"Smart Strategies, Giving Speed to your Growth Trajectory"

Precision Agriculture Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Technology (Remote Sensing, GPS/GNSS Systems, Variable Rate Technology (VRT), Guidance Software, Geomapping), By Application (Crop Management, Financial management, Weather Forecasting, Person and Inventory Management, Irrigation Management)and Regional Forecast, 2024-2032

Region : Global | Report ID: FBI102431 | Status : Ongoing

 

KEY MARKET INSIGHTS

Precision agriculture (PA) is a farming approach that encompasses the implementation of Information technology (IT) to identify, analyze, and manage variability within a farm to enhance crop production with reduced human efforts. Precision agriculture enables farmers to analyze the exact amount of nutrition crops need to optimize production through retrieving real data about the conditions of soil, crops, and weather conditions.


Precision farming solutions are helping farmers to utilize advanced automation techniques to reduce labor work and material costs. Through sensors and monitoring devices, precision farming techniques are assisting farmers in making improved decisions about harvesting times, control inventory and soil management, and smart water management.

Key Market Driver -

Increasing adoption of innovative precision farming technology stoked by rising population and increased demand of organic food

Key Market Restraint -

High initial investment and lack of knowledge among farmers


The primary factor fueling precision agriculture growth is the increasing need for optimum crop production within limited resources. The increasing need for proper crop monitoring, rising adoption of Internet of things (IoT) technology, and the use of advanced analytics by farmers are some of the major factors contributing to the growth of the precision agriculture market. Furthermore, changing weather conditions due to global warming has created numerous opportunities for farmers to adopt advanced farming technology. Government initiatives in developing countries are helping farmers and agro-businesses to adopt advanced farming technology for increased yield production.

However, the high initial cost associated with precision farming technology, along with a lack of awareness are factors limiting the precision farming market growth.

Market Segmentation:


By component, the market is segmented into hardware, software, and services. The hardware segment is further divided into sensors and monitoring devices, cameras and display, mobile devices, UAVs. Based on technology, the market is fragmented into remote sensing, GPS/GNSS systems, Variable Rate Technology (VRT), guidance software, and geomapping. On the basis of applications, the market has been segmented into crop management, financial management, weather forecasting, person and inventory management, and irrigation management.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:


The major companies in the global precision agriculture market report include Precision Planting LLC, TeeJet Technologies, CropMetrics LLC, Trimble Inc., Ag Leader Technology, Deere & Company, Raven Industries, Inc., Lindsay Corporation, Monsanto Company, Valmont Industries, Inc., Topcon, and Farmers Edge Inc.

Regional Analysis:


To gain extensive insights into the market, Request for Customization


The global precision agriculture market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific, followed by North America, dominated the global precision agriculture market owing to the increasing adoption of modern farming technology and rapidly increasing population. Moreover, increasing awareness about the quality of the food in the region backed by constantly evolving infrastructure has contributed to the high revenue of the regional market. In addition to this, numerous government initiatives in the region have created wide opportunities for key players in the region to adopt advanced farming technologies, which will further contribute to regional growth. Latin America and Middle East & Africa are projected to register a comparatively higher CAGR by the end of the forecast period.

Segmentation


























 ATTRIBUTE

 DETAILS

By Component



  • Hardware

    • Sensors and Monitoring Devices

    • Cameras and Display

    • Mobile Devices

    • UAVs



  • Software

  • Services



By Technology



  • Remote Sensing

  • GPS/GNSS Systems

  • Variable Rate Technology (VRT)

  • Guidance Software

  • Geomapping



By Application



  • Crop Management

  • Financial management

  • Weather Forecasting

  • Person and Inventory Management

  • Irrigation Management



By Geography



  • North America (US, Canada)

  • Europe (UK, Germany, France, Italy and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, and New Zealand and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



Precision Agriculture Industry Developments



  • In December 2019, CropMetrics, a leader in precision irrigation software and analytics, entered into partnership with The Climate Corporation to enable enhanced data connectivity for farm water management.

  • In January 2019, Precision Planting LLC launched a mobile-device application 20|20 Connect app. This application will help farmers to be more efficient while planting by providing diagnostic screens from their mobile devices.


  • Ongoing
  • 2023
  • 2019-2022

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

Bain & Company
Fujitsu
Google
Hitachi
Yahoo

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X