The study involved major activities in estimating the current size of the precision farming market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. To validate these findings, assumptions, and sizing with industry experts across the supply chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments. Secondary and primary sources have been used to identify and collect information for an extensive technical and commercial study of the precision farming market.
Secondary Research
Secondary research for this study involved gathering information from various credible sources such as company reports, white papers, journals, and industry publications. This process helped in understanding the supply and value chains, identifying key players, analyzing market segmentation and regional trends, and tracking major market and technology developments. The data collected was used to estimate the overall market size, which was later validated through primary research.
Primary Research
Extensive primary research was conducted after gaining knowledge about the current scenario of the precision farming market through secondary research. Several primary interviews were conducted with experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific and RoW. This primary data was collected through questionnaires, emails, and telephonic interviews.
Notes: RoW mainly comprises the Middle East, Africa, and South America.
Other designations include product managers, sales managers, and marketing managers.
Three tiers of companies have been defined based on their total revenue as of 2024; tier 3: revenue lesser than USD 500 million; tier 2: revenue between USD 500 million and 1 billion; and tier 1: revenue more than USD 1 billion.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The bottom-up procedure has been employed to arrive at the overall size of the precision farming market.
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Analyzed major precision farming hardware, software, and service providers, studied their portfolios, and understood products/solutions/services based on their features and functions
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Analyzed the segmental revenue and scope revenue of the companies profiled in the study
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Arrived at the global precision farming market size by adding the scope revenue of key manufacturers in the market
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Conducted multiple discussions with key opinion leaders to understand different precision farming offering (hardware, software, and service), technology, applications, and current trends in the market, and analyzed the breakup of the scope of study by major precision farming hardware, software, and service providers
The top-down approach has been used to estimate and validate the total size of the precision farming market.
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The global size of the precision farming market was estimated through the data sanity of major companies offering precision farming products/solutions/services.
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The geographic penetration splits were estimated using secondary sources, based on several factors, such as the number of players in a specific region (North America, Europe, Asia Pacific, and RoW).
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The country-level penetration split was analyzed for each region to estimate the market size.
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The market size for the global offering (hardware, software, and service) was determined by understanding the penetration split of each offering in each region.
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The market size for the global application segments was estimated by analyzing the penetration split of each offering for each application.
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The market size for the global technology segments was estimated by analyzing the penetration split of each offering for each technology.
Precision Farming Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides in the precision farming market.
Market Definition
Precision farming, also referred to as precision agriculture, is a modern farm management approach that utilizes advanced technologies to monitor and enhance agricultural operations. It focuses on aligning field inputs with specific crop requirements. Technologies such as satellite positioning systems, including global positioning system (GPS), remote sensing, and variable rate technology (VRT), are used to manage crops efficiently and optimize the use of resources such as fertilizers, pesticides, and water.
Key Stakeholders
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Precision farming component providers
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Precision farming integrators and installers
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Precision farming solution providers
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Product manufacturers
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Precision farming-related associations, organizations, forums, and alliances
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Government and corporate bodies
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Research institutes and organizations
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Venture capitalists, private equity firms, and start-ups
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Distributors and traders
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OEMs
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End users
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Market research and consulting firms
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Agri-food buyers
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Agriculture technology providers
Report Objectives
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To define, describe, and forecast the size of the precision farming market, by offering, technology, application, and region, in terms of value
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To describe and forecast the size of the precision farming market, by offering, in terms of volume
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To forecast the market for various segments with respect to the main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), in terms of value
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To provide macroeconomic outlooks with respect to main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
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To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the market’s growth
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
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To provide ecosystem analysis, value chain, trends/disruptions impacting customer business, technology analysis, pricing analysis, technology analysis, key stakeholders & buying criteria, case study analysis, trade analysis, patent analysis, Porter’s five forces, key conferences & events, AI impact, impact of 2025 US tariff, and regulations related to the precision farming market
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To analyze the opportunities in the market for stakeholders by identifying high-growth segments and detailing the competitive landscape for market players
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To strategically profile key players and comprehensively analyze their market rankings, core competencies, company valuation, and financial metrics, and product/brand comparison, along with detailing the competitive landscape for the market leaders
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To analyze the competitive developments, such as product launches, software launches, agreements, collaborations, joint ventures, and acquisitions, carried out by market players
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To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product developments, collaborations, and acquisitions
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To benchmark players within the market using the competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio.
Available customizations:
With the given market data, MarketsandMarkets offers customizations according to the company‘s specific needs. The following customization options are available for the report.
Company Information
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Detailed analysis and profiling of additional market players (up to five)
LARGEST MARKET SHARE IN 2025-2030
SIGNIFICANT FASTER-GROWING MARKET IN REGION
User
Sep, 2019
Penetration of IoT and AI technologies in agriculture is increasing at rapid pace. Every year we are witnessing a large number of startups enetering this space. Does your report covers startups data and strategies adopted by them ?.
User
Sep, 2019
Automated Guidance steering, GPS, and remore sensing are playing critical role in automation of farm machinery and increasing productivity of farms. Does your report cover agricultural machinery automation data and their adoption trend?.
User
Apr, 2021
What is the future of Precision Farming in terms of Technology? What are the companies working on?.
User
Sep, 2019
I would require some market analysis, data and figures about the current and forecasted oeriod for precision agriculture market.
harshdeep
Dec, 2020
I need the detail of how many farmers have adopted precision farming and the results of the precision farming market when it comes out..
User
Nov, 2019
Have you included eastern European countries in your analysis. My focus is on major players in Estern Europe and Africa. What data you can provide? .
User
Mar, 2019
I would like to know the number of devices sold for both crop and livestock related precision Ag hardware, not just the dollar value of the market size..