Global Precision Agriculture Market Research Report: Forecast (2024-2030)

Precision Agriculture Market - By Offering (Hardware, Software, Services), By Application (Precision Irrigation, Field Monitoring, Precision Spraying, Precision Fertilization, Precision Planting, Data... ... ision Planting, Data Management, Other Applications), By Agricultural Produce (Cereals Oil Crops, Roots, Tuber, and Plantains, Industrial Crops, Fruits, Vegetables, Nuts, Others), By Technology (Guidance System, Variable Rate Technology (VRT), Remote Sensing), and others Read more

  • Environment
  • Jan 2024
  • 211
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Market Definition

Precision agriculture, often known as precision farming, is a cutting-edge agricultural method that maximizes crop farming management at the field level by using modern-day advanced technologies. The primary objectives of precision agriculture are to optimize resource utilization, decrease ecological footprint, and improve agricultural productivity.

Market Insights & Analysis: Global Precision Agriculture Market (2024-30):

The Global Precision Agriculture Market size was valued at around USD 10.43 billion in 2023 and is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2024-30. The increasing desire for sustainable farming methods and technology upgrades are the primary drivers of the Global Precision Agriculture Market. The agricultural industry is witnessing transformation due to improvements in GPS, IoT, drones, remote sensing, and data analytics. These technologies have allowed farmers to collect and process facts with excessive accuracy, which has boosted crop yields and maximized resource utilization. Additionally, the market is driven by the growing worldwide populace and their increasing food demand since precision agriculture helps to enhance efficiency and output.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 13%
Regions Covered North America: USA, Canada
Europe: The UK, Italy, Germany, France, Spain, Russia
Asia-Pacific: China, Japan, India, South Korea, Australia, Others
Latin America: Brazil, Mexico, Argentina
Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa
Key Companies Profiled Deere & Company, CropMetrics LLC, Trimble Navigation Limited, Ag Leader Technology, AgJunction, Inc., AgEagle Aerial Systems Inc. (Agribotix LLC), DICKEY-john Corporation, Farmers Edge Inc., Grownetics, Inc., Granular, Inc.
Market Value (2023)

USD 10.43 Billion

 

Moreover, the use of precision agricultural technology is also being aided through government programs, assistance, and positive regulations in the shape of subsidies. Since precision agriculture helps to decrease the excessive use of water, fertilizers, and insecticides, the industry is likewise driven with the aid of the emphasis on reducing environmental effects by sustainable techniques. In addition, the trend towards farm mechanization in developing countries in conjunction with the incorporation of big data and sophisticated analytics is enhancing farm control and selection-making procedures, ultimately augmenting the size & volume of the precision agriculture industry.

The Global Precision Agriculture Market is confronted with some noteworthy barriers that could hinder its extensive expansion and growth. The high cost of technology deployment is one of the main barriers. Precision farming necessitates sophisticated devices like GPS, sensors, drones, and data analytics software, which are pricey and hard for small and medium-sized farms to acquire. Another essential impediment is the dearth of technical knowledge and lack of proper experience among farmers. There is a lack of understanding among farmers regarding the proper use of these advanced technologies, which results in low application of precision methods, thus hindering market growth & development. Problems associated with standards and requirements are also relevant. Farmers can also discover it difficult to comply with diverse guidelines and technology providers may additionally find it difficult to design solutions that might be globally relevant because of the absence of common standards and rules across different regions. Therefore, to maintain a steady revenue growth during the forecast period, all stakeholders are required to work closely on all these issues.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Precision Agriculture Market
  5. Global Precision Agriculture Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  6. Global Precision Agriculture Market Policies and Product Standards
  7. Global Precision Agriculture Market Trends & Insights
  8. Global Precision Agriculture Market Hotspot & Opportunities
  9. Global Precision Agriculture Market Key Strategic Imperatives for Success & Growth
  10. Global Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues
    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. Field Monitoring
        3. Precision Spraying
        4. Precision Fertilization
        5. Precision Planting
        6. Data Management
        7. Other Applications
      3. By Agricultural Produce
        1. Cereals
        2. Oil Crops
        3. Roots, Tuber, and Plantains
        4. Industrial Crops
        5. Fruits
        6. Vegetables
        7. Nuts
        8. Others
      4. By Technology
        1. Guidance System
        2. Variable Rate Technology (VRT)
        3. Remote Sensing
        4. Data Analytics
      5. By Region
        1. North America
        2. Latin America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      6. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Matrix
  11. North America Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Agricultural Produce
      4. By Technology
      5. By Country
        1. The US
        2. Canada
    3. The US Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    4. Canada Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
  12. Latin America Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Agricultural Produce
      4. By Technology
      5. By Country
        1. Brazil
        2. Mexico
        3. Argentina
    3. Brazil Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    4. Mexico Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    5. Argentina Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
  13. Europe Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Agricultural Produce
      4. By Technology
      5. By Country
        1. The UK
        2. Italy
        3. Germany
        4. France
        5. Spain
        6. Russia
    3. The UK Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    4. Italy Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    5. Germany Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    6. France Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    7. Spain Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    8. Russia Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
  14. Middle East & Africa Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Agricultural Produce
      4. By Technology
      5. By Country
        1. Saudi Arabia
        2. South Africa
        3. Rest of the Middle East & Africa
    3. Saudi Arabia Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    4. South Africa Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
  15. Asia-Pacific Precision Agriculture Market Outlook, 2019-2030F
    1. Market Size & Analysis
    2. Revenues
    3. Market Share & Analysis
      1. By Offering
      2. By Application
      3. By Agricultural Produce
      4. By Technology
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Others
    4. China Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    5. Japan Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    6. India Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    7. South Korea Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
    8. Australia Precision Agriculture Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Offering
        2. By Application
        3. By Technology
  16. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
  17. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
    1. Deere & Company
    2. CropMetrics LLC
    3. Trimble Navigation Limited
    4. Ag Leader Technology
    5. AgJunction, Inc.
    6. AgEagle Aerial Systems Inc. (Agribotix LLC)
    7. DICKEY-john Corporation
    8. Farmers Edge Inc.
    9. Grownetics, Inc.
    10. Granular, Inc.
  18. 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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