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Hardware |
9.1.2.Software |
9.1.3.Services |
9.2. Treatment Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Yield Monitoring |
9.2.2.Field Mapping Telematics |
9.2.3.Crop Scouting |
9.2.4.Weather Tracking & Forecasting |
9.2.5.Inventory Management |
9.2.6.Farm Labor Management |
9.2.7.Others |
9.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Guidance Technology |
9.3.2.Remote Sensing Technology |
9.3.3.Variable-Rate Technology |
9.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Precision Farming Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Hardware |
10.1.2.Software |
10.1.3.Services |
10.2. Treatment Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Yield Monitoring |
10.2.2.Field Mapping Telematics |
10.2.3.Crop Scouting |
10.2.4.Weather Tracking & Forecasting |
10.2.5.Inventory Management |
10.2.6.Farm Labor Management |
10.2.7.Others |
10.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Guidance Technology |
10.3.2.Remote Sensing Technology |
10.3.3.Variable-Rate Technology |
10.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
10.4.6.Rest of EU |
11.Asia Pacific (APAC) Precision Farming Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Hardware |
11.1.2.Software |
11.1.3.Services |
11.2. Treatment Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Yield Monitoring |
11.2.2.Field Mapping Telematics |
11.2.3.Crop Scouting |
11.2.4.Weather Tracking & Forecasting |
11.2.5.Inventory Management |
11.2.6.Farm Labor Management |
11.2.7.Others |
11.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Guidance Technology |
11.3.2.Remote Sensing Technology |
11.3.3.Variable-Rate Technology |
11.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Precision Farming Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Hardware |
12.1.2.Software |
12.1.3.Services |
12.2. Treatment Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Yield Monitoring |
12.2.2.Field Mapping Telematics |
12.2.3.Crop Scouting |
12.2.4.Weather Tracking & Forecasting |
12.2.5.Inventory Management |
12.2.6.Farm Labor Management |
12.2.7.Others |
12.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Guidance Technology |
12.3.2.Remote Sensing Technology |
12.3.3.Variable-Rate Technology |
12.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Precision Farming Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million) |
13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Hardware |
13.1.2.Software |
13.1.3.Services |
13.2. Treatment Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Yield Monitoring |
13.2.2.Field Mapping Telematics |
13.2.3.Crop Scouting |
13.2.4.Weather Tracking & Forecasting |
13.2.5.Inventory Management |
13.2.6.Farm Labor Management |
13.2.7.Others |
13.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Guidance Technology |
13.3.2.Remote Sensing Technology |
13.3.3.Variable-Rate Technology |
13.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Deere & Company |
14.2.2.CropMetrics LLC |
14.2.3.Trimble Navigation Limited |
14.2.4.CropX |
14.2.5.AgSmarts Inc |
14.2.6.AgSense, LLC |
14.2.7.AGCO Corporation |
14.2.8.DICKEY-john |
14.2.9.Monsanto Company |
14.2.10.Ag Leader Technology |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players