Global Precision Farming Market By Overview
Precision farming market is expected to register lucrative growth over the forecast period. Increasing demand for modern farming techniques, coupled with technological advancements in precision farming are factors expected to propel growth of the target market over the forecast period.Precision farming market was valued at US$ 10.7 billion in 2024 and is projected to grow at a CAGR of 11.8 % to reach US$ 32.8 billion by 2034.
The Precision farming market is segmented on the basis of offering, application, and region. On the basis of offering, the global market is segmented into hardware, software, and services. The hardware segment contributes for major revenue share, in 2018. Increasing adoption of automation and control device is primary factor expected to propel growth of the segment over the forecast period.
On the basis of application, the global market is segmented into yield monitoring, field mapping, crop scouting, weather tracking & forecasting, irrigation management, inventory management, and others. The yield monitoring segment accounted for highest revenue share in 2018, and is expected to maintain its dominance over the forecast period.
On the basis of region, the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The precision farming market in North America accounted for highest revenue share, in 2018 and is expected to maintain its dominance over the forecast period. Growing demand for modern farming techniques, especially from the U.S, owing to the increasing demand for food as well as depleting arable land is major factors expected to support growth of the target market in the region over the forecast period. Furthermore, Europe precision farming market is expected to register second-highest CAGR over the forecast period.
Key players operating in the precision farming market includes Deere & Company, Trimble Inc., AGCO International GmbH, Agjunction LLC, Raven Industries Inc., AG Leader Technology, Inc., Teejet Technologies Illinois, LLC, Topcon Positioning Systems, Inc., Dickey-John Corporation, Cropmetrics LLC, Hexagon AB and Escorts Ltd.
Global Precision Farming Market By Table of Contents
Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
Precision Farming Market, By Product, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Hardware
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Software
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Precision Farming Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Yeild Monitoring
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Field Mapping
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Crop Scouting
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Weather Tracking & Forecasting
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Irrigation Management
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Precision Farming Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
Company Profiles
- Deere & Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Trimble Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- AGCO International GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Agjunction LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Raven Industries Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- AG Leader Technology, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Teejet Technologies Illinois, LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Topcon Positioning Systems, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dickey-John Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Cropmetrics LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hexagon
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ABEscorts Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Precision Farming Market is segmented into Type, Application, and Region.
Factors include the increasing demand for efficient agricultural practices, adoption of IoT and AI in farming, and the need for precision agriculture to optimize yields, driving global growth in the precision farming market.
Challenges include high initial investment costs, limited technology awareness in certain regions, and concerns about data security and privacy, posing restraints on the global market.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the target market includes, Deere & Company, Trimble Inc., AGCO International GmbH, Agjunction LLC, Raven Industries Inc., AG Leader Technology, Inc., Teejet Technologies Illinois, LLC, Topcon Positioning Systems, Inc., Dickey-John Corporation, Cropmetrics LLC, Hexagon AB and Escorts Ltd.