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Global Precision Farming Market Size study & Forecast, by Offering (Hardware, Software, Services), by Technology (Guidance Technology, Remote Sensing Technology, Variable Rate Technology), by Application (Yield Monitoring, Crop Scouting, Field Mapping, Variable Rate Application, Weather Tracking and Forecasting, Others) and Regional Analysis, 2023-2030

February 2024 | 200 pages | ID: G635D50CC203EN
Bizwit Research & Consulting LLP

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Global Precision Farming Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. Precision farming is an approach to farm management that uses information technology, satellite imagery, and other advanced tools to optimize various aspects of agricultural practices. The goal of precision farming is to enhance the efficiency, productivity, and sustainability of agricultural production while minimizing waste and environmental impact. It involves collecting and analyzing data to make informed decisions on crop management, resource allocation, and overall farm operations. The key factors driving the market growth are the rising adoption of IoT devices in agricultural applications, integration of precision farming technologies into existing farm machinery, and rapid adoption of advanced technologies in precision farming to reduce costs that are anticipated to create a lucrative demand for the market during the forecast period 2023-2030.

Additionally, supportive government initiatives such as policies, subsidies, and incentives for adopting precision farming practices are driving market growth. For instance, in May 2022, The Canadian government pledged a financial investment of USD 441,917.5 towards the development of an integrated system designed for precision fruit tree farming. This funding initiative not only aims to support the creation of such a system still also seeks sustainable solutions to address the emerging challenges faced by Canada's apple industry. Moreover, the growing adoption of data analytics in the agriculture sector, and the rising use of AI-based solutions in precision farming are anticipated to create lucrative opportunities for the market over the projected year. However, the high costs of precision farming equipment and small size of landholdings and the limited availability of skilled workforce stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Precision Farming Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to government support and initiatives, the trend toward larger farm sizes, growing awareness and concern about environmental sustainability, the availability of advanced infrastructure, and ongoing advancements in technologies such as GPS, sensors, drones, and data analytics have significantly enhanced the capabilities of precision farming systems. Whereas, the Asia Pacific is expected to grow with the fastest growth rate over the forecast period, owing to factors such as the growing awareness among farmers about the benefits of precision farming, increasing internet penetration, and supportive cohesive government initiatives.

Major market player included in this report are:

Deere & Company

Trimble Inc.

AGCO Corporation

AgJunction LLC

Raven Industries, Inc.

AG Leader Technology

Teejet Technologies

AgEagle Aerial Systems Inc

Descartes Labs, Inc.

Hexagon AB

Recent Developments in the Market:
  • In July 2023, Deere & Company successfully acquired Smart Apply, Inc. (US), a leading precision spraying equipment company. This strategic acquisition is designed to enhance the focus on high-value crop customers and dealers, while simultaneously expanding the array of solutions offered to support growers in addressing key challenges related to labor, input costs, and regulatory compliance.
Global Precision Farming Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Offering, Technology, Application, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:

Hardware

Software

Services

By Technology:

Guidance Technology

Remote Sensing Technology

Variable Rate Technology

By Application:

Yield Monitoring

Crop Scouting

Field Mapping

Variable Rate Application

Weather Tracking and Forecasting

Inventory Management

Farm Labor Management

Financial Management

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Precision Farming Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Precision Farming Market, by Offering, 2020-2030 (USD Billion)
  1.2.3. Precision Farming Market, by Technology, 2020-2030 (USD Billion)
  1.2.4. Precision Farming Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL PRECISION FARMING MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL PRECISION FARMING MARKET DYNAMICS

3.1. Precision Farming Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Rising adoption of IoT devices in agricultural applications
    3.1.1.2. Integration of precision farming technologies into existing farm machinery
    3.1.1.3. Rapid adoption of advanced technologies in precision farming to reduce cost
  3.1.2. Market Challenges
    3.1.2.1. Growing Adoption of data analytics in agriculture sector
    3.1.2.2. Rising use of AI-based solutions in precision farming
  3.1.3. Market Opportunities
    3.1.3.1. High costs of precision farming equipment
    3.1.3.2. Small size of landholdings and limited availability of skilled workforce

CHAPTER 4. GLOBAL PRECISION FARMING MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL PRECISION FARMING MARKET, BY OFFERING

5.1. Market Snapshot
5.2. Global Precision Farming Market by Offering, Performance - Potential Analysis
5.3. Global Precision Farming Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. Precision Farming Market, Sub Segment Analysis
  5.4.1. Hardware
  5.4.2. Software
  5.4.3. Services

CHAPTER 6. GLOBAL PRECISION FARMING MARKET, BY TECHNOLOGY

6.1. Market Snapshot
6.2. Global Precision Farming Market by Technology, Performance - Potential Analysis
6.3. Global Precision Farming Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
6.4. Precision Farming Market, Sub Segment Analysis
  6.4.1. Guidance Technology
  6.4.2. Remote Sensing Technology
  6.4.3. Variable Rate Technology

CHAPTER 7. GLOBAL PRECISION FARMING MARKET, BY APPLICATION

7.1. Market Snapshot
7.2. Global Precision Farming Market by Application, Performance - Potential Analysis
7.3. Global Precision Farming Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Precision Farming Market, Sub Segment Analysis
  7.4.1. Yield Monitoring
  7.4.2. Crop Scouting
  7.4.3. Field Mapping
  7.4.4. Variable Rate Application
  7.4.5. Weather Tracking and Forecasting
  7.4.6. Inventory Management
  7.4.7. Farm Labor Management
  7.4.8. Financial Management
  7.4.9. Others

CHAPTER 8. GLOBAL PRECISION FARMING MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Precision Farming Market, Regional Market Snapshot
8.4. North America Precision Farming Market
  8.4.1. U.S. Precision Farming Market
    8.4.1.1. Offering breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
    8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Precision Farming Market
8.5. Europe Precision Farming Market Snapshot
  8.5.1. U.K. Precision Farming Market
  8.5.2. Germany Precision Farming Market
  8.5.3. France Precision Farming Market
  8.5.4. Spain Precision Farming Market
  8.5.5. Italy Precision Farming Market
  8.5.6. Rest of Europe Precision Farming Market
8.6. Asia-Pacific Precision Farming Market Snapshot
  8.6.1. China Precision Farming Market
  8.6.2. India Precision Farming Market
  8.6.3. Japan Precision Farming Market
  8.6.4. Australia Precision Farming Market
  8.6.5. South Korea Precision Farming Market
  8.6.6. Rest of Asia Pacific Precision Farming Market
8.7. Latin America Precision Farming Market Snapshot
  8.7.1. Brazil Precision Farming Market
  8.7.2. Mexico Precision Farming Market
8.8. Middle East & Africa Precision Farming Market
  8.8.1. Saudi Arabia Precision Farming Market
  8.8.2. South Africa Precision Farming Market
  8.8.3. Rest of Middle East & Africa Precision Farming Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Deere & Company
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. Trimble Inc.
  9.3.3. AGCO Corporation
  9.3.4. AgJunction LLC
  9.3.5. Raven Industries, Inc.
  9.3.6. AG Leader Technology
  9.3.7. Teejet Technologies
  9.3.8. AgEagle Aerial Systems Inc
  9.3.9. Descartes Labs, Inc.
  9.3.10. Hexagon AB

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Precision Farming Market, report scope
TABLE 2. Global Precision Farming Market estimates & forecasts by region 2020-2030 (USD Billion)
TABLE 3. Global Precision Farming Market estimates & forecasts by Offering 2020-2030 (USD Billion)
TABLE 4. Global Precision Farming Market estimates & forecasts by Technology 2020-2030 (USD Billion)
TABLE 5. Global Precision Farming Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 6. Global Precision Farming Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Precision Farming Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Precision Farming Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Precision Farming Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Precision Farming Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Precision Farming Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Precision Farming Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Precision Farming Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Precision Farming Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Precision Farming Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Precision Farming Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Precision Farming Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Precision Farming Market
TABLE 71. List of primary sources, used in the study of global Precision Farming Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Precision Farming Market, research methodology
FIG 2. Global Precision Farming Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Precision Farming Market, key trends 2022
FIG 5. Global Precision Farming Market, growth prospects 2023-2030
FIG 6. Global Precision Farming Market, porters 5 force model
FIG 7. Global Precision Farming Market, pest analysis
FIG 8. Global Precision Farming Market, value chain analysis
FIG 9. Global Precision Farming Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Precision Farming Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Precision Farming Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Precision Farming Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Precision Farming Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Precision Farming Market, regional snapshot 2020 & 2030
FIG 15. North America Precision Farming Market 2020 & 2030 (USD Billion)
FIG 16. Europe Precision Farming Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Precision Farming Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Precision Farming Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Precision Farming Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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