The global precision agriculture market size is expected to reach revenues more than $9 billion by 2023, growing at an impressive CAGR of around 16% by 2017–2023.
The smart use of technology to enable better decision making and optimized use of resources on farms is propelling the global precision agriculture market growth. The growing requirement to achieve higher yields and effectively meet the growing demand for food will boost the demand in the global precision farming market. This form of farming involves the deployment of a web of sensors, drones, and software to gather, process, and analyze data to derive actionable insights for on-farm decisions.
The global precision agriculture market is driven by the rising environmental awareness, growing resource costs, and impending regulatory challenges. The encroachment of forest land, indiscriminate water consumption and wastage, unscientific usage of pesticides, and fertilizers to achieve short-term productivity will propel the demand in the global precision farming market. The market research report provides in-depth market analysis and segmental analysis of the global precision agriculture market by applications, components, and geography.
The study considers the present scenario of the global precision agriculture market and its market dynamics for the period 2018−2023. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply side of the precision farming market. Also, the study profiles and analyzes various leading and other prominent market participants across applications, components, and geography in the market.
Precision Agriculture Market – Vendor Profile
Major Vendors
- AgJunction
- Trimble Navigation
- AGCO Corp
- Deere & Company
- Topcon Corp
Prominent Players
- Ag Leader Technology
- DICKEY – John Corporation
- Precision Planting Company
- Lindsay Corp.
- Raven Industries
- Novaraint Inc.
- SST Software
- TeeJet Technologies
- Valmont Industries
- Yara International
Precision Agriculture Market – Segmentation
Market Segmentation by Application
- Systems Guidance and Monitoring Systems
- GIS
- GNSS
- Remote Sensing
- Variable Rate Technology
- Telematics
Market Segmentation by Components
- Hardware
- Drones
- GPS Devices
- Sensors
- Others
- Software
Market Segmentation by Geography
- North Americas
- US
- Canada
- Europe
- France
- Germany
- Spain
- APAC
- China
- India
- Australia
- Latin America
- MEA
Precision Agriculture Market – Table of Contents
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Precision Agriculture Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Component
4.3.2 Market Segmentation by Application
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Precision Agriculture Market Derivation
6 Precision Agriculture Market at a Glance
7 Introduction
7.1 Overview
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Proliferation of Mobile Connectivity and Smartphones
8.1.2 Volatile Prices of Commodities and Input Raw Materials
8.1.3 Increased Food Demand due to Population Growth
8.1.4 Federal Intervention and Initiatives to Boost Productivity and Efficiency in Agriculture
8.1.5 YOY Impact of Market Growth Enablers
8.1.6 YOY Impact of Market Growth Enablers on Regions
8.2 Market Growth Restraints
8.2.1 Skepticism over Misuse of Farm Data
8.2.2 Huge Capital Investments Deter Initial Adoption
8.2.3 Lack of Awareness and Need for Knowledge Framework
8.2.4 YOY Impact of Market Growth Restraints
8.2.5 YOY Impact of Market Growth Restraints on Regions
8.3 Market Opportunities & Trends
8.3.1 Regulatory Frameworks to Impart Better Clarity on UAV Usage
8.3.2 Big Data and Internet of Agriculture Things
8.3.3 Worldwide Increase in Minimum Labor Wages Warrants the Need to Control Input Costs
8.3.4 YOY Impact of Market Opportunities & Trends
8.3.5 YOY Impact of Market Opportunities & Trends on Regions
9 Global Precision Agriculture Market
9.1 Market Overview
9.1.1 Market Size & Forecast 2017–2023
9.2 Porter’s Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry
10 Global Precision Agriculture Market by Application
10.1 Market Overview
10.2 Guidance and Monitoring Systems
10.2.1 Market Size & Forecast
10.2.2 GNSS: Market Size & Forecast
10.2.3 GIS: Market Size & Forecast
10.2.4 Remote Sensing: Market Size & Forecast
10.3 Variable Rate Technology
10.3.1 Market Size & Analysis
10.3.2 Variable Rate Fertilizer
10.3.3 Variable Rate Pesticides
10.3.4 Variable Rate Seeding
10.4 Telematics
10.4.1 Market Size & Forecast
11 Global Precision Agriculture Market by Component
11.1 Market Overview
11.2 Hardware
11.2.1 Market Size & Analysis
11.2.2 Sensors: Market Size & Forecast
11.2.3 Drones: Market Size & Forecast
11.2.4 GPS Devices: Market Size & Forecast
11.3 Software
11.3.1 Market Size & Analysis
12 Global Precision Agriculture Market by Geography
12.1 Market Overview
13 APAC: Precision Agriculture Market
13.1 Market Overview
13.1.1 Market Size & Forecast 2017–2023
13.2 Segmentation by Application
13.3 Segmentation by Component
13.4 Key Countries
13.4.1 China: Market Size & Forecast
13.4.2 India: Market Size & Forecast
13.4.3 Australia: Market Size & Forecast
13.4.4 Other Countries: Market Size & Forecast
14 EMEA: Precision Agriculture Market
14.1 Market Overview
14.1.1 Market Size & Forecast 2017–2023
15 Europe: Precision Agriculture Market
15.1 Market Overview
15.1.1 Market Size & Forecast 2017–2023
15.2 Segmentation by Applications
15.3 Segmentation by Components
15.4 Key Countries
15.4.1 France: Market Size & Forecast
15.4.2 Germany: Market Size & Forecast
15.4.3 Spain: Market Size & Forecast
15.4.4 Other Countries: Market Size & Forecast
16 MEA: Precision Agriculture Market
16.1 Market Overview
16.1.1 Market Size & Forecast 2017–2023
16.2 Segmentation by Application
16.3 Segmentation by Components
17 North America: Precision Agriculture Market
17.1 Market Overview
17.1.1 Market Size & Forecast 2017–2023
17.2 Segmentation by Application
17.3 Segmentation by Components
17.4 Key Countries
17.4.1 US: Market Size & Forecast
17.4.2 Canada: Market Size & Forecast
18 Latin America: Precision Agriculture Market
18.1 Market Overview
18.2 Segmentation by Application
18.3 Segmentation by Components
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