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Precision Farming Market

Precision Farming Market

Precision Farming Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

134

Base Year:

2021

Date

Mar - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1356

Segments Covered
  • By Delivery model Local/Web Based, Cloud Based
  • By Application Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Inventory Management, Farm Labor Management, Financial Management, Others
  • By Service Provider System Integrators, Managed Services Providers, Assisted Professional Services Providers, Connectivity Services Providers, Maintenance, Software Upgradation, and Support Services Providers
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 7,783.10 USD Million
Revenue 2028Revenue 2028: 15,444.94 USD Million
Revenue CAGRRevenue CAGR (2022 - 2028): 12.10%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Precision Farming  Market Share

Precision Farming Market- By delivery model, application, and service provider

Market Synopsys

Global Precision Farming market is valued at 7,783.10 USD Million in 2021 and is projected to reach a value of 15,444.94 USD Million by 2028 at a CAGR of 12.10% over the forecast period. The increasing food demand globally, crop yield and extended profitability, and crop health monitoring are the major factors driving the growth of the Precision Farming market during the forecast period. Likewise, the initiatives provided by the government in many countries are helping farmers to use technical and optimized agricultural tools in order to improve their production level. Growth in farm automation in developing countries and increasing strain on the global food supply due to the increase in population are the important factors that drive the growth of the Precision Farming market in the upcoming years. Growth in the investments in technology such as GPS sensing systems, guidance systems, driverless tractors, and encouragement of the government for using Precision Farming techniques are fueling the growth of the Precision Farming market during the forecast period. Moreover, Precision Farming has the ability to modify the agricultural sector by making traditional farming active, predictable, and more efficient which is increasing the demand for the Precision Farming market in the years to come. The changing weather due to global warming has raised the adoption level of advanced farming technology for increasing productivity which is expected to enhance the growth of the Precision Farming market in the upcoming years.

Precision Farming Market Size, 2021 To 2028 (USD 15,444.94 Million)

Market Segmentation:

The Precision Farming market is segmented on the basis of delivery model, application, and service provider. On the basis of the delivery model, the market is segmented as Local/Web-based and Cloud-based. By application, the market is segmented as Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Inventory Management, Farm Labor Management, Financial Management, and others. On the basis of service provider, the market is segmented as System Integrators, Assisted Professional Services Providers, Managed Services Providers, Connectivity Services Providers, Maintenance, software, upgradation, and Support Services, Providers

Below tree is interactive. You can click the nodes to get more information.

The cloud-based delivery model is expected to grow at the highest rate during the forecast period

The precision market for the cloud-based delivery model is projected to acquire the largest market share during the forecast period. The cloud-based model provides large data storage along with reduced energy consumption which is driving the growth of the cloud-based sector in the Precision Farming market. Moreover, cloud-based Precision Farming facilitates cost-saving technology with efficient performance in the agricultural sector which is the important factor fueling the growth of the cloud-based segment in the precision market in upcoming years.

The weather tracking and forecasting segment grows at the highest CAGR during the forecast period

Increasing demand for climate information services as the farmers can deal with climate change and variability to enhance decision making ability in agriculture which is the major factor driving the growth of the Precision Farming market for weather tracking and forecasting sector during the forecast period. Better food production with the reduction in wastage is the other major factor for the growth of the adoption of Precision Farming in the years to come.

North America region to acquire the largest market share in the Precision Farming market during the forecast period

The early adoption of Precision Farming in the countries such as the United States and Canada in the Americas is the main reason for the growth of the North American region in the Precision Farming industry during the forecast period. Growth in the implementation of advanced technology in the various agricultural fields reduces the labor cost which is fueling the growth of the Precision Farming market in the upcoming years. Farmers in the North American region are increasingly using sophisticated agricultural equipment and systems such as displays, cameras, and applications for farm management which contributes to the growth of the Precision Farming market during the forecast period.

The Asia Pacific region is projected to experience substantial development in the Precision Farming market during the forecast period. In developing countries like China, Indonesia, and India various government programs were arranged in order to promote the use of state-of-the-art Precision Farming technology to improve productivity in the upcoming years. Moreover, an appropriate administrative structure often authorizes farmers to learn about the exact use and maintenance of Precision Farming machines which is fueling the growth of the region during the forecast period.

Competitive Landscape

The key players in the Precision Farming market are establishing advanced sensor-based equipment, which can provide accessible metrics about the health of crops/farms. Various strategies of key players in the Precision Farming market are increasing the demand for Precision Farming in various regions and countries in the upcoming years. Some of the prime key players in the Precision Farming market are Deere & Company (U.S.), Trimble, Inc. (U.S.), Raven Industries Inc. (U.S.), AgJunction, Inc. (U.S.), and AGCO Corporation (U.S.) among others. Some of the prime start-ups in the market which were established after 2010 are Farmeron, Inc. (U.S.), Microdrones GmbH (Germany), OnFarm Systems (U.S.), and PrecisionHawk (U.S.), Airinov (France).

Precision Farming Market is segmented as follows:

Parameter Details
Segments Covered
  • Delivery model (Local/Web Based, Cloud Based)
  • Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Inventory Management, Farm Labor Management, Financial Management, Others)
  • Service Provider (System Integrators, Managed Services Providers, Assisted Professional Services Providers, Connectivity Services Providers, Maintenance, Software Upgradation, and Support Services Providers)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Deere & Company (U.S.)
  • Trimble Inc. (U.S.)
  • Raven Industries Inc. (U.S.)
  • AgJunction Inc. (U.S.)
  • AGCO Corporation (U.S.)
  • Farmeron Inc. (U.S.)
  • Airinov (France)
  • Microdrones GmbH (Germany)
  • OnFarm Systems (U.S.)
  • and PrecisionHawk (U.S.).
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Precision Farming Market is tabulated as follows:

Precision Farming Market to Reach 15,444.94 USD Million by 2028
The Global Precision Farming Market is expected to reach 15,444.94 USD Million by 2028, growing at a CAGR of 12.10% from 2022 to 2028. The increasing government’s support to adopt modern agricultural techniques and increasing use of agricultural software for maintaining farm efficiency is anti...
FAQ
Frequently Asked Question
  • The global Precision Farming valued at 7,783.10 USD Million in 2020 and is expected to reach 15,444.94 USD Million in 2028 growing at a CAGR of 12.10%.

  • The prominent players in the market are Deere & Company (U.S.), Trimble, Inc. (U.S.), Raven Industries Inc. (U.S.), AgJunction, Inc. (U.S.), AGCO Corporation (U.S.), Farmeron, Inc. (U.S.), Airinov (France), Microdrones GmbH (Germany), OnFarm Systems (U.S.), and PrecisionHawk (U.S.)..

  • The market is project to grow at a CAGR of 12.10% between 2021 and 2028.

  • The driving factors of the Precision Farming include

    • increasing food demand, crop yield & extended profitability, and crop health monitoring

  • North America was the leading regional segment of the Precision Farming in 2020.