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Precision Agriculture Market Insights

Precision Agriculture Market size was valued at USD 9.7 Billion in 2023 and is expected to reach USD 21.9 Billion by the end of 2030 with a CAGR of 10.7% During the Forecast Period 2024-2030.

Precision agriculture, which is sometimes referred to as smart farming or precision farming, is a sophisticated method of agricultural management that makes use of specialized instruments, data analytics, and technology to maximize several facets of crop production. Improving agricultural operations' productivity, sustainability, and efficiency while reducing resource inputs and environmental effects is the main objective of precision agriculture. Precision agriculture is fundamentally dependent on the gathering, combining, and evaluating of enormous volumes of data from many sources, such as weather stations, drones, GPS units, sensors, and satellite pictures. To produce useful insights and suggestions for farmers, this data is processed through the use of complex algorithms and software platforms. The market for precision agriculture is large and includes a variety of goods and services, including as hardware, software, consulting, and agronomic knowledge. Precision agricultural adoption is anticipated to pick up speed as the industry continues to face obstacles including resource constraint, climate change, and population growth. This will spur innovation and market expansion. In the end, precision agriculture has the potential to change farming methods so they are more effective, robust, and sustainable in the face of changing global issues.

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Precision Agriculture Market Trends

Precision agriculture is a disruptive force in the ever-changing agricultural landscape, utilizing technology to maximize resource utilization and boost output. The use of drone technology, AI-driven analytics, and IoT devices to enable accurate crop monitoring and management are some of the key themes. These developments are changing conventional agricultural methods and providing farmers all around the world with benefits related to sustainability and increased efficiency.

The Marriage of IoT and Sensor Integration

Precision agriculture is changing dramatically as a result of the Internet of Things' (IoT) growth. Real-time data on everything from crop health and equipment performance to weather patterns and soil conditions is gathered by dense networks of sensors spread throughout fields. Sophisticated software uses this data to provide farmers information that they can use. The Internet of Things (IoT) enables data-driven decision making, which promotes efficiency and sustainability by helping determine proper irrigation and fertilizer deficits.

Powering the Future with AI and Machine Learning

By utilizing large datasets, machine learning (ML) and artificial intelligence (AI) are transforming precision agriculture. In order to spot trends, forecast crop yields, and allocate resources as efficiently as possible, these systems can evaluate years' worth of data. Early detection of disease and pest outbreaks is a strength of AI algorithms, allowing for the implementation of preventative measures. In order to maximize effectiveness and reduce resource waste, ML can personalize planting, irrigation, and harvesting suggestions.

Birds-Eye View with Remote Sensing and Satellite Imagery

With the use of satellite imaging and remote sensing technology, precision agriculture is reaching new heights. Farmers can gain unprecedented insights into crop health, soil moisture levels, and pest infestations over their whole fields by using high-resolution satellite photos. This enables focused interventions, cutting down on pointless care and guaranteeing best use of available resources. Remote sensing enables proactive management and promotes a more sustainable agricultural strategy by offering a comprehensive picture from space.

Precision Agriculture Market Scope Of the Report

This report offers past, present as well as future analysis and estimates for the Precision Agriculture Market. The market estimates that are provided in the report are calculated through an exhaustive research methodology. The research methodology that is adopted involves multiple channels of research, such as – primary research, secondary research, and subject-related expert advice. The market estimates are calculated based on the influence of the current market dynamics along with various economic, social, and political factors on the Precision Agriculture Market. Also, various regulations, government spending, and research and development growth define the market data. Both positive, as well as negative changes to the market, are taken into consideration for the market estimates.

Precision Agriculture Market Competitive Landscape

The market report lists the major players involved in the Precision Agriculture Market under the competitive landscape and company profile chapters. The major players in the market are evaluated based on their product and/or service offerings, financial statements, key developments, strategic approach to the market, position in the market, geographical penetration, and other key features. The chapter also highlights the strengths, weaknesses, opportunities, and threats (SWOT analysis), winning imperatives, current focus and strategies, and threats from competition for the top three to five players in the market. Furthermore, the list of companies included in the market study can also be customized as per the client’s requirements. The competitive landscape section of the report covers details in terms of the top five company’s ranking, key developments such as recent developments, partnerships, mergers and acquisitions, new product launches, etc., the company’s regional footprint, and company industry footprint as per the market and Ace matrix.

Company Regional Footprint

This section provides geographical or regional level reach or their sales network presence for each of company’s considered for profiling.

Company Industry Footprint

This section provides the cross-analysis of industry verticals and market players that gives a clear picture of the company landscape with respect to the industries they are serving their products and services.

Ace Matrix

This section provides company benchmarking into Active, Cutting Edge, Innovator, and Emerging based on their product and business strategy. In Which, product strategy includes parameters such as Breadth & Depth of Product, Focus on Product Innovation, Product features & functions, Scalability whereas business strategy includes parameters such as geographical reach, Industry Coverage, Inorganic Growth, and Roadmap.

Top Precision Agriculture Market Companies 

The Precision Agriculture Market Report delivers an in-depth analysis of leading and emerging players in the market. The Report provides comprehensive lists of key companies which have been enlisted on the basis of type of products they are offering & other factors in Market. Among company profiling market analysis, the analysts who worked on the report gave the year of market entry for each mentioned player can be considered for the research analysis.

The “Global Precision Agriculture Market” study report will provide a valuable insight with an emphasis on the global market including some of the Top Precision Agriculture Market Companies are Ag Leader, AGCO Corporation, AgJunction, Deere, Trimble, CNH Industrial, Derr Equipment, DICKEY-John, Monsanto, MTS Systems, Raven Industries. 

Precision Agriculture Market Segmentation

By Type

  • Precision Automatic Control System
  • Sensing And Monitoring Equipment
  • Agricultural Management System

By Application

  • Grain Planting
  • Fruit Planting
  • Vegetable Planting

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Precision Agriculture Market Report Coverage

Research Methodology

The qualitative and quantitative data of the Precision Agriculture Market is prepared through various research considerations such as subject matter expert advice, primary and secondary research. Primary research leverages valuable information from face-to-face and/or telephonic interviews and surveys, questionnaires, industry expert opinion, KOLs, customers, and others. Primary interviews are conducted regularly with industry experts to create in-depth expert information on the market and to substantiate the existing analysis of the data. Secondary research done by Verified Market Reports research team through various sources such as
  • Company websites, annual reports, financial reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent, and regulatory databases
  • National government documents, statistical databases, and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market
  • Paid database
Verified Market Reports contacted various key opinion leaders from the same industry, who are top and mid-level executives from top companies as well as executives (marketing heads, regional heads) from End users to collect information/data such as the dominance of particular brand in each country as well as overall region, pricing of services and products. The data for total sales was determined through primary research in each of the countries by interviewing key opinion leaders which included insights from
  • C-Level Executives
  • Marketing Manager, Brand Manager, Product Manager
  • Sales Manager, Sales Officer, Regional Sales Manager, Country Manager
  • Procurement Manager
  • Production Manager
  • Technical Personnel
  • Distributors
The subject matter experts act as a key link to validate and substantiate the key research findings and understandings as the experts have acquired extensive experience in the market over the years. Secondary research data for the Precision Agriculture Market are collected from the internet, printed documents (company annual reports and research papers) related to the industry, industrial magazines, association findings, government websites, and others. These multiple information sources provide a key outline of the market.
  1. Introduction of Precision Agriculture Market
    1. Market Definition
    2. Market Segmentation
    3. Research Timelines
    4. Assumptions
    5. Limitations
  2. *This section outlines the product definition, assumptions and limitations considered while forecasting the market.
  3. Research Methodology
    1. Data Mining
    2. Secondary Research
    3. Primary Research
    4. Subject Matter Expert Advice
    5. Quality Check
    6. Final Review
    7. Data Triangulation
    8. Bottom-Up Approach
    9. Top-Down Approach
    10. Research Flow
  4. *This section highlights the detailed research methodology adopted while estimating the overall market helping clients understand the overall approach for market sizing.
  5. Executive Summary
    1. Market Overview
    2. Ecology Mapping
    3. Primary Research
    4. Absolute Market Opportunity
    5. Market Attractiveness
    6. Precision Agriculture Market Geographical Analysis (CAGR %)
    7. Precision Agriculture Market by Type USD Million
    8. Precision Agriculture Market by Application USD Million
    9. Future Market Opportunities
    10. Product Lifeline
    11. Key Insights from Industry Experts
    12. Data Sources
  6. *This section covers comprehensive summary of the global market giving some quick pointers for corporate presentations.
  7. Precision Agriculture Market Outlook
    1. Precision Agriculture Market Evolution
    2. Market Drivers
      1. Driver 1
      2. Driver 2
    3. Market Restraints
      1. Restraint 1
      2. Restraint 2
    4. Market Opportunities
      1. Opportunity 1
      2. Opportunity 2
    5. Market Trends
      1. Trend 1
      2. Trend 2
    6. Porter's Five Forces Analysis
    7. Value Chain Analysis
    8. Pricing Analysis
    9. Macroeconomic Analysis
    10. Regulatory Framework
  8. *This section highlights the growth factors market opportunities, white spaces, market dynamics Value Chain Analysis, Porter's Five Forces Analysis, Pricing Analysis and Macroeconomic Analysis
  9. by Type
    1. Overview
    2. Precision Automatic Control System
    3. Sensing And Monitoring Equipment
    4. Agricultural Management System
  10. by Application
    1. Overview
    2. Grain Planting
    3. Fruit Planting
    4. Vegetable Planting
  11. Precision Agriculture Market by Geography
    1. Overview
    2. North America Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. U.S.
      2. Canada
      3. Mexico
    3. Europe Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Germany
      2. United Kingdom
      3. France
      4. Italy
      5. Spain
      6. Rest of Europe
    4. Asia Pacific Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. China
      2. India
      3. Japan
      4. Rest of Asia Pacific
    5. Latin America Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Brazil
      2. Argentina
      3. Rest of Latin America
    6. Middle East and Africa Market Estimates & Forecast 2021 - 2031 (USD Million)
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  12. This section covers global market analysis by key regions considered further broken down into its key contributing countries.
  13. Competitive Landscape
    1. Overview
    2. Company Market Ranking
    3. Key Developments
    4. Company Regional Footprint
    5. Company Industry Footprint
    6. ACE Matrix
  14. This section covers market analysis of competitors based on revenue tiers, single point view of portfolio across industry segments and their relative market position.
  15. Company Profiles
    1. Introduction
    2. Ag Leader
      1. Company Overview
      2. Company Key Facts
      3. Business Breakdown
      4. Product Benchmarking
      5. Key Development
      6. Winning Imperatives*
      7. Current Focus & Strategies*
      8. Threat from Competitors*
      9. SWOT Analysis*
    3. AGCO Corporation
    4. AgJunction
    5. Deere
    6. Trimble
    7. CNH Industrial
    8. Derr Equipment
    9. DICKEY-John
    10. Monsanto
    11. MTS Systems
    12. Raven Industries

  16. *This data will be provided for Top 3 market players*
    This section highlights the key competitors in the market, with a focus on presenting an in-depth analysis into their product offerings, profitability, footprint and a detailed strategy overview for top market participants.


  17. Verified Market Intelligence
    1. About Verified Market Intelligence
    2. Dynamic Data Visualization
      1. Country Vs Segment Analysis
      2. Market Overview by Geography
      3. Regional Level Overview


  18. Report FAQs
    1. How do I trust your report quality/data accuracy?
    2. My research requirement is very specific, can I customize this report?
    3. I have a pre-defined budget. Can I buy chapters/sections of this report?
    4. How do you arrive at these market numbers?
    5. Who are your clients?
    6. How will I receive this report?


  19. Report Disclaimer

Companies featured in this report

  • Ag Leader
  • AGCO Corporation
  • AgJunction
  • Deere
  • Trimble
  • CNH Industrial
  • Derr Equipment
  • DICKEY-John
  • Monsanto
  • MTS Systems
  • Raven Industries

Frequently Asked Questions

How big is the Precision Agriculture Market?
Precision Agriculture Market was valued at USD 9.7 Billion in 2023 and is expected to reach USD 21.9 Billion by the end of 2030 with a CAGR of 10.7% During the Forecast Period 2024-2030.
Who are the major players in the Precision Agriculture Market?
The leading Players in the market are Ag Leader, AGCO Corporation, AgJunction, Deere, Trimble, CNH Industrial, Derr Equipment, DICKEY-John, Monsanto, MTS Systems, Raven Industries.
Which segments are covered in the report of Precision Agriculture Market?
The Precision Agriculture Market is Segmented On The Basis Of Type, Application, And Geography.
Which regions are covered in the report that having a potential scope for the Precision Agriculture Market?
On the basis of Geography, The Precision Agriculture Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
How can I get a sample report of statistical data for the Precision Agriculture Market?
Verified Market Reports provides a sample report for the Precision Agriculture Market as per requirements. In addition to that, 24*7 chat support & direct call services are available for further assistance.
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