Global Precision Agriculture

Global Precision Agriculture Market Research Report: Forecast (2021-2026)

By Offering (Hardware, Software, Services), By Application (Yield Monitoring, Field Mapping, Crop Scouting, Variable Rate Application, Soil Monitoring, Weather Tracking), By Technology (Guidance Syste Read more

  • Environment
  • Apr 2021
  • 211
  • ET55005

Market Overview

Precision agriculture, also known as site-specific crop management and satellite farming, is an advanced farming management concept that collects field-related information and further analyses it to support decision-making related to crop fertilization and harvesting.

According to the MarkNtel Advisors' research report, "Global Precision Agriculture Market Analysis, 2021," the market is likely to grow at a CAGR of around 13% during 2021-26 primarily due to the surging labor costs and scarcity of skilled laborers. Moreover, increasing farm mechanization and rising government support for modern agriculture techniques in Smart farming also drive the Global Precision Agriculture market growth.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 13%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain, Russia
Asia-Pacific: China, India, Japan, South Korea, Australia and Others
South America: Brazil, Argentina, Mexico
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.
Unit Denominations USD Million/Billion

Global Precision Agriculture Market Research Report: Forecast (2021-2026)

Impact of COVID-19

The outbreak of the COVID-19 pandemic has adversely impacted the overall world economy. Due to this, the global precision agriculture market has witnessed a downfall in its growth rate due to the imposition of lockdown and strict government restrictions on the movement of people leading to cause a shortage of equipment and disruption of the supply chain. Although, Post COVID-19, the market is likely to grow tremendously in the forecast period by leveraging technologies helping in real-time decision making.

Market Segmentation 

Hardware Segment Accounted for the Largest Market Share

Within the offering segment, the market is likely into Hardware, Software, and Services segments. The Hardware segment acquired the largest share in the Global Precision Agriculture Market in the previous few years due to the burgeoning use of hardware devices, such as sensors, drones, yield monitors, smartphones, and cameras installed on agricultural equipment like harvesters and tractors. It enables better crop monitoring and makes the task easier to perform. Thus, the global precision agriculture market is likely to grow considerably in the forecast period, reveals MarkNtel Advisors in their research report, "Global Precision Agriculture Market Analysis, 2021."  

Guidance System Grabbed the Highest Market Share

Based on the Technology, the Guidance System dominated the global precision agriculture market in the previous year due to the extensive use of GPS in processing location-based data. The use of a guidance system enhances the efficiency of processes, reduces unnecessary expenditure on agrochemicals & seeds, and helps maintain automated records, thereby providing the opportunity to drive the growth of the precision agriculture market.

Regional Landscape

North America dominated the Precision Agriculture Market

Region-wise, North America accounted for the largest share in the global precision agriculture market in the previous few years. The growth attributes to the increasing agriculture mechanization and advanced technologies & devices in agribusinesses. Since the United States is a developed nation, it is backed by high investments in developing Smart farming, thereby fueling the Precise Agricultural Market growth. Additionally, rising awareness about the quality of crops and mounting innovations further provide lucrative growth opportunities to the market.

Market Driver

Surging Adoption of Advanced Technology is fuelling the Market Growth

The rising adoption of advanced technologies like remote sensing, GPS, and variable rate technology (VRT), leads to an increased efficiency & productivity and reduced labor costs. Along with this, the implementation of technologically advanced devices helps in optimum use of resources, thus, reducing the wastage of raw material and helps in performing huge tasks in less time.

Competitive Landscape

According to MarkNtel Advisors, the major leading players in the global Precision Agriculture market are 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., etc.

Key Questions Answered in the Market Research Report:

  1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Precision Agriculture Market?
  2. What is the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Precision Agriculture Market? 
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Precision Agriculture Market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Precision Agriculture Market study?

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on Global Precision Agriculture Market
  • Market Size & Analysis
    • By Revenue
  • Market Share & Analysis
    • By Offering
      • Hardware
      • Software
      • Services
    • By Application
      • Yield Monitoring
      • Field Mapping
      • Crop Scouting
      • Variable Rate Application
      • Soil Monitoring
      • Weather Tracking 
    • By Technology
      • Guidance System
      • Variable Rate Technology (VRT)
      • Remote Sensing
    • By Region
      • North America
      • Latin America
      • Europe
      • Middle East & Africa
      • Asia-Pacific
    • By Competitors
      • Competition Characteristics
      • Market Share & Analysis
      • Competitive Metrix
  • Global Precision Agriculture Market Hotspots & Opportunities
  • Global Precision Agriculture Market Regulations & Policy
  • Key Strategic Imperatives for Success and Growth
  • Global Competition Outlook
    • Competition Matrix
    • Company Profile

Frequently Asked Questions

A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.

A. The measuring units of market size/industry size or the market value are USD Million.

A. The Global Precision Agriculture Market is forecast to grow at a CAGR of 13% during 2021-26

A. 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. are few of the leading players in the Global Precision Agriculture Market.

A. Hardware is likely to attain the highest CAGR during the forecast period and maintain its significant market share

A. North America continues to grow at the highest CAGR, thereby offering immense opportunities to market players of the Global Precision Agriculture Market

  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, 2016-2026F
    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, 2016-2026F
    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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
    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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
    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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
    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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
    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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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, 2016-2026F
      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
Global Precision Agriculture Market Segmentation