Latin America Precision Agriculture Market Research Report: Forecast (2023-2028)

By Offering (Hardware, Software, Services), By Application (Precision Irrigation, Yield Monitoring, Precision Spraying, Precision Fertilization, Precision Planting, Data Management......), By Crop Type (Cereals & Grains, Oil seeds & Pulses, Fruits & Vegetables, Others [Herbs, etc.], By Country (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Rest of Latin America), By Company (Ag Smarts Inc., AGCO Corporation, BASF SE, Bayer, Cropmetrics LLC, Deere & Company, Leica Geosystem, Monsanto Company, Raven Industries, Inc., Topcon Corporation, Trimble Inc., Others) Read more

  • Environment
  • Aug 2023
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Market Insights & Analysis: Latin America Precision Agriculture Market (2023-28)

The Latin America Precision Agriculture market is projected to grow at a CAGR of around 13.0% during the forecast period, i.e., 2023-28. It attributes to the factors such as the growing demand for exceptional crop production with limited resources & the upsurging population of the region with the scarcity of food. In recent years, the region's agricultural industry has undergone considerable changes. Latin America, with ample agricultural lands & a burgeoning populace, faces a daunting predicament.

As the number of inhabitants continues to rise, the specter of hunger looms large. Hence, this necessitates the optimization of crop yields with limited resources. Nevertheless, the agricultural sector grapples with multifarious challenges, such as water scarcity, soil erosion, and climatic perturbations, which precipitated the need for judicious & sustainable farming practices. Moreover, with the upsurge of the populace in the vicinity, there is a rise in the hunger index. For instance,

  • In 2023, according to the report published by United Nations, nearly 131 million people in Latin America & the Caribbean cannot access a healthy diet. Also, the farms & fields produce a lot of food, but about 47 million people remain hungry.
Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 13%
Country Covered Brazil, Mexico, Argentina, Colombia, Chile, Peru, Rest of Latin America
Key Companies Profiled Ag Smarts Inc., AGCO Corporation, BASF SE, Bayer, Cropmetrics LLC, Deere & Company, Leica Geosystem, Monsanto Company, Raven Industries, Inc., Topcon Corporation, Trimble Inc., Others
Unit Denominations USD Million

 

Given the burgeoning population, the demand for food has escalated, necessitating that agriculture caters to this demand & ensures that the populace has access to wholesome & nutritious sustenance. Consequently, there is a need for farming methods that are conducive to augmenting productivity & ameliorates the quality of edibles produced. Therefore, the increasing requirement for optimum crop production with limited resources & scarcity of food propels the demand for precision agriculture. The ripple in the adoption of smartphones in the region has fueled market growth as smartphones have become omnipresent & have revolutionized our existence, employment, and correspondence.

In line with agriculture, smartphones are employed to collate information, track crops, and offer access to knowledge & data. Also, the assimilation of smartphones has enabled agriculturists to make sensible decisions, optimize crop production, and increase their yields. As the proliferation of smartphones persists, it is reasonable to anticipate that more innovation in agriculture is presumed to be unveiled, exploiting the supremacy of mobile technology. The agricultural domain confronts a plethora of ecological quandaries, such as climate change, soil deterioration, and water scarcity. As a consequence, farmers seek means to curtail their environmental footprint while sustaining or escalating their yield.

To this end, sustainable techniques, including conservation agriculture, precision farming, and organic farming, are gaining traction as farmers aspire to exhibit environmental cognizance. Therefore, market growth is the combined effort of several factors, which include the soaring demand for optimum crop production with limited resources, the surging population in the region, and the growing environmental concerns.

Latin America Precision Agriculture Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Latin America Agriculture Industry Outlook, 2023
  5. Latin America Agri-Tech Start-up Ecosystem, 2023
    1. Entrepreneurial Activity Year on Year
    2. YoY Amount Invested
    3. Series Wise Funding Received
    4. Funding Received by Top Companies
    5. Key Investors Active in the Market
  6. Latin America Precision Agriculture Market Trends & Insights
  7. Latin America Precision Agriculture Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. Latin America Precision Agriculture Market Policies and Product Standards
  9. Latin America Precision Agriculture Market Hotspot & Opportunities
  10. Latin America Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
        1. Hardware
          1. Automation and Control System
            1. GPS/GNSS System
            2. Guidance and Steering System
            3. Flow and Application Rate Control Solutions
            4. Handheld Computers/ Mobile devices
            5. Agriculture Cameras
            6. Others
          2. Sensing and Monitoring
            1. Yield Monitors
            2. Sensing Systems
            3. Other Hardware
        2. Software
        3. Services
          1. Integration and Deployment
          2. Maintenance and Repair
          3. Other Services
      2. By Application
        1. Precision Irrigation
        2. Yield Monitoring
        3. Precision Spraying
        4. Precision Fertilization
        5. Precision Planting
        6. Data Management
      3. By Crop Type
        1. Cereals & Grains
        2. Oil seeds & Pulses
        3. Fruits & Vegetables
        4. Others (Herbs, etc.)
      4. By Country
        1. Brazil
        2. Mexico
        3. Argentina
        4. Colombia
        5. Chile
        6. Peru
        7. Rest of Latin America
      5. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
  11. Brazil Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  12. Mexico Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  13. Argentina Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  14. Colombia Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  15. Chile Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  16. Peru Precision Agriculture Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Crop Type
  17. Latin America Precision Agriculture Market Key Strategic Imperatives for Success & Growth
  18. Competition Outlook
    1. Competition Matrix
      1. Target Markets
      2. Research & Development
      3. Collaborations & Strategic Alliances
      4. Key Business Expansion Initiatives
      5. Business Restructuring- Mergers, Acquisitions, JVs
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Ag Smarts Inc.
      2. AGCO Corporation
      3. BASF SE
      4. Bayer
      5. Cropmetrics LLC
      6. Deere & Company
      7. Leica Geosystem
      8. Monsanto Company
      9. Raven Industries, Inc.
      10. Topcon Corporation
      11. Trimble Inc.
      12. Others
  19. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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