Precision Farming Market

Precision Farming Market Size, Share, Statistics and Industry Growth Analysis Report 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

[301 Pages Report] The global precision farming market size is expected to grow from USD 9.7 billion in 2023 to USD 21.9 billion by 2031, at a CAGR of 10.7%. 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

To know about the assumptions considered for the study, Request for Free Sample Report

Precision farming  market 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 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. 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 market 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

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.

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

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

Key Market Players

Deere & Company (US), AGCO Corporation (US), Raven Industries, Inc. (US), AgJunction LLC (US), and Trimble Inc. (US) are some of the key players in the global precision farming companies. These players increasingly undertake product launches and development strategies, expansions, partnerships, contracts, and acquisitions to increase their market share.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metric

Details

Estimated Value

USD 9.7 billion

Expected Value 

USD 21.9 billion

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 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 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

Frequently Asked Questions (FAQs):

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

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 PRECISION FARMING MARKET: SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 INCLUSIONS AND EXCLUSIONS
           1.3.4 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA 
           FIGURE 2 PRECISION FARMING MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    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 primary interviews
                    2.1.2.3 Key data from primary sources
                    2.1.2.4 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 PROCESS FLOW OF MARKET SIZE ESTIMATION
           2.2.1 TOP-DOWN APPROACH
                    2.2.1.1 Approach to capture market size by top-down analysis (supply side)
                               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)
           2.2.2 BOTTOM-UP APPROACH
                    2.2.2.1 Approach to capture market size by bottom-up analysis (demand side)
                               FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - DEMAND SIDE
    2.3 GROWTH FORECAST 
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION METHODOLOGY
    2.5 RESEARCH ASSUMPTIONS 
           TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY
    2.6 RESEARCH LIMITATIONS 
    2.7 RISK FACTORS 
           FIGURE 10 RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY (Page No. - 51)
    FIGURE 11 PRECISION FARMING MARKET, 2019–2031 (USD MILLION)
    FIGURE 12 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF 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 MARKET DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 55)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PRECISION FARMING MARKET 
           FIGURE 16 RISING PREFERENCE FOR PRECISION FARMING AMONG FARMERS/GROWERS TO OFFER GROWTH OPPORTUNITIES FOR MARKET PLAYERS
    4.2 MARKET, BY OFFERING 
           FIGURE 17 HARDWARE SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
    4.3 MARKET, BY APPLICATION 
           FIGURE 18 YIELD MONITORING SEGMENT TO HOLD LARGEST MARKET SHARE IN 2031
    4.4 MARKET, BY TECHNOLOGY 
           FIGURE 19 GUIDANCE TECHNOLOGY SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD
    4.5 COUNTRY-WISE PRECISION FARMING MARKET GROWTH 
           FIGURE 20 AMERICAS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Rapid adoption of advanced technologies in precision farming to reduce cost
                    5.2.1.2 Increased adoption of IoT devices in agricultural applications
                    5.2.1.3 High pressure on governments and farmers to meet surging demand for food
                    5.2.1.4 Integration of precision farming technologies into existing farm machinery
                               FIGURE 22 DRIVERS: PRECISION FARMING MARKET
           5.2.2 RESTRAINTS
                    5.2.2.1 High costs of precision farming equipment
                    5.2.2.2 Small size of landholdings and limited availability of skilled workforce
                               FIGURE 23 RESTRAINTS: PRECISION FARMING MARKET
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Adoption of data analytics in agriculture sector
                    5.2.3.2 Emergence of multiple user-friendly smartphone applications for farmers
                    5.2.3.3 Rising use of AI-based solutions in precision farming
                    5.2.3.4 Adoption of digital technologies in sustainable farming
                               FIGURE 24 OPPORTUNITIES: PRECISION FARMING MARKET
           5.2.4 CHALLENGES
                    5.2.4.1 Difficulties in collecting and analyzing data from multiple farms
                    5.2.4.2 Lack of standardized protocols and technologies
                    5.2.4.3 Data privacy issues and security concerns
                    5.2.4.4 Lesser reliability of internet connectivity and infrastructure for precision farming
                               FIGURE 25 CHALLENGES: PRECISION FARMING MARKET
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 26 MARKET: VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM MAPPING 
           TABLE 2 ROLE OF KEY PLAYERS IN PRECISION FARMING ECOSYSTEM
           FIGURE 27 KEY PLAYERS IN PRECISION FARMING ECOSYSTEM
    5.5 PRICING ANALYSIS 
           FIGURE 28 PRICING ANALYSIS OF PRECISION FARMING
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 29 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN MARKET
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 ARTIFICIAL INTELLIGENCE
           5.7.2 IOT
           5.7.3 AGRICULTURAL DRONES/UNMANNED AERIAL VEHICLES (UAVS)
           5.7.4 BLOCKCHAIN TECHNOLOGY
           5.7.5 AUTONOMOUS FARM MACHINERY
    5.8 CASE STUDY ANALYSIS 
           5.8.1 ACCENTURE HELPS PROAGRICA GATHER CRITICAL AGRICULTURAL DATA INSIGHTS
           5.8.2 AGCO HELPS FARMERS REDUCE INPUT COSTS AND ENHANCE REVENUE BY INTEGRATING FARMING EQUIPMENT INTO SINGLE PLATFORM
           5.8.3 AGJUNCTION HELPS EFARMERS DEVELOP AFFORDABLE AUTOSTEER
    5.9 PORTER’S FIVE FORCE ANALYSIS 
           TABLE 3 PORTER’S FIVE FORCES IMPACT ON MARKET
           FIGURE 30 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 INTENSITY OF COMPETITIVE RIVALRY
           5.9.2 THREAT OF SUBSTITUTES
           5.9.3 BARGAINING POWER OF BUYERS
           5.9.4 BARGAINING POWER OF SUPPLIERS
           5.9.5 THREAT OF NEW ENTRANTS
    5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 31 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END USERS
                    TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
           5.10.2 BUYING CRITERIA
                    FIGURE 32 KEY BUYING CRITERIA FOR TOP THREE END USERS
                    TABLE 5 KEY BUYING CRITERIA, BY END USERS
    5.11 TRADE ANALYSIS 
           5.11.1 IMPORT DATA
                    FIGURE 33 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
                    TABLE 6 IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)
           5.11.2 EXPORT DATA
                    FIGURE 34 EXPORT 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)
    5.12 PATENT ANALYSIS 
           TABLE 8 MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023
           TABLE 9 TOP 20 US PATENT OWNERS IN LAST 10 YEARS, 2013–2022
           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
    5.13 KEY CONFERENCES AND EVENTS, 2023–2024 
    5.14 REGULATORY LANDSCAPE 
           5.14.1 CARBON POLICY TRENDS IN AGRICULTURE
           5.14.2 GROWING CLIMATE SOLUTIONS ACT
           5.14.3 REGULATIONS IN PRECISION FARMING AND SMART GREENHOUSES
           TABLE 10 REGULATIONS: PRECISION FARMING AND SMART GREENHOUSES
           5.14.4 NORTH AMERICA
           5.14.5 EUROPE
           5.14.6 ASIA PACIFIC
                    5.14.6.1 China
                    5.14.6.2 India
                                TABLE 11 AGRICULTURE SUBSIDIES FOR INDIAN FARMERS FROM CENTRAL AND STATE GOVERNMENTS (USD BILLION)
                    5.14.6.3 Greenhouse farming subsidy in India
           5.14.7 REST OF THE WORLD
 
6 PRECISION FARMING MARKET, BY OFFERING (Page No. - 102)
    6.1 INTRODUCTION 
           TABLE 12 PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)
           FIGURE 37 SERVICES SEGMENT TO RECORD HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
           TABLE 13 MARKET, BY OFFERING, 2023–2031 (USD MILLION)
    6.2 HARDWARE 
           TABLE 14 MARKET, BY HARDWARE, 2019–2022 (USD MILLION)
           TABLE 15 MARKET, BY HARDWARE, 2023–2031 (USD MILLION)
           TABLE 16 HARDWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 17 HARDWARE: MARKET, BY REGION, 2023–2031 (USD MILLION)
           TABLE 18 HARDWARE: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
           TABLE 19 HARDWARE: MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           6.2.1 AUTOMATION AND CONTROL SYSTEMS
                    TABLE 20 AUTOMATION AND CONTROL SYSTEMS: MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 21 AUTOMATION AND CONTROL SYSTEMS: MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)
                    TABLE 22 AUTOMATION AND CONTROL SYSTEMS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 23 AUTOMATION AND CONTROL SYSTEMS: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    6.2.1.1 Displays
                               6.2.1.1.1 Ability to present complex data in user-friendly manner to boost demand
                    6.2.1.2 Guidance and steering systems
                               6.2.1.2.1 Strong focus on reducing fuel consumption and enhancing resource efficiency to drive market
                    6.2.1.3 GPS/GNSS devices
                               6.2.1.3.1 Rising use of GPS/GNSS devices in variable rate applications to drive market
                    6.2.1.4 Drones/UAVs
                               6.2.1.4.1 Increasing adoption of drones in identifying pests and weeds to fuel market growth
                                            TABLE 24 DRONES/UAVS: MARKET, BY VOLUME, 2019–2022 (MILLION UNITS)
                                            TABLE 25 DRONES/UAVS: MARKET, BY VOLUME, 2023–2031 (MILLION UNITS)
                    6.2.1.5 Irrigation controllers
                               6.2.1.5.1 Pressing need for efficient water management to drive market
                    6.2.1.6 Handheld mobile devices/handheld computers
                               6.2.1.6.1 Operational flexibility and ease of operation to foster segmental growth
                    6.2.1.7 Flow and application control devices
                               6.2.1.7.1 Rising focus of farmers on optimal resource management to contribute to market growth
                    6.2.1.8 Others
           6.2.2 SENSING AND MONITORING DEVICES
                    TABLE 26 SENSING AND MONITORING DEVICES: MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)
                    TABLE 27 SENSING AND MONITORING DEVICES: MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)
                    TABLE 28 SENSING AND MONITORING DEVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 29 SENSING AND MONITORING DEVICES: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    6.2.2.1 Yield monitors
                               6.2.2.1.1 High emphasis on improving profitability and sustainable farming practices to drive market
                    6.2.2.2 Soil sensors
                               6.2.2.2.1 Potential to provide real-time soil information for analysis to fuel demand
                                            TABLE 30 SOIL SENSORS: MARKET, BY SENSOR TYPE, 2019–2022 (USD MILLION)
                                            TABLE 31 SOIL SENSORS: PRECISION FARMING MARKET, BY SENSOR TYPE, 2023–2031 (USD MILLION)
                               6.2.2.2.2 Moisture sensors
                               6.2.2.2.3 Temperature sensors
                               6.2.2.2.4 Nutrient sensors
                    6.2.2.3 Water sensors
                               6.2.2.3.1 Contribution to optimized water management and reduced resource wastage to drive market
                    6.2.2.4 Climate sensors
                               6.2.2.4.1 Uncertainties related to weather and climate predictions to boost demand
    6.3 SOFTWARE 
           TABLE 32 SOFTWARE: MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)
           TABLE 33 SOFTWARE: MARKET, BY DEPLOYMENT TYPE, 2023–2031 (USD MILLION)
           TABLE 34 SOFTWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 35 SOFTWARE: MARKET, BY REGION, 2023–2031 (USD MILLION)
           TABLE 36 SOFTWARE: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
           TABLE 37 SOFTWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           6.3.1 LOCAL/WEB-BASED SOFTWARE
                    6.3.1.1 Easy accessibility of web-based delivery model to drive market
                               TABLE 38 LOCAL/WEB-BASED SOFTWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 39 LOCAL/WEB-BASED SOFTWARE: MARKET, BY REGION, 2023–2031 (USD MILLION)
           6.3.2 CLOUD-BASED SOFTWARE
                    6.3.2.1 Growing popularity of software-as-a-service model to fuel demand for cloud technology
                               TABLE 40 CLOUD-BASED SOFTWARE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 41 CLOUD-BASED SOFTWARE: MARKET, BY REGION, 2023–2031 (USD MILLION)
    6.4 SERVICES 
           TABLE 42 SERVICES: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
           TABLE 43 SERVICES: MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)
           TABLE 44 SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 45 SERVICES: MARKET, BY REGION, 2023–2031 (USD MILLION)
           TABLE 46 SERVICES: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
           TABLE 47 SERVICES: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           6.4.1 SYSTEM INTEGRATION AND CONSULTING SERVICES
                    6.4.1.1 Contribution to improved resource management and sustainable agriculture practices to drive market
                               TABLE 48 SYSTEM INTEGRATION AND CONSULTING SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 49 SYSTEM INTEGRATION AND CONSULTING SERVICES: MARKET, BY REGION, 2023–2031 (USD MILLION)
           6.4.2 MANAGED SERVICES
                    6.4.2.1 Increasing demand for cloud-based software and platforms to contribute to market growth
                               TABLE 50 MANAGED SERVICES: MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
                               TABLE 51 MANAGED SERVICES: MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)
                               TABLE 52 MANAGED SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 53 MANAGED SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
                    6.4.2.2 Farm operation services
                    6.4.2.3 Data services
                    6.4.2.4 Analytics services
           6.4.3 CONNECTIVITY SERVICES
                    6.4.3.1 Ability to control precision farming technologies from centralized location to drive market
                               TABLE 54 CONNECTIVITY SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 55 CONNECTIVITY SERVICES: MARKET, BY REGION, 2023–2031 (USD MILLION)
           6.4.4 ASSISTED PROFESSIONAL SERVICES
                    6.4.4.1 Significant focus on amplifying crop yields with optimized resource to create demand
                               TABLE 56 ASSISTED PROFESSIONAL SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 57 ASSISTED PROFESSIONAL SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
                    6.4.4.2 Supply chain management services
                    6.4.4.3 Climate information services
                    6.4.4.4 Other assisted professional services
           6.4.5 MAINTENANCE AND SUPPORT SERVICES
                    6.4.5.1 Increased operational efficiency and reduced disruptions to drive market
                               TABLE 58 MAINTENANCE AND SUPPORT SERVICES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 59 MAINTENANCE AND SUPPORT SERVICES: MARKET, BY REGION, 2023–2031 (USD MILLION)
 
7 PRECISION FARMING MARKET, BY TECHNOLOGY (Page No. - 135)
    7.1 INTRODUCTION 
           TABLE 60 PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
           FIGURE 38 VARIABLE RATE TECHNOLOGY TO EXHIBIT HIGHEST CAGR IN PRECISION FARMING MARKET DURING FORECAST PERIOD
           TABLE 61 PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
    7.2 GUIDANCE TECHNOLOGY 
           7.2.1 ABILITY TO COLLECT VITAL INFORMATION DURING OPERATIONS TO RESULT IN HIGH ADOPTION
                    TABLE 62 GUIDANCE TECHNOLOGY: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 63 GUIDANCE TECHNOLOGY: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 64 GUIDANCE TECHNOLOGY: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 65 GUIDANCE TECHNOLOGY: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 66 GUIDANCE TECHNOLOGY: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 67 GUIDANCE TECHNOLOGY: MARKET, BY TYPE, 2023–2031 (USD MILLION)
           7.2.2 GPS/GNSS-BASED GUIDANCE TECHNOLOGY
                    7.2.2.1 Growing requirement for high-precision field maps and geospatial databases to facilitate market growth
           7.2.3 GIS-BASED GUIDANCE TECHNOLOGY
                    7.2.3.1 Integration of spatial data sources such as satellite imagery into farming tools to drive market
    7.3 REMOTE SENSING TECHNOLOGY 
           7.3.1 SURGING DEMAND FOR COMPREHENSIVE REMOTE DATA COLLECTION TO BOOST DEMAND
                    TABLE 68 REMOTE SENSING TECHNOLOGY: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 69 REMOTE SENSING TECHNOLOGY: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 70 REMOTE SENSING TECHNOLOGY: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 71 REMOTE SENSING TECHNOLOGY: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 72 REMOTE SENSING TECHNOLOGY: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 73 REMOTE SENSING TECHNOLOGY: MARKET, BY TYPE, 2023–2031 (USD MILLION)
           7.3.2 HANDHELD OR GROUND-BASED SENSING
                    7.3.2.1 High convenience of handheld sensors to boost demand
           7.3.3 SATELLITE OR AERIAL SENSING
                    7.3.3.1 Increased need for data-rich insights to drive market
           TABLE 74 TYPES OF SATELLITE REMOTE SENSING IMAGE RESOLUTION
    7.4 VARIABLE RATE TECHNOLOGY 
           7.4.1 AMPLIFIED YIELD POTENTIAL AND MINIMIZED ENVIRONMENTAL IMPACT TO DRIVE MARKET
                    TABLE 75 VARIABLE RATE TECHNOLOGY: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 76 VARIABLE RATE TECHNOLOGY: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 77 VARIABLE RATE TECHNOLOGY: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 78 VARIABLE RATE TECHNOLOGY: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 79 VARIABLE RATE TECHNOLOGY: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 80 VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
           7.4.2 MAP-BASED
                    7.4.2.1 Enhanced decision-making with data-driven insights to boost demand
           7.4.3 SENSOR-BASED
                    7.4.3.1 Integration of sensor-powered IoT and AI solutions to drive market
 
8 PRECISION FARMING MARKET, BY APPLICATION (Page No. - 151)
    8.1 INTRODUCTION 
           TABLE 81 PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
           FIGURE 39 WEATHER TRACKING AND FORECASTING APPLICATIONS TO RECORD HIGHEST CAGR FROM 2023 TO 2031
           TABLE 82 PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
    8.2 YIELD MONITORING 
           8.2.1 INCREASING DEMAND FOR REAL-TIME DATA ON YIELDS AND HARVESTED CROPS TO STRENGTHEN SEGMENTAL GROWTH
                    TABLE 83 BENEFITS OF YIELD MONITORING
                    TABLE 84 YIELD MONITORING: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 85 YIELD MONITORING APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 86 YIELD MONITORING APPLICATION: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 87 YIELD MONITORING APPLICATION: MARKET, BY TYPE, 2023–2031 (USD MILLION)
           8.2.2 ON-FARM YIELD MONITORING
           8.2.3 OFF-FARM YIELD MONITORING
    8.3 CROP SCOUTING 
           8.3.1 RISING NEED TO MANAGE CROPS EFFECTIVELY TO BOOST DEMAND
                    TABLE 88 CROP SCOUTING APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 89 CROP SCOUTING APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
           8.3.2 PRE-SEEDING CROP SCOUTING
           8.3.3 POST-SEEDING CROP SCOUTING
           8.3.4 CROP MONITORING
    8.4 FIELD MAPPING 
           8.4.1 INCREASING DEMAND FOR SOIL IDENTIFICATION TO SUPPORT MARKET GROWTH
                    TABLE 90 FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 91 FIELD MAPPING APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 92 FIELD MAPPING APPLICATION: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 93 FIELD MAPPING APPLICATION: MARKET, BY TYPE, 2023–2031 (USD MILLION)
           8.4.2 BOUNDARY MAPPING
           8.4.3 DRAINAGE MAPPING
    8.5 VARIABLE RATE APPLICATION 
           8.5.1 GROWING NEED FOR COST AND RESOURCE EFFICIENCY TO BOOST DEMAND
                    TABLE 94 VARIABLE RATE APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 95 VARIABLE RATE APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
                    TABLE 96 VARIABLE RATE APPLICATION: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 97 VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)
           8.5.2 PRECISION IRRIGATION
           8.5.3 PRECISION SEEDING
           8.5.4 PRECISION FERTILIZATION
                    8.5.4.1 Nitrogen VRA
                    8.5.4.2 Phosphorous VRA
                    8.5.4.3 Lime VRA
           8.5.5 OTHER VARIABLE RATE APPLICATIONS
    8.6 WEATHER TRACKING AND FORECASTING 
           8.6.1 INCREASING CLIMATE VARIABILITY TO DRIVE MARKET
                    TABLE 98 WEATHER TRACKING AND FORECASTING APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 99 WEATHER TRACKING AND FORECASTING APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
    8.7 INVENTORY MANAGEMENT 
           8.7.1 GROWING DEMAND FOR GPS FOR INVENTORY MANAGEMENT TO PROPEL MARKET
                    TABLE 100 INVENTORY MANAGEMENT APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 101 INVENTORY MANAGEMENT APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
    8.8 FARM LABOR MANAGEMENT 
           8.8.1 INCREASING NEED FOR EFFECTIVE HANDLING OF LABOR TO DRIVE DEMAND
                    TABLE 102 FARM LABOR MANAGEMENT APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 103 FARM LABOR MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
    8.9 FINANCIAL MANAGEMENT 
           8.9.1 RISING USE OF FINANCIAL MANAGEMENT SOLUTIONS BY FARMERS OR GROWERS TO MAKE STRATEGIC DECISIONS TO DRIVE MARKET
                    TABLE 104 FINANCIAL MANAGEMENT APPLICATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 105 FINANCIAL MANAGEMENT APPLICATION: MARKET, BY REGION, 2023–2031 (USD MILLION)
    8.10 OTHERS 
           TABLE 106 OTHERS: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 107 OTHERS: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
 
9 PRECISION FARMING MARKET, BY REGION (Page No. - 174)
    9.1 INTRODUCTION 
           TABLE 108 PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)
           FIGURE 40 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 109 PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)
    9.2 AMERICAS 
           9.2.1 IMPACT OF RECESSION ON MARKET IN AMERICAS
                    FIGURE 41 AMERICAS: PRECISION FARMING MARKET SNAPSHOT
                    TABLE 110 AMERICAS: MARKET, 2019–2022 (USD MILLION)
                    TABLE 111 AMERICAS: MARKET, 2023–2031 (USD MILLION)
                    TABLE 112 AMERICAS: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 113 AMERICAS: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 114 AMERICAS: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 115 AMERICAS: MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
                    TABLE 116 AMERICAS: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                    TABLE 117 AMERICAS: MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           9.2.2 NORTH AMERICA
                    TABLE 118 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 119 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
                    9.2.2.1 US
                               9.2.2.1.1 Presence of established players in country to boost market
                    9.2.2.2 Canada
                               9.2.2.2.1 Favorable government initiatives to promote innovative agriculture activities to drive market
                    9.2.2.3 Mexico
                               9.2.2.3.1 Growing collaborations among players and supportive government initiatives to fuel market
           9.2.3 SOUTH AMERICA
                    TABLE 120 SOUTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 121 SOUTH AMERICA: MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
                    9.2.3.1 Brazil
                               9.2.3.1.1 Increasing adoption of autonomous harvesting technology by commercial farmers to drive growth
                    9.2.3.2 Argentina
                               9.2.3.2.1 High agricultural production, along with large agricultural machinery manufacturing, to boost market
                    9.2.3.3 Rest of South America
    9.3 EUROPE 
           9.3.1 IMPACT OF RECESSION ON MARKET IN EUROPE
                    FIGURE 42 EUROPE: MARKET SNAPSHOT
                    TABLE 122 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 123 EUROPE: MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
                    TABLE 124 EUROPE: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 125 EUROPE: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 126 EUROPE: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 127 EUROPE: MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
                    TABLE 128 EUROPE: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                    TABLE 129 EUROPE: MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           9.3.2 UK
                    9.3.2.1 Active participation of universities in UK to develop advanced precision farming tools to drive market growth
           9.3.3 GERMANY
                    9.3.3.1 Technological advancements in agriculture sector to drive market
           9.3.4 FRANCE
                    9.3.4.1 Increasing startup companies in agriculture sector to support market growth
           9.3.5 ITALY
                    9.3.5.1 Rapid agricultural innovations in country to drive market
           9.3.6 NETHERLANDS
                    9.3.6.1 Launch of harvesting robots to offer lucrative opportunities
           9.3.7 REST OF EUROPE
    9.4 ASIA PACIFIC 
           9.4.1 IMPACT OF RECESSION ON MARKET IN ASIA PACIFIC
                    FIGURE 43 ASIA PACIFIC: PRECISION FARMING MARKET SNAPSHOT
                    TABLE 130 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    TABLE 131 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
                    TABLE 132 ASIA PACIFIC: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 133 ASIA PACIFIC: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 134 ASIA PACIFIC: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 135 ASIA PACIFIC: MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
                    TABLE 136 ASIA PACIFIC: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                    TABLE 137 ASIA PACIFIC: MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           9.4.2 CHINA
                    9.4.2.1 Government incentives and developments in agriculture field to drive market
           9.4.3 JAPAN
                    9.4.3.1 Application of precision technology through robotic equipment to drive market
           9.4.4 AUSTRALIA
                    9.4.4.1 Initiatives by organizations for development of agriculture sector to drive market
           9.4.5 INDIA
                    9.4.5.1 Government initiatives and growing collaborations among players to benefit market
           9.4.6 SOUTH KOREA
                    9.4.6.1 Establishment of smart farming villages with advanced technologies to drive market
           9.4.7 REST OF ASIA PACIFIC
    9.5 REST OF THE WORLD 
           9.5.1 IMPACT OF RECESSION ON MARKET IN REST OF THE WORLD
                    TABLE 138 REST OF THE WORLD: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                    FIGURE 44 RUSSIA HELD LARGEST MARKET SHARE IN REST OF THE WORLD IN 2022
                    TABLE 139 REST OF THE WORLD: MARKET, BY COUNTRY, 2023–2031 (USD MILLION)
                    TABLE 140 REST OF THE WORLD: MARKET, BY OFFERING, 2019–2022 (USD MILLION)
                    TABLE 141 REST OF THE WORLD: MARKET, BY OFFERING, 2023–2031 (USD MILLION)
                    TABLE 142 REST OF THE WORLD: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                    TABLE 143 REST OF THE WORLD: MARKET, BY APPLICATION, 2023–2031 (USD MILLION)
                    TABLE 144 REST OF THE WORLD: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                    TABLE 145 REST OF THE WORLD: MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)
           9.5.2 MIDDLE EAST
                    9.5.2.1 Growing partnership by government with private sector players in precision farming market to drive market
           9.5.3 AFRICA
                    9.5.3.1 Growing use of drones and other agricultural machinery to strengthen market in Africa
           9.5.4 RUSSIA
                    9.5.4.1 Government initiatives to promote precision farming to drive market
 
10 COMPETITIVE LANDSCAPE (Page No. - 207)
     10.1 OVERVIEW 
     10.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
             TABLE 146 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PRECISION FARMING PROVIDERS
             10.2.1 PRODUCT PORTFOLIO
             10.2.2 REGIONAL FOCUS
             10.2.3 MANUFACTURING FOOTPRINT
             10.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     10.3 MARKET SHARE ANALYSIS, 2022 
             TABLE 147 PRECISION FARMING MARKET: DEGREE OF COMPETITION, 2022
     10.4 FIVE-YEAR COMPANY REVENUE ANALYSIS OF TOP COMPANIES, 2018–2022 
             FIGURE 45 FIVE-YEAR COMPANY REVENUE ANALYSIS OF LEADING MARKET PLAYERS
     10.5 COMPANY EVALUATION MATRIX, 2022 
             10.5.1 STARS
             10.5.2 EMERGING LEADERS
             10.5.3 PERVASIVE PLAYERS
             10.5.4 PARTICIPANTS
                        FIGURE 46 PRECISION FARMING: COMPANY EVALUATION MATRIX, 2022
             10.5.5 PRECISION FARMING MARKET: COMPANY FOOTPRINT
                        TABLE 148 COMPANY FOOTPRINT
                        TABLE 149 OFFERING FOOTPRINT
                        TABLE 150 APPLICATION FOOTPRINT
                        TABLE 151 REGION FOOTPRINT
     10.6 STARTUPS/SMES EVALUATION MATRIX, 2022 
             10.6.1 PROGRESSIVE COMPANIES
             10.6.2 RESPONSIVE COMPANIES
             10.6.3 DYNAMIC COMPANIES
             10.6.4 STARTING BLOCKS
                        FIGURE 47 PRECISION FARMING MARKET: STARTUPS/SMES EVALUATION MATRIX, 2022
     10.7 COMPETITIVE BENCHMARKING 
             TABLE 152 PRECISION FARMING MARKET: LIST OF KEY STARTUPS
             TABLE 153 PRECISION FARMING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     10.8 COMPETITIVE SCENARIOS AND TRENDS 
             10.8.1 PRODUCT LAUNCHES
                        TABLE 154 PRECISION FARMING MARKET: PRODUCT LAUNCHES, 2020–2023
             10.8.2 DEALS
                        TABLE 155 PRECISION FARMING MARKET: DEALS, 2020–2023
 
11 COMPANY PROFILES (Page No. - 230)
     11.1 KEY PLAYERS 
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
             11.1.1 DEERE & COMPANY
                        TABLE 156 DEERE & COMPANY: COMPANY OVERVIEW
                        FIGURE 48 DEERE & COMPANY: COMPANY SNAPSHOT
             11.1.2 TRIMBLE INC.
                        TABLE 157 TRIMBLE INC.: COMPANY OVERVIEW
                        FIGURE 49 TRIMBLE INC.: COMPANY SNAPSHOT
             11.1.3 AGCO CORPORATION
                        TABLE 158 AGCO CORPORATION: COMPANY OVERVIEW
                        FIGURE 50 AGCO CORPORATION: COMPANY SNAPSHOT
             11.1.4 RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.)
                        TABLE 159 RAVEN INDUSTRIES, INC.: COMPANY OVERVIEW
                        FIGURE 51 RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.): COMPANY SNAPSHOT
             11.1.5 AGJUNCTION LLC
                        TABLE 160 AGJUNCTION LLC: COMPANY OVERVIEW
             11.1.6 AG LEADER TECHNOLOGY
                        TABLE 161 AG LEADER TECHNOLOGY: COMPANY OVERVIEW
             11.1.7 AGEAGLE AERIAL SYSTEMS INC
                        TABLE 162 AGEAGLE AERIAL SYSTEMS INC: COMPANY OVERVIEW
                        FIGURE 52 AGEAGLE AERIAL SYSTEMS INC: BUSINESS OVERVIEW
             11.1.8 TOPCON
                        TABLE 163 TOPCON: COMPANY OVERVIEW
             11.1.9 CLIMATE LLC
                        TABLE 164 CLIMATE LLC: BUSINESS OVERVIEW
             11.1.10 TEEJET TECHNOLOGIES
                        TABLE 165 TEEJET TECHNOLOGIES: COMPANY OVERVIEW
     11.2 OTHER PLAYERS 
             11.2.1 HEXAGON AB
             11.2.2 ABACO S.P.A.
             11.2.3 PRECISION HAWK
             11.2.4 EC2CE
             11.2.5 DESCARTES LABS, INC.
             11.2.6 CROPX INC.
             11.2.7 FARMERS EDGE INC.
             11.2.8 GROWNETICS
             11.2.9 CROPIN TECHNOLOGY SOLUTIONS PRIVATE LIMITED
             11.2.10 GAMAYA
             11.2.11 KUBOTA CORPORATION
             11.2.12 CNH INDUSTRIAL N.V.
             11.2.13 DICKEY-JOHN CORPORATION
             11.2.14 TELUS
             11.2.15 THE YIELD TECHNOLOGY SOLUTIONS PTY LTD.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
12 APPENDIX (Page No. - 293)
     12.1 DISCUSSION GUIDE 
     12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.3 CUSTOMIZATION OPTIONS 
     12.4 RELATED REPORTS 
     12.5 JAPAN CUSTOMIZATION 
             TABLE 166 JAPAN: PRECISION FARMING MARKET, BY OFFERING, 2018–2021 (USD MILLION)
             TABLE 167 JAPAN: MARKET, BY OFFERING, 2022–2030 (USD MILLION)
             TABLE 168 JAPAN: MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
             TABLE 169 JAPAN: MARKET, BY APPLICATION, 2022–2030 (USD MILLION)
             TABLE 170 JAPAN: MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION)
             TABLE 171 JAPAN: MARKET, BY TECHNOLOGY, 2022–2030 (USD MILLION)
     12.6 AUTHOR DETAILS 
 

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.

Request Customization

Instant Answers with GPT - Ask Now!

Ask real questions. Get complete answers !
Report Code
SE 2831
Published ON
Aug, 2023
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Precision Farming Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback