Precision Farming Market - Trends Forecast Till 2028

Precision Farming Market, by Technology (Guidance, VRT, Remote Sensing), Application (Crop Scouting, Field Mapping, Variable Rate Application), Offering (Hardware—Sensors, GPS, Yield Monitors; Software; Services) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-SE-PFM-374

Format:  

Number of Pages: 283

Domain: Semiconductors & Electronics

Precision Farming Market – Trends Forecast Till 2028

The global Precision Farming market size is projected to reach USD 13 billion by 2026 at a CAGR of 12.8% from USD 7.3 billion in 2021 during the forecast period 2021-2028.

Precision farming is an approach of farming wherein the inputs from the farm is used to increase the upcoming yield. Since theses inputs are looked at very precisely and thus it named so. This helps to overcome the problem of increasing productivity without significant increase in the area of land. This also enable the farmer to have more control over the production system and management of the farm.

Due to the increased demand for agricultural product along with support from the government the technological advancements and acceptance in the sector are some of the factors that have supported long-term expansion for Precision Farming Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. Supply chains were highly affected but the sector showed only marginal decrease during the pandemic due to the new opportunities developed by the interaction of farmers and the technology.

Precision Farming Market Analysis

America is expected to be the largest market during the forecast period. Due to the early adoption of technology along with precise farming system have led to growth in the commercial refrigeration equipment in the region. To add on the reduced labour cost, growing population and increased requirement of productivity from the same area of land have also contributed to the market development.

Precision Farming Market is segmented into Technology, Offering, Application and geography.

On the basis of Application

  • Yield Monitoring
  • Crop Scouting
  • Field Mapping
  • Variable Rate Application
    • Precision Irrigation
    • Precision Seeding
    • Precision Fertilization
      • Nitrogen VRA      
      • Phosphorous VRA             
      • Lime VRA            
      • Pesticide VR
  • Weather Tracking & Forecasting
  • Inventory Management
  • Farm Labor Management
  • Financial Management
  • Others (Demand Forecasting, Customer Management, Payables and Receivables, Profit Center Analysis, and Tax Management)

On the basis of Technology

  • Guidance Technology
    • GPS/GNSS-Based Guidance Technology
    • GIS-based Guidance Technology
  • Remote Sensing Technology
    • Handheld or Ground-based Sensing
    • Satellite or Aerial Sensing
  • Variable-Rate Technology
    • Map-based VRT
    • Sensor-based VRT

On the basis of Offering

  • 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 (Standalone Cameras, Small Electronic Components in the Boom Spray, and Data Loggers)
  • Sensing and Monitoring Devices
    • Yield Monitors
    • Soil Sensors
      • Moisture Sensors
      • Temperature Sensors
      • Nutrient Sensors  
    • Water Sensors
    • Climate Sensors
  • Software
    • Local/Web Based
    • Cloud Based
  • Services
    • System Integration and Consulting Services
    • Managed Services
    • Connectivity Services
    • Assisted Professional Services
    • Maintenance and Support Services

On the basis of Region

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

Insights are provided for each region and major countries within the regions

Precision Farming Market Primary Respondent

 

Key Players

  • Deere & Company
  • Trimble
  • AGCO Corporation
  • AgJunction
  • Raven Industries
  • AG Leader
  • Taranis
  • AgEagle
  • Teejet Technologies
  • The Climate Corporation
  • Topcon Positioning Systems
  • Descartes Labs
  • ec2ce
  • Prospera Technologies
  • Autonomous Tractor Corporation
  • Hexagon Agriculture
  • CropX Technologies
  • Granular
  • Autocopter Corp

Recent Developments

  • In January 2020, the new Fendt Momentum planter was introduced by AGCO for row crop farmers in North America.
  • In November 2019, Raven Industries completed the acquisition of Smart Ag Inc., which is a tech company that develops autonomous farming solutions in order to become the industry leader in autonomous agriculture solutions.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Precision Farming market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 7.3 billion

Growth Rate

CAGR of 12.8% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Technology, Offering, Application and geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries, AG Leader, Taranis, AgEagle, Teejet Technologies, The Climate Corporation, Topcon Positioning Systems, Descartes Labs, ec2ce, Prospera Technologies, Autonomous Tractor Corporation, Hexagon Agriculture, CropX Technologies, Granular, and Autocopter Corp

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