Precision Planting Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), System Type (High-Speed Precision Planting Systems, Precision Air Seeders, Drones), Farms Size, Drive Type (Electric, Hydraulic), Application, and Geography - Global Forecast to 2025
[199 Pages Report] The precision planting market is estimated to be USD 3.6 billion in 2020 and projected to reach USD 4.6 billion by 2025, at a CAGR of 5.1%. The most significant factor driving the precision planting market is the increasing focus on farm efficiency and crop productivity due to the rising global population. Precision planting has the potential to transform the agricultural sector by making traditional farming activities more efficient and predictable. The high demand for agricultural products due to population growth; increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques are the major factors fueling the growth of the precision planting market.
COVID-19 impact on the global precision planting market
The global precision planting market includes major players such as Deere & Company, Trimble Inc., AGCO Corporation, CNH Industrial, and Topcon Positioning Systems, Inc.,. The spread of COVID-19 across the globe have resulted in disruptions in supply chain across agriculture ecosystems including precision planting market. The supply of hardware equipment has been hindered and has affected the companies across the agriculture value chain. In the realistic scenario, it has been assumed that all the 4 quarters of the financial year 2020 will see negative growth. Some recovery is expected by the first quarter of 2021, and the market might start picking momentum by the end of 2021. In this scenario, it has been assumed that COVID-19 will have a minimum impact from the first quarter of 2021. Major agricultural OEMs such as John Deere, AGCO, and CNH have reduced their sales guidance for the first half of FY 2020 by 10 to 20%, mainly due to disruptions in the supply chain. Most of the manufacturing facilities of these companies are operating below their standard capacity, which is expected to impact their sales negatively in the short- to medium-term.
However, the pandemic is expected to result in accelerating the deployment of connected and autonomous precision planting systems in the years to come. As per FY20–21 second quarter sales data of John Deere, the company has reported strong growth for its telematics and connected farm equipment products, indicating robust demand for connecting technologies in the years to come. IoT device installations in agriculture farms around the world are projected to witness a compound annual growth rate of 14%. COVID-19 is further expected to accelerate the installation of IoT devices in agriculture farms across the world to optimize autonomous precision planting with reduced labor requirements in the field. The number of connected agricultural devices is expected to wtiness a promising growth in medium to long term.
The recovery in the precision planting market is expected from second half of 2021 ownwards, where demand for high-speed precision planting systems and precision air seeders is expected to grow significantly.
Precision planting market Dynamics
Driver: Benefits associated with precision planters such as optimal plant growth and higher crop yield
Seeding and planting are the foundation for optimal yield from a crop. Placing seeds at the correct spacing and right depth provides the ideal condition for crop germination due to the availability of sufficient resources for growth. There has been a rise in the adoption of precision planting and seeding equipment across the world to ensure uniform seed placement and control over the depth of seed placement. Advanced precision planting equipment are integrated with technologies such as GPS, VRT, guidance technologies, and sensing and monitoring devices, which provide real-time farm data for efficient farm operations and avoid overlapping of seeds and wastage of resources. With these technologies, desired planting geometry and uniform distribution and precision placement of seeds/seedlings can be achieved. Additionally, precision planting provides benefits in terms of higher yield and higher profits to the farmers with minimum resources.
Restraint: High purchase, operational, and maintenance costs
A major restraining factor for the precision planting market is the high initial investment involved in owning planting and seeding equipment. Precision planting involves the use of efficient—but highly expensive—planting tools and technologies that include GPS, drones, and GIS, VRT, and satellite devices, as well as skilled personnel, which incur additional running and maintenance costs. The per acre cost of running a precision planter is more than air seeders and opener drill. Precision planting is a smart farming technique that requires technical knowledge to handle the equipment efficiently. Hence, currently, these tools and techniques are not adopted by poor farmers, particularly in developing countries such as India, China, and Brazil.
Opportunity:Increasing popularity of telematics and connectivity services due to COVID-19 pandemic
Connectivity and telematics have witnessed tremendous growth in the last couple of years, and the COVID-19 pandemic has acted as a catalyst in further accelerating its popularity among the growers across the world. The main advantage of connectivity and telematics technologies is that they can access agriculture equipment in the field remotely. During the COVID-19 pandemic, there has been an increase in demand for equipment integrated with smart hardware and telematics technologies as these tools allow growers to follow social distancing norms, and at the same time, decrease downtime and operational costs.
As per the John Deere Q2 2020 press release, the company has reported triple-digit growth in the adoption of connected services such as remote display access and data connectivity services. The high growth of connectivity services has come at a time when the company has reported a decline in its overall revenue and net income by 18% and 41%, respectively, for its Q2 2020, mainly due to the COVID-19 pandemic. This indicates that telematics and connected services are expected to witness robust growth in 2020 and the years ahead.
Challenge: Integration of farm data at a single platform
Precision planting equipment use various interfaces, technologies, and protocols. The lack of technological standardization complicates the integration of systems and hinders optimum data representation. The integration of data at a single platform is a major challenge for the growth of the precision planting market. Precision planting regularly produces high volumes of important data from different sources that mainly pertains to mapping, variable rate seeding, soil testing, weather change, yield monitoring, and historical crop rotation. This data must be integrated properly at a single platform, as successful precision planting relies entirely on it for assessing farm conditions and for decision-making.
Most equipment manufacturers use their proprietary interface communication protocols, making their devices incompatible with other manufacturing brands. Thus, these brands need to work together to develop systems that are compatible with each other to monitor/control crop growth and farm conditions for maximum yields. Thus, it becomes challenging for agriculturists and farmers to receive different equipment from different brands, integrate them, and build a smart planting system. This, in turn, acts as a challenge for the growth of the precision planting market.
Hardware to hold largest market share during forecast period
The hardware segment is expected to continue to hold the largest share of the precision planting market from 2020 to 2025. The growth of this segment is attributed to the increasing adoption of automation and control devices, such as drones/unmanned aerial vehicles (UAV), GPS devices, control systems, guidance systems, delivery systems, and display systems. In precision planters, hardware such as delivery systems, control systems, seed meters, sensors, and GPS devices play a vital role in accurate seed placement and uniform distribution of seeds. GPS-based auto-guidance technology is used in agricultural vehicles to reduce the overlapping during the field mapping process, thereby saving fuel, labor, and time, and leading to soil compaction. The increasing adoption of advanced planting and seeding equipment with new features such as VRT and guidance systems for precision planting is expected to drive the growth of the precision planting market for hardware.
High-speed precision planting systems to hold largest market share between 2020 and 2025
The high-speed precision planting systems segment is expected to hold the largest share of the precision planting market in 2020, and a similar trend is likely to continue in the coming years. High RoI and growing awareness about the benefits of using these planting systems among farmers are the primary reasons for the largest market share of this segment. Precision planters with GPS-based auto-guidance technology allow growers to reduce the overlapping of seeds during the planting process, thereby substantially saving on the input costs.
North America to account for largest share in precision planting market from 2020 to 2025
North America is expected to account for the largest share of the precision planting market in 2020 owing to the presence of a substantial number of large farms and major players such as Deere & Company (US), AGCO Corporation (US), and Topcon Positioning Systems (US) in this region. These companies have contributed to the growth of the precision planting market by launching innovative products and services, and by extensively spending on the R&D of precision planting technologies. Further, countries in this region, such as the US and Canada, are the early adopters of precision planting technologies since these countries have a large number of progressive farmers with bigger farms.
Market Playes
The precision planting market is dominated by a few globally established players such as Deere & Company (US), Trimble, Inc. (US), AGCO Corporation (US), CNH Industrial (US), Topcon Positioning (US), and Kinze Manufacturing (US)
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|
Report Metric |
Scope |
|
Market size available for years |
2016–2025 |
|
Base year considered |
2019 |
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Forecast period |
2020–2025 |
|
Forecast units |
Value (USD Million) and Volume (Thousand Units) |
|
Segments covered |
By Offering, By System Type, By Farm Size, By Drive Type, By Application |
|
Geographies covered |
Asia Pacific, Europe, Americas (North America, South America), and Rest of World |
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Companies covered |
The major players in the precision planting market are Deere & Company (US), Trimble, Inc. (US), AGCO Corporation (US), CNH Industrial (US), Topcon Positioning Systems, Inc. (US), AG Leader Technology (US), Kinze Manufacturing, Inc. (US), Buhler Industries, Inc. (Canada), Case IH Agricultural Equipment Inc. (US), Bourgault Industries Ltd. (Canada), Seed Hawk Inc. (Canada), SeedMaster Manufacturing (Canada), Morris Industries Ltd. (Canada), Stara S/A Indústria de Implementos Agrícolas (Brazil), Kasco Manufacturing Co., Inc. (US), Davimac (Australia), The Climate Corporation (US), DroneSeed (US), Kubota Corporation (Japan), and Dendra Systems (UK). |
The study categorizes the precision planting market based on offering, system type, farm size, drive type, application at the regional and global level.
By Offering
- Hardware
- Automation and control systems
- Sensing and Monitoring Devices
- Sensors
- Cameras
- Software
- Saas
- PaaS
- Services
- System Integration and Consulting Services
- Managed Services
- Connectivity Services
- Assisted Professional Services
By System Type
- High-speed precision planting systems
- Precision Air seeders
- Drones
By Application
- Row Crops
- Cereals, Oilseeds & Pulses
- Forestry
By Drive Type
- Electric Drive
- Hydraulic Drive
By Farm Size
- Above 400 hectares
- Below 400 hectares
By Region
- Americas
- Europe
- Asia Pacific
- Rest of World
Recent Developments
- Deere & Company introduced ExactRate, which is a factory-installed option that precisely monitors and controls the application of liquid fertilizer during planting.
- AGCO introduced the Fendt Momentum planter for row crop farmers in North America to establish a new standard for seed placement accuracy and provide technologies to help farmers overcome planting conditions.
- Trimble Inc. launched a new entry-level Trimble Ag Software subscription, called Farmer Core, which enables farmers to connect all aspects of their farm operations.
- Topcon Agriculture launched the Topcon Agriculture Platform, a cloud-based farm workflow improvement tool, which integrates connectivity, cloud services, and data analytics for farmers
- The AGCO Agriculture Foundation (AAF) partnered with the Kenya Red Cross Society (KRCS) to pilot an initiative to assist in meeting agricultural and nutritional demands at one of Africa’s largest refugee camps.
- CNH Industrial acquired K Line Ag, which is an Australian agricultural tillage and residue management equipment manufacturer.
- Deere & Company acquired PLA (Argentina), a manufacturer of sprayers, planters, and specialty products for agriculture, to provide innovative, cost-effective equipment, technologies, and services to improve the productivity of its customers.
Frequently Asked Questions (FAQ):
What is the current size of the global precision planting market?
The global precision planting market is estimated to be USD 3.6 billion in 2020 and projected to reach USD 4.6 billion by 2025, at a CAGR of 5.1%. Major factors driving the growth of the precision planting market include increasing focus on farm efficiency and crop productivity due to the rising global population, increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques.
Who are the winners in the global precision planting market?
Companies such as Deere & Company (US), Trimble, Inc. (US), AGCO Corporation (US), CNH Industrial (US), Topcon Positioning Systems, Inc. (US), and Kinze Manufacturing, Inc. (US) come under the winners category. These companies cater to the requirements of their customers by providing precision planting equipment and solutions with a presence in majority of countries. These players have adopted strategies such as mergers & acquisitions, partnerships, collaborations, and product launches to grow in the market.
What is the COVID-19 impact on precision planting solutions and service providers ?
The industry is expected to witnessed a marginal dip due to the COVID-19 pandemic as the movement restriction and lockdowns has resulted in the disruptions in the supply chain and led to a shortage of equipment, however the use of automation and remotely connected technologies could lead to higher adoption of precision planting systems during post COVID-19 period. COVID-19 has disrupted the supply chain in the precision planting market, and companies are exploring new opportunities to interact with growers and farmers by leveraging technologies. Companies have started focusing more on wireless platforms to enable real-time decision making with respect to autonomous planting system. For instance, AGCO introduced the Fendt Momentum planter for row crop farmers in North America to establish a new standard for seed placement accuracy and provide technologies to help farmers overcome planting conditions.
Which application segment is expected to drive the growth of precision planting market in the next 5 years ?
The demand for precision planting from the row crops application has been on the rise in the recent years, and is expected to grow at the higher rate during the forecast period. Major factors contributing to the growth of the precision planting market include growing emphasis on increasing farm productivity and profitability of farmers and growers using precision planting systems, high demand for agricultural products due to population growth; increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 22)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION AND SCOPE
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 26)
2.1 RESEARCH DATA
FIGURE 1 PRECISION PLANTING MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from 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 Estimating market size by bottom-up approach (demand side)
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Estimating market size by top-down approach (supply side)
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 4 MARKET SIZE ESTIMATION: DEMAND-SIDE APPROACH
FIGURE 5 MARKET SIZE ESTIMATION: SUPPLY-SIDE APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 39)
FIGURE 7 PRECISION PLANTING MARKET, 2017–2025 (USD BILLION)
3.1 POST-COVID-19: REALISTIC SCENARIO
3.2 POST-COVID-19: OPTIMISTIC SCENARIO
3.3 POST-COVID-19: PESSIMISTIC SCENARIO
FIGURE 8 HARDWARE TO ACCOUNT FOR LARGEST SHARE OF PRECISION PLANTING MARKET FROM 2020 TO 2025
FIGURE 9 HIGH-SPEED PRECISION PLANTING SYSTEMS TO DOMINATE PRECISION PLANTING MARKET FROM 2020 TO 2025
FIGURE 10 ROW CROPS TO WITNESS MAXIMUM ADOPTION OF PRECISION PLANTING SYSTEMS DURING FORECAST PERIOD
FIGURE 11 ABOVE 400 HA FARM SIZE TO WITNESS HIGHER GROWTH IN PRECISION PLANTING MARKET BETWEEN 2020 AND 2025
FIGURE 12 HYDRAULIC DRIVE TO HOLD LARGER SIZE OF PRECISION PLANTING MARKET IN 2020
FIGURE 13 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF PRECISION PLANTING MARKET IN 2020
4 PREMIUM INSIGHTS (Page No. - 46)
4.1 ATTRACTIVE OPPORTUNITIES IN PRECISION PLANTING MARKET
FIGURE 14 GROWING DEMAND FOR AGRICULTURAL PRODUCTS OWING TO INCREASING GLOBAL POPULATION WOULD DRIVE PRECISION PLANTING MARKET
4.2 PRECISION PLANTING MARKET IN APAC, BY SYSTEM TYPE AND COUNTRY
FIGURE 15 HIGH-SPEED PRECISION PLANTING SYSTEMS AND AUSTRALIA HELD LARGEST SHARE OF PRECISION PLANTING MARKET IN ASIA PACIFIC IN 2019
4.3 PRECISION PLANTING MARKET, BY OFFERING
FIGURE 16 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF PRECISION PLANTING MARKET IN 2020 AND 2025
4.4 PRECISION PLANTING MARKET, BY APPLICATION
FIGURE 17 ROW CROPS TO ACCOUNT FOR LARGEST SIZE OF PRECISION PLANTING MARKET IN 2020
4.5 GEOGRAPHIC ANALYSIS OF PRECISION PLANTING MARKET
FIGURE 18 AMERICAS TO ACCOUNT FOR LARGEST MARKET SIZE BETWEEN 2020 AND 2025
5 MARKET OVERVIEW (Page No. - 49)
5.1 MARKET DYNAMICS
FIGURE 19 PRECISION PLANTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.1.1 DRIVERS
5.1.1.1 Benefits associated with precision planters such as optimal plant growth and higher crop yield
5.1.1.2 Pressure on agriculture industry to increase food production
5.1.1.3 Focus on integration of geomapping and sensor data with planting equipment
5.1.1.4 Substantial cost-savings associated with precision planting and seeding equipment
FIGURE 20 IMPACT ANALYSIS: DRIVERS
5.1.2 RESTRAINTS
5.1.2.1 High purchase, operational, and maintenance costs
5.1.2.2 Short flight time and limited power backup of drones
FIGURE 21 IMPACT ANALYSIS: RESTRAINTS
5.1.3 OPPORTUNITIES
5.1.3.1 Drones, seeding robots, and autonomous planters to gain popularity during COVID-19 pandemic
5.1.3.2 Increasing popularity of telematics and connectivity services due to COVID-19 pandemic
FIGURE 22 IMPACT ANALYSIS: OPPORTUNITIES
5.1.4 CHALLENGES
5.1.4.1 Integration of farm data at a single platform
5.1.4.2 Temporary production shutdown due to supply chain disruptions and weakened demand triggered by COVID-19 pandemic
FIGURE 23 IMPACT ANALYSIS: CHALLENGES
6 INDUSTRY TRENDS (Page No. - 56)
6.1 VALUE CHAIN ANALYSIS
FIGURE 24 VALUE CHAIN: PRECISION PLANTING MARKET
6.1.1 MAJOR PLAYERS IN PRECISION PLANTING MARKET
6.2 SUPPLY CHAIN ANALYSIS
FIGURE 25 SUPPLY CHAIN: PRECISION PLANTING MARKET
6.3 IMPACT OF COVID-19 ON PRECISION PLANTING MARKET
6.3.1 SUPPLY CHAIN DISRUPTIONS IN PRECISION PLANTING MARKET DUE TO COVID-19 PANDEMIC
6.3.2 ACCELERATED DEMAND FOR CONNECTED AND TELEMATICS SYSTEMS DURING POST-COVID-19 PERIOD
7 PRECISION PLANTING MARKET, BY OFFERING (Page No. - 60)
7.1 INTRODUCTION
FIGURE 26 SERVICES SEGMENT TO RECORD HIGHEST CAGR IN PRECISION PLANTING MARKET, BY OFFERING, FROM 2020 TO 2025
TABLE 1 PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
7.2 HARDWARE
FIGURE 27 SENSING AND MONITORING DEVICES TO RECORD HIGHER CAGR IN PRECISION PLANTING HARDWARE MARKET FROM 2020 TO 2025
TABLE 2 PRECISION PLANTING HARDWARE MARKET, BY TYPE, 2017–2025 (USD MILLION)
TABLE 3 PRECISION PLANTING HARDWARE MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 4 PRECISION PLANTING HARDWARE MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
FIGURE 28 AMERICAS TO HOLD LARGEST SIZE IN PRECISION PLANTING HARDWARE MARKET IN 2020
TABLE 5 PRECISION PLANTING HARDWARE MARKET, BY REGION, 2017–2025 (USD MILLION)
7.2.1 AUTOMATION AND CONTROL SYSTEMS
FIGURE 29 DRONES SEGMENT OF AUTOMATION AND CONTROL SYSTEMS MARKET TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
TABLE 6 AUTOMATION AND CONTROL SYSTEMS MARKET, BY TYPE, 2017–2025 (USD MILLION)
7.2.1.1 Display systems
7.2.1.1.1 Integration of display devices into precision planting systems to drive display systems market
7.2.1.2 Guidance systems
7.2.1.2.1 Automated guidance and steering systems are being adopted in tractors and agriculture robots
7.2.1.3 GPS receivers
7.2.1.3.1 High demand for GPS receivers in variable rate application
TABLE 7 GPS RECEIVERS MARKET, BY TYPE, 2017–2025 (USD MILLION)
7.2.1.3.2 DGPS
7.2.1.3.2.1 Decreasing cost of DGPS expected to lead to its increased adoption
7.2.1.3.3 RTK
7.2.1.3.3.1 Higher accuracy provided by RTK as compared with conventional receivers is propelling growth of this technology
7.2.1.4 Drones/UAVs
7.2.1.4.1 Implementation of drones for reforestation and precise seeding to drive growth of this segment during forecast period
7.2.1.5 Drive systems
7.2.1.5.1 Electric drive system to witness higher growth during the forecast period
7.2.1.6 Control systems
7.2.1.6.1 Demand for wireless control systems to witness significant growth in coming years
7.2.1.7 Others
7.2.2 SENSING AND MONITORING DEVICES
FIGURE 30 SMART METERING SYSTEMS TO HOLD LARGEST SIZE IN SENSING AND MONITORING DEVICES MARKET IN 2020
TABLE 8 SENSING AND MONITORING DEVICES MARKET, BY TYPE, 2017–2025 (USD MILLION)
7.2.2.1 Smart metering systems
TABLE 9 SMART METERING SYSTEMS MARKET, BY TYPE, 2017–2025 (USD MILLION)
7.2.2.1.1 Single seed metering systems
7.2.2.1.1.1 Single seed metering systems to hold largest market share between 2020 and 2025
7.2.2.1.2 Vacuum seed meters
7.2.2.1.2.1 High adoption of vacuum seed meters for planting small and irregular-shaped seeds
7.2.2.1.3 Positive air metering systems
7.2.2.1.3.1 Positive air metering systems have gained popularity in planting systems due to low pressure and less hydraulic power requirement
7.2.2.1.4 Advanced seed meters
7.2.2.1.4.1 Advanced seed meters are less susceptible to rpm and ground speed limitations
7.2.3 SENSORS
7.2.3.1 Increasing adoption of advanced planting techniques and declining ASP of sensors to propel growth of sensors segment
TABLE 10 SENSORS MARKET, BY TYPE, 2017–2025 (USD MILLION)
7.2.3.1.1 Force sensors
7.2.3.1.1.1 Force sensors to grow at substantial CAGR during forecast period
7.2.3.1.2 Flow sensors
7.2.3.1.2.1 Flow sensors expected to witness significant demand due to rising adoption of variable rate seeding
7.2.3.1.3 Moisture sensors
7.2.3.1.3.1 Moisture sensors are expected to witness high adoption for efficient irrigation management
7.2.3.1.4 Temperature sensors
7.2.3.1.4.1 Adoption of temperature sensors is increasing for sowing and checking suitability of soil for planting
7.2.3.1.5 Nutrient sensors
7.2.3.1.5.1 Nutrient sensors to witness highest growth during forecast period
7.2.3.1.6 Others
7.2.4 CAMERAS
7.2.4.1 Cameras to witness highest growth in precision planting hardware market
7.2.4.2 Delivery systems
7.2.4.2.1 Delivery systems for seeds and fertilizers to witness robust growth by 2025
7.2.4.3 Others
TABLE 11 PRECISION PLANTING HARDWARE MARKET, BY HARDWARE TYPE, 2017–2025 (UNIT SHIPMENT)
7.3 SOFTWARE
7.3.1 SAAS
7.3.1.1 Increasing popularity of software-as-a-service model fuels demand for cloud technology to ensure remote access to crucial data
7.3.2 PAAS
7.3.2.1 Web-based delivery model held larger share of precision planting software market in 2019
FIGURE 31 SAAS TO HOLD LARGER SIZE OF SOFTWARE MARKET IN 2020
TABLE 12 SOFTWARE MARKET, BY TYPE, 2017–2025 (USD MILLION)
TABLE 13 SOFTWARE MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 14 SOFTWARE MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
FIGURE 32 SOFTWARE MARKET TO GROW AT HIGHEST CAGR IN APAC DURING FORECAST PERIOD
TABLE 15 SOFTWARE MARKET, BY REGION, 2017–2025 (USD MILLION)
7.4 SERVICES
7.4.1 SYSTEM INTEGRATION AND CONSULTING SERVICES
7.4.1.1 High demand for integration of software and hardware equipment to propel market growth for system integration and consulting services
7.4.2 MANAGED SERVICES
7.4.2.1 Farm operation services
7.4.2.1.1 Farm operation services help generate records and integrate unstructured data
7.4.2.2 Data services
7.4.2.2.1 Growing number of mobile applications to boost demand for data services
7.4.2.3 Analytics services
7.4.2.3.1 Increased demand for real-time information to propel growth of analytics services market
7.4.3 CONNECTIVITY SERVICES
7.4.3.1 Connectivity services market expected to grow at highest CAGR during forecast period
7.4.4 ASSISTED PROFESSIONAL SERVICES
7.4.4.1 Assisted professional services market to grow significantly from 2020 to 2025
FIGURE 33 SYSTEM INTEGRATION AND CONSULTING SERVICES TO HOLD LARGEST MARKET SIZE IN 2025
TABLE 16 SERVICES MARKET, BY TYPE, 2017–2025 (USD MILLION)
TABLE 17 SERVICES MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 18 SERVICES MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
FIGURE 34 SERVICES MARKET IN ROW TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 19 SERVICES MARKET, BY REGION, 2017–2025 (USD MILLION)
8 PRECISION PLANTING MARKET, BY SYSTEM TYPE (Page No. - 84)
8.1 INTRODUCTION
FIGURE 35 HIGH-SPEED PRECISION PLANTING SYSTEMS TO HOLD LARGEST MARKET SIZE IN 2020
TABLE 20 PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
8.2 HIGH-SPEED PRECISION PLANTING SYSTEMS
8.2.1 HIGH-SPEED PRECISION PLANTING SYSTEMS TO WITNESS ROBUST GROWTH IN 2021 AFTER TEMPORARY SLOWDOWN IN 2020
TABLE 21 HIGH-SPEED PRECISION PLANTING SYSTEMS MARKET, BY OFFERING, 2017–2025 (USD MILLION)
FIGURE 36 HIGH-SPEED PRECISION PLANTING SYSTEMS MARKET TO GROW AT HIGHEST CAGR IN APAC DURING FORECAST PERIOD
TABLE 22 HIGH-SPEED PRECISION PLANTING SYSTEMS MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 23 HIGH-SPEED PRECISION PLANTING SYSTEMS MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
8.3 PRECISION AIR SEEDERS
8.3.1 PRECISION AIR SEEDERS TO WITNESS STRONG DEMAND FROM SMALL AND MEDIUM-SIZED FARMS
FIGURE 37 HARDWARE TO HOLD LARGEST SIZE IN PRECISION AIR SEEDERS MARKET IN 2020
TABLE 24 PRECISION AIR SEEDERS MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 25 PRECISION AIR SEEDERS MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 26 PRECISION AIR SEEDERS MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
8.4 DRONES
8.4.1 INCREASING NEED FOR REFORESTATION AT FASTER PACE IS EXPECTED TO PROPEL GROWTH OF DRONES SEGMENT
FIGURE 38 SERVICES SEGMENT TO GROW AT HIGHEST CAGR IN DRONES MARKET FROM 2020 TO 2025
TABLE 27 DRONES MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 28 DRONES MARKET, BY REGION, 2017–2025 (USD MILLION)
9 PRECISION PLANTING MARKET, BY DRIVE TYPE (Page No. - 92)
9.1 INTRODUCTION
FIGURE 39 ELECTRIC DRIVE TO EXHIBIT HIGHER CAGR IN PRECISION PLANTING MARKET FROM 2020 TO 2025
TABLE 29 PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
9.2 ELECTRIC DRIVE
TABLE 30 PRECISION PLANTING MARKET FOR ELECTRIC DRIVE, BY OFFERING, 2017–2025 (USD MILLION)
FIGURE 40 PRECISION PLANTING MARKET FOR ELECTRIC DRIVE TO GROW AT HIGHEST CAGR IN APAC DURING FORECAST PERIOD
TABLE 31 PRECISION PLANTING MARKET FOR ELECTRIC DRIVE, BY REGION, 2017–2025 (USD MILLION)
9.3 HYDRAULIC DRIVE
FIGURE 41 SERVICES SEGMENT TO GROW AT HIGHEST CAGR IN HYDRAULIC DRIVE MARKET FROM 2020 TO 2025
TABLE 32 PRECISION PLANTING MARKET FOR HYDRAULIC DRIVE, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 33 PRECISION PLANTING MARKET FOR HYDRAULIC DRIVE, BY REGION, 2017–2025 (USD MILLION)
10 PRECISION PLANTING MARKET, BY APPLICATION (Page No. - 97)
10.1 INTRODUCTION
FIGURE 42 ROW CROPS APPLICATION TO HOLD LARGEST SIZE IN PRECISION PLANTING MARKET DURING FORECAST PERIOD
TABLE 34 PRECISION PLANTING MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
10.2 ROW CROPS
10.2.1 HIGH-SPEED PRECISION PLANTERS ARE BEING USED FOR PLANTING ROW CROPS IN LARGE FARMS
FIGURE 43 PRECISION AIR SEEDERS TO GROW AT HIGHER CAGR IN PRECISION PLANTING MARKET FOR ROW CROPS APPLICATION FROM 2020 TO 2025
TABLE 35 PRECISION PLANTING MARKET FOR ROW CROPS, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
10.3 CEREALS, OILSEEDS & PULSES
FIGURE 44 PRECISION AIR SEEDERS TO HOLD LARGEST SIZE IN PRECISION PLANTING MARKET FOR CEREALS, OILSEEDS, AND PULSES APPLICATION IN 2025
TABLE 36 PRECISION PLANTING MARKET FOR CEREALS, OILSEEDS, AND PULSES, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
10.4 FORESTRY
11 PRECISION PLANTING MARKET, BY FARM SIZE (Page No. - 102)
11.1 INTRODUCTION
FIGURE 45 ADOPTION OF PRECISION PLANTING SYSTEMS IN FARMS ABOVE 400 HECTARES IS EXPECTED TO GROW AT A HIGHER RATE
TABLE 37 PRECISION PLANTING MARKET, BY FARM SIZE, 2017–2025 (USD MILLION)
11.2 ABOVE 400 HECTARES
TABLE 38 PRECISION PLANTING MARKET FOR ABOVE 400 HA, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 39 PRECISION PLANTING MARKET FOR ABOVE 400 HA, BY OFFERING, 2017–2025 (USD MILLION)
11.3 BELOW 400 HECTARES
TABLE 40 PRECISION PLANTING MARKET FOR BELOW 400 HA, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 41 PRECISION PLANTING MARKET FOR BELOW 400 HA FARM, BY OFFERING, 2017–2025 (USD MILLION)
12 GEOGRAPHIC ANALYSIS (Page No. - 107)
12.1 INTRODUCTION
FIGURE 46 PRECISION PLANTING MARKET: GEOGRAPHIC SNAPSHOT
TABLE 42 PRECISION PLANTING MARKET, BY REGION, 2017–2025 (USD MILLION)
12.2 AMERICAS
TABLE 43 AMERICAS: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 44 AMERICAS: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 45 PRECISION PLANTING MARKET IN AMERICAS, BY DRIVE TYPE, 2017–2025 (USD MILLION)
TABLE 46 PRECISION PLANTING MARKET IN AMERICAS, BY REGION, 2017–2025 (USD MILLION)
12.2.1 NORTH AMERICA
FIGURE 47 NORTH AMERICA: SNAPSHOT OF PRECISION PLANTING MARKET
TABLE 47 PRECISION PLANTING MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 48 NORTH AMERICA: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 49 NORTH AMERICA: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 50 NORTH AMERICA: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.2.1.1 Impact of COVID-19 on North America
12.2.1.2 US
12.2.1.2.1 Subdued demand in Q1 of 2020 due to supply chain disruption caused by COVID-19
TABLE 51 US: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 52 US: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 53 US: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.2.1.3 Canada
12.2.1.3.1 Large farm size to boost market during forecast period
TABLE 54 CANADA: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 55 CANADA: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 56 CANADA: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.2.1.4 Mexico
12.2.1.4.1 Increasing government support to propel adoption of advanced planting equipment
12.2.2 SOUTH AMERICA
FIGURE 48 SOUTH AMERICA: SNAPSHOT OF PRECISION PLANTING MARKET
TABLE 57 SOUTH AMERICA: PRECISION PLANTING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 58 SOUTH AMERICA: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 59 SOUTH AMERICA: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 60 SOUTH AMERICA: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.2.2.1 Impact of COVID-19 on South America
12.2.2.2 Brazil
12.2.2.2.1 Brazil to show recovery for precision planting equipment by mid-2021
TABLE 61 BRAZIL: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 62 BRAZIL: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 63 BRAZIL: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.2.2.3 Argentina
12.2.2.3.1 Argentina to witness robust market growth during forecast period
12.2.2.4 Rest of South America
12.2.2.4.1 Presence of large agriculture farms to propel market growth
12.3 EUROPE
FIGURE 49 EUROPE: SNAPSHOT OF PRECISION PLANTING MARKET
TABLE 64 EUROPE: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 65 EUROPE: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 66 EUROPE: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
TABLE 67 EUROPE: PRECISION PLANTING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
12.3.1.1 Impact of COVID-19 on Europe
12.3.2 GERMANY
12.3.2.1 Germany to hold largest market share during forecast period
TABLE 68 GERMANY: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 69 GERMANY: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 70 GERMANY: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.3.3 UK
12.3.3.1 Increasing number of agreements and partnership between local agriculture technology players and international institutions
TABLE 71 UK: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 72 UK: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 73 UK: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.3.4 FRANCE
12.3.4.1 Strong R & D capabilities and higher affordability of advanced equipment by growers to spur market growth
TABLE 74 FRANCE: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 75 FRANCE: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 76 FRANCE: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.3.5 ITALY
12.3.5.1 Increasing popularity of precision planting techniques by growers in Italy to propel market growth
TABLE 77 ITALY: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 78 ITALY: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 79 ITALY: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.3.6 POLAND
12.3.6.1 Poland expected to grow at highest CAGR in Europe during forecast period
12.3.7 SPAIN
12.3.7.1 Market in Spain to grow owing to increasing adoption of farm mechanization and atomization
12.3.8 REST OF EUROPE
12.4 APAC
FIGURE 50 APAC: SNAPSHOT OF PRECISION PLANTING MARKET
TABLE 80 APAC: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 81 APAC: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 82 APAC: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
TABLE 83 APAC: PRECISION PLANTING MARKET, BY COUNTRY, 2017–2025 (USD MILLION)
12.4.1.1 Impact of COVID-19 on APAC
12.4.2 CHINA
12.4.2.1 China to witness robust market growth during forecast period
12.4.3 JAPAN
12.4.3.1 Surging adoption of advanced planting technology and ICT solution to drive market growth
12.4.4 AUSTRALIA
12.4.4.1 Presence of large farms to provide attractive opportunities to OEMs
TABLE 84 AUSTRALIA: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 85 AUSTRALIA: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 86 AUSTRALIA: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
12.4.5 INDIA
12.4.5.1 India to provide attractive growth opportunities in precision planting market during forecast period
12.4.6 REST OF APAC
12.5 REST OF THE WORLD
TABLE 87 ROW: PRECISION PLANTING MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 88 ROW: PRECISION PLANTING MARKET, BY SYSTEM TYPE, 2017–2025 (USD MILLION)
TABLE 89 ROW: PRECISION PLANTING MARKET, BY DRIVE TYPE, 2017–2025 (USD MILLION)
TABLE 90 ROW: PRECISION PLANTING MARKET, BY REGION/COUNTRY, 2017–2025 (USD MILLION)
12.5.1 AFRICA
12.5.1.1 Increasing awareness of benefits associated with precision planting techniques to boost market growth during forecast period
12.5.2 MIDDLE EAST
12.5.2.1 Increasing adoption of remote sensing technology to propel market growth during forecast period
12.5.3 RUSSIA
12.5.3.1 Presence of large farms to provide attractive opportunities for precision planting technologies
13 COMPETITIVE LANDSCAPE (Page No. - 145)
13.1 OVERVIEW
FIGURE 51 COMPANIES ADOPTED COLLABORATIONS, AGREEMENTS, AND PARTNERSHIPS AS KEY GROWTH STRATEGIES
13.2 PRECISION PLANTING MARKET SHARE ANALYSIS
TABLE 91 MARKET SHARE OF TOP 5 PLAYERS IN PRECISION PLANTING, GLOBAL AND US (2019)
13.3 COMPETITIVE LEADERSHIP MAPPING, 2019
13.3.1 VISIONARY LEADERS
13.3.2 DYNAMIC DIFFERENTIATORS
13.3.3 INNOVATORS
13.3.4 EMERGING COMPANIES
FIGURE 52 PRECISION PLANTING MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
13.4 RECENT DEVELOPMENTS
13.4.1 PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 92 PRODUCT LAUNCHES AND DEVELOPMENTS, 2019–2020
13.4.2 AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS
TABLE 93 PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2018-2020
13.4.3 MERGERS AND ACQUISITIONS
TABLE 94 MERGER AND ACQUISITIONS, 2017–2019
14 COMPANY PROFILES (Page No. - 153)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
14.1 INTRODUCTION
14.1.1 COVID-19 TO HAVE NEGATIVE IMPACT ON REVENUES OF MAJOR OEMS/ODMS IN SHORT-TO-MEDIUM-TERM
14.2 KEY PLAYERS
14.2.1 DEERE & COMPANY
FIGURE 53 DEERE & COMPANY: COMPANY SNAPSHOT
14.2.2 TRIMBLE
FIGURE 54 TRIMBLE: COMPANY SNAPSHOT
14.2.3 AGCO
FIGURE 55 AGCO: COMPANY SNAPSHOT
14.2.4 TOPCON POSITIONING SYSTEMS
14.2.5 CNH INDUSTRIAL
FIGURE 56 CNH INDUSTRIAL: COMPANY SNAPSHOT
14.2.6 KINZE MANUFACTURING, INC.
14.2.7 BUHLER INDUSTRIES INC.
FIGURE 57 BUHLER INDUSTRIES INC.: COMPANY SNAPSHOT
14.2.8 SEED HAWK INC.
14.2.9 STARA S/A INDUSTRIA DE IMPLEMENTOS AGRICOLAS
14.2.10 KASCO MANUFACTURING CO., INC.
14.3 OTHER IMPORTANT PLAYERS
14.3.1 DAVIMAC
14.3.2 MORRIS INDUSTRIES LTD
14.3.3 SEEDMASTER MANUFACTURING INC.
14.3.4 THE CLIMATE CORPORATION
14.3.5 AG LEADER TECHNOLOGY
14.3.6 BOURGAULT INDUSTRIES LTD.
14.3.7 CASE IH AGRICULTURE
14.3.8 DRONESEED
14.3.9 DENDRA SYSTEMS
14.3.10 KUBOTA CORPORATION
14.4 RIGHT TO WIN
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
15 APPENDIX (Page No. - 193)
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 AVAILABLE CUSTOMIZATION
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
The study involved 4 major activities in estimating the size of the precision planting market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
The secondary sources referred for this research study includes International Society for Precision Agriculture (ISPA) (US), PrecisionAg Institute (US), SPAA Precision Agriculture (Australia). In the precision planting market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the precision planting market, along with other dependent submarkets. The key players in the precision planting market have been identified through secondary research, and their market presence have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the precision planting market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (system deployment companies at farm level, agriculture input companies) and supply-side (precision planting hardware component manufacturers) players across four major regions, namely, Americas, Europe, Asia Pacific, and Rest of the World (Middle East & Africa). Approximately 70% and 30% of primary interviews have been conducted from the supply and demand side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the precision planting market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
- Identifying market for precision planting-based on hardware components (automation and control systems, sensing and monitoring devices, sensors, and cameras) in each country
- Identifying the major applications of precision planting systems-related products, along with the types of hardware, software, and services required for various applications
- Estimating the size of the market in each region by adding the sizes of country-wise markets
- Tracking the ongoing and upcoming implementation of precision planting systems by various companies in each region and forecasting the size of the precision planting market based on these developments and other critical parameters, including COVID-19 related impacts
- Arriving at the size of the global market by adding the sizes of region-wise markets
Market Size Estimation Methodology-Bottom-up approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.
The main objectives of this study are as follows:
- To define, describe, and forecast the precision planting market, in terms of value and volume, by component, system type, application, and region
- To forecast the market, for various segments with respect to 4 main regions—the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value and volume
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall precision planting market
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the precision planting market growth
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the precision planting market
- To study the complete value chain and allied industry segments, and perform a value chain analysis of the precision planting market landscape
- To map competitive intelligence based on company profiles, key player strategies, and key developments
- To strategically profile key players and comprehensively analyze their market ranking and core competencies2
- To track and analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and research and development (R&D) in the precision planting market
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Growth opportunities and latent adjacency in Precision Planting Market