Global Markets for Precision Farming

Dec 2023| FOD087B| BCC Publishing

Report Highlights

The global market for precision farming is expected to increase from $8.5 billion in 2023 to $14.9 billion by the end of 2028, with a compound annual growth rate (CAGR) of 11.9% during the forecast period of 2023-2028.

Report Includes

  • 64 data tables and 44 additional tables
  • An overview of the global market for precision farming technology
  • Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
  • Estimates of the market size, a revenue growth forecast for the precision farming market, and a corresponding analysis of market share by component (hardware/software), application and region
  • In-depth information (facts and figures) pertaining to the major factors influencing the market, including drivers, restraints, opportunities and challenges
  • Analysis of the market growth opportunities through a holistic review of both Porter’s Five Forces and PESTLE models, taking into consideration the prevailing micro- and macroenvironmental factors
  • Coverage of the technological, economic and business considerations within the global market, with market growth forecasts to 2028
  • A discussion of the impact of ESG factors on company performance, ratings and matrices; consumer attitudes; and ESG practices followed
  • A look at the major vendors and an analysis of the industry structure with respect to company shares, M&A activity and venture funding
  • Company profiles of major players within the industry, including Deere & Co., Trimble Inc., AGCO Corp., CNH Industrial N.V., and Raven Industries Inc.

Report Scope

This report incorporates an in-depth analysis of the precision farming market, including market estimations and trends through 2028. The report is focused on estimating the market for precision farming, which covers components, hardware, software, and applications. Major players, competitive intelligence, systems and technologies, market dynamics, and regional opportunities are discussed in detail. The report examines recent developments and product portfolios of major players. The report presents a market analysis and estimates the precision farming market’s compound annual growth rate (CAGR).

This report segments the global market by these geographic regions: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. For market value, data is provided for 2022 as the base year, estimates for 2023, and a forecast through year-end 2028.

The report also discusses the major players across each regional precision farming market. Further, it explains the major drivers and regional dynamics of the global precision farming market and current trends within the industry. The report concludes with a particular focus on the vendor landscape and includes detailed profiles of the major vendors in the market.

Frequently Asked Questions (FAQs)

The global precision farming market was valued at $7.6 billion in 2022 and will reach $14.9 billion by 2028. The market is projected to grow at a growth rate of 11.9% through 2028.
Factors such as technological advancements, issues of rising labor costs and labor shortages, government initiatives and support, and farmers are looking for ways to maximize profitability.
  • Market by Component
  • Market by Hardware
  • Market by Software
  • Market by Application
Crop management application of precision farming will lead the global market through 2028.
North American region has the highest market share in the global precision farming market.

Analyst Credentials

Kunal R. Nagpure– Consultant-Food & Beverage Research
Kunal Nagpure is an accomplished market researcher with over eight years of experience in the F&B, Environment, and Agriculture markets. He is passionate about using his knowledge to help clients make data-driven decisions and achieve their business objectives. With a keen eye for detail and a strong analytical mindset, Kunal has delivered numerous successful research projects that have enabled clients to gain a competitive edge in their respective markets. Academically, Kunal holds a master’s degree in Marketing and Operations and a bachelor’s degree in Biotech Engineering.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $7.6 billion
Market size forecast $14.9 billion
Growth rate CAGR of 11.9% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Solution, Hardware, Software, Application
Regions covered North America, Europe, Asia-Pacific, Middle East and Africa (MEA), Latin America
Countries covered U.S., Canada, Russia, France, Ukraine, Spain, Germany, Rest of Europe, China, India, Japan, Indonesia, Australia, Rest of APAC, Saudi Arabia, Morocco, Israel, Rest of the MEA, Brazil, Mexico, Argentina, Rest of Latin America
Key Market Drivers
  • Innovations Driving Precision Agriculture to New Heights
  • Rising Labor Costs and Labor Shortages
  • Harnessing the Power of Data for Informed Choices
  • Policy Support for Sustainable Agriculture
  • Maximizing Profits in a Competitive Market
Companies studied
  • AGCO CORP.
  • AGJUNCTION INC.
  • AG LEADER TECHNOLOGY INC.
  • THE CLIMATE CORP.
  • CNH INDUSTRIAL N.V.
  • CORTEVA INC.
  • CROPX INC.
  • DEERE & CO.
  • DICKEY-JOHN CORP.
  • FARMERS EDGE INC.
  • HEXAGON AB
  • KUBOTA CORP.
  • PRECISIONHAWK
  • RAVEN INDUSTRIES INC.
  • SENTERA LLC.
  • SITE-SPECIFIC TECHNOLOGIES SOFTWARE
  • SST DEVELOPMENT GROUP INC.
  • TARANIS
  • TEEJET TECHNOLOGIES
  • TOPCON CORP.
  • THE TORO CO.
  • TRIMBLE INC.

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Global Markets for Precision Farming186Free
Chapter- 1: Introduction10Free
Chapter- 2: Summary and Highlights5Free
Chapter- 3: Industry Overview6Free
Chapter- 4: Market Overview and Trends6Free
Chapter- 5: Global Market Analysis by Solution3Free
Chapter- 6: Global Market Analysis by Hardware3Free
Chapter- 7: Global Market Analysis by Software3Free
Chapter- 8: Global Market Analysis by Application3Free
Chapter- 9: North American Market for Precision Farming10Free
Chapter- 10: European Market for Precision Farming14Free
Chapter- 11: Asia-Pacific Market for Precision Farming13Free
Chapter- 12: Latin American Market for Precision Farming10Free
Chapter- 13: Middle East & African Market for Precision Farming11Free
Chapter- 14: ESG Development9Free
Chapter- 15: Company Profiles80Free
Published - Dec-2019| Analyst - Ritam Biswas| Code - FOD087A

Report Highlights

The global market for precision farming technologies should grow from $5.2 billion in 2019 to $9.4 billion by 2024, with a compound annual growth rate (CAGR) of 12.6% for the period of 2019-2024.

Report Includes

  • 52 data tables and 10 additional tables
  • Detailed overview of the global precision farming technologies market
  • Analyses of the global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
  • Discussion of major factors, advancements in agriculture technologies, regional trade analysis, and changing regulatory dynamics that influence the demand of this evolving market
  • Emphasis on challenges faced by this market, such as high initial implementation and maintenance cost, and lack of skilled personnel in certain regions
  • Coverage of hardware (equipment, tools and devices etc.), associated software (e.g. farm management software) and services revenue of the covered companies
  • A relevant patent analysis covering latest significant developments in agriculture technology
  • Profiles of leading market participants within the sector. Major players including AGDATA, Buhler Industries Inc., Deere & Co., DuPont, EXEL Industries SA, Intelligent Agricultural Solutions LLC, Raven Industries Inc., and Yara International Inc.
Global Markets for Precision Farming

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