Precision Farming Market

Deere & Company (John Deere) (US) and Trimble (US) are leading players in Precision Farming Market

The precision farming market is expected to grow from USD 8.5 billion in 2022 to USD 15.6 billion by 2030, at a CAGR of 7.9%. The most significant factor driving the growth of the precision farming market is the rapid adoption of advanced technologies in precision farming to reduce labor cost, increased adoption of Internet of Things (IoT) devices in agricultural fields, substantial cost savings associated with precision farming, climate change and need to meet rising demand for food and Increasing promotion of precision farming techniques by governments worldwide.

Major players in the precision farming market are Deere & Company (John Deere) (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader Technology (US), Teejet Technologies (US), Topcon Positioning Systems (US), Taranis (Israel), AgEagle Aerial Systems (US), ec2ce (Spain), Descartes Labs (US), Granular (US), Autonomous Tractor Corporation (US), Hexagon Agriculture (Brazil), The Climate Corporation (US), and CropX Technologies (Israel). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.

Deere & Company (US) is a US-based manufacturing corporation. The company and its subsidiaries manufacture and distribute agriculture and turf equipment, as well as construction and forestry equipment worldwide. For precision farming, the company offers various products, such as display systems, guidance and machine control systems, mowers, tractors and loaders, field and crop systems, and utility vehicles. The company also focuses on inorganic growth strategies such as partnership. For instance in June 2021, Deere & Company signed a partnership agreement with Mobile Track Solution to provide digital solutions for precision farming. In 2019, Deere & Company launched a start-up collaborator program to interact with start-ups whose technologies could add value for John Deere customers. In January 2021, the company added four new companies to its 2021 start-up collaborator program—Nori, NVision Ag, Scanit, and Teleo.

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Deere & Company focuses on offering innovative products that can ease the way of performing different tasks. The company has positioned itself as one of the major brands in the precision farming market. Deere & Company has strengthened its position in North America and is expanding its geographic footprint in emerging markets. For maintaining its leading position in the precision farming market, the company is collaborating with local and global companies.

Trimble (US) is a hardware, software, and services provider that caters to specific industries and sectors, such as agriculture, building and construction, geospatial, natural resources, utilities & government, and transportation. The company operates through the Buildings and Infrastructure, Geospatial, Transportation, and Resources and Utilities business segments. Trimble has expertise in developing global positioning systems (GPS), lasers, and optical and inertial technologies. Farming automation solutions are provided through the Resources and Utilities business division. Trimble has strengthened its presence in North America and is expanding its geographic footprint to emerging markets. It has made consistent product enhancements and launches between 2018 and 2021. For instance, in 2019, the company introduced Farmer Core, a new entry-level Trimble Ag Software subscription that enables farmers to connect all aspects of their farm operations. In 2018, the company upgraded its Trimble Ag Software with added features such as crop health imagery and work orders.

The company can explore new opportunities in developing countries such as China, India, Brazil, and Chile by partnering with local distributors and companies offering precision farming tools. It can leverage its strong position in this market to expand in emerging markets of RoW

Another important player in the precision farming market is AGCO(US). AGCO Corporation is one of the leaders in the designing, manufacturing, and distributing precision farming solutions, including harvesters, hay tools, sprayers, forage and tillage equipment, as well as a line of tractors. The company offers various products, including guidance and autonomy systems, yield monitoring and advanced sensors, displays and mobile applications, and grain storage monitoring systems. the company focuses on delivering the best agricultural solutions to its customers, helping them in increasing productivity and profitability. The company highly focuses on developing smart farming solutions. The company provides precision farming solutions covering the entire crop life cycle from planting, growing, harvesting to storage. In October 2020, it adopted a 2-tier distribution model that will support South African dealers directly from its headquarters in Johannesburg. In 2019, the company presented the IDEAL combine, a clean-sheet design of an axial combine, to measure crop flow through embedded sensors and visualize the data. The technology concept can be applied to other farm equipment as well. The company adopts the acquisition strategy only to fill any product gaps or for geographic expansion.

Other major players in the precision farming market are mainly focusing on acquisitions and partnerships along with new product launches to achieve continuous and sustainable development.

Related Reports:

Precision Farming Market with COVID-19 Impact Analysis by Technology (Guidance, Remote Sensing and Variable Rate Technology), Offering, Application, and Region (Americas, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2030

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Precision Farming Market Size,  Share & Growth Report
Report Code
SE 2831
RI Published ON
3/7/2022
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