Precision Agriculture Market

Global Precision Agriculture Market Size, Trends & Analysis - Forecasts to 2028 By Component (Hardware, Software, and Service), By Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, and Others), By Technology (Guidance Technology, Remote Sensing Technology, and Variable-rate Technology), and By Region (North America, Asia Pacific, Central and South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis

Category Food & Beverages
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This report was recently updated on April 15 2024 with the latest and most recent market numbers

Global Precision Agriculture Market Size

The global precision agriculture market is estimated to exhibit a CAGR of 13.8% from 2023 to 2028.

The primary factors propelling the market growth are the increasing government initiatives supporting the adoption of modern agriculture technology and the growing demand for proper crop monitoring. Many governments support farmers and agricultural enterprises to invest in precision agriculture technologies by offering grants, subsidies, and financial incentives. By helping to defray the upfront expenses of implementing these technologies, these incentives can increase their accessibility to a broader spectrum of agricultural stakeholders. Government initiatives may also include programs to train farmers and agricultural workers to use modern precision farming technology. By guaranteeing that the workforce has the information and abilities necessary to use precision agricultural equipment efficiently, this training helps to accelerate the adoption of these tools. For instance, the U.S. Department of Agriculture's NIFA runs sensor, GIS, and precision technology programs to increase farmer awareness.

Advancements in technologies such as soil monitoring systems, guidance systems, GPS agriculture solutions, and the growing use of cloud-based technology are expected to support the market growth throughout the forecast period. Large agricultural operations are easier to handle when farmers and workers have less physical and mental strain due to automated guiding systems. This can lead to increased productivity and more efficient use of labor resources. Moreover, real-time information on soil parameters, such as pH, nutrient content, and moisture content, is provided via soil monitoring devices. By ensuring that crops receive the proper quantity of water and nutrients, farmers can utilize this data to optimize crop management practices, resulting in higher yields and better crop quality. For instance, Murata launched a highly accurate 3-in-1 soil sensor in April 2022 for data-driven, sustainable farming. The sensor helps farmers optimize vegetable yields and quality while using less water and fertilizer by tracking electrical conductivity, soil temperature, and water content.

The rising adoption of Internet of Things (IoT) technology and the increasing use of smartphones are propelling the growth of the precision agriculture market. IoT technology makes utilization of resources like water, fertilizer, and pesticides at varying rates possible. Farmer waste can be minimized and resource utilization maximized by carefully identifying the places that require specific inputs. Moreover, agricultural equipment using Internet of Things (IoT) sensors can be used to track performance and notify farmers of maintenance requirements before costly breakdowns happen, reducing downtime and repair expenses.

As data analytics in precision agriculture becomes more widespread, the need for effective data management and analytics tools is growing. Companies have an opportunity to offer robust data analytics solutions that allow farmers to make informed decisions based on data. Moreover, automation and robots are becoming increasingly prevalent in agriculture. There is much opportunity for growth for companies developing robotic systems for planting, harvesting, and weeding as well as autonomous tractors and drones.

However, the lack of awareness about precision agriculture products and the high initial investment costs may hamper the market growth.

global precision agriculture market

Global Precision Agriculture Market: By Component

The hardware segment is expected to hold the largest share of the market over the forecast period. The hardware segment is essential to the advancement of sustainable precision farming. Precision farming sensors lessen the environmental impact of agriculture by maximizing crop management and minimizing resource waste. Moreover, using hardware for precise monitoring and control of agricultural processes can lead to higher crop yields and overall farm productivity. This potential for increased profitability is a significant driver for precision agriculture adoption.

The software segment is expected to be the fastest-growing segment in the market from 2023-2028. Precision agriculture software offers decision support tools that help farmers plan and execute agricultural activities more efficiently. These systems provide real-time advice for tasks like planting, watering, and fertilizing, which eventually result in increased yields and lower operating costs. Moreover, cloud-based software systems facilitate easy data exchange, teamwork, and remote access to agricultural data. This flexibility and accessibility are key precision agriculture market trends, which enable farmers to monitor and control their operations remotely and utilize advanced analytics tools.

Global Precision Agriculture Market: By Application

The yield monitoring segment is expected to hold the largest share of the market. Gathering critical data on crop performance and yields is known as yield monitoring. This data is essential for informed decision-making, the cornerstone of precision agriculture services. Farmers can use yield data to optimize planting, fertilization, and irrigation techniques, increasing agricultural yields and resource management. Moreover, precision agriculture applications, such as variable rate technology, rely on accurate yield data to implement site-specific management practices that optimize yields and reduce input costs.

The irrigation management segment is anticipated to be the fastest-growing segment in the market from 2023-2028. Precision irrigation management optimizes water utilization by minimizing over-irrigation, which can result in waterlogging, soil erosion, and nutrient leaching. Farmers can reduce operational expenses and their environmental impact by managing water resources effectively, making it a desirable option from an economic and sustainability standpoint.

Global Precision Agriculture Market: By Technology

The guidance technology segment is expected to hold the largest share of the market. Guidance systems can automate and accurately operate tractors, harvesters, and other farm equipment. Farmers can save money and run their operations more effectively as a result of the reduced overlap and input waste. Additionally, remote sensing, variable rate technology, auto-steering systems, and other precision agricultural technologies are frequently integrated with guidance technology, driving the segment’s growth.

The remote sensing technology segment is anticipated to be the fastest-growing segment in the market from 2023-2028. Remote sensing in agriculture enables continuous monitoring of crop conditions across large areas. Utilizing this data, farmers can identify disease outbreaks, nutritional deficits, and stressors to take early actions that can maximize crop health and output.

asia pacific precision agriculture market

Global Precision Agriculture Market: By Region

North America is expected to be the largest region in the global market. North American governments support and offer incentives to promote precision agriculture technologies. These programs frequently involve tax breaks, grants, and subsidies to increase farmers' access to these technologies. For instance, the Canadian government stated in May 2022 that it would invest USD 441,917.5 to create an integrated system for precision fruit tree cultivation. The investment also sought long-term solutions to the problems caused by the disruption in Canada's apple sector.

Asia Pacific is anticipated to witness rapid growth during the forecast period. Precision farming technology, such as drones, sensor-based systems, and GPS-guided machinery, allows farmers in the Asia Pacific to maximize the use of resources, including pesticides, fertilizers, and water. With the region's diversified climate and problems with water shortages, this technology is essential to guaranteeing effective resource management. For instance, the Indian government introduced Kisan Drones in 2022 for various purposes, including digitizing land records, assessing crops, and applying fertilizer and pesticides.

Global Precision Agriculture Market Share and Competitor Analysis

CropMetrics LLC, Monsanto Company, AgSmarts Inc, CropX, Deere & Company, DICKEY-john, Trimble Navigation Limited, Ag Leader Technology, AGCO Corporation, and AgSense, LLC among others, are some of the key players in the global precision agriculture market.

Please note: This is not an exhaustive list of companies profiled in the report.

Recent Developments

In August 2022, Trimble, Inc. announced a partnership with the manufacturer of agricultural engineering equipment, CLAAS KGaA mbH. The partnership aimed to create a system for precision farming: GPS PILOT steering system, CLAAS CEMIS 1200, and SAT 900 GNSS receiver.

In 2019, the Climate Corporation and CropMetrics, an innovator in precision irrigation software and analytics, partnered to allow improved data communication for farm water management.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Functions

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

3          GLOBAL PRECISION AGRICULTURE  MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2        Adjacent Market Opportunities

3.1.3        Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1        Market Drivers: Impact Analysis

3.2.2        Market Restraints: Impact Analysis

3.2.3        Market Opportunities: Impact Analysis

3.2.4        Market Challenges: Impact Analysis

3.3   Supply Side Analysis

3.3.1        Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2        SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL PRECISION AGRICULTURE MARKET, BY COMPONENT

4.1   Introduction

4.2   Precision Agriculture Market: Component Scope Key Takeaways

4.3   Revenue Growth Analysis, 2022 & 2028

4.4   Hardware

4.4.1        Hardware Market Estimates and Forecast, 2020-2028 (USD Million)

4.5   Software

4.5.1        Software Market Estimates and Forecast, 2020-2028 (USD Million)

4.6   Service

4.6.1        Service Market Estimates and Forecast, 2020-2028 (USD Million)

5          GLOBAL PRECISION AGRICULTURE MARKET, BY APPLICATION

5.1   Introduction

5.2   Precision Agriculture Market: Application Scope Key Takeaways

5.3   Revenue Growth Analysis, 2022 & 2028

5.4   Yield Monitoring

5.4.1        Yield Monitoring Market Estimates and Forecast, 2020-2028 (USD Million)

5.5   Field Mapping

5.5.1        Field Mapping Market Estimates and Forecast, 2020-2028 (USD Million)

5.6   Crop Scouting

5.6.1        Crop Scouting Market Estimates and Forecast, 2020-2028 (USD Million)

5.7   Weather Tracking & Forecasting

5.7.1        Weather Tracking & Forecasting Market Estimates and Forecast, 2020-2028 (USD Million)

5.8   Irrigation Management

5.8.1        Irrigation Management Market Estimates and Forecast, 2020-2028 (USD Million)

5.9   Inventory Management

5.9.1        Inventory Management Market Estimates and Forecast, 2020-2028 (USD Million)

5.10 Farm Labor Management

5.10.1      Farm Labor Management Market Estimates and Forecast, 2020-2028 (USD Million)

5.11 Others

5.11.1      Others Market Estimates and Forecast, 2020-2028 (USD Million)

6          GLOBAL PRECISION AGRICULTURE MARKET, BY TECHNOLOGY

6.1   Introduction

6.2   Precision Agriculture Market: Technology Scope Key Takeaways

6.3   Revenue Growth Analysis, 2022 & 2028

6.4   Guidance Technology

6.4.1        Guidance Technology Market Estimates and Forecast, 2020-2028 (USD Million)

6.5   Remote Sensing Technology

6.5.1        Remote Sensing Technology Market Estimates and Forecast, 2020-2028 (USD Million)

6.6   Variable-rate Technology

6.6.1        Variable-rate Technology Market Estimates and Forecast, 2020-2028 (USD Million)

7          GLOBAL PRECISION AGRICULTURE MARKET, BY REGION

7.1   Introduction

7.2   North America Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.1        By Component

7.2.2        By Application

7.2.3        By Technology

7.2.4        By Country

7.2.4.1     U.S. Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.1.1        By Component

7.2.4.1.2        By Application

7.2.4.1.3        By Technology

7.2.4.2     Canada Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.2.1        By Component

7.2.4.2.2        By Application

7.2.4.2.3        By Technology

7.2.4.3     Mexico Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.3.1        By Component

7.2.4.3.2        By Application

7.2.4.3.3        By Technology

7.3   Europe Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.1        By Component

7.3.2        By Application

7.3.3        By Technology

7.3.4        By Country

7.3.4.1     Germany Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.1.1        By Component

7.3.4.1.2        By Application

7.3.4.1.3        By Technology

7.3.4.2     U.K. Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.2.1        By Component

7.3.4.2.2        By Application

7.3.4.2.3        By Technology

7.3.4.3     France Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.3.1        By Component

7.3.4.3.2        By Application

7.3.4.3.3        By Technology

7.3.4.4     Italy Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.4.1        By Component

7.3.4.4.2        By Application

7.2.4.4.3        By Technology

7.3.4.5     Spain Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.5.1        By Component

7.3.4.5.2        By Application

7.2.4.5.3        By Technology

7.3.4.6     Netherlands Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.6.1        By Component

7.3.4.6.2        By Application

7.2.4.6.3        By Technology

7.3.4.7     Rest of Europe Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.7.1        By Component

7.3.4.7.2        By Application

7.2.4.7.3        By Technology

7.4   Asia Pacific Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.1        By Component

7.4.2        By Application

7.4.3        By Technology

7.4.4        By Country

7.4.4.1     China Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.1.1        By Component

7.4.4.1.2        By Application

7.4.4.1.3        By Technology

7.4.4.2     Japan Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.2.1        By Component

7.4.4.2.2        By Application

7.4.4.2.3        By Technology

7.4.4.3     India Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.3.1        By Component

7.4.4.3.2        By Application

7.4.4.3.3        By Technology

7.4.4.4     South Korea Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.4.1        By Component

7.4.4.4.2        By Application

7.4.4.4.3        By Technology

7.4.4.5     Singapore Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.5.1        By Component

7.4.4.5.2        By Application

7.4.4.5.3        By Technology

7.4.4.6     Malaysia Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.6.1        By Component

7.4.4.6.2        By Application

7.4.4.6.3        By Technology

7.4.4.7     Thailand Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.7.1        By Component

7.4.4.7.2        By Application

7.4.4.7.3        By Technology

7.4.4.8     Indonesia Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.8.1        By Component

7.4.4.8.2        By Application

7.4.4.8.3        By Technology

7.4.4.9     Vietnam Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.9.1        By Component

7.4.4.9.2        By Application

7.4.4.9.3        By Technology

7.4.4.10  Taiwan Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.10.1 By Component

7.4.4.10.2 By Application

7.4.4.10.3 By Technology

7.4.4.11  Rest of Asia Pacific Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.11.1 By Component

7.4.4.11.2 By Application

7.4.4.11.3 By Technology

7.5   Middle East and Africa Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.1        By Component

7.5.2        By Application

7.5.3        By Technology

7.5.4        By Country

7.5.4.1     Saudi Arabia Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.1.1        By Component

7.5.4.1.2        By Application

7.5.4.1.3        By Technology

7.5.4.2     U.A.E. Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.2.1        By Component

7.5.4.2.2        By Application

7.5.4.2.3        By Technology

7.5.4.3     Israel Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.3.1        By Component

7.5.4.3.2        By Application

7.5.4.3.3        By Technology

7.5.4.4     South Africa Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.4.1        By Component

7.5.4.4.2        By Application

7.5.4.4.3        By Technology

7.5.4.5     Rest of Middle East and Africa Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.5.1        By Component

7.5.4.5.2        By Application

7.5.4.5.2        By Technology

7.6   Central & South America Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.1        By Component

7.6.2        By Application

7.6.3        By Technology

7.6.4        By Country

7.6.4.1     Brazil Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.1.1        By Component

7.6.4.1.2        By Application

7.6.4.1.3        By Technology

7.6.4.2     Argentina Eaporative Air Cooler Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.2.1        By Component

7.6.4.2.2        By Application

7.6.4.2.3        By Technology

7.6.4.3     Chile Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.3.1        By Component

7.6.4.3.2        By Application

7.6.4.3.3        By Technology

7.6.4.4     Rest of Central & South America Precision Agriculture Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.4.1        By Component

7.6.4.4.2        By Application

7.6.4.4.3        By Technology

8          COMPETITIVE LANDCAPE

8.1   Company Market Share Analysis

8.2   Four Quadrant Positioning Matrix

8.2.1        Market Leaders

8.2.2        Market Visionaries

8.2.3        Market Challengers

8.2.4        Niche Market Players

8.3   Vendor Landscape

8.3.1        North America

8.3.2        Europe

8.3.3        Asia Pacific

8.3.4        Rest of the World

8.4   Company Profiles  

8.4.1        CropMetrics LLC

8.4.1.1 Business Description & Financial Analysis

8.4.1.2 SWOT Analysis

8.4.1.3 Products & Services Offered

8.4.1.4 Strategic Alliances between Business Partners

8.4.2        MONSANTO COMPANY

8.4.2.1 Business Description & Financial Analysis

8.4.2.2 SWOT Analysis

8.4.2.3 Products & Services Offered

8.4.2.4 Strategic Alliances between Business Partners

8.4.3        AgSmarts Inc

8.4.3.1 Business Description & Financial Analysis

8.4.3.2 SWOT Analysis

8.4.3.3 Products & Services Offered

8.4.3.4 Strategic Alliances between Business Partners

8.4.4        CropX

8.4.4.1 Business Description & Financial Analysis

8.4.4.2 SWOT Analysis

8.4.4.3 Products & Services Offered

8.4.4.4 Strategic Alliances between Business Partners

8.4.5        Deere & Company

8.4.5.1 Business Description & Financial Analysis

8.4.5.2 SWOT Analysis

8.4.5.3 Products & Services Offered

8.4.5.4 Strategic Alliances between Business Partners

8.4.6        DICKEY-JOHN

8.4.6.1 Business Description & Financial Analysis

8.4.6.2 SWOT Analysis

8.4.6.3 Products & Services Offered

8.4.6.4 Strategic Alliances between Business Partners

8.4.7        Trimble Navigation Limited  

8.4.7.1 Business Description & Financial Analysis

8.4.7.2 SWOT Analysis

8.4.7.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.8        Ag Leader Technology

8.4.8.1 Business Description & Financial Analysis

8.4.8.2 SWOT Analysis

8.4.8.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.9        AGCO Corporation

8.4.9.1 Business Description & Financial Analysis

8.4.9.2 SWOT Analysis

8.4.9.3 Products & Services Offered

8.4.9.4 Strategic Alliances between Business Partners

8.4.10       AgSense, LLC

8.4.10.1 Business Description & Financial Analysis

8.4.10.2 SWOT Analysis

8.4.10.3 Products & Services Offered

8.4.10.4 Strategic Alliances between Business Partners

8.4.11      Other Companies

8.4.11.1 Business Description & Financial Analysis

8.4.11.2 SWOT Analysis

8.4.11.3 Products & Services Offered

8.4.11.4 Strategic Alliances between Business Partners

9          RESEARCH METHODOLOGY

9.1   Market Introduction

9.1.1        Market Definition

9.1.2        Market Scope & Segmentation

9.2   Information Procurement

9.2.1        Secondary Research

9.2.1.1 Purchased Databases

9.2.1.2 GMEs Internal Data Repository

9.2.1.3 Secondary Resources & Third Party Perspectives

9.2.1.4 Company Information Sources

9.2.2        Primary Research

9.2.2.1 Various Types of Respondents for Primary Interviews

9.2.2.2 Number of Interviews Conducted throughout the Research Process

9.2.2.3 Primary Stakeholders

9.2.2.4 Discussion Guide for Primary Participants

9.2.3        Expert Panels

9.2.3.1 Expert Panels Across 30+ Industry

9.2.4        Paid Local Experts

9.2.4.1 Paid Local Experts Across 30+ Industry Across each Region

9.3   Market Estimation

9.3.1        Top-Down Approach

9.3.1.1 Macro-Economic Indicators Considered

9.3.1.2 Micro-Economic Indicators Considered

9.3.2        Bottom Up Approach

9.3.2.1 Company Share Analysis Approach

9.3.2.2 Estimation of Potential Product Sales

9.4   Data Triangulation

9.4.1        Data Collection

9.4.2        Time Series, Cross Sectional & Panel Data Analysis

9.4.3        Cluster Analysis

9.5   Analysis and Output

9.5.1        Inhouse AI Based Real Time Analytics Tool

9.5.2        Output From Desk & Primary Research

9.6   Research Assumptions & Limitations

9.7.1        Research Assumptions

9.7.2        Research Limitations

LIST OF TABLES

1 Global Precision Agriculture Market, By Component, 2020-2028 (USD Million)

2 Hardware Market, By Region, 2020-2028 (USD Million)       

3 Software Market, By Region, 2020-2028 (USD Million)        

4 Service Market, By Region, 2020-2028 (USD Million)             

5 Global Precision Agriculture Market, By Application, 2020-2028 (USD Million)

6 Yield Monitoring Market, By Region, 2020-2028 (USD Million)       

7 Field Mapping Market, By Region, 2020-2028 (USD Million)

8 Crop Scouting Market, By Region, 2020-2028 (USD Million)

9 Weather Tracking & Forecasting Market, By Region, 2020-2028 (USD Million)

10 Irrigation Management Market, By Region, 2020-2028 (USD Million)

11 Inventory Management Market, By Region, 2020-2028 (USD Million)

12 Farm Labor Management Market, By Region, 2020-2028 (USD Million)

13 Others Market, By Region, 2020-2028 (USD Million)

14 Global Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

15 Guidance Technology Market, By Region, 2020-2028 (USD Million)             

16 Remote Sensing Technology Market, By Region, 2020-2028 (USD Million)              

17 Variable-rate Technology Market, By Region, 2020-2028 (USD Million)   

18 Regional Analysis, 2020-2028 (USD Million)              

19 North America Precision Agriculture Market, By Component, 2020-2028 (USD Million)

20 North America Precision Agriculture Market, By Application, 2020-2028 (USD Million)

21 North America Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

22 North America Precision Agriculture Market, By Country, 2020-2028 (USD Million)

23 U.S Precision Agriculture Market, By Component, 2020-2028 (USD Million)

24 U.S Precision Agriculture Market, By Application, 2020-2028 (USD Million)

25 U.S Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

26 Canada Precision Agriculture Market, By Component, 2020-2028 (USD Million)

27 Canada Precision Agriculture Market, By Application, 2020-2028 (USD Million)

28 Canada Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

29 Mexico Precision Agriculture Market, By Component, 2020-2028 (USD Million)

30 Mexico Precision Agriculture Market, By Application, 2020-2028 (USD Million)

31 Mexico Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

32 Europe Precision Agriculture Market, By Component, 2020-2028 (USD Million)

33 Europe Precision Agriculture Market, By Application, 2020-2028 (USD Million)

34 Europe Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

35 Germany Precision Agriculture Market, By Component, 2020-2028 (USD Million)

36 Germany Precision Agriculture Market, By Application, 2020-2028 (USD Million)

37 Germany Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

38 UK Precision Agriculture Market, By Component, 2020-2028 (USD Million)

39 UK Precision Agriculture Market, By Application, 2020-2028 (USD Million)

40 UK Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

41 France Precision Agriculture Market, By Component, 2020-2028 (USD Million)

42 France Precision Agriculture Market, By Application, 2020-2028 (USD Million)

43 France Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

44 Italy Precision Agriculture Market, By Component, 2020-2028 (USD Million)

45 Italy Precision Agriculture Market, By T Application Type, 2020-2028 (USD Million)

46 Italy Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

47 Spain Precision Agriculture Market, By Component, 2020-2028 (USD Million)

48 Spain Precision Agriculture Market, By Application, 2020-2028 (USD Million)

49 Spain Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

50 Nerherlands Precision Agriculture Market, By Component, 2020-2028 (USD Million)

51 Nerherlands Precision Agriculture Market, By Application, 2020-2028 (USD Million)

52 NETHERLANDS Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

53 Rest Of Europe Precision Agriculture Market, By Component, 2020-2028 (USD Million)

54 Rest Of Europe Precision Agriculture Market, By Application, 2020-2028 (USD Million)

55 Rest of Europe Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

56 Asia Pacific Precision Agriculture Market, By Component, 2020-2028 (USD Million)

57 Asia Pacific Precision Agriculture Market, By Application, 2020-2028 (USD Million)

58 Asia Pacific Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

59 Asia Pacific Precision Agriculture Market, By Country, 2020-2028 (USD Million)

60 China Precision Agriculture Market, By Component, 2020-2028 (USD Million)

61 China Precision Agriculture Market, By Application, 2020-2028 (USD Million)

62 China Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

63 India Precision Agriculture Market, By Component, 2020-2028 (USD Million)

64 India Precision Agriculture Market, By Application, 2020-2028 (USD Million)

65 India Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

66 Japan Precision Agriculture Market, By Component, 2020-2028 (USD Million)

67 Japan Precision Agriculture Market, By Application, 2020-2028 (USD Million)

68 Japan Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

69 South Korea Precision Agriculture Market, By Component, 2020-2028 (USD Million)

70 South Korea Precision Agriculture Market, By Application, 2020-2028 (USD Million)

71 South Korea Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

72 SINGAPORE Precision Agriculture Market, By Component, 2020-2028 (USD Million)

73 SINGAPORE Precision Agriculture Market, By Application, 2020-2028 (USD Million)

74 SINGAPORE Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

75 THAILAND PRECISION AGRICULTURE MARKET, BY COMPONENT, 2020-2028 (USD MILLION)

76 THAILAND PRECISION AGRICULTURE MARKET, BY APPLICATION, 2020-2028 (USD MILLION)

77 THAILAND PRECISION AGRICULTURE MARKET, BY TECHNOLOGY, 2020-2028 (USD MILLION)

78 MALAYSIA PRECISION AGRICULTURE MARKET, BY COMPONENT, 2020-2028 (USD MILLION)

79 MALAYSIA PRECISION AGRICULTURE MARKET, BY APPLICATION, 2020-2028 (USD MILLION)

80 MALAYSIA PRECISION AGRICULTURE MARKET, BY TECHNOLOGY, 2020-2028 (USD MILLION)

81 INDONESIA Precision Agriculture Market, By Component, 2020-2028 (USD Million)

82 INDONESIA Precision Agriculture Market, By Application, 2020-2028 (USD Million)

83 INDONESIA Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

84 VIETNAM Precision Agriculture Market, By Component, 2020-2028 (USD Million)

85 VIETNAM Precision Agriculture Market, By Application, 2020-2028 (USD Million)

86 VIETNAM Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

87 TAIWAN Precision Agriculture Market, By Component, 2020-2028 (USD Million)

88 TAIWAN Precision Agriculture Market, By Application, 2020-2028 (USD Million)

89 TAIWAN Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

90 REST OF APAC Precision Agriculture Market, By Component, 2020-2028 (USD Million)

91 REST OF APAC Precision Agriculture Market, By Application, 2020-2028 (USD Million)

92 REST OF APAC Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

93 Middle East and Africa Precision Agriculture Market, By Component, 2020-2028 (USD Million)

94 Middle East and Africa Precision Agriculture Market, By Application, 2020-2028 (USD Million)

95 Middle East and Africa Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

96 Middle East and Africa Precision Agriculture Market, By Country, 2020-2028 (USD Million)

97 Saudi Arabia Precision Agriculture Market, By Component, 2020-2028 (USD Million)

98 Saudi Arabia Precision Agriculture Market, By Application, 2020-2028 (USD Million)

99 Saudi Arabia Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

100 UAE Precision Agriculture Market, By Component, 2020-2028 (USD Million)

101 UAE Precision Agriculture Market, By Application, 2020-2028 (USD Million)

102 UAE Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

103 ISRAEL Precision Agriculture Market, By Component, 2020-2028 (USD Million)

104 ISRAEL Precision Agriculture Market, By Application, 2020-2028 (USD Million)

105 ISRAEL Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

106 SOUTH AFRICA Precision Agriculture Market, By Component, 2020-2028 (USD Million)

107 SOUTH AFRICA Precision Agriculture Market, By Application, 2020-2028 (USD Million)

108 SOUTH AFRICA Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

109 REST OF MIDDLE EAST AND AFRICA Precision Agriculture Market, By Component, 2020-2028 (USD Million)

110 REST OF MIDDLE EAST AND AFRICA Precision Agriculture Market, By Application, 2020-2028 (USD Million)

111 REST OF MIDDLE EAST AND AFRICA Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

112 Central & South America Precision Agriculture Market, By Component, 2020-2028 (USD Million)

113 Central & South America Precision Agriculture Market, By Application, 2020-2028 (USD Million)

114 Central & South America Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

115 Central & South America Precision Agriculture Market, By Country, 2020-2028 (USD Million)

116 Brazil Precision Agriculture Market, By Component, 2020-2028 (USD Million)

117 Brazil Precision Agriculture Market, By Application, 2020-2028 (USD Million)

118 Brazil Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

119 CHILE Precision Agriculture Market, By Component, 2020-2028 (USD Million)

120 CHILE Precision Agriculture Market, By Application, 2020-2028 (USD Million)

121 CHILE Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

122 ARGENTINA Precision Agriculture Market, By Component, 2020-2028 (USD Million)

123 ARGENTINA Precision Agriculture Market, By Application, 2020-2028 (USD Million)

124 ARGENTINA Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

125 REST OF CENTRAL AND SOUTH AMERICA Precision Agriculture Market, By Component, 2020-2028 (USD Million)

126 REST OF CENTRAL AND SOUTH AMERICA Precision Agriculture Market, By Application, 2020-2028 (USD Million)

127 REST OF CENTRAL AND SOUTH AMERICA Precision Agriculture Market, By Technology, 2020-2028 (USD Million)

128 CropMetrics LLC: Products & Services Offering

129 MONSANTO COMPANY: Products & Services Offering            

130 AgSmarts Inc: Products & Services Offering          

131 CropX: Products & Services Offering           

132 Deere & Company: Products & Services Offering  

133 DICKEY-JOHN: Products & Services Offering              

134 Trimble Navigation Limited : Products & Services Offering            

135 Ag Leader Technology: Products & Services Offering       

136 AGCO Corporation, Inc: Products & Services Offering      

137  AgSense, LLC: Products & Services Offering           

138 Other Companies: Products & Services Offering  

LIST OF FIGURES

1 Global Precision Agriculture Market Overview

2 Global Precision Agriculture Market Value From 2020-2028 (USD Million)

3 Global Precision Agriculture Market Share, By Component (2022)

4 Global Precision Agriculture Market Share, By Application (2022)

5 Global Precision Agriculture Market Share, By Technology (2022)

6 Global Precision Agriculture Market, By Region (Asia Pacific Market)

7 Technological Trends In Global Precision Agriculture Market

8 Four Quadrant Competitor Positioning Matrix

9 Impact Of Macro & Micro Indicators On The Market

10 Impact Of Key Drivers On The Global Precision Agriculture Market

11 Impact Of Challenges On The Global Precision Agriculture Market

12 Porter’s Five Forces Analysis

13 Global Precision Agriculture Market: By Component Scope Key Takeaways

14 Global Precision Agriculture Market, By Component Segment: Revenue Growth Analysis

15 Hardware Market, By Region, 2020-2028 (USD Million)         

16 Software Market, By Region, 2020-2028 (USD Million)

17 Service Market, By Region, 2020-2028 (USD Million)

18 Global Precision Agriculture Market: By Application Scope Key Takeaways

19 Global Precision Agriculture Market, By Application Segment: Revenue Growth Analysis

20 Yield Monitoring Market, By Region, 2020-2028 (USD Million)          

21 Field Mapping Market, By Region, 2020-2028 (USD Million)

22 Crop Scouting Market, By Region, 2020-2028 (USD Million)

23 Weather Tracking & Forecasting Market, By Region, 2020-2028 (USD Million)

24 Irrigation Management Market, By Region, 2020-2028 (USD Million)

25 Inventory Management Market, By Region, 2020-2028 (USD Million)

26 Farm Labor Management Market, By Region, 2020-2028 (USD Million)

27 Others Market, By Region, 2020-2028 (USD Million)

28 Global Precision Agriculture Market: By Technology Scope Key Takeaways

29 Global Precision Agriculture Market, By Technology Segment: Revenue Growth Analysis

30 Guidance Technology Market, By Region, 2020-2028 (USD Million)

31 Remote Sensing Technology Market, By Region, 2020-2028 (USD Million)

32 Variable-rate Technology Market, By Region, 2020-2028 (USD Million)

33 Regional Segment: Revenue Growth Analysis

34 Global Precision Agriculture Market: Regional Analysis

35 North America Precision Agriculture Market Overview

36 North America Precision Agriculture Market, By Component

37 North America Precision Agriculture Market, By Application

38 North America Precision Agriculture Market, By Technology

39 North America Precision Agriculture Market, By Country

40 U.S. Precision Agriculture Market, By Component

41 U.S. Precision Agriculture Market, By Application

42 U.S. Precision Agriculture Market, By Technology

43 Canada Precision Agriculture Market, By Component

44 Canada Precision Agriculture Market, By Application

45 Canada Precision Agriculture Market, By Technology

46 Mexico Precision Agriculture Market, By Component

47 Mexico Precision Agriculture Market, By Application

48 Mexico Precision Agriculture Market, By Technology

49 Four Quadrant Positioning Matrix

50 Company Market Share Analysis

51 CropMetrics LLC: Company Snapshot

52 CropMetrics LLC: SWOT Analysis

53 CropMetrics LLC: Geographic Presence

54 MONSANTO COMPANY: Company Snapshot

55 MONSANTO COMPANY: SWOT Analysis

56 MONSANTO COMPANY: Geographic Presence

57 AgSmarts Inc: Company Snapshot

58 AgSmarts Inc: SWOT Analysis

59 AgSmarts Inc: Geographic Presence

60 CropX: Company Snapshot

61 CropX: Swot Analysis

62 CropX: Geographic Presence

63 Deere & Company: Company Snapshot

64 Deere & Company: SWOT Analysis

65 Deere & Company: Geographic Presence

66 DICKEY-JOHN: Company Snapshot

67 DICKEY-JOHN: SWOT Analysis

68 DICKEY-JOHN: Geographic Presence

69 Trimble Navigation Limited : Company Snapshot

70 Trimble Navigation Limited : SWOT Analysis

71 Trimble Navigation Limited : Geographic Presence

72 Ag Leader Technology: Company Snapshot

73 Ag Leader Technology: SWOT Analysis

74 Ag Leader Technology: Geographic Presence

75 AGCO Corporation, Inc.: Company Snapshot

76 AGCO Corporation, Inc.: SWOT Analysis

77 AGCO Corporation, Inc.: Geographic Presence

78  AgSense, LLC: Company Snapshot

79  AgSense, LLC: SWOT Analysis

80  AgSense, LLC: Geographic Presence

81 Other Companies: Company Snapshot

82 Other Companies: SWOT Analysis

83 Other Companies: Geographic Presence

The Global Precision Agriculture Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Precision Agriculture Market Size

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Precision Agriculture Market.

Precision Agriculture Market Growth

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Precision Agriculture Market Trends

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

Precision Agriculture Market Share

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Frequently Asked Questions

The global precision agriculture market is estimated to exhibit a CAGR of 13.8% from 2023 to 2028.
CropMetrics LLC, Monsanto Company, AgSmarts Inc, CropX, Deere & Company, DICKEY-john, Trimble Navigation Limited, Ag Leader Technology, AGCO Corporation, and AgSense, LLC among others, are some of the key players in the global precision agriculture market.
As data analytics in precision agriculture becomes more widespread, the need for effective data management and analytics tools is growing. Market players have an opportunity to offer strong data analytics solutions that allow farmers to make informed decisions based on data. Moreover, Automation and robots are becoming increasingly prevalent in agriculture. There is much opportunity for growth for companies developing robotic systems for planting, harvesting, and weeding as well as autonomous tractors and drones.
The primary factors propelling the market growth are the increasing government initiatives that support the adoption of modern agriculture technologies and the increasing demand for proper crop monitoring. Additionally, advancements in technologies such as soil monitoring systems, guidance systems, and GPS agriculture solutions, and the growing use of cloud-based technology are expected to support the market growth throughout the forecast period.

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