PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297837
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297837
Global Precision Agriculture Market - 2023-2030
Market Overview
The Global Precision Agriculture Market reached US$ 7 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 18 billion by 2030. The market is expected to exhibit a CAGR of 12.5% during the forecast period 2023-2030.
Precision agriculture refers to a suite of technologies that may reduce input costs by providing the farm operator with detailed spatial information that can be used to optimize field management practices. Besides reducing the cost of input use, precision agriculture technologies can also increase yields. These benefits derive from the efficient use of yield-monitoring harvesters and yield mapping with Global Positioning Systems (GPS), tractor guidance systems, soil mapping, and variable-rate input application.
The need for increased agricultural productivity, resource efficiency, and environmental sustainability drives the precision agriculture market. Precision agriculture offers benefits such as enhanced yield, reduced costs, and minimized environmental impact. The market is expected to grow as technology advancements and awareness about its benefits expand.
Market Dynamics
Growing Global Population and Demand for Improved Agricultural Productivity Drive Precision Agriculture Market Growth
According to precision agriculture market analysis, the increasing global population and the need for improved agricultural productivity are driving the growth of the precision agriculture market. This market segment holds a significant share of the overall agriculture industry due to its potential to optimize crop production and resource management. By leveraging advanced technologies like GPS, drones, and data analytics, precision agriculture enables farmers to make data-driven decisions and enhance efficiency.
This leads to higher yields and profitability and contributes to sustainability by reducing environmental impact. The precision agriculture market is expected to continue its upward trajectory in terms of market share as the demand for efficient and sustainable farming practices continues to rise.
Cost and Complexity of Machine Learning and AI Hinders Adoption in Precision Agriculture Market
According to precision agriculture market analysis, one key restraint of the global precision agriculture market is the complexity and cost associated with adopting machine learning and artificial intelligence (AI) in precision agriculture practices.
While these technologies offer immense data analysis and decision-making potential, their integration requires significant investment and expertise. Additionally, the lack of standardized protocols and interoperability among precision agriculture systems can impede widespread adoption and hinder market growth.
Precision agriculture market analysis highlights the need for more comprehensive research and development in machine learning and AI applications specific to agriculture to overcome these challenges. Despite these restraints, the precision agriculture market continues to expand, driven by the demand for sustainable and efficient farming practices.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The Global Precision Agriculture Market is segmented based on offering, application, technology and region.
Hardware Offerings Drive Growth in the Global Precision Agriculture Market
The Global Precision Agriculture Market is segmented based on hardware, software, and service offering. The hardware segment comprises various devices and equipment essential for implementing precision agriculture practices.
These hardware components include GPS/GNSS receivers, which provide accurate positioning and navigation data. Sensors, such as soil moisture, weather, and nutrient sensors, enable farmers to monitor and analyze important environmental parameters.
Drones equipped with cameras and multispectral sensors are used for aerial imaging and data collection. Yield monitors help in measuring and analyzing crop yield variability. The hardware segment also includes machinery and equipment used for precision planting, application of fertilizers and pesticides, and harvesting.
These hardware offerings form the foundation of precision agriculture systems, enabling farmers to collect real-time data and make data-driven decisions for optimizing their farming operations.
Geographical Analysis
Asia-Pacific Precision Agriculture Market is Driven by Advanced Technologies and Sustainable Farming Practices
By region, the Global Precision Agriculture Market is segmented into North America, South America, Europe, Asia-Pacific, and Middle-east & Africa.
According to precision agriculture market analysis, the Asia-Pacific is experiencing rapid growth, fueled by the adoption of advanced technologies such as soil and crop sensors, automated steering systems, and climate data analysis. These technologies enable farmers in the region to optimize resource allocation, enhance crop productivity, and mitigate environmental impact.
The precision agriculture market analysis shows that the Asia Pacific precision agriculture market is witnessing significant opportunities with the increasing focus on sustainable farming practices and the need to improve agricultural efficiency. Integrating soil and crop sensors, automated steering systems, and climate data analysis tools is revolutionizing farming practices in the region, driving the growth of precision agriculture.
Competitive Landscape
The major global players include: AGCO Corporation, Agribotix LLC, Agjunction Inc., CropMetrics LLC, Deere and Company, Farmers Edge Inc., Grownetics, Inc., Granular, Inc, Raven Industries, and Trimble, Inc.
Why Purchase the Report?
- To visualize the Global Precision Agriculture Market segmentation based on offering, application, technology and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous Precision Agriculture market-level data points with all segments.
- The PDF report includes a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Precision Agriculture Market Report Would Provide Approximately 61 Tables, 61 Figures And 195 pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Offering
- 3.2. Snippet by Application
- 3.3. Snippet by Technology
- 3.4. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Post COVID-19 and Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Offering
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 7.1.2. Market Attractiveness Index, By Offering
- 7.2. Software*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Hardware
- 7.4. Services
8. By Application
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2. Market Attractiveness Index, By Application
- 8.2. Crop Scouting*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Field Mapping
- 8.4. Precision Irrigation
- 8.5. Irrigation Management
- 8.6. Weather Tracking & Forecasting
- 8.7. Yield Monitoring
- 8.8. Others
9. By Technology
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 9.1.2. Market Attractiveness Index, By Technology
- 9.2. Remote Sensing*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Guidance systems
- 9.4. Variable Rate Technology (VRT)
10. By Region
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2. Market Attractiveness Index, By Region
- 10.2. North America*
- 10.2.1. Introduction
- 10.2.2. Key Region-Specific Dynamics
- 10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.2.6.1. The U.S.
- 10.2.6.2. Canada
- 10.2.6.3. Mexico
- 10.3. Europe
- 10.3.1. Introduction
- 10.3.2. Key Region-Specific Dynamics
- 10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.3.6.1. Germany
- 10.3.6.2. The U.K
- 10.3.6.3. France
- 10.3.6.4. Italy
- 10.3.6.5. Spain
- 10.3.6.6. Rest of Europe
- 10.4. South America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.4.6.1. Brazil
- 10.4.6.2. Argentina
- 10.4.6.3. Rest of South America
- 10.5. Asia-Pacific
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.5.6.1. China
- 10.5.6.2. India
- 10.5.6.3. Japan
- 10.5.6.4. Australia
- 10.5.6.5. Rest of Asia-Pacific
- 10.6. Middle East and Africa
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11. Competitive Landscape
- 11.1. Competitive Scenario
- 11.2. Market Positioning/Share Analysis
- 11.3. Mergers and Acquisitions Analysis
12. Company Profiles
- 12.1. AGCO Corporation
- 12.1.1. Company Overview
- 12.1.2. Grade Portfolio and Description
- 12.1.3. Financial Overview
- 12.1.4. Key Developments
- 12.2. Agribotix LLC
- 12.3. Agjunction Inc
- 12.4. CropMetrics LLC
- 12.5. Deere and Company
- 12.6. Farmers Edge Inc
- 12.7. Grownetics, Inc
- 12.8. Granular, Inc
- 12.9. Raven Industries
- 12.10. Trimble, Inc
LIST NOT EXHAUSTIVE
13. Appendix
- 13.1. About Us and Services
- 13.2. Contact Us
