The precision farming market was valued at US$ 9.87 billion in 2022 and is expected to reach US$ 26.44 billion by 2030; it is estimated to register a CAGR of 13.1% from 2022 to 2030.
Precision farming provides better sustainability and less environmental impact, which is one of the major factors boosting the market growth. Farmers can more carefully regulate their inputs and nutrients with precision farming by making more accurate selections. As a result, there is less nutrient runoff and fertilizer waste. Farmers can apply chemicals only where necessary rather than throughout the entire field by employing remote sensing to pinpoint the precise areas of high disease and pest pressure. This allows them to use less herbicides and fungicides. Also, farm managers may pinpoint and minimize fuel consumption by keeping an eye on drivers and equipment, leading to lower emissions. Moreover, by improving crop quality, precision agriculture technologies such as AI and machine learning can help decrease on-farm field waste, thus providing a sustainable food supply. In addition, agribusinesses can establish traceability and accountability by gathering and linking data to crop production, beginning at the seed production stage and continuing the crop until it reaches a consumer's table. This will provide additional insights that can be managed for even more efficient production, thus fueling the market growth during the forecast period.
Furthermore, the increasing investment in technologies such as guidance systems, driverless tractors, and GPS sensing systems is anticipated to contribute to the precision farming market growth during the study period. For instance, in April 2022, Agtech company EarthScout announced an exclusive addition to its scalable line of advanced agriculture products that assist farmers during a drought in saving water and lessening irrigation and inputs by providing real-time information about soil moisture. The innovative EarthScout Soil Cub is a miniature 4.5"x3"x2" commercial-grade sensor mounted in the field to monitor soil temperature and humidity.
The market in Asia Pacific is predicted to observe substantial growth over the forecast period, mainly owing to government initiatives in emerging countries to encourage the application of advanced precision farming technologies, thereby increasing productivity. For instance, in 2022, the Government of India announced the launch of Kisan Drones to digitize land records, crop assessment, and spray nutrients and insecticides in December 2022. IG International, an India-based fresh produce company, partnered with an AI, IoT-driven, SaaS-based precision agriculture solution provider called Fyllo to help companies use advanced technologies to produce high-quality fruits. Such initiatives are expected to boost the market growth in Asia Pacific during the forecast period.
AgJunction LLC, Ag Leader Technology, CropX Inc., AGCO Corporation, Trimble Inc., Deere and Company, CNH Industrial N.V., Topcon, DICKEY-john, and TeeJet Technologies are among the key precision farming market players profiled in this market study. Several other essential precision farming market players were analyzed for a holistic view of the market and its ecosystem.
The overall precision farming market size has been derived using both primary and secondary sources. To begin the precision farming market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the precision farming market. The process also serves the purpose of obtaining an overview and market forecast of the precision farming market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the precision farming market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Precision Farming Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
 4.3.1 List of Vendors in the Value Chain
5. Precision Farming Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Precision Farming Market - Global Market Analysis
6.1 Precision Farming - Global Market Overview
6.2 Precision Farming - Global Market and Forecast to 2030
7. Precision Farming Market - Revenue Analysis (USD Million) - By Offering, 2020-2030
7.1 Overview
7.2 Hardware
 7.2.1 Guidance and Steering Systems
 7.2.2 GPS/GNSS Devices
 7.2.3 Sensors
 7.2.4 Drones/UAVs
 7.2.5 Irrigation Controllers
 7.2.6 Handheld Mobile Devices
 7.2.7 Others
7.3 Software
 7.3.1 On-Cloud
 7.3.2 On-Premise
7.4 Services
 7.4.1 System Integration
 7.4.2 Data Analytics
 7.4.3 Managed Services
 7.4.4 Maintenance and Support
8. Precision Farming Market - Revenue Analysis (USD Million) - By Application, 2020-2030
8.1 Overview
8.2 Yield Monitoring
8.3 Field Mapping
8.4 Crop Scouting
8.5 Inventory Management
8.6 Weather Tracking and Forecasting
8.7 Others
9. Precision Farming Market - Revenue Analysis (USD Million), 2020-2030 - Geographical Analysis
9.1 North America
 9.1.1 North America Precision Farming Market Overview
 9.1.2 North America Precision Farming Market Revenue and Forecasts to 2030
 9.1.3 North America Precision Farming Market Revenue and Forecasts and Analysis - By Offering
 9.1.4 North America Precision Farming Market Revenue and Forecasts and Analysis - By Application
 9.1.5 North America Precision Farming Market Revenue and Forecasts and Analysis - By Countries
 9.1.5.1 United States Precision Farming Market
 9.1.5.1.1 United States Precision Farming Market, by Offering
 9.1.5.1.2 United States Precision Farming Market, by Application
 9.1.5.2 Canada Precision Farming Market
 9.1.5.2.1 Canada Precision Farming Market, by Offering
 9.1.5.2.2 Canada Precision Farming Market, by Application
 9.1.5.3 Mexico Precision Farming Market
 9.1.5.3.1 Mexico Precision Farming Market, by Offering
 9.1.5.3.2 Mexico Precision Farming Market, by Application
 Note - Similar analysis would be provided for below mentioned regions/countries
 
9.2 Europe
 9.2.1 Germany
 9.2.2 France
 9.2.3 Italy
 9.2.4 United Kingdom
 9.2.5 Russia
 9.2.6 Rest of Europe
9.3 Asia-Pacific
 9.3.1 Australia
 9.3.2 China
 9.3.3 India
 9.3.4 Japan
 9.3.5 South Korea
 9.3.6 Rest of Asia-Pacific
9.4 Middle East and Africa
 9.4.1 South Africa
 9.4.2 Saudi Arabia
 9.4.3 U.A.E
 9.4.4 Rest of Middle East and Africa
9.5 South and Central America
 9.5.1 Brazil
 9.5.2 Argentina
 9.5.3 Rest of South and Central America
10. Pre and Post Covid-19 Impact
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Precision Farming Market - Key Company Profiles
13.1 AgJunction Inc.
 13.1.1 Key Facts
 13.1.2 Business Description
 13.1.3 Products and Services
 13.1.4 Financial Overview
 13.1.5 SWOT Analysis
 13.1.6 Key Developments
 Note - Similar information would be provided for below list of companies
 
13.2 Ag Leader Technology
13.3 CropX Inc.
13.4 AGCO Corporation
13.5 Trimble Inc.
13.6 Deere and Company
13.7 CNH Industrial N.V.
13.8 TOPCON CORPORATION
13.9 DICKEY-john
13.10 Teejet Technologies
14. Appendix
14.1 Glossary
14.2 About
14.3 Market Intelligence Cloud
LIST OF TABLES
LIST OF FIGURES
The List of Companies - Precision Farming Market?
- AgJunction LLC
- Ag Leader Technology
- CropX Inc.
- AGCO Corporation
- Trimble Inc.
- Deere and Company
- CNH Industrial N.V.
- Topcon, DICKEY-john
- TeeJet Technologies