Global Precision Agriculture Market, By Technology (Guidance Technology, Remote Sensing Technology, Variable-Rate Technology), Application (Yield Monitoring, Crop Scouting, Field Mapping, Variable Rate Application, Weather Tracking & Forecasting, Inventory Management, Farm Labor Management, Financial Management, Others), Offerings (Hardware, Software, Services), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Precision Agriculture Market
Precision agriculture market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 13.40% in the above-mentioned forecast period. Increasing need to adopt specific farming solutions to manage the raw materials has been directly impacting the growth of precision agriculture market.
Direct agriculture is a form of technological change in the agricultural sector. Direct agricultural market approaches are designed to improve crop yields and reduce labor shortages to meet global food demand. Precision Agriculture is gaining popularity among farmers due to the growing demand for good production with the resources provided. Advanced technology and techniques enable farmers to make better use of such resources as fertilizers, seeds, water, and pesticides. Climate change as a result of globalization has led to more accurate agricultural production and productivity.
An increase in demand for crop yield and the rising labour shortage is the main driver for the precision agriculture market. The increased need for climate-smart farming is also a driver for the precision agriculture market. Artificial intelligence in agriculture and the impact of 3D printing on farming is an opportunity for the precision agriculture market. Blockchain for agriculture is also an opportunity for the precision agriculture market.
Lack of awareness and technical farming knowledge is a challenge for the growth of the precision agriculture market. However, complexity for data privacy and management is the main restraint for the precision agriculture market during the forecast period of 2021-2028.
This precision agriculture market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research precision agriculture market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In January 2020, AGCO Corporation, a global producer of agricultural equipment, launched the new Fendt Momentum planter for North American plant producers. The flexible design and versatility of these planting materials establish a new standard of seed placement accuracy and provide technology to help overcome challenging planting conditions and even emerge and lead to lower yields. With this, the company has improved its product portfolio in the market.
Precision Agriculture Market Scope and Market Size
Precision agriculture market is segmented on the basis of technology, application and offering. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on technology, the precision agriculture market is segmented into guidance technology, remote sensing technology and variable-rate technology. Guidance technology is further segmented into GPS/GNSS-based guidance technology and GIS-based guidance technology. Remote sensing technology is further segmented into handheld or ground-based sensing and satellite or aerial sensing. Variable-rate technology is further segmented into map-based VRT and sensor-based VRT.
- Precision agriculture market has also been segmented based on application, into crop scouting, field mapping, yield monitoring, weather tracking & forecasting irrigation management, inventory management, farm labour management and variable rate application. Variable rate application is further segmented into precision irrigation, precision seeding, precision fertilization and pesticide VRA.
- Based on offering, the precision agriculture market is segmented into hardware, software and services. Hardware is further segmented into automation and control systems and sensing and monitoring devices. Automation and control systems is further sub segmented into displays, guidance and steering systems, GPS/GNSS devices, drones/UAVs, irrigation controllers, handheld mobile devices/handheld computers and flow and application control devices. Sensing and monitoring devices is further sub segmented into yield monitors, soil sensors, water sensors and climate sensors. Software is further segmented into local/web based and cloud based. Services are further segmented into system integration and consulting services, managed services, connectivity services, assisted professional services, maintenance and support services.
Precision Agriculture Market Country Level Analysis
Precision agriculture market is analysed and market size insights and trends are provided by country, technology, application and offering as referenced above.
The countries covered in the precision agriculture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the precision agriculture market due to mechanization and heavy dependence on technology for agriculture business. Increase in awareness about the quality of crops and the introduction of new initiatives to bring innovations is the main growing factor for the market in this region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to increased government initiatives which are being undertaken in developing countries such as India, Sri Lanka, and Nigeria to encourage the implementation of modern precision farming technologies.
The country section of the precision agriculture market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Precision Agriculture Market Share Analysis
Precision agriculture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to precision agriculture market.
The major players covered in the precision agriculture market report are AgJunction, Raven Industries, Inc., Deere & Company, AGCO Corporation, Trimble Inc, Prospera Technologies Ltd., Descartes Labs Inc., Topcon Positioning Systems Inc., AgEagle Aerial Systems Inc., Ag Leader Technology Inc., 365FarmNet GmbH, Abundant Robotics Inc., AeroVironment, Inc., BASF SE, CLAAS Group, CNH Industrial N.V., Granular Inc., Harvest Automation Inc., Hexagon Agriculture, Kubota Corporation, Naio Technologies, Parrot SA, PrecisionHawk Inc., Teejet Technologies, The Toro Company, Valmont Industries, Inc., YANMAR HOLDINGS CO., LTD. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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