The Precision Farming Market size was valued at US$ 7.58 Billion in 2021 and the total precision farming revenue is expected to grow at 12.9% through 2022 to 2029, reaching nearly US$ 20.02 Billion.

Precision Farming Market Overview

The report includes a detailed analysis of Precision Farming market dynamics, size and share with the list of key players across the globe. The competitive landscape including the revenue of each player in the report helps clients to develop strategies to grow their presence in the global Precision Farming market.

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Precision Farming Market Report Scope and Research Methodology

The main aim of the report is to present a detailed analysis of the Global Precision Farming Market including all the stakeholders of the industry. The past and current status of the Precision Farming industry with forecasted market size and trends are presented in the report. The report provides a detailed region-wise and segment-wise analysis of the Precision Farming market dynamics including drivers, restraints, challenges and opportunities. PORTER, SWOT, and PESTLE analysis with the potential impact of macroeconomic and microeconomic factors of the Precision Farming industry have been presented in the report. The bottom-up approach was used to estimate the global and regional Precision Farming size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the global market makes the Precision Farming market report an investor’s guide.

Precision Farming Market Regional Insights

The report provides a detailed analysis of Precision Farming market dynamics with market size and share in each region and country:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• South America

Precision Farming Market Segmentation

By providing:
The precision agriculture market is further segmented into hardware, software, and services. In 2029, the precision agricultural machinery market is expected to become the largest. The precision agriculture market is segmented into three segments based on its products.
Hardware, Software and Services. Hardware has captured the largest market share in 2021 due to widespread deployment of automation and control devices (drone/UAV, GPS/GNSS, irrigation controllers, guidance and guidance systems, yield monitors and sensors).

Increased use of new technologies and improved precision farming equipment is likely to boost the growth of the precision farming hardware market. The precision agriculture services market is expected to develop at the fastest CAGR (2022-2029) during the forecast period. Rising demand for managed services is a major factor driving the growth of the precision agriculture services market.

By technology:
The precision agriculture market is segmented based on technology into GNSS, GIS, remote sensing, and VRT. Floating rate technology is expected to hold the highest share in 2029.

After application:
The market is segmented into various applications such as yield and soil monitoring, crop prospecting, precision irrigation, and mapping. Mapping has the highest market share in 2021. The precision irrigation management application market is expected to grow at a higher CAGR during the forecast period (2022-2029). An attractive growth rate is expected for precision irrigation during the forecast period (2022-2029). Precision irrigation uses technologies such as weather-based controls, rain sensors, temperature sensors, network elements, water meters and sensor-based controls. Rising demand for water conservation and food production, as well as reduced resource wastage, are the main motivations for the increased use of precision instruments in irrigation management applications.  

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Precision Farming Market Key Players

• Deere & Company
• AGCO Corporation
• Trimble
• Raven Industries
• Topcon Positioning
• AgJunction
• Observant
• Granular Inc
• Agrivi Ltd.
• Monsanto Company
• Dickey-John Corporation
• Ag Leader Technology
• CNH Industrial NV
• SST Development Group.
• Trimble Navigation Limited
• Tetra Laval Holdings B.V.

Key Questions answered in the Precision Farming Market Report are:

• Which segment held the largest share in the Precision Farming market?
• Which are the factors driving the Precision Farming market growth?
• Which region holds the largest share in the Precision Farming market?
• What is the expected CAGR of the Precision Farming market during the forecast period?
• Who are the key players in the Precision Farming market?
• What key trends are expected to emerge in the Precision Farming market during the forecast period?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – A detailed analysis by X, X, X and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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