The global precision planting market size is estimated to be USD 5.0 billion in 2022 and is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.3% during the forecast period. Substantial cost-savings associated with precision planting and seeding equipment, surge in the adoption of advanced technologies in precision agriculture to reduce labor cost, and increasing promotion of precision planting techniques by governments worldwide. Moreover, climate change and need to meet rising demand for food, and focus on integration of geo-mapping and sensor data with planting equipment will drive the growth of the industry in the near future.
The Precision Planting market is consolidated as the top five companies collectively hold a substantial market share of more than 60%. Product launches, product developments, agreements, partnerships, collaborations, and acquisitions were the major growth strategies adopted by players to strengthen their position in the precision planting market. These companies operate worldwide and are involved in developing precision planting solutions for various application such as row crops; cereals, oilseeds & pulses; and forestry. They rely on their R&D capabilities and carry out significant product launches, resulting in their large market shares.
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Deere & Company is one of the leading players in the precision planting market and accounts for around 40% of the high-speed precision planter market, globally. The company has a renowned brand equity and a well-established distribution network, which makes it a leading player in the precision planting market. It offers a broad portfolio of agricultural equipment and has a wide geographic presence worldwide. The company has developed innovative products that are helping growers increase productivity and profitability. It makes high R&D investments, which help it maintain its leadership position in the precision farming market. The company firmly believes that newer technologies, such as IoT and AI will reshape the agriculture industry in the years to come. Its strong financials, especially in the agriculture and turf division, have helped the company to make significant investments in the development of advanced products and technologies. The company has positioned itself as one of the major brands in the precision planting market. Deere & Company has strengthened its position in North America and is expanding its geographic footprint in emerging markets. Deere & Company has adopted acquisitions and product launches & developments as key business strategies to grow in the precision planting market. For example, in March 2022, Deere & Company collaborated with SureFire Ag Systems (US) to offer products under the brand name SurePoint Ag Systems to utilize Deere technologies to enhance SurePoint Ag Systems’ product productivity. The latest addition to the product portfolio of Deere & Company was ExactRate, launched in February 2020, which is a factory-installed option that precisely monitors and controls the application of liquid fertilizer during planting.
Trimble Inc. is one of the key players in the precision planting market. It provides solutions that solve complex technical challenges in the agricultural industry. These solutions enable farmers and advisors to allocate limited resources to produce a safe and reliable food supply in a profitable and environmentally sustainable manner. The company also offers a wide range of products and services in the precision planting market. Trimble Inc. has a broad portfolio of precision farming equipment. It focuses on developing innovative products and solutions and strengthening its product development team across the globe for innovation. It extends its product line regularly. The company’s strong manufacturing and distribution capabilities add to its strength and help generate high revenue. Trimble Inc. focuses on offering innovative products and has positioned itself as one of the major brands in the precision planting market. The company 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 2022. For instance, in October 2022, the company introduced next-generation displays—the Trimble GFX-1060 and GFX-1260 guidance displays—for precision agriculture applications. The company also adopted some inorganic growth strategies. In 2022, Trimble Inc. partnered with CLAAS leading manufacturer of agricultural machinery, to develop a next-generation precision farming system for CLAAS tractors, combines, and forage harvesters. 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.
CNH Industrial N.V. is one of the leaders in the global precision planting market. The company operates in the precision planting market through Case IH and New Holland Agriculture brands. CNH Industrial N.V.'s wide portfolio of planting and seeding products meets diverse application requirements. It has a strong brand name and well-established distribution network worldwide. As of December 2021, it has 66 manufacturing plants and 59 R&D centers across 180 countries. The company offers precision planting products in the agriculture segment. The company has a presence in Europe, North America, South America, and the Rest of the World. The company has adopted product launches and acquisitions as key growth strategies. CNH Industrial N.V. focuses on offering technologically advanced products through agreements and acquisitions. For instance, in December 2019, it acquired the Australian agricultural implement manufacturer K-Line Ag. The acquisition enhanced Case IH Agriculture's worldwide crop production portfolio with key high-speed tillage and residue management equipment. It increases focus on product launches and developments to expand its product portfolio in the precision planting market. The company launched many products from 2021 to 2022. For instance, in September 2022, Case IH updated its 2000 series early riser planters. Among the updates are larger liquid capacities for the 2150 Early Riser front-fold planter, a 48th-row option for the 2160 Early Riser large front-fold planter, and software updates for the AFS Pro 1200 planter.
Kinze Manufacturing Inc. is one of the leading players in the precision planting market. The company offers innovative precision planting products, such as planters for row-crop production, grain auger carts, and high-speed tillage equipment. The company has a wide geographic presence and depends on its strong dealer and distribution network. Kinze Manufacturing, Inc., has good industry coverage in terms of the farming equipment and precision planting market. Although the company though is not listed, it has excellent financial strength and comes with a fully integrated supply chain and distribution network. The company is strategically expanding its product portfolio. It is focusing on product launches and agreements. In February 2022, the company introduced the 3505 True Speed high-speed planter for the 2023 planting season, providing advanced technology and improved productivity for small farms and small fields. Kinze’s True Speed technology also includes a high-speed seed meter and seed tube. In February 2020, the company signed an agreement with Surefire Ag Systems to allow SureFire to install its liquid fertilizer planter solutions on Kinze planters. The company could use its strong product portfolio, brand image, and distribution channels to strengthen its presence in emerging markets of Asia Pacific, Latin America, and the Rest of the World (RoW) and reap benefits through new revenue channels.
Precision Planting (brand of AGCO) is a leading manufacturer and designer of Agri-tech products, Precision Planting a brand of AGCO sits at the global convergence of the food, agriculture, and environmental challenges. Precision Planting uses a unique and innovative approach to develop smart products that are used to optimize the liquid application, planting, and harvesting operations worldwide. The company focuses on issues that cost farmers money and solve them with a product that pays for itself quickly. It may be possible to do this by retrofitting existing equipment, or by adding Precision Planting solutions to new equipment. Furthermore, the company is well-known for providing practical education resources to farmers and addressing the current agronomic challenges they face. Precision Planting expertise and product line cover the following areas: Monitoring & Measurement, Liquid Control/Delivery, Meters, Downforce Control, Seed Delivery, and Emergence. In 2018, Precision Planting opened its Precision Technology Institute (PTI) in Pontiac, Illinois, an agronomic research facility and a real-life farm environment to allow farmers to experience Precision Planting's technologies and products. PTI is an educational site that focuses on agronomy, new technology, and equipment. PTI's research focuses on agronomic practices for precision agriculture. There are over 400 Precision Planting dealerships in the continental United States. Through its unique independent dealer network, the company provides technologies to growers around the world.
Precision Planting Market by Offering (Hardware, Software, Services), System Type (High-Speed Planters, Precision Air Seeders, Drones), Drive Type (Electric Drive, Hydraulic Drive), Application, Farm Size and Region - Global Forecast to 2027
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