Precision Farming Market

Precision Farming Market by Technology (Guidance System, VRT, Remote Sensing), Precision Farming Application (Crop Scouting, Field Mapping, Irrigation), Precision Farming Offering (Hardware-Sensors, GPS/GNSS, Yield Monitors, Software, Services), and Geography - Global Forecast to 2023

Report Code: SE 2831 May, 2018, by marketsandmarkets.com

The precision farming market was valued at USD 5.1 billion in 2018 and is projected to reach USD 9.5 billion by 2023, at a CAGR of 13% between 2018 and 2023. The major drivers for the precision farming market includes increasing farm mechanization in developing countries, increasing labor cost owing to shortage of skilled labor, increasing strain on the global food supply owing to increasing population, substantial cost savings associated with precision farming techniques, and government initiatives to adopt modern agricultural techniques. Precision farming is gaining tremendous popularity among farmers due to the increasing need for optimum crop production with limited available resources. Further, the changing weather patterns due to increasing global warming have impelled the adoption of advanced farming technologies to enhance farm productivity and crop yield. The precision farming has the potential to transform the agricultural sector, making the traditional farming activity more efficient and predictable. Increasing global food demand, extended profitability and crop yield, and crop health monitoring for higher yield production are the major factors fueling the growth of the precision farming market. Also, government initiatives in many country are helping farmers to use optimized agricultural and technological tools to improve their production levels.

Precision Farming Market

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

“Market for the hardware required in precision farming is expected to hold the largest share during the forecast period.”

On the basis of offering, the precision farming market has been classified into hardware, software, and services. Hardware held the largest market share in 2018 owing to the high adoption of automation and control devices–drones/UAVs, GPS/GNSS, irrigation controllers, guidance and steering systems, yield monitors, and sensors. The increasing adoption of new technologies and advanced devices for precision farming is expected to drive the growth of the precision farming market for hardware. The precision farming market for services is expected to grow at the highest CAGR during the forecast period. Increasing demand for managed services is the major factor contributing to the growth of precision farming services market.

“Guidance technology expected to hold the largest market share from 2018 to 2023.”

Guidance technology held the largest market size owing to the early adoption of this technology by farmers or growers. GPS-based guidance technology allow growers to reduce overlapping of equipment and tractor passes, thus saving fuel, labor, time, and soil compaction. The main components needed for a guidance technology based system or device are a GPS/GNSS, DGPS receiver, antenna, controller, guidance & steering, handheld devices and display, along with the accompanying wiring harness. Other optional items include a data logger, sound device, or visual display. Guidance technology has been categorized into GPS/GNSS based guidance technology and GIS based guidance technology.

“Yield monitoring application is expected to hold the largest market share from 2018 to 2023.”

The precision farming market has been segmented on the basis of application into yield monitoring, field mapping, crop scouting, weather tracking and forecasting, irrigation management, inventory management, farm labor management, financial management, and others. Yield monitoring is the most widely used application in precision farming as it plays a vital role in understanding field variability and helps farmers in maximizing their yields. Yield monitoring is a tool to collect data and identify the yield variability in the field precisely. The interpretation of this data facilitates a farmer to take effective decisions. Yield monitors are combinations of various components that include mass flow sensors, moisture sensors, ground speed sensors, GPS receivers, and a task computer that is located in the vehicle that controls the integration and interaction of these components.

“Americas expected to account for the largest market share from 2018 to 2023.”

On the basis of region, the precision farming market has been classified into the Americas, Europe, APAC, and RoW. The Americas held the largest share of the precision farming market in 2018. Countries such as the US and Canada in the Americas are the early adopters of precision farming technologies, which is the major reason for the high share of this region in the precision farming market. Farmers or growers in this region are increasingly adopting advanced farming systems and equipment such as steering and guidance systems, sensors, display devices, and farm management software.

A major factor restraining the growth of the precision farming market is the high initial investment and lack of technical knowledge among farmers. Precision farming requires high initial investment, efficient farming tools, and skilled and knowledgeable farmers or growers, among others, making farmers apprehensive to use this technology.

Key players in the precision farming market include Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader (US), Precision Planting (US), The Climate Corporation (US), CropMetrics (US), Agribotix (US), Topcon Positioning Systems (US), Descartes Labs (US), ec2ce (Spain), Gamaya (Switzerland), and Decisive Farming (Canada). These players adopt various strategies, such as new product developments, mergers, partnerships, collaborations, and expansions, to cater to customer demands.

Report Scope

Report Metric

Details

Market size available for years

2015-2023

 Base year considered

2017

 Forecast period

2018-2023

 Forecast units

Value (USD)

 Segments covered

Technology, Offering, Application, and Region

 Geographies covered

Americas, Europe, APAC, and RoW

 Companies covered

Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader Technology  (US), Precision Planting (US), SST Development Group (US), Teejet Technologies (US), and Topcon Positioning Systems (US).
Total 20 major players covered

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of Study
    1.2 Definition
    1.3 Scope of Study
           1.3.1 Markets Covered
           1.3.2 By Geography
           1.3.3 Years Considered for Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Opportunities in the Precision Farming Market
    4.2 Precision Farming Market in APAC, By Application
    4.3 Precision Farming Market, By Offering
    4.4 Precision Farming Market, By Technology
    4.5 Geographic Analysis of Precision Farming Market

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Pressure on Global Food Supply Owing to Growing World Population
                    5.2.1.2 Substantial Cost Cutting Made Possible By Precision Farming
                    5.2.1.3 Government Initiatives to Adopt Modern Agricultural Techniques
                    5.2.1.4 Adoption of New Farming Technologies for Boosting Agricultural Production
           5.2.2 Restraints
                    5.2.2.1 High Initial Investment in R&D
                    5.2.2.2 Lack of Technical Knowledge Among Farmers
           5.2.3 Opportunities
                    5.2.3.1 Integration of Smartphones With Internet of Things (IoT) Devices and Software Applications
                    5.2.3.2 Rise in Use of Unmanned Aerial Vehicles (UAVS)/Drones in Precision Farming
           5.2.4 Challenges
                    5.2.4.1 Management of Data
                    5.2.4.2 Lack of Standardization in Precision Farming Industry
           5.2.5 Burning Issues
                    5.2.5.1 Environmental Concerns

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Major Players in Precision Farming Market
    6.3 Supply Chain Analysis
    6.4 Technology Roadmap
           6.4.1 Technology Roadmap (2010–2025)
           6.4.2 Key Industry Trends
    6.5 Pestle Analysis
           6.5.1 Political Factors
           6.5.2 Economic Factors
           6.5.3 Social Factors
           6.5.4 Technological Factors
           6.5.5 Legal Factors
           6.5.6 Environmental Factors

7 Precision Farming Market, By Offering (Page No. - 54)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Automation and Control System
                    7.2.1.1 Display
                    7.2.1.2 Guidance and Steering
                    7.2.1.3 GPS/GNSS
                    7.2.1.4 Drones/UAVS
                    7.2.1.5 Irrigation Controllers
                    7.2.1.6 Handheld Mobile Devices/Handheld Computers
                    7.2.1.7 Flow and Application Control Devices
                    7.2.1.8 Others
           7.2.2 Sensing and Monitoring Device
                    7.2.2.1 Yield Monitors
                    7.2.2.2 Soil Sensors
                               7.2.2.2.1 Moisture Sensor
                               7.2.2.2.2 Temperature Sensor
                               7.2.2.2.3 Nutrient Sensor
                    7.2.2.3 Water Sensor
                    7.2.2.4 Climate Sensor
    7.3 Software
           7.3.1 Local/Web-Based
           7.3.2 Cloud-Based
    7.4 Services
           7.4.1 System Integration & Consulting
           7.4.2 Managed Services
                    7.4.2.1 Farm Operation Services
                    7.4.2.2 Data Services
                    7.4.2.3 Analytics
           7.4.3 Connectivity Services
           7.4.4 Assisted Professional Services
                    7.4.4.1 Supply Chain Management Services
                    7.4.4.2 Climate Information Services
                    7.4.4.3 Others
           7.4.5 Maintenance and Support

8 Precision Farming Market, By Technology (Page No. - 73)
    8.1 Introduction
    8.2 Guidance Technology
           8.2.1 GPS/GNSS Based
                    8.2.1.1 GNSS Applications in Precision Farming
           8.2.2 GIS Based
    8.3 Remote Sensing
           8.3.1 Handheld Or Ground-Based Sensing
           8.3.2 Satellite Or Aerial Sensing
    8.4 Variable-Rate Technology
           8.4.1 Map-Based
           8.4.2 Sensor-Based
           8.4.3 Some Major Applications of VRT
                    8.4.3.1 Fertilizer VRA
                               8.4.3.1.1 Nitrogen VRA
                               8.4.3.1.2 Phosphorous VRA
                               8.4.3.1.3 Lime VRA
                    8.4.3.2 Pesticide VRA
                    8.4.3.3 Seeding VRA

9 Precision Farming Market, By Application (Page No. - 91)
    9.1 Introduction
    9.2 Yield Monitoring
           9.2.1 On-Farm Yield Monitoring
           9.2.2 Off-Farm Yield Monitoring
    9.3 Field Mapping
           9.3.1 Boundary Mapping
           9.3.2 Drainage Mapping
    9.4 Crop Scouting
    9.5 Weather Tracking & Forecasting
    9.6 Irrigation Management
    9.7 Inventory Management
    9.8 Farm Labor Management
    9.9 Financial Management
    9.10 Others

10 Geographic Analysis (Page No. - 114)
     10.1 Introduction
     10.2 Americas
             10.2.1 North America
                        10.2.1.1 US
                        10.2.1.2 Canada
                        10.2.1.3 Mexico
             10.2.2 South America
                        10.2.2.1 Brazil
                        10.2.2.2 Argentina
                        10.2.2.3 Rest of South America
     10.3 Europe
             10.3.1 Germany
             10.3.2 UK
             10.3.3 France
             10.3.4 Italy
             10.3.5 The Netherlands
             10.3.6 Rest of Europe
     10.4 APAC
             10.4.1 China
             10.4.2 Japan
             10.4.3 Australia
             10.4.4 India
             10.4.5 South Korea
             10.4.6 Rest of APAC
     10.5 Rest of World
             10.5.1 Africa
                        10.5.1.1 South Africa
             10.5.2 Middle East
             10.5.3 Russia

11 Competitive Landscape (Page No. - 138)
     11.1 Introduction
     11.2 Precision Farming Market Ranking Analysis
     11.3 Competitive Scenario
             11.3.1 Product Launches & Developments
             11.3.2 Partnerships, Agreements, and Collaborations
             11.3.3 Mergers & Acquisitions

12 Company Profiles (Page No. - 142)
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 Deere & Company
             12.1.2 Trimble
             12.1.3 Agco
             12.1.4 Agjunction
             12.1.5 Raven Industries
             12.1.6 AG Leader Technology
             12.1.7 SST Development Group
             12.1.8 Teejet Technologies
             12.1.9 Topcon Positioning Systems
             12.1.10 Dickey-John Corporation
             12.1.11 Cropmetrics
     12.2 Other Important Players
             12.2.1 Hexagon Agriculture
             12.2.2 Granular
             12.2.3 Prospera Technologies
             12.2.4 Agribotix
             12.2.5 Autocopter Corp.
     12.3 Start-Up Ecosystem
             12.3.1 The Climate Corporation (Subsidiary of Monsanto)
             12.3.2 Gamaya
             12.3.3 Descartes Labs
             12.3.4 Decisive Farming
             12.3.5 Autonomous Tractor Corporation
             12.3.6 Ec2ce

*Details on Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 177)
     13.1 Insights From Industry Experts
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customization
     13.6 Related Reports
     13.7 Author Details


List of Tables (66 Tables)

Table 1 Precision Farming Market, By Offering, 2015–2023 (USD Million)
Table 2 Precision Farming Market for Hardware, By Type, 2015–2023 (USD Million)
Table 3 Market for Hardware, By Region, 2015–2023 (USD Million)
Table 4 Market for Automation and Control System, By Device Type, 2015–2023 (USD Million)
Table 5 Market for Automation and Control System, By Region, 2015–2023 (USD Million)
Table 6 Market for Sensing and Monitoring Device, By Device Type, 2015–2023 (USD Million)
Table 7 Market for Soil Sensors, By Sensor Type, 2015–2023 (USD Million)
Table 8 Market for Sensing and Monitoring Device, By Region, 2015–2023 (USD Million)
Table 9 Market for Software, By Deployment Type, 2015–2023 (USD Million)
Table 10 Market for Software, By Region, 2015–2023 (USD Million)
Table 11 Market for Services, By Type, 2015–2023 (USD Million)
Table 12 Market for Services, By Region, 2015–2023 (USD Million)
Table 13 Precision Farming Market, By Technology, 2015–2023 (USD Million)
Table 14 Market for Guidance Technology, By Type, 2015–2023 (USD Million)
Table 15 Market for Guidance Technology, By Region, 2015–2023 (USD Million)
Table 16 Market for Guidance Technology, By Offering, 2015–2023 (USD Million)
Table 17 Types of Satellite Remote Sensing Image Resolution
Table 18 Precision Farming Market for Remote Sensing, By Type, 2015–2023 (USD Million)
Table 19 Market for Remote Sensing, By Region, 2015–2023 (USD Million)
Table 20 Market for Remote Sensing, By Offering, 2015–2023 (USD Million)
Table 21 Market for Variable-Rate Technology, By Type, 2015–2023 (USD Million)
Table 22 Market for Variable-Rate Technology, By Region, 2015–2023 (USD Million)
Table 23 Market for Variable-Rate Technology, By Offering, 2015–2023 (USD Million)
Table 24 Market for Variable-Rate Technology, By Application, 2015–2023 (USD Million)
Table 25 Precision Farming Market, By Application, 2015–2023 (USD Million)
Table 26 Benefits of Yield Monitoring
Table 27 Precision Farming Market for Yield Monitoring Application, By Type, 2015–2023 (USD Million)
Table 28 Market for Yield Monitoring Application, By Offering, 2015–2023 (USD Million)
Table 29 Market for Yield Monitoring Application, By Region, 2015–2023 (USD Million)
Table 30 Market for Field Mapping Application, By Type, 2015–2023 (USD Million)
Table 31 Market for Field Mapping Application, By Offering, 2015–2023 (USD Million)
Table 32 Market for Field Mapping Application, By Region, 2015–2023 (USD Million)
Table 33 Market for Crop Scouting Application, By Offering, 2015–2023 (USD Million)
Table 34 Market for Crop Scouting Application, By Region, 2015–2023 (USD Million)
Table 35 Market for Weather Tracking & Forecasting Application, By Offering, 2015–2023 (USD Million)
Table 36 Market for Weather Tracking & Forecasting Application, By Region, 2015–2023 (USD Million)
Table 37 Market for Irrigation Management Application, By Offering, 2015–2023 (USD Million)
Table 38 Market for Irrigation Management Application, By Region, 2015–2023 (USD Million)
Table 39 Market for Inventory Management Application, By Offering, 2015–2023 (USD Million)
Table 40 Market for Inventory Management Application, By Region, 2015–2023 (USD Million)
Table 41 Market for Farm Labor Management Application, By Offering, 2015–2023 (USD Million)
Table 42 Market for Farm Labor Management Application, By Region, 2015–2023 (USD Million)
Table 43 Market for Financial Management Application, By Offering, 2015–2023 (USD Million)
Table 44 Market for Financial Management Application, By Region, 2015–2023 (USD Million)
Table 45 Market for Other Applications, By Offering, 2015–2023 (USD Million)
Table 46 Market for Other Applications, By Region, 2015–2023 (USD Million)
Table 47 Precision Farming Market, By Region, 2015–2023 (USD Million)
Table 48 Precision Farming Market in the Americas, By Offering, 2015–2023 (USD Million)
Table 49 Market in the Americas, By Application, 2015–2023 (USD Million)
Table 50 Market in the Americas, By Technology, 2015–2023 (USD Million)
Table 51 Market in the Americas, By Region, 2015–2023 (USD Million)
Table 52 Market in North America, By Country, 2015–2023 (USD Million)
Table 53 Market in South America, By Country, 2015–2023 (USD Million)
Table 54 Precision Farming Market in Europe, By Offering, 2015–2023 (USD Million)
Table 55 Market in Europe, By Application, 2015–2023 (USD Million)
Table 56 Market in Europe, By Technology, 2015–2023 (USD Million)
Table 57 Market in Europe, By Country, 2015–2023 (USD Million)
Table 58 Precision Farming Market in APAC, By Offering, 2015–2023 (USD Million)
Table 59 Market in APAC, By Application, 2015–2023 (USD Million)
Table 60 Market in APAC, By Technology, 2015–2023 (USD Million)
Table 61 Market in APAC, By Country, 2015–2023 (USD Million)
Table 62 Market in RoW, By Offering, 2015–2023 (USD Million)
Table 63 Market in RoW, By Application, 2015–2023 (USD Million)
Table 64 Market in RoW, By Technology, 2015–2023 (USD Million)
Table 65 Market in RoW, By Region, 2015–2023 (USD Million)
Table 66 Ranking of Top 5 Players in Precision Farming Market (2017)


List of Figures (54 Figures)

Figure 1 Precision Farming Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Precision Farming Market, 2015–2023 (USD Billion)
Figure 6 Market for Services to Grow at Highest CAGR Between 2018 and 2023
Figure 7 Variable-Rate Technology Poised to Grow at the Highest CAGR Between 2018 and 2023
Figure 8 Yield Monitoring to Hold Largest Size of Market in 2018
Figure 9 Americas Held Largest Share of Precision Farming Market in 2017
Figure 10 Increasing Demand for Food Owing to Rising Population to Fuel Growth of Market During Forecast Period
Figure 11 Australia Held Largest Share for the Market in Asia Pacific in 2017
Figure 12 Hardware Held Largest Share of Market in 2017
Figure 13 Guidance Technology Held Largest Size of Market in 2017
Figure 14 Market in China to Grow at Highest CAGR During Forecast Period
Figure 15 Precision Farming Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Global Consumption of Major Field Crops, 2005–2050
Figure 17 Global Mobile Subscriber Base, 2016–2026 (In Million)
Figure 18 Value Chain: Precision Farming Market
Figure 19 Supply Chain: Precision Farming Market.
Figure 20 Present and Upcoming Technologies in Market
Figure 21 Big Data Opportunities – Leading Trend Among Key Market Players
Figure 22 Market for Services to Grow at Highest CAGR Between 2018 and 2023
Figure 23 Americas to Hold Largest Size of Market for Hardware in 2018
Figure 24 Market for Automation and Control System in APAC to Grow at Highest CAGR Between 2018 and 2023
Figure 25 Americas to Hold Largest Size of Market for Sensing and Monitoring Device in 2018
Figure 26 Market for Software in APAC to Grow at Highest CAGR During Forecast Period
Figure 27 System Integration & Consulting Services to Hold Largest Market Size in 2018
Figure 28 Market for Variable-Rate Technology to Grow at Highest CAGR Between 2018 and 2023
Figure 29 GNSS Technology Accuracy Levels
Figure 30 GIS in Precision Farming
Figure 31 Market for Guidance Technology in APAC to Grow at Highest CAGR During Forecast Period
Figure 32 Remote Sensing Systems
Figure 33 Americas to Hold Largest Size of Market for Remote Sensing in 2018
Figure 34 Market for Variable-Rate Technology in APAC to Grow at Highest CAGR Between 2018 and 2023
Figure 35 Market for Seeding VRA to Grow at Highest CAGR Between 2018 and 2023
Figure 36 Market for Weather Tracking & Forecasting Application Expected to Grow at Highest CAGR Between 2018 and 2023
Figure 37 Asia Pacific to Exhibit Highest CAGR in Market for Yield Monitoring Application Between 2018 and 2023
Figure 38 Americas to Hold Largest Size of Market for Field Mapping Application By 2023
Figure 39 Americas to Hold Largest Size of Market for Crop Scouting Application in 2018
Figure 40 Asia Pacific Expected to Exhibit Highest CAGR in Market for Weather Tracking & Forecasting Application Between 2018 and 2023
Figure 41 Americas to Hold Largest Size of Market for Irrigation Management Application in 2018
Figure 42 Market in Asia Pacific for Inventory Management Application Expected to Grow at Highest CAGR During Forecast Period
Figure 43 Asia Pacific Expected to Witness Highest CAGR in Market for Financial Management Application During Forecast Period
Figure 44 Hardware to Account for Largest Size of Market for Other Applications in 2018
Figure 45 Precision Farming Market: Geographic Snapshot
Figure 46 Americas: Snapshot of Market
Figure 47 Europe: Snapshot of Market
Figure 48 APAC: Snapshot of Market
Figure 49 Companies Adopted Collaborations, Agreements, and Partnerships as Key Growth Strategies
Figure 50 Deere & Company: Company Snapshot
Figure 51 Trimble: Company Snapshot
Figure 52 Agco: Company Snapshot
Figure 53 Agjunction: Company Snapshot
Figure 54 Raven Industries: Company Snapshot

The study involved four major activities in estimating the size of the precision farming market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market’s size. After that, market breakdown and data triangulation were used to estimate the market sizes of segments and sub-segments.

Secondary Research

In the precision farming market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the precision farming market, along with other dependent submarkets. The key players in the precision farming market have been identified through secondary research, and their market shares have been determined through primary and secondary research. This entire research methodology involved studying annual and financial reports of the top players and interviewing experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that may affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Primary Research

The precision farming market supply chain comprises several stakeholders, such as farming equipment manufacturers, hardware providers, software and solution providers, and system integrators. The demand side of this market is characterized by government, commercial farming company, individual farm owners, research institutes, and farming associations; the supply side is characterized by technology and hardware suppliers, solution providers, and system integrators. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of the primary respondents is provided below:

Precision Farming Market

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the precision farming market. These methods were also extensively used to estimate the sizes of various market sub-segments. The research methodology used to estimate the market sizes includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

The main objectives of this study are:

  • To define, analyze, and forecast the precision farming market, in terms of value, by technology, offering, application, and geography
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the precision farming market
  • To forecast the precision farming market for different segments with respect to four regions—Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To strategically profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, and detail the competitive landscape for market leaders

The report also describes the drivers, restraints, opportunities, and challenges for the growth of the precision farming market. In addition to the in-depth view on market segmentation, the report includes critical market data and qualitative information for each type, along with qualitative analysis, such as value chain analysis, market ranking analysis, and competitive situations and trends. The report targets technology providers, software and service providers, system integrators, and end-user industries.

The precision farming market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The precision farming market has been segmented as below:

Precision Farming Market, by Application

  • Yield Monitoring
  • Crop Scouting
  • Field Mapping
  • Irrigation Management
  • Weather Tracking & Forecasting
  • Inventory Management
  • Farm Labor Management
  • Financial Management
  • Others

Precision Farming Market, by Technology

  • Guidance System
  • Remote Sensing
  • Variable-Rate Technology

Precision Farming Market, by Offering

  • Hardware
  • Software
  • Services

Precision Farming Market, by Region

  • Americas
  • Europe
  • APAC
  • RoW

Available Customizations:

Country-wise Information:

  • Detailed analysis of various hardware, software, and services for each country

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 2831
Published ON
May, 2018
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