Global Precision Agriculture Market: Analysis and Forecast, 2019-2025
Global Precision Agriculture Market to Grow at a CAGR of 13.97% from 2019-2025
Market Report Coverage - Precision Agriculture
- Global Precision Agriculture Market (by Solution) - Software, Hardware, Services
- Global Precision Agriculture Market (by Technology) – Guidance Technology, Sensing Technology, Variable Rate Application Technology, Data Analytics and Intelligence, and Others
- Global Precision Agriculture Market (by Application) – Precision Irrigation, Field Monitoring, Precision Spraying, Precision Fertilization, Precision Planting, Data Management, and Others
- Global Precision Agriculture Market (by Farm Produce) - Field Crops (Cereals, Oil Crops, Roots, Tubers and Plantains, Industrial Crops, and Others), Permanent Crops (Fruits, Vegetables, Nuts, and Others), and Others
- Global Agriculture Drone Market (by Type)- Fixed Wing Drone, Single Rotor Drone, Multi Rotor Drone, and Hybrid VTOL Drone
- Global Agriculture Drone Market (by Application)- Soil & Field Mapping Analysis, Field Supervision, Crop Health Assessment, Crop Spraying, Irrigation Monitoring, and Others
- Global Agriculture Robot Market (by Type)- Harvesting and Picking Robots, Weeding Robots, Autonomous Robot Tractors and Others
- Global Agriculture Robot Market (by Business Model) - Agriculture-Robot-as-a-Product and Agriculture-Robot-as-a-Service
- North America - U.S., Canada, Mexico, and Rest-of-North America
- South America- Brazil, Argentina, Chile, Peru and Rest-of-South America
- Europe - Germany, France, Italy, Netherlands, Spain, Denmark, and Rest-of-Europe
- Asia-Pacific and Japan - Japan, Australia and New Zealand, India, Indonesia, Vietnam, Malaysia, and Rest-of-Asia-Pacific & Japan
- Middle East & Africa- Israel, South Africa, Turkey, and Rest-of-Middle East & Africa
- Growing Demand of Crop Yield
- Expanding Need for Climate Smart Farming
- Rising Labor Shortage
- Lack of Technical Knowledge and Awareness
- Complexity of Data Management and Data Privacy
- Impact of 3D Printing on Farming
- Blockchain for Agriculture
- Artificial Intelligence in Agriculture
Key Precision Agriculture Companies Profiled
Precision Agriculture Equipment Manufactures : AGCO Corporation, CLAAS Group, CNH Industrial N.V., Deere & Company, Hexagon Agriculture, Kubota Corporation, Raven Industries, Teejet Technologies, Topcon Corporation, The Toro Company, Yanmar Co. Ltd and Valmont Industries Inc
Precision Agriculture Software & Platform Providers : 365FarmNet GmbH, Agrivi, BASF SE, Granular Inc, IBM Corporation, Microsoft Corporation, and Trimble Inc
Robots and Drones Providers : Abundant Robotics Inc, AeroVironment, Inc., Deepfield Robotics, ecoRobotix Ltd., Harvest Automation Inc., Harvest Croo Robotics, Naio Technologies, Parrot SA, PrecisionHawk Inc, Robert Bosch GmbH, Robotics Plus, and Yamaha Motor Co. Ltd
Key Questions Answered:
- What is the expected global precision agriculture market size in terms of value during the period 2019-2025?
- What is the expected future scenario and revenue generated by the different types of solutions, including software, hardware, and support services?
- What is the expected future scenario and revenue generated by the technology segment for which the precision agriculture is offered, including, guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence, among others?
- What is the expected future scenario and revenue generated by the application segments for which precision agriculture is offered, including precision irrigation, field monitoring, precision spraying, precision fertilization, precision planting, and data management, among others?
- What is the expected future scenario and revenue generated by the precision agriculture operating for different farm produce, including field crops, permanent crops, and other produce types?
- What is the expected future scenario and revenue generated by global agriculture robots when they are offered as per different business models, including agriculture robot-as-a-product (ARaaP) and agriculture robot-as-a-service (ARaaS) in the precision agriculture market?
- What is the expected future scenario and revenue generated by the different types of global agriculture robots, such as weeding robots, harvesting and picking robots, autonomous robot tractors, and other robots in the precision agriculture market?
- What is the expected future scenario and revenue generated by the different types of global agriculture drones such as fixed-wing drones, single rotor drones, multi-rotor drones, and hybrid VTOL drones in the global precision agriculture market?
- What is the expected future scenario and revenue generated by the application segments for which global agriculture drone is offered, including soil & field mapping and analysis, field supervision, crop health assessment, crop spraying, irrigation monitoring, and others?
- Which region is the largest market for the global precision agriculture market?
- What is the expected future scenario and the revenue generated by different regions and countries in the global precision agriculture market, such as North America, South America, Europe, U.K., China, Asia-Pacific and Japan, and Middle East & Africa?
- What is the competitive strength of the key players in the global precision agriculture market based on the analysis of their recent developments, product offerings, and regional presence?
- Which are the different consortiums and associations present in the global precision agriculture market, and what is their role, focus area, and key functions in this market?
- Where do the key precision agriculture companies lie in their competitive benchmarking on the basis of their market coverage and market potential?
- What does the technology ecosystem of precision agriculture in the agriculture market constitute of?
- How is the funding and investment landscape in the global precision agriculture market?
- What are the market dynamics of the global precision agriculture market, including market drivers, restraints, and opportunities?
- What is the SWOT analysis for leading companies in the global precision agriculture market?
The precision agriculture market is projected to grow from $5,068.6 million in 2019 to $11,106.7 million by 2025 at a CAGR of 13.97% during the same time period. High growth in the market is expected to be driven by the need to effectively apply site-specific farming solutions to manage raw materials and resources, as per requirements. The deployment of automation, along with control and sensing systems, to steer the application of agricultural inputs is expected to augment the growth of the market.
Precision agriculture is also expected to reduce the ecological footprint of daily farming. In emerging countries, growth is expected to be driven by rising awareness among governments of different countries about the need to elevate farm produce while taking care of the environment. Furthermore, rising concerns over global food security and sustainability have led to extensive investments by the government in terms of initiatives and trade policies.
The exponential utilization of advanced solutions in the precision agriculture market has created opportunities for the companies to adopt strategies, such as collaborations, joint ventures, product launches, and development and partnerships.
The established companies in the precision agriculture market are focusing more on product launches and finding ways to improve the existing techniques. Moreover, acquisition activities have increased in the market during the last five years. Presently, the big four agricultural companies, namely, Monsanto, DuPont, Syngenta, and BASF, are constantly increasing their investment for the digitization of the farming sector, by acquiring or collaborating with the data sciences company.
Several start-ups, such as CropX Inc., Gamaya, EarthSense, Kray technologies, and AgDraft, have launched different solutions to compete with the market-dominant players. The wide-spread adoption of advanced solutions and techniques is essential for linking the gap between the demand and supply of the food.
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