Precision Farming Market Size, Share and Industry Growth 2031

Precision Farming Market by Offering (Hardware {Drones, GPS, Yield Monitors, Sensors}, Software, Services), Technology (Guidance Technology, Remote Sensing Technology and Variable Rate Technology), Application and Region - Global Forecast to 2031

Report Code: SE 2831 Aug, 2023, by marketsandmarkets.com

Updated on : October 22, 2024

Precision Farming Market Size & Growth

The global precision farming market size is expected to grow from USD 9.7 billion in 2023 to USD 21.9 billion by 2031, growing at a CAGR of 10.7% between 2023 to 2031.

The primary drivers behind the expansion of the market include the swift uptake of cutting-edge technologies in precision agriculture aimed at lowering labor expenses, the growing embrace of Internet of Things (IoT) devices in farming domains, considerable monetary savings linked with precision farming, the impact of climate change and the imperative to meet escalating food requirements, as well as the mounting endorsement of precision farming methods by governments on a global scale.

Precision Farming Market

Precision Farming Market

Precision Farming Market Forecast to 2031

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Precision Farming Market Trends and Dynamics:

Driver: Integration of precision farming technologies with existing farm machinery

Integration with farm machinery is a pivotal driver propelling the widespread adoption of precision agriculture. With the rapid advancement of precision agriculture technologies, such as sensors, GPS, and data analytics, farmers can now seamlessly incorporate these innovations into their existing equipment, including tractors, drones, and harvesters. This integration streamlines data collection, enhances operational efficiency, and enables data-driven decision-making. Equipped with state-of-the-art sensors and monitoring systems, modern farm machinery can effortlessly gather real-time data on soil conditions, crop health, and weather patterns. GPS technology enables precise navigation and guidance, ensuring that machinery follows predetermined paths during planting, spraying, and harvesting operations, leading to optimized coverage and reduced overlap. Variable Rate Technology (VRT) allows farmers to adjust input application rates based on specific field requirements, resulting in resource optimization and improved crop yields. Moreover, the automation and remote monitoring capabilities facilitate increased operational efficiency and reduced labor costs. By leveraging data analytics and farm management software, farmers can make informed decisions about irrigation, fertilization, and pest control, resulting in enhanced productivity and sustainability. The integration of drones with farm machinery further extends precision agriculture's benefits, enabling aerial surveys and targeted responses to crop stress, pest infestations, and disease outbreaks. Ultimately, this integration empowers farmers to embrace precision practices seamlessly and efficiently, leading to more sustainable and productive agricultural operations.

Restraint: Lesser reliability of internet connectivity and infrastructure for precision farming

Rural Connectivity and Infrastructure significantly restrain the widespread adoption of precision farming technologies. In many agricultural regions, particularly in rural and remote areas where farming activities are prevalent, access to reliable and high-speed internet connectivity may be limited or unavailable. This lack of connectivity hinders the seamless integration and real-time transmission of crucial data required for precision agriculture. Farmers may encounter difficulties accessing data from sensors, drones, and other monitoring devices in the field without a stable internet connection. Transmitting this data to centralized systems or cloud-based platforms for analysis and decision-making becomes challenging. The absence of robust infrastructure may also limit the implementation of advanced precision farming practices that rely on constant connectivity and data exchange. As a result, farmers in these regions may face barriers in adopting precision farming solutions, potentially missing out on the optimization of inputs, efficient resource utilization, and improved crop management offered by these technologies. Efforts to expand rural internet coverage and improve infrastructure are vital to overcoming this restraint and empowering farmers in remote areas to benefit from the transformative potential of precision agriculture.

Opportunity: Rising usage of digital agricultural platforms along with rising demand for sustainable agriculture

Digital agriculture platforms and farm management software solutions are playing a pivotal role in the advancement of precision farming. These emerging technologies offer farmers comprehensive tools to seamlessly integrate and analyze data from various sources, including sensors, drones, and satellite imagery. By centralizing data on a user-friendly interface, these platforms simplify the adoption of precision farming practices, enabling farmers to make informed decisions based on real-time insights. Moreover, they provide a holistic view of farm operations, allowing farmers to efficiently monitor and manage their fields, crops, and equipment. With streamlined data collection and analysis, farmers can optimize resource allocation, adjust irrigation and fertilization schedules, and implement precision techniques, ultimately leading to enhanced crop yields and operational efficiency. In addition to increased productivity, precision farming aligns with the global trend towards sustainable and eco-friendly agriculture. Consumers are increasingly demanding food produced with minimal environmental impact, driving the need for more sustainable farming practices. Precision farming's ability to precisely target inputs, such as water and fertilizers, minimizes wastage and reduces the release of harmful chemicals into the environment. By promoting responsible resource management, precision farming addresses eco-conscious consumers' preferences, providing an opportunity for farmers to cater to this growing precision farming market segment. Embracing sustainable practices and highlighting eco-friendly production can also position precision farmers to access premium markets and secure a competitive edge in the agricultural industry. As the demand for sustainably produced food continues to rise, precision farming presents a promising opportunity for farmers to meet consumer expectations while also ensuring long-term environmental sustainability.

Challenge: Lacking data privacy and increased security concerns

Data privacy and security concerns present a significant challenge in the precision farming market share. As precision agriculture heavily relies on data collection from various sources, including sensors, drones, and satellites, there is a growing need to address the privacy and security of this data. Farmers and technology providers must ensure that the collected, shared, and stored data remain protected from unauthorized access and potential breaches. This sensitive information may include details about crop yields, soil conditions, farm operations, and even personal information about farmers. Building trust between farmers and technology providers is crucial to encourage data sharing and adoption of precision farming technologies. Implementing robust encryption, secure data storage, and access controls are essential steps to safeguarding sensitive information. Clear data usage policies and transparent communication about how the data will be utilized can help alleviate concerns and promote responsible data handling practices. By proactively addressing data privacy and security concerns, the precision farming industry can foster a climate of trust and collaboration, enabling farmers to leverage the full potential of precision agriculture without compromising their data's confidentiality and integrity.

Precision Farming Market Ecosystem

The precision farming companies includes key companies such as Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), AgJunction LLC (US), Raven Industries, Inc. (US), AG Leader Technology (US), Teejet Technologies (US), Topcon (US), Taranis (Israel), AgEagle Aerial Systems Inc (US), ec2ce (Spain), Descartes Labs, Inc. (US), Granular Inc. (US), Hexagon AB (Brazil), Climate LLC (US), and CropX Inc. (Israel). These companies have manufacturing facilities and corporate offices spread across various countries across Asia Pacific, Europe, Americas, and the Rest of the World. Several stakeholders purchase the precision farming products manufactured by these companies for various applications.

Precision Farming Market by Ecosystem

Precision Farming Market Segmentation

Hardware segment to hold the largest share of precision farming market during the forecast period

The categorization of the precision farming industry based on its offerings has resulted in the segmentation of hardware, software, and services. A further division has occurred within the hardware category, leading to automation and control systems, as well as monitoring and sensing devices. In particular, automation and control systems encompass GPS receivers, guidance and steering mechanisms, and variable-rate technology (VRT) devices. These elements are projected to hold a substantial portion of the hardware segment’s share in the market throughout the anticipated timeframe. This is primarily due to their widespread utilization within the precision farming sphere. The growth trajectory of this market sector can be ascribed to the significant adoption of automation and control devices, including drones/UAVs, GPS/GNSS systems, irrigation controllers, guidance and steering systems, yield monitors, and agricultural sensors, within the agricultural domain.

Variable rate technology is expected to witness higher CAGR during the forecast period

Variable rate technology is expected to demonstrate the highest CAGR compared to other technologies within the projected period. The accelerated adoption of variable rate technology can be attributed to its early uptake by farmers. This advancement is propelled by the integration of GPS-based auto-guidance technology, which empowers agricultural professionals to optimize equipment and tractor utilization, leading to reduced fuel and labor expenses, heightened operational efficiency, and minimized soil compaction.

Yield monitoring applications held the largest share  of the precision farming market in 2022

Within the precision farming market, the application segment of yield monitoring emerged as the largest application in terms of market share. This dominance is underscored by the substantial advantages offered by climate service initiatives, empowering farmers to adeptly navigate climate-induced adversities and concurrently enhance food security while bolstering the quality of decision-making processes within the agricultural realm. Moreover, looking at the geographical landscape, the Asia-Pacific (APAC) region is poised to display the most noteworthy CAGR in the global market. This projection underscores the region's escalating interest and investment in precision farming technologies and practices, which are evidently contributing to the market's overall expansion and potential.

Precision Farming Industry Regional Analysis

The precision farming market in Asia Pacific is expected to witness the highest growth from 2023 to 2031.

The burgeoning wave of modernization sweeping through the agricultural sector, particularly evident in nations like China, India, and Indonesia, stands as a pivotal catalyst propelling the expansion of the precision farming industry within the region. With the populace in these developing countries experiencing substantial growth, an escalating demand for enhanced agricultural productivity exists. Consequently, this demographic pressure is serving as a compelling impetus for the agriculture industry to embrace precision farming equipment and practices, ultimately fostering the heightened adoption and implementation of precision farming technologies across the region.

Precision Farming Market by Region

Precision Farming Market Statistics by Region

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Top Precision Farming Companies - Key Market Players

These players increasingly undertake product launches and development strategies, expansions, partnerships, contracts, and acquisitions to increase their market share.

Precision Farming Market Report Scope

Report Metric

Details

Estimated Value

USD 9.7 billion in 2023

Expected Value 

USD 21.9 billion by 2031

Growth Rate

CAGR of 10.7%

Market Size Available for Years

2019–2031

Base Year

2022

Forecast Period

2023–2031

Forecast Unit

Value (USD Million/Billion)
Volume (Thousand Units)

Segments Covered

By Offering, By Technology, By Application, and By Region

Geographic Regions Covered

Americas, Europe, Asia Pacific, and Rest of the World (includes Middle East, Africa, and Russia)

Companies Covered

The major players include Deere & Company  (US), Trimble Inc. (US), AGCO Corporation (US), AgJunction LLC (US), Raven Industries, Inc. (US), AG Leader Technology (US), Teejet Technologies (US), Topcon (US), Taranis (Israel), AgEagle Aerial Systems Inc (US), ec2ce (Spain), Descartes Labs, Inc. (US), Granular Inc. (US), Hexagon AB (Brazil), Climate LLC (US), and CropX Inc. (Israel).

Total 25 companies profiled.

Precision Farming Market Highlights

This report categorizes the precision farming market share based on offering, technology, application, and geography available at the regional and global level

Segment

Subsegment

By Offering

  • Hardware
  • Software
  • Services

By Technology

  • Guidance Technology
  • Remote Sensing Technology
  • Variable Rate Technology

By Application

  • Yield Monitoring
  • Crop Scouting
  • Field Mapping
  • Variable Rate Application
  • Weather Tracking and Forecasting
  • Inventory Management
  • Farm Labor Management            
  • Financial Management
  • Others (Demand Forecasting, Customer Management, Payables and Receivables)

By Geography

  • Americas
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments in Precision Farming Industry

  • In July 2023, Deere & Company acquired Smart Apply, Inc. (US), a precision spraying equipment company. The acquisition aims to strengthen the emphasis on high-value crop customers and dealers, while also broadening the range of solutions available to assist growers in tackling their primary concerns regarding labor, input costs, and regulatory compliance.
  • In April 2023, AGCO Corporation revealed its partnership with Bosch BASF Smart Farming to introduce and market Smart Spraying technology on Fendt Rogator sprayers. Furthermore, both companies will collaborate to develop additional innovative features.
  • In August 2022, Trimble Inc. and CLAAS entered a strategic alliance to develop an advanced precision farming system for CLAAS tractors collaboratively, combines, and forage harvesters. The precision farming system comprises the cutting-edge CLAAS CEMIS 1200 smart display, GPS PILOT steering system, and the SAT 900 GNSS receiver. Within this system, the CEMIS display leverages Trimble's latest embedded modular software architecture, facilitating precise positioning, steering, and seamless connectivity to control and monitor implements in the field using ISOBUS technology.
  • In August 2022, Trimble Inc. entered into a definitive agreement to acquire Bilberry, a privately held French technology company known for its expertise in selective spraying systems for sustainable agriculture. Bilberry is at the forefront of using artificial intelligence (AI) technology to identify various weed species in real-time across a wide range of crops. This strategic acquisition will enhance Trimble's crop protection portfolio by incorporating green-on-green selective spraying capabilities and will further bolster their efforts in developing autonomous agricultural solutions.
  • In April 2022, Topcon and MyAgData have joined forces to enhance access and data sharing involving electronic grain cart load data, offering a more streamlined workflow for farmers and a more efficient remittance process for crop insurance adjusters.
  • In May 2021, and Class Telematics signed a partnership agreement wherein the Climate FieldView, and Class Telematics could connect through the Class API to exchange data for field and site-specific documentation easily. In January 2021, AGCO Corporation partnered with NEVONEX to help farmers use digital services and functions based on NEVONEX on its AGCO equipment.
  • In May 2021, Raven Industries announced the launch of its new autonomous product brand “OMNI.” This brand highlights the company’s capabilities in autonomous solutions

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INTRODUCTION
24
RESEARCH METHODOLOGY
30
EXECUTIVE SUMMARY
44
PREMIUM INSIGHTS
48
MARKET OVERVIEW
51
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Rapid adoption of advanced technologies in precision farming to reduce cost
    - Increased adoption of IoT devices in agricultural applications
    - High pressure on governments and farmers to meet surging demand for food
    - Integration of precision farming technologies into existing farm machinery
    RESTRAINTS
    - High costs of precision farming equipment
    - Small size of landholdings and limited availability of skilled workforce
    OPPORTUNITIES
    - Adoption of data analytics in agriculture sector
    - Emergence of multiple user-friendly smartphone applications for farmers
    - Rising use of AI-based solutions in precision farming
    - Adoption of digital technologies in sustainable farming
    CHALLENGES
    - Difficulties in collecting and analyzing data from multiple farms
    - Lack of standardized protocols and technologies
    - Data privacy issues and security concerns
    - Lesser reliability of internet connectivity and infrastructure for precision farming
  • 5.3 VALUE CHAIN ANALYSIS
  • 5.4 ECOSYSTEM MAPPING
  • 5.5 PRICING ANALYSIS
  • 5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
  • 5.7 TECHNOLOGY ANALYSIS
    ARTIFICIAL INTELLIGENCE
    IOT
    AGRICULTURAL DRONES/UNMANNED AERIAL VEHICLES (UAVS)
    BLOCKCHAIN TECHNOLOGY
    AUTONOMOUS FARM MACHINERY
  • 5.8 CASE STUDY ANALYSIS
    ACCENTURE HELPS PROAGRICA GATHER CRITICAL AGRICULTURAL DATA INSIGHTS
    AGCO HELPS FARMERS REDUCE INPUT COSTS AND ENHANCE REVENUE BY INTEGRATING FARMING EQUIPMENT INTO SINGLE PLATFORM
    AGJUNCTION HELPS EFARMERS DEVELOP AFFORDABLE AUTOSTEER
  • 5.9 PORTER’S FIVE FORCE ANALYSIS
    INTENSITY OF COMPETITIVE RIVALRY
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF BUYERS
    BARGAINING POWER OF SUPPLIERS
    THREAT OF NEW ENTRANTS
  • 5.10 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 5.11 TRADE ANALYSIS
    IMPORT DATA
    EXPORT DATA
  • 5.12 PATENT ANALYSIS
  • 5.13 KEY CONFERENCES AND EVENTS, 2023–2024
  • 5.14 REGULATORY LANDSCAPE
    CARBON POLICY TRENDS IN AGRICULTURE
    GROWING CLIMATE SOLUTIONS ACT
    REGULATIONS IN PRECISION FARMING AND SMART GREENHOUSES
    NORTH AMERICA
    EUROPE
    ASIA PACIFIC
    - China
    - India
    - Greenhouse farming subsidy in India
    REST OF THE WORLD
PRECISION FARMING MARKET, BY OFFERING
95
  • 6.1 INTRODUCTION
  • 6.2 HARDWARE
    AUTOMATION AND CONTROL SYSTEMS
    - Displays
    - Guidance and steering systems
    - GPS/GNSS devices
    - Drones/UAVs
    - Irrigation controllers
    - Handheld mobile devices/handheld computers
    - Flow and application control devices
    - Others
    SENSING AND MONITORING DEVICES
    - Yield monitors
    - Soil sensors
    - Water sensors
    - Climate sensors
  • 6.3 SOFTWARE
    LOCAL/WEB-BASED SOFTWARE
    - Easy accessibility of web-based delivery model to drive market
    CLOUD-BASED SOFTWARE
    - Growing popularity of software-as-a-service model to fuel demand for cloud technology
  • 6.4 SERVICES
    SYSTEM INTEGRATION AND CONSULTING SERVICES
    - Contribution to improved resource management and sustainable agriculture practices to drive market
    MANAGED SERVICES
    - Increasing demand for cloud-based software and platforms to contribute to market growth
    - Farm operation services
    - Data services
    - Analytics services
    CONNECTIVITY SERVICES
    - Ability to control precision farming technologies from centralized location to drive market
    ASSISTED PROFESSIONAL SERVICES
    - Significant focus on amplifying crop yields with optimized resource to create demand
    - Supply chain management services
    - Climate information services
    - Other assisted professional services
    MAINTENANCE AND SUPPORT SERVICES
    - Increased operational efficiency and reduced disruptions to drive market
PRECISION FARMING MARKET, BY TECHNOLOGY
128
  • 7.1 INTRODUCTION
  • 7.2 GUIDANCE TECHNOLOGY
    ABILITY TO COLLECT VITAL INFORMATION DURING OPERATIONS TO RESULT IN HIGH ADOPTION
    GPS/GNSS-BASED GUIDANCE TECHNOLOGY
    - Growing requirement for high-precision field maps and geospatial databases to facilitate market growth
    GIS-BASED GUIDANCE TECHNOLOGY
    - Integration of spatial data sources such as satellite imagery into farming tools to drive market
  • 7.3 REMOTE SENSING TECHNOLOGY
    SURGING DEMAND FOR COMPREHENSIVE REMOTE DATA COLLECTION TO BOOST DEMAND
    HANDHELD OR GROUND-BASED SENSING
    - High convenience of handheld sensors to boost demand
    SATELLITE OR AERIAL SENSING
    - Increased need for data-rich insights to drive market
  • 7.4 VARIABLE RATE TECHNOLOGY
    AMPLIFIED YIELD POTENTIAL AND MINIMIZED ENVIRONMENTAL IMPACT TO DRIVE MARKET
    MAP-BASED
    - Enhanced decision-making with data-driven insights to boost demand
    SENSOR-BASED
    - Integration of sensor-powered IoT and AI solutions to drive market
PRECISION FARMING MARKET, BY APPLICATION
144
  • 8.1 INTRODUCTION
  • 8.2 YIELD MONITORING
    INCREASING DEMAND FOR REAL-TIME DATA ON YIELDS AND HARVESTED CROPS TO STRENGTHEN SEGMENTAL GROWTH
    ON-FARM YIELD MONITORING
    OFF-FARM YIELD MONITORING
  • 8.3 CROP SCOUTING
    RISING NEED TO MANAGE CROPS EFFECTIVELY TO BOOST DEMAND
    PRE-SEEDING CROP SCOUTING
    POST-SEEDING CROP SCOUTING
    CROP MONITORING
  • 8.4 FIELD MAPPING
    INCREASING DEMAND FOR SOIL IDENTIFICATION TO SUPPORT MARKET GROWTH
    BOUNDARY MAPPING
    DRAINAGE MAPPING
  • 8.5 VARIABLE RATE APPLICATION
    GROWING NEED FOR COST AND RESOURCE EFFICIENCY TO BOOST DEMAND
    PRECISION IRRIGATION
    PRECISION SEEDING
    PRECISION FERTILIZATION
    - Nitrogen VRA
    - Phosphorous VRA
    - Lime VRA
    OTHER VARIABLE RATE APPLICATIONS
  • 8.6 WEATHER TRACKING AND FORECASTING
    INCREASING CLIMATE VARIABILITY TO DRIVE MARKET
  • 8.7 INVENTORY MANAGEMENT
    GROWING DEMAND FOR GPS FOR INVENTORY MANAGEMENT TO PROPEL MARKET
  • 8.8 FARM LABOR MANAGEMENT
    INCREASING NEED FOR EFFECTIVE HANDLING OF LABOR TO DRIVE DEMAND
  • 8.9 FINANCIAL MANAGEMENT
    RISING USE OF FINANCIAL MANAGEMENT SOLUTIONS BY FARMERS OR GROWERS TO MAKE STRATEGIC DECISIONS TO DRIVE MARKET
  • 8.10 OTHERS
PRECISION FARMING MARKET, BY REGION
167
  • 9.1 INTRODUCTION
  • 9.2 AMERICAS
    IMPACT OF RECESSION ON MARKET IN AMERICAS
    NORTH AMERICA
    - US
    - Canada
    - Mexico
    SOUTH AMERICA
    - Brazil
    - Argentina
    - Rest of South America
  • 9.3 EUROPE
    IMPACT OF RECESSION ON MARKET IN EUROPE
    UK
    - Active participation of universities in UK to develop advanced precision farming tools to drive market growth
    GERMANY
    - Technological advancements in agriculture sector to drive market
    FRANCE
    - Increasing startup companies in agriculture sector to support market growth
    ITALY
    - Rapid agricultural innovations in country to drive market
    NETHERLANDS
    - Launch of harvesting robots to offer lucrative opportunities
    REST OF EUROPE
  • 9.4 ASIA PACIFIC
    IMPACT OF RECESSION ON MARKET IN ASIA PACIFIC
    CHINA
    - Government incentives and developments in agriculture field to drive market
    JAPAN
    - Application of precision technology through robotic equipment to drive market
    AUSTRALIA
    - Initiatives by organizations for development of agriculture sector to drive market
    INDIA
    - Government initiatives and growing collaborations among players to benefit market
    SOUTH KOREA
    - Establishment of smart farming villages with advanced technologies to drive market
    REST OF ASIA PACIFIC
  • 9.5 REST OF THE WORLD
    IMPACT OF RECESSION ON MARKET IN REST OF THE WORLD
    MIDDLE EAST
    - Growing partnership by government with private sector players in precision farming market to drive market
    AFRICA
    - Growing use of drones and other agricultural machinery to strengthen market in Africa
    RUSSIA
    - Government initiatives to promote precision farming to drive market
COMPETITIVE LANDSCAPE
200
  • 10.1 OVERVIEW
  • 10.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS
    PRODUCT PORTFOLIO
    REGIONAL FOCUS
    MANUFACTURING FOOTPRINT
    ORGANIC/INORGANIC GROWTH STRATEGIES
  • 10.3 MARKET SHARE ANALYSIS, 2022
  • 10.4 FIVE-YEAR COMPANY REVENUE ANALYSIS OF TOP COMPANIES, 2018–2022
  • 10.5 COMPANY EVALUATION MATRIX, 2022
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    PRECISION FARMING MARKET: COMPANY FOOTPRINT
  • 10.6 STARTUPS/SMES EVALUATION MATRIX, 2022
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
  • 10.7 COMPETITIVE BENCHMARKING
  • 10.8 COMPETITIVE SCENARIOS AND TRENDS
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
223
  • 11.1 KEY PLAYERS
    DEERE & COMPANY
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    TRIMBLE INC.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    AGCO CORPORATION
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.)
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    AGJUNCTION LLC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    AG LEADER TECHNOLOGY
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    AGEAGLE AERIAL SYSTEMS INC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    TOPCON
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    CLIMATE LLC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    TEEJET TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
  • 11.2 OTHER PLAYERS
    HEXAGON AB
    ABACO S.P.A.
    PRECISION HAWK
    EC2CE
    DESCARTES LABS, INC.
    CROPX INC.
    FARMERS EDGE INC.
    GROWNETICS
    CROPIN TECHNOLOGY SOLUTIONS PRIVATE LIMITED
    GAMAYA
    KUBOTA CORPORATION
    CNH INDUSTRIAL N.V.
    DICKEY-JOHN CORPORATION
    TELUS
    THE YIELD TECHNOLOGY SOLUTIONS PTY LTD.
APPENDIX
286
  • 12.1 DISCUSSION GUIDE
  • 12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 12.3 CUSTOMIZATION OPTIONS
  • 12.4 RELATED REPORTS
  • 12.5 JAPAN CUSTOMIZATION
  • 12.6 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY
  • TABLE 2 ROLE OF KEY PLAYERS IN PRECISION FARMING ECOSYSTEM
  • TABLE 3 PORTER’S FIVE FORCES IMPACT ON PRECISION FARMING MARKET
  • TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
  • TABLE 5 KEY BUYING CRITERIA, BY END USERS
  • TABLE 6 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 7 EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
  • TABLE 8 PRECISION FARMING MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023
  • TABLE 9 TOP 20 US PATENT OWNERS IN LAST 10 YEARS, 2013–2022
  • TABLE 10 REGULATIONS: PRECISION FARMING AND SMART GREENHOUSES
  • TABLE 11 AGRICULTURE SUBSIDIES FOR INDIAN FARMERS FROM CENTRAL AND STATE GOVERNMENTS (USD BILLION)
  • TABLE 12 PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 13 PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 14 PRECISION FARMING MARKET, BY HARDWARE, 2019–2022 (USD MILLION)
  • TABLE 15 PRECISION FARMING MARKET, BY HARDWARE, 2023–2031 (USD MILLION)
  • TABLE 16 HARDWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 17 HARDWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 18 HARDWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 19 HARDWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 20 AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
  • TABLE 21 AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)
  • TABLE 22 AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 23 AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 24 DRONES/UAVS: PRECISION FARMING MARKET, BY VOLUME, 2019–2022 (MILLION UNITS)
  • TABLE 25 DRONES/UAVS: PRECISION FARMING MARKET, BY VOLUME, 2023–2031 (MILLION UNITS)
  • TABLE 26 SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
  • TABLE 27 SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)
  • TABLE 28 SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 29 SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 30 SOIL SENSORS: PRECISION FARMING MARKET, BY SENSOR TYPE, 2019–2022 (USD MILLION)
  • TABLE 31 SOIL SENSORS: PRECISION FARMING MARKET, BY SENSOR TYPE, 2023–2031 (USD MILLION)
  • TABLE 32 SOFTWARE: PRECISION FARMING MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
  • TABLE 33 SOFTWARE: PRECISION FARMING MARKET, BY DEPLOYMENT TYPE, 2023–2031 (USD MILLION)
  • TABLE 34 SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 35 SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 36 SOFTWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 37 SOFTWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 38 LOCAL/WEB-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 39 LOCAL/WEB-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 40 CLOUD-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 41 CLOUD-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 42 SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
  • TABLE 43 SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)
  • TABLE 44 SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 45 SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 46 SERVICES: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 47 SERVICES: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 48 SYSTEM INTEGRATION AND CONSULTING SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 49 SYSTEM INTEGRATION AND CONSULTING SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 50 MANAGED SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
  • TABLE 51 MANAGED SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)
  • TABLE 52 MANAGED SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 53 MANAGED SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 54 CONNECTIVITY SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 55 CONNECTIVITY SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 56 ASSISTED PROFESSIONAL SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 57 ASSISTED PROFESSIONAL SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 58 MAINTENANCE AND SUPPORT SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 59 MAINTENANCE AND SUPPORT SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 60 PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 61 PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 62 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 63 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 64 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 65 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 66 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 67 GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 68 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 69 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 70 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 71 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 72 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 73 REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 74 TYPES OF SATELLITE REMOTE SENSING IMAGE RESOLUTION
  • TABLE 75 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 76 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 77 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 78 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 79 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 80 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 81 PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 82 PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
  • TABLE 83 BENEFITS OF YIELD MONITORING
  • TABLE 84 YIELD MONITORING: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 85 YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 86 YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 87 YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 88 CROP SCOUTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 89 CROP SCOUTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 90 FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 91 FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 92 FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 93 FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 94 VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 95 VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 96 VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)
  • TABLE 97 VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
  • TABLE 98 WEATHER TRACKING AND FORECASTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 99 WEATHER TRACKING AND FORECASTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 100 INVENTORY MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 101 INVENTORY MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 102 FARM LABOR MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 103 FARM LABOR MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 104 FINANCIAL MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 105 FINANCIAL MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 106 OTHERS: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 107 OTHERS: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 108 PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 109 PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
  • TABLE 110 AMERICAS: PRECISION FARMING MARKET, 2019–2022 (USD MILLION)
  • TABLE 111 AMERICAS: PRECISION FARMING MARKET, 2023–2031 (USD MILLION)
  • TABLE 112 AMERICAS: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 113 AMERICAS: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 114 AMERICAS: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 115 AMERICAS: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
  • TABLE 116 AMERICAS: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 117 AMERICAS: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 118 NORTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 119 NORTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
  • TABLE 120 SOUTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 121 SOUTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
  • TABLE 122 EUROPE: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 123 EUROPE: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
  • TABLE 124 EUROPE: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 125 EUROPE: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 126 EUROPE: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 127 EUROPE: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
  • TABLE 128 EUROPE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 129 EUROPE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 130 ASIA PACIFIC: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 131 ASIA PACIFIC: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
  • TABLE 132 ASIA PACIFIC: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 133 ASIA PACIFIC: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 134 ASIA PACIFIC: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 135 ASIA PACIFIC: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
  • TABLE 136 ASIA PACIFIC: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 137 ASIA PACIFIC: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 138 REST OF THE WORLD: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
  • TABLE 139 REST OF THE WORLD: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
  • TABLE 140 REST OF THE WORLD: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
  • TABLE 141 REST OF THE WORLD: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)
  • TABLE 142 REST OF THE WORLD: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
  • TABLE 143 REST OF THE WORLD: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
  • TABLE 144 REST OF THE WORLD: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
  • TABLE 145 REST OF THE WORLD: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
  • TABLE 146 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PRECISION FARMING PROVIDERS
  • TABLE 147 PRECISION FARMING MARKET: DEGREE OF COMPETITION, 2022
  • TABLE 148 COMPANY FOOTPRINT
  • TABLE 149 OFFERING FOOTPRINT
  • TABLE 150 APPLICATION FOOTPRINT
  • TABLE 151 REGION FOOTPRINT
  • TABLE 152 PRECISION FARMING MARKET: LIST OF KEY STARTUPS
  • TABLE 153 PRECISION FARMING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 154 PRECISION FARMING MARKET: PRODUCT LAUNCHES, 2020–2023
  • TABLE 155 PRECISION FARMING MARKET: DEALS, 2020–2023
  • TABLE 156 DEERE & COMPANY: COMPANY OVERVIEW
  • TABLE 157 TRIMBLE INC.: COMPANY OVERVIEW
  • TABLE 158 AGCO CORPORATION: COMPANY OVERVIEW
  • TABLE 159 RAVEN INDUSTRIES, INC.: COMPANY OVERVIEW
  • TABLE 160 AGJUNCTION LLC: COMPANY OVERVIEW
  • TABLE 161 AG LEADER TECHNOLOGY: COMPANY OVERVIEW
  • TABLE 162 AGEAGLE AERIAL SYSTEMS INC: COMPANY OVERVIEW
  • TABLE 163 TOPCON: COMPANY OVERVIEW
  • TABLE 164 CLIMATE LLC: BUSINESS OVERVIEW
  • TABLE 165 TEEJET TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 166 JAPAN: PRECISION FARMING MARKET, BY OFFERING, 2018–2021 (USD MILLION)
  • TABLE 167 JAPAN: PRECISION FARMING MARKET, BY OFFERING, 2022–2030 (USD MILLION)
  • TABLE 168 JAPAN: PRECISION FARMING MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
  • TABLE 169 JAPAN: PRECISION FARMING MARKET, BY APPLICATION, 2022–2030 (USD MILLION)
  • TABLE 170 JAPAN: PRECISION FARMING MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
  • TABLE 171 JAPAN: PRECISION FARMING MARKET, BY TECHNOLOGY, 2022–2030 (USD MILLION)
LIST OF FIGURES
 
  • FIGURE 1 PRECISION FARMING MARKET: SEGMENTATION
  • FIGURE 2 PRECISION FARMING MARKET: RESEARCH DESIGN
  • FIGURE 3 PROCESS FLOW OF MARKET SIZE ESTIMATION
  • FIGURE 5 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY APPROACH 1 (SUPPLY SIDE)
  • FIGURE 6 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY APPROACH 2 (SUPPLY SIDE)
  • FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - DEMAND SIDE
  • FIGURE 9 DATA TRIANGULATION METHODOLOGY
  • FIGURE 10 RISK ASSESSMENT
  • FIGURE 11 PRECISION FARMING MARKET, 2019–2031 (USD MILLION)
  • FIGURE 12 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF PRECISION FARMING MARKET, BY OFFERING, DURING FORECAST PERIOD
  • FIGURE 13 GUIDANCE TECHNOLOGY TO CLAIM LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 14 YIELD MONITORING APPLICATION TO SECURE LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 15 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN GLOBAL PRECISION FARMING MARKET DURING FORECAST PERIOD
  • FIGURE 16 RISING PREFERENCE FOR PRECISION FARMING AMONG FARMERS/GROWERS TO OFFER GROWTH OPPORTUNITIES FOR MARKET PLAYERS
  • FIGURE 17 HARDWARE SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
  • FIGURE 18 YIELD MONITORING SEGMENT TO HOLD LARGEST MARKET SHARE IN 2031
  • FIGURE 19 GUIDANCE TECHNOLOGY SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
  • FIGURE 20 AMERICAS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 22 DRIVERS: PRECISION FARMING MARKET
  • FIGURE 23 RESTRAINTS: PRECISION FARMING MARKET
  • FIGURE 24 OPPORTUNITIES: PRECISION FARMING MARKET
  • FIGURE 25 CHALLENGES: PRECISION FARMING MARKET
  • FIGURE 26 PRECISION FARMING MARKET: VALUE CHAIN ANALYSIS
  • FIGURE 27 KEY PLAYERS IN PRECISION FARMING ECOSYSTEM
  • FIGURE 28 PRICING ANALYSIS OF PRECISION FARMING
  • FIGURE 29 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN PRECISION FARMING MARKET
  • FIGURE 30 PRECISION FARMING MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 31 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END USERS
  • FIGURE 32 KEY BUYING CRITERIA FOR TOP THREE END USERS
  • FIGURE 33 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
  • FIGURE 34 EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
  • FIGURE 35 TOP 10 COMPANIES WITH LARGEST NUMBER OF PATENT APPLICATIONS FOR PRECISION FARMING, (2013–2022)
  • FIGURE 36 NUMBER OF PATENTS GRANTED FROM 2013–2022
  • FIGURE 37 SERVICES SEGMENT TO RECORD HIGHEST CAGR IN PRECISION FARMING MARKET DURING FORECAST PERIOD
  • FIGURE 38 VARIABLE RATE TECHNOLOGY TO EXHIBIT HIGHEST CAGR IN PRECISION FARMING MARKET DURING FORECAST PERIOD
  • FIGURE 39 WEATHER TRACKING AND FORECASTING APPLICATIONS TO RECORD HIGHEST CAGR FROM 2023 TO 2031
  • FIGURE 40 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 41 AMERICAS: PRECISION FARMING MARKET SNAPSHOT
  • FIGURE 42 EUROPE: PRECISION FARMING MARKET SNAPSHOT
  • FIGURE 43 ASIA PACIFIC: PRECISION FARMING MARKET SNAPSHOT
  • FIGURE 44 RUSSIA HELD LARGEST MARKET SHARE IN REST OF THE WORLD IN 2022
  • FIGURE 45 FIVE-YEAR COMPANY REVENUE ANALYSIS OF LEADING MARKET PLAYERS
  • FIGURE 46 PRECISION FARMING: COMPANY EVALUATION MATRIX, 2022
  • FIGURE 47 PRECISION FARMING MARKET: STARTUPS/SMES EVALUATION MATRIX, 2022
  • FIGURE 48 DEERE & COMPANY: COMPANY SNAPSHOT
  • FIGURE 49 TRIMBLE INC.: COMPANY SNAPSHOT
  • FIGURE 50 AGCO CORPORATION: COMPANY SNAPSHOT
  • FIGURE 51 RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.): COMPANY SNAPSHOT
  • FIGURE 52 AGEAGLE AERIAL SYSTEMS INC: BUSINESS OVERVIEW

 

The determination of the precision farming market's size encompassed four primary endeavors. Extensive secondary research was conducted to accumulate pertinent data concerning the market, its comparable markets, and its overarching parent market. Primary research was subsequently conducted to authenticate essential discoveries, presumptions, and measurements with industry experts spanning the precision farming market's value chain. Both top-down and bottom-up methodologies were employed to ascertain the comprehensive market size. This was succeeded by implementing market breakdown and data triangulation techniques to gauge the dimensions of distinct segments and subsegments within the market.

Secondary Research

The research approach employed to gauge and predict the dimensions of the precision farming market commenced by procuring data on key vendors' revenues within the market using secondary research techniques. The secondary research applied in this study encompassed resources such as magazines, journals, and AgTech associations. Additionally, secondary sources, directories, and databases like Hoovers, Bloomberg Businessweek, Factiva, and OneSource were used to identify and amass information essential for a comprehensive technical, market-centric, and commercial evaluation of the precision farming market. The market segmentation was established by considering the offerings of various vendors. The comprehensive research methodology entailed scrutinizing companies' annual reports, press releases, investor presentations, authoritative white papers, certified publications, articles by recognized authors, directories, and databases.

Primary Research

After gaining insights into the precision farming market landscape from secondary research, a thorough primary research phase was conducted. This involved multiple interviews with industry experts representing both demand and supply-side participants across key regions: Americas, Europe, Asia Pacific, and the Middle East, Africa, and South America. A diverse range of primary sources from both sides of the market were engaged in order to obtain qualitative and quantitative insights. The primary data collection utilized methods such as questionnaires, emails, and telephonic interviews. To ensure a comprehensive perspective in our report, these efforts spanned various departments within organizations, including sales, operations, and administration.

Furthermore, interactions with industry experts were followed by concise sessions with seasoned independent consultants to corroborate the findings obtained from primary research. These insights, combined with the perspectives of our in-house subject matter experts, form the basis for the conclusions presented in the rest of this report.

Precision Farming Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of precision farming market and its segments. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research
  • The supply chain and the size of the precision farming  market, in terms of value, have been determined through primary and secondary research processes
  • Several primary interviews have been conducted with key opinion leaders related to precision farming market including key OEMs, IDMs, and Tier I suppliers
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size

Global Precision Farming Market Size: Bottom-Up Approach

Precision Farming Market Size, and Bottom-Up Approach

Global Precision Farming Market Size: Top-down Approach

Precision Farming Market Size, and Top-down Approach

Data Triangulation

Following the determination of the comprehensive market size using the outlined market size estimation methodology, the market was subsequently partitioned into multiple segments and subsegments. To ensure the precision of the entire market engineering procedure, data triangulation and market breakdown methodologies were applied, whenever relevant, to ascertain precise statistics for each individual segment and subsegment within the market. The process of data triangulation involved a meticulous examination of diverse factors and trends originating from both the demand and supply perspectives of the precision farming market. This meticulous approach was taken to ensure a comprehensive and accurate evaluation of the market's various components.

Market Definition

Precision farming, also known as precision agriculture, is a modern farming management concept involving advanced technologies to monitor and optimize agricultural processes. Precision farming is based on optimizing field inputs according to crop needs. Data-based technologies, including satellite positioning systems such as Global Positioning System (GPS), remote sensing, and variable rate technology (VRT), are used in precision farming to manage crops and optimize the use of resources such as fertilizers, pesticides, and water. The precision farming market is highly diversified and competitive, with a large number of market players. Major market players are acquiring small players to expand their offerings worldwide. Guidance technology witnessed early adoption by farmers or growers as it allows growers to reduce overlapping of equipment and tractor passes, saving fuel, labor, time, and soil compaction.

Stakeholders

  • Precision farming component providers
  • Precision farming integrators and installers
  • Precision farming solution providers
  • Consulting companies
  • Product manufacturers
  • Precision farming software providers
  • Precision farming-related associations, organizations, forums, and alliances
  • Government and corporate bodies
  • Research institutes and organizations
  • Venture capitalists, private equity firms, and start-ups
  • Distributors and traders
  • OEMs
  • End users
  • Research institutes and organizations
  • Market research and consulting firms
  • Agri-food buyers
  • Agriculture technology providers

Report Objectives

  • To describe and forecast the precision farming market size, in terms of value, based on offering, technology, Application and Geography.
  • To describe and forecast the precision farming market size, in terms of value, for various segments with respect to 4 key regions, namely, Americas, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
  • To provide a detailed overview of the precision farming value chain
  • To strategically profile the key players and comprehensively analyze their market ranking in terms of revenue and core competencies
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the precision farming market
  • To map competitive intelligence based on company profiles, strategies of key players, and game-changing developments such as product launches, partnerships, collaborations, and agreements undertaken in the precision farming market

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
  • Additional country-level analysis of the precision farming market
  • Estimation of the market size of the segments of the precision farming market based on different subsegments
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
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