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  • Precision Agriculture Market Forecasts & Analysis
  • Market Opportunities
  • Latest Trends & Dynamics
  • Key Industry Analysis
  • Competitive Benchmarking

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REPORT SUMMARY

Industry OverviewGlobal precision agriculture market is expected to value at $12.18 B in 2025 and will grow at a CAGR of 12% over the forecast period of 2020-2025. The major factors driving the growth of precision farming market includes increasing farm mechanization in developing countries, rising labor cost owing to shortage of skilled labor, increasing strain on the global food supply owing to increasing population.
Report CoverageThe report provides an in-depth coverage of the market dynamics such as market drivers, challenges, and opportunities. The report provides the value chain analysis for the market. Global and US market forecast have been provided along with the competitive landscape existing in the market.
Competitive LandscapeGrowth in the precision agriculture market is a direct replica of the broad market vendors that are making numerous breakthroughs in the agriculture market. These market vendors are developing advanced guidance systems, climate-weather predictions, and robotic systems. While, tremendous importance is given to existing input applications equipment. Start-up in PA market is majorly targeting smart irrigation and field monitoring techniques specializing in IoT solutions.

The key players in the Precision Agriculture market are Ag Leader Technology Inc., Plenty Inc., CropX Corp., Trimble Navigation Inc., AGCO Corp., and Raven Precision Inc.

TABLE OF CONTENTS

Market Definition
Market Segmentation
Research Methodology
Market Drivers
Market Restraints / Challenges
Market Opportunities
Global and US Precision Agriculture Market (in US$ Billion, 20162025)
Value Chain Analysis
Competitive Landscape

RESEARCH METHODOLOGY

MARKET SEGMENTATION

Precision Agriculture Market Segmentation by Technology
Guidance System
Remote Sensing
VRT (Variable-rate Tech.)
Drones & UAVs
Precision Agriculture Market Segmentation by Application
Yield Monitoring
Soil Monitoring
Field Mapping
Variable Rate Application
Precision Agriculture Market Segmentation by Component Type
Hardware
Software
Services
Precision Agriculture Market Segmentation by Region
North America
Asia Pacific
Europe
Middle East & Africa
South America

Precision Agriculture Market Infographic

How big is the precision farming market?

Global precision agriculture market size is expected to value at $12.18 B in 2025 and will grow at a CAGR of 12% over the forecast period of 2020-2025. The major factors driving the growth of the precision farming market include increasing farm mechanization in developing countries, rising labour cost owing to shortage of skilled labour, increasing strain on the global food supply owing to increasing population. 

Higher agriculture yield to meet demands of ever-growing populations is driving agriculture market size. According to Farming Forecast, farmers, all around the globe, will have to produce 70% more food by 2050, as per the UN Food and Agriculture Organization (FAO). Increasing the adoption of smart technologies in the global agriculture sector, such as Variable-rate technologies (VRTs) have allowed farmers to make more customized land management decisions, enabling more efficient use of inputs such as seeds, fertilizers, and pesticides under variable field conditions.

Precision agriculture relies upon specialized equipment, software and IT services. The approach includes accessing real-time data about the farming conditions. Raw data offer information about the crops, soil and ambient air, along with other relevant information such as hyper-local weather predictions, labour costs and equipment availability.

What are the factors driving the precision farming market?

Agriculture 4.0 & Upcoming Agriculture 5.0: Future   agriculture   will   use    sophisticated    technologies    such    as    robots,    temperature and moisture sensors, aerial images, and GPS  technology

Robotics and Automation: Autonomous operations in agro-technology are enabled by automated steering technology and high precision positioning systems as well as integrated electronic communication systems

Vision and Machine Learning Technology: The increasing use of drones, with many companies investing in this technology. In the agricultural sector, drones are widely used for monitoring, field analysis, livestock management, irrigation mapping, and crop spraying. Furthermore, development of scouting robots is another emerging trend in the market. For instance, American Robotics, an industrial drone developer specializing in agricultural automation, unveiled its flagship product Scout, which is a self-charging, self-managing drone system capable of autonomously carrying out daily scouting missions.

Irrigation Management as a New Market Front: Irrigation management is expected to witness an attractive rate of growth during the forecast period. Irrigation management involves the use of technologies such as weather-based controllers, rain sensors, temperature sensors, network elements, water meters, and sensor-based controllers.

Who are the key players in the precision farming market?

The key precision agriculture companies are include Ag Leader Technology Inc., Plenty Inc., CropX Corp., Trimble Navigation Inc., AGCO Corp., and Raven Precision Inc.