Thursday, July 18, 2024

Precision Farming Market Size, Emerging Technologies, Regional Trends and Comprehensive Research Study and Forecast: 2023-2029

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Anticipated Growth in Revenue:

The Precision Farming market, valued at USD 8.5 billion in 2022, is poised for significant growth, projected at a CAGR of 12.5% through the forecast period. By 2029, experts anticipate revenues to soar to approximately USD 19.39 billion, driven by advancements in digital agriculture and increasing adoption of precision farming techniques worldwide.

Precision Farming Market Overview:

Precision farming, also known as site-specific crop management, integrates data collection, remote sensing, GPS, and GIS technologies. This convergence enables farmers to manage field variability effectively, optimizing crop yields and sustainability practices. The sector leverages AI and machine learning to minimize on-farm wastage, enhance crop quality, and ensure sustainable food production from seeding to harvest.

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Report Scope and Research Methodology

The report comprehensively covers the global precision farming market, providing insights into market size, growth potential, key drivers, challenges, and opportunities. Methodologies include primary research, secondary research, data triangulation, and expert validation to ensure accuracy and reliability of findings.


Key drivers fueling market growth include technological advancements in sensor technologies, AI, and robotics, which enhance precision in agricultural practices. Rising global population and food demand, coupled with shrinking arable land, underscore the urgency for sustainable farming solutions. Government initiatives promoting smart agriculture further boost market expansion.

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Precision Farming Market Segmentation :

by Application

Yield Monitoring
Crop Scouting
Variable Rate Application
Field Mapping
Weather Tracking

by Component


by Technology

Global Positioning System
Geographic Information System
Remote Sensing
Variable Rate Technology

by Deployment


Precision Farming Market Regional Insight


The market is segmented by technology (remote sensing, GPS/GIS, telematics), application (yield monitoring, field mapping, soil monitoring), and geography. North America leads the global market, driven by technological prowess and robust infrastructure supporting precision farming adoption. Asia Pacific shows rapid growth, fueled by digitization in economies like India and China, with government support and increasing awareness propelling market penetration.

Some of the current players in the Precision Farming Market are:

1. Deere & Company – United States
2. Trimble – United States
3. AGCO Corporation – United States
4. Raven Industries – United States
5. Topcon Positioning Systems – United States
6. AgJunction – United States
7. Ag Leader Technology – United States
8. CNH Industrial – United States
9. SST Software – United States
10. Teejet Technologies – United States
11. Valmont Industries – United States
12. Precision Planting – United States
13. The Climate Corporation – United States
14. Lindsay Corporation – United States
15. Trimble Navigation Limited – United States
17. Sentera LLC – United States
18. SST Development Group, Inc. – United States
19. Farmers Edge – Canada
20. Mavrx Inc. – United States
21. Agri Con GmbH – Germany
22. Hexagon Agriculture – Sweden
23. AgroSense – Hungary
24. Yara International – Norway
25. Kubota Corporation – Japan

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Key Offerings:

  • Past Market Size and Competitive Landscape
  • Precision Farming Market Size, Share, Size & Forecast by different segment 
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Precision Farming Market Segmentation – A detailed analysis by Product
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations 

For additional reports on related topics, visit our website:

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