Global Markets for Precision Farming

Report Highlights:

The global market for precision farming technologies should grow from $5.2 billion in 2019 to $9.4 billion by 2024, with a compound annual growth rate (CAGR) of 12.6% for the period of 2019-2024.

The global market for precision farming hardware technologies should grow from $3.2 billion in 2019 to $5.4 billion by 2024, with a CAGR of 10.8% for the period of 2019-2024.

The global market for precision farming software technologies should grow from $2.0 billion in 2019 to $4.1 billion by 2024, with a CAGR of 15.2% for the period of 2019-2024.

Report Scope:

BCC Research defines precision farming (also known as precision agriculture or satellite farming) as a farming management concept that utilizes software and hardware for observing, measuring and responding to intra-field variability in crops, resulting in better crop management and more effective output.

Precision farming includes various hardware technologies such as automated systems, control systems, sensing and monitoring devices as well as software solutions such as farm management software. In precision farming, software and hardware works in conjunction; a fool-proof precision farming tool/system will have multiple hardware and software solutions seamlessly integrated and working together.

The scope of this report covers the global market for precision farming technologies for various end-user application industries. The market is broken down by technologies, type, end-use and region and are further discussed in detail. Revenue forecasts from 2019 to 2024 are given for each market segment as well as regional markets with estimated values derived from manufacturers' total revenues.

The report also includes a discussion of the major players across each regional market. Further, it explains the major drivers and regional dynamics of the market and current trends within the industry.

The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors.

Detailed inclusions:

• BCC Research defines precision farming technologies (also known as precision agriculture or satellite farming) as a farming management concept that utilizes software and hardware for observing, measuring and responding to intra-field variability in crops, resulting in better crop management and more effective output.

• The report covers hardware and software revenue of companies active in the market. The report also covers companies in specific segments such as drones, imaging, etc.

• Large technology and hardware manufacturers (drones, sensors, imaging, etc.) that do not have product specifically for the precision farming market are out of scope of this report.

• The report excludes standalone service providers and revenue from those providers. This may include services such as consulting, education, post sales services, etc.

• Revenue forecasts from 2019 to 2024 are given for each market segment, and regional market with estimated values are derived from manufacturers' total revenues (which includes hardware, software and services).

The report begins by introducing the reader to how the market for precision farming technologies has evolved over time and how various factors are impacting the market.

The report then identifies the following:

• Primary forces with a direct impact on the precision farming technologies markets.

• Secondary forces that have an indirect impact.

• Key funding and financing in this space which are particularly supportive for new entrants.

• Some key challenges that may hinder the growth of this market.

• Key trends visible in the market.

• The top applications of precision farming technologies, along with top precision farming technology segments.

• Demand in the North America, Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC) for precision farming technology products.

Report Includes:

• 52 data tables and 10 additional tables

• Detailed overview of the global precision farming technologies market

• Analyses of the global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024

• Discussion of major factors, advancements in agriculture technologies, regional trade analysis, and changing regulatory dynamics that influence the demand of this evolving market

• Emphasis on challenges faced by this market, such as high initial implementation and maintenance cost, and lack of skilled personnel in certain regions

• Coverage of hardware (equipment, tools and devices etc.), associated software (e.g. farm management software) and services revenue of the covered companies

• A relevant patent analysis covering latest significant developments in agriculture technology

• Profiles of leading market participants within the sector. Major players including AGDATA, Buhler Industries Inc., Deere & Co., DuPont, EXEL Industries SA, Intelligent Agricultural Solutions LLC, Raven Industries Inc., and Yara International Inc.

Table of Contents

Chapter 1: Introduction

• Study Goals and Objectives
• Reasons for Doing This Study
• Scope of Report
• Information Sources
• Methodology
• Geographic Breakdown
• Analyst's Credentials
• BCC Custom Research
• Related BCC Research Reports

Chapter 2: Summary and Highlights

Chapter 3: Market and Technology Background

• Evolution of the Precision Farming Technology Market
• Technology Roadmap of Precision Farming
• Various Technologies Used in the Precision Farming Market
  • Guidance Systems
  • Remote Sensing Technology
  • Variable Rate Technology (VRT)
• New Opportunities in the Precision Farming Technologies Market
  • Adoption of Autonomous Machines
  • High-throughput Plant Phenotyping (HTPP)
  • Cobotics
  • IoT in Precision Farming
• Various Stakeholders in the Precision Farming Technologies Market
  • Agricultural OEM
  • Suppliers
  • Seed Producers
  • IT/Big Data Companies
  • Advanced Solution Providers
  • Research Centers
  • Investment Funds
  • IoT and Related Space
• Growth Forecast of the Precision Farming Technologies Market
• Major Market Forces
  • Focus on Sustainable Agriculture
  • Need to Serve an Ever-Increasing Population
  • Need to Improve Efficiency and Productivity
  • Measurable Business Benefits
  • Availability of Low-Cost Tools and Solutions
  • Reduce Greenhouse Gas (GHG) Emissions
• Key Buying/Selection Criteria
  • Initial Cost (Implementation Cost)
  • Payback Period
  • Ease of Understanding/Usage
  • Feature Availability
  • Portfolio of Offerings
  • Technological Advancement
  • Integration Ability
• Key Strategies in the Precision Farming Technologies Space
  • Mergers and Acquisition
  • Partnerships
  • Innovation
  • Focus on Expansion into Emerging Regions
  • Wider Portfolio of Offerings

Chapter 4: Global Market for Precision Farming Technologies, by Type

• Guidance System Technologies
• Remote Sensing and Control Systems
• Variable Rate Technology (VRT)
  • Map-Based Variable Rate Applications
  • Sensor-Based Variable Rate Applications
  • Variable Rate Seeding

Chapter 5: Global Market for Precision Farming Technologies, by Component

• Hardware Segment
  • Automation and Control Systems
  • Sensing and Monitoring Devices
• Software Segment
  • Farm Management Software

Chapter 6: Global Market for Precision Farming Technologies, by Application

• Yield Monitoring
• Soil Monitoring
  • Soil Fingerprinting
• Variable Rate Applications
  • Map-Based
  • Sensor-Based
• Field Mapping
• Software Applications
• Others

Chapter 7: Global Market for Precision Farming Technologies, by Region

• North America
  • United States
  • Canada
  • Mexico
• Europe, Middle East and Africa (EMEA)
  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Special Case: The Netherlands
  • Middle East and Africa
• Asia-Pacific (APAC)
  • Australia
  • Japan
  • China
  • New Zealand
• Analysis of Key Geographies

Chapter 8: Industry Structure and Patent Analysis

• Key Trends in the Market for Precision Farming Technologies
  • Increasing Use of UAVs
  • Strong Expected Growth of Weather Tracking and Forecasting
  • Continued Growth and Acceptance in Emerging Regions
  • Continued Partnerships and Acquisitions
  • Strong Investment Momentum
  • Continued Advancement of Automation
• Venture Capital Funding and Investments
• Mergers and Acquisitions
  • Technological Development and New Technology Acquisition
  • Geographic Expansion
  • Expansion into New Categories
• Industry Challenges and Concerns
  • Technological Acceptance and Know-how
  • Integration Issues and Challenges
  • High Initial Implementation Cost
  • Maintenance Issues and Costs
• Patent Activity

Chapter 9: Company Profiles

• AG LEADER TECHNOLOGY INC.
• AERIAL TECHNOLOGY INTERNATIONAL (ATI)
• AGCO CORP.
• AGDATA
• AGEAGLE AERIAL SYSTEMS INC.
• AGERPOINT INC.
• AGJUNCTION INC.
• AG-NAV INC.
• AGRIAN INC.
• AGRIBLE INC.
• AGRIDATA INC.
• BASF SE
• BUHLER INDUSTRIES INC.
• CROPX LTD.
• DEERE & CO.
• DRONEDEPLOY
• DUPONT
• ESRI
• EXEL INDUSTRIES SA
• FARMERS EDGE PRECISION CONSULTING INC.
• INTELLIGENT AGRICULTURAL SOLUTIONS LLC
• LINDSAY CORP.
• MONSANTO CO.
• MTS SYSTEMS CORP.
• NOZZLEWORKS INC.
• PHYTELLIGENCE INC.
• PRECISION PLANTING INC.
• PRECISIONHAWK
• RAVEN INDUSTRIES INC.
• SOYL
• TEEJET TECHNOLOGIES
• TOPCON CORP.
• TRIMBLE NAVIGATION LTD.
• YARA INTERNATIONAL ASA

List of Tables

• Summary Table: Global Markets for Precision Farming Technologies, by Component, Through 2024
  • Table 1: Some Key Players in the Precision Farming and Agricultural Technologies Space
  • Table 2: Global Market for Precision Farming Technologies, Through 2024
  • Table 3: Major Market Forces and Their Impact
  • Table 4: Key Buying Criteria for Precision Farming Technologies and Their Impact
  • Table 5: Key Buying Criteria for Precision Farming Technologies -- All Geographical Regions
  • Table 6: Some Recent Partnerships in the Precision Farming Technologies Market, 2019
  • Table 7: Global Market for Precision Farming Technologies, by Type, Through 2024
  • Table 8: Global Market for Guidance System Technologies, Through 2024
  • Table 9: Some of the Key Companies in the Guidance System Technologies Space
  • Table 10: Global Market for Remote Sensing and Control Systems, Through 2024
  • Table 11: Global Market for Variable Rate Technology, Through 2024
  • Table 12: Global Market for Precision Farming Technologies, by Component, Through 2024
  • Table 13: Global Market Shares of Precision Farming Technologies, by Component, 2018-2024
  • Table 14: Global Market for Precision Farming Hardware Technologies, Through 2024
  • Table 15: Global Market Shares of Precision Farming Hardware Technologies, by Type, Through 2024
  • Table 16: Global Market for the Automation and Control Systems Segment of Precision Farming Hardware Technologies, Through 2024
  • Table 17: Global Market for Sensing and Monitoring Devices Segment of Precision Farming Hardware Technologies, Through 2024
  • Table 18: Global Market for Precision Farming Software Technologies, Through 2024
  • Table 19: Global Market for Precision Farming Software Technologies, by Type, Through 2024
  • Table 20: Global Market for Farm Management Software Segment of Precision Farming Software Technologies, Through 2024
  • Table 21: Global Market for Precision Farming Technologies, by Application, Through 2024
  • Table 22: Global Market Shares of Precision Farming Technologies, by Application, 2018
  • Table 23: Global Market Shares of Precision Farming Technologies, by Application, 2019
  • Table 24: Global Market Shares of Precision Farming Technologies, by Application, 2024
  • Table 25: Global Market for Yield Monitoring Applications in Precision Farming Technologies, Through 2024
  • Table 26: Global Market for Soil Monitoring Applications in Precision Farming Technologies, Through 2024
  • Table 27: Global Market for Variable Rate Applications in Precision Farming Technologies, Through 2024
  • Table 28: Global Market for Field Mapping Applications in Precision Farming Technologies, Through 2024
  • Table 29: Global Market for Software Applications in Precision Farming Technologies, Through 2024
  • Table 30: Global Market for Precision Farming Technologies, by Region, Through 2024
  • Table 31: Global Market Shares of Precision Farming Technologies, by Region, 2018
  • Table 32: Global Market Shares of Precision Farming Technologies, by Region, 2019
  • Table 33: Global Market Shares of Precision Farming Technologies, by Region, 2024
  • Table 34: North American Market for Precision Farming Technologies, by Component, Through 2024
  • Table 35: North American Market for Precision Farming Technologies, by Type, Through 2024
  • Table 36: North American Market for Precision Farming Technologies, by Application, Through 2024
  • Table 37: North American Market for Precision Farming Technologies, by Country, Through 2024
  • Table 38: U.S. Market for Precision Farming Technologies, Through 2024
  • Table 39: Canadian Market for Precision Farming Technologies, Through 2024
  • Table 40: Mexican Market for Precision Farming Technologies, Through 2024
  • Table 41: EMEA Market for Precision Farming Technologies, by Component, Through 2024
  • Table 42: EMEA Market for Precision Farming Technologies, by Type, Through 2024
  • Table 43: EMEA Market for Precision Farming Technologies, by Application, Through 2024
  • Table 44: EMEA Market for Precision Farming Technologies, by Country, Through 2024
  • Table 45: German Market for Precision Farming Technologies, Through 2024
  • Table 46: French Market for Precision Farming Technologies, Through 2024
  • Table 47: Italian Market for Precision Farming Technologies, Through 2024
  • Table 48: U.K. Market for Precision Farming Technologies, Through 2024
  • Table 49: Spanish Market for Precision Farming Technologies, Through 2024
  • Table 50: APAC Market for Precision Farming Technologies, by Component, Through 2024
  • Table 51: APAC Market for Precision Farming Technologies, by Type, Through 2024
  • Table 52: APAC Market for Precision Farming Technologies, by Application, Through 2024
  • Table 53: APAC Market for Precision Farming Technologies, by Country, Through 2024
  • Table 54: Australian Market for Precision Farming Technologies, Through 2024
  • Table 55: Japanese Market for Precision Farming Technologies, Through 2024
  • Table 56: Chinese Market for Precision Farming Technologies, Through 2024
  • Table 57: New Zealand Market for Precision Farming Technologies, Through 2024
  • Table 58: Analysis of Key Geographical Markets for Precision Farming Technologies, by Country/Region
  • Table 59: Key Acquisitions in the Global Precision Farming Technologies Markets, 2018 and 2019
  • Table 60: Funding and Investments in Global Market for Precision Farming Technologies, 2017-2019
  • Table 61: Number of Patents Filed and Obtained by Various Players in the Global Precision Farming Technologies Market, WIPO Data Only, Since 2010

List of Figures

• Summary Figure: Global Market for Precision Farming Technologies, by Component, 2018-2024
  • Figure 1: Global Market for Precision Farming Technologies, 2018-2024
  • Figure 2: Global Population Index and Growth Forecast, as of 2030, 2050 and 2100
  • Figure 3: Increase in Average Daily Food Calories Availability, 2000 and 2050
  • Figure 4: Global Market for Precision Farming Technologies, by Type, 2018-2024
  • Figure 5: Global Market for Guidance System Technologies, 2018-2024
  • Figure 6: Global Market Shares of Precision Farming Technologies, by Type, 2018
  • Figure 7: Global Market Shares of Precision Farming Technologies, by Type, 2019
  • Figure 8: Global Market Shares of Precision Farming Technologies, by Type, 2024
  • Figure 9: Global Market for Remote Sensing and Control Systems, 2018-2024
  • Figure 10: Global Market for Variable Rate Technology, 2018-2024
  • Figure 11: Global Market for Precision Farming Technologies, by Type, 2018-2024
  • Figure 12: Global Market Shares of Precision Farming Technologies, by Component, 2018
  • Figure 13: Global Market Shares of Precision Farming Technologies, by Component, 2019
  • Figure 14: Global Market Shares of Precision Farming Technologies, by Component, 2024
  • Figure 15: Global Market for Precision Farming Hardware Technologies, 2018-2024
  • Figure 16: Global Market Shares of Precision Farming Hardware Technologies, by Type, 2018-2024
  • Figure 17: Global Market for the Automation and Control Systems Segment of Precision Farming Hardware Technologies, 2018-2024
  • Figure 18: Global Market for Sensing and Monitoring Devices Segment of Precision Farming Hardware Technologies, 2018-2024
  • Figure 19: Global Market for Precision Farming Software Technologies, 2018-2024
  • Figure 20: Global Market for Precision Farming Software Technologies, by Type, 2018-2024
  • Figure 21: Global Market for Farm Management Software Segment of Precision Farming Software Technologies, 2018-2024
  • Figure 22: Global Market for Precision Farming Technologies, by Application, 2018-2024
  • Figure 23: Global Market Shares of Precision Farming Technologies, by Application, 2018
  • Figure 24: Global Market Shares of Precision Farming Technologies, by Application, 2019
  • Figure 25: Global Market Shares of Precision Farming Technologies, by Application, 2024
  • Figure 26: Global Market for Yield Monitoring Applications in Precision Farming Technologies, 2018-2024
  • Figure 27: Global Market for Soil Monitoring Applications in Precision Farming Technologies, 2018-2024
  • Figure 28: Global Market for Variable Rate Applications in Precision Farming Technologies, 2018-2024
  • Figure 29: Global Market for Field Mapping Applications in Precision Farming Technologies, 2018-2024
  • Figure 30: Global Market for Software Applications in Precision Farming Technologies, 2018-2024
  • Figure 31: Global Market for Precision Farming Technologies, by Region, 2018-2024
  • Figure 32: Global Market Shares of Precision Farming Technologies, by Region, 2018
  • Figure 33: Global Market Shares of Precision Farming Technologies, by Region, 2019
  • Figure 34: Global Market Shares of Precision Farming Technologies, by Region, 2024
  • Figure 35: North American Market for Precision Farming Technologies, by Component, 2018-2024
  • Figure 36: North American Market for Precision Farming Technologies, by Type, 2018-2024
  • Figure 37: North American Market for Precision Farming Technologies, by Application, 2018-2024
  • Figure 38: North American Market for Precision Farming Technologies, by Country, 2018-2024
  • Figure 39: U.S. Market for Precision Farming Technologies, 2018-2024
  • Figure 40: Canadian Market for Precision Farming Technologies, 2018-2024
  • Figure 41: Mexican Market for Precision Farming Technologies, 2018-2024
  • Figure 42: EMEA Market for Precision Farming Technologies, by Component, 2018-2024
  • Figure 43: EMEA Market for Precision Farming Technologies, by Type, 2018-2024
  • Figure 44: EMEA Market for Precision Farming Technologies, by Application, 2018-2024
  • Figure 45: EMEA Market for Precision Farming Technologies, by Country, 2018-2024
  • Figure 46: German Market for Precision Farming Technologies, 2018-2024
  • Figure 47: French Market for Precision Farming Technologies, 2018-2024
  • Figure 48: Italian Market for Precision Farming Technologies, 2018-2024
  • Figure 49: U.K. Market for Precision Farming Technologies, 2018-2024
  • Figure 50: Spanish Market for Precision Farming Technologies, 2018-2024
  • Figure 51: APAC Market for Precision Farming Technologies, by Component, 2018-2024
  • Figure 52: APAC Market for Precision Farming Technologies, by Type, 2018-2024
  • Figure 53: APAC Market for Precision Farming Technologies, by Application, 2018-2024
  • Figure 54: APAC Market for Precision Farming Technologies, by Country, 2018-2024
  • Figure 55: Australian Market for Precision Farming Technologies, 2018-2024
  • Figure 56: Japanese Market for Precision Farming Technologies, 2018-2024
  • Figure 57: Chinese Market for Precision Farming Technologies, 2018-2024
  • Figure 58: New Zealand Market for Precision Farming Technologies, 2018-2024
  • Figure 59: Number of Patents Filed and Obtained by Various Players in the Global Precision Farming Technologies Market, WIPO Data Only, Since 2010