Precision Agriculture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region

Description

The agricultural sector has undergone a robust digital transformation, revolutionizing the way farmers perform routine tasks and complex activities. With the adoption of technologies such as the Internet of Things (IoT), artificial intelligence (AI), mobile phones, and data analytics, farmers have been able to increase production while reducing costs. This has led to the rise in popularity of precision agriculture, which optimizes crop yields with less physical effort on the farmer's end. Precision agriculture utilizes tools like geomapping, remote sensing, climate monitoring systems, agricultural drones, and guidance software to help farmers perform tasks more efficiently and accurately. These tools encompass pre and post-processing analysis, information mapping, display controller interfacing, farm accounting, and planning. As a result, the smart agriculture sector is poised for significant growth in the coming years, driving the precision agriculture market to maturity.

Growing Demand for Sustainable and Economical Farming Drives Precision Agriculture Market Expansion

The global push to harness emerging technologies for sustainable development goals has propelled the farming industry to adopt innovative solutions like precision agriculture tools. The widespread usage of precision agriculture tools enables farmers to produce more crops while minimizing negative impacts on the environment. These tools promote sustainability through efficient use of water, land, soil, pesticides, and fertilizers, providing economic returns. Precision agriculture technologies have the potential to significantly improve agricultural productivity, incorporating better management practices and increasing crop yields. These benefits contribute to the growth of the precision agriculture market, creating fresh revenue opportunities on a global scale.

Smartphone Integration with Agriculture Technology Unleashes Growth Prospects for Precision Agriculture Market

Smartphones have become indispensable in the agricultural sector, facilitating agile, seamless, and proactive operations. Various applications compatible with advanced smartphone technology allow farmers to remotely monitor their fields and store data in the cloud, enabling real-time informed decision-making. Farmers can stay informed about climatic changes and other environmental and local factors that may impact production and distribution plans. Integration of smartphone technology with precision agriculture tools is essential and expected to improve farmer satisfaction in terms of production, output, and efficiency. This integration opens transformative opportunities in the precision agriculture market.

North America Leads the Precision Agriculture Market with Robust Tech Adoption

Precision agriculture has witnessed strong growth in developed economies, particularly in North America, due to early technology adoption and supportive government policies. Governments in the region have encouraged the use of emerging technologies in the agriculture sector to meet growing food demand, promoting precision agriculture among farmers. This is expected to drive the demand for precision agriculture technologies in North America and unleash novel growth opportunities in the precision agriculture market during the forecast period.

Key Market Players

Some of the key players in the precision agriculture market include: Trimble Inc, Deere & Company, Raven Industries, Granular AG, Fairport Farm Software, Teejet Technologies, and AGCO Corporation.

1. Executive Summary

1.1. Global Precision Agriculture Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Pre-covid and Post-covid Scenario
- 2.5.2. Supply Impact
- 2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Global Precision Agriculture Market Outlook, 2018 - 2030

3.1. Global Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 3.1.1. Key Highlights
  - 3.1.1.1. Drones and UAVs
  - 3.1.1.2. Remote Sensing
  - 3.1.1.3. Global Positioning System (GPS)
  - 3.1.1.4. Geographic Information System (GIS)
  - 3.1.1.5. Variable Rate Technology (VRT)
  - 3.1.1.6. Misc.
3.2. Global Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 3.2.1. Key Highlights
  - 3.2.1.1. Hardware
  - 3.2.1.2. Software
  - 3.2.1.3. Services
3.3. Global Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 3.3.1. Key Highlights
  - 3.3.1.1. Yield Monitoring
  - 3.3.1.2. Soil Monitoring
  - 3.3.1.3. Seed & Fertilizer Management
  - 3.3.1.4. Crop Scouting
  - 3.3.1.5. Irrigation Management
  - 3.3.1.6. Farm Labor Management
  - 3.3.1.7. Field Mapping
- 3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Precision Agriculture Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa
- 3.4.2. BPS Analysis/Market Attractiveness Analysis

4. North America Precision Agriculture Market Outlook, 2018 - 2030

4.1. North America Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. Drones and UAVs
  - 4.1.1.2. Remote Sensing
  - 4.1.1.3. Global Positioning System (GPS)
  - 4.1.1.4. Geographic Information System (GIS)
  - 4.1.1.5. Variable Rate Technology (VRT)
  - 4.1.1.6. Misc.
4.2. North America Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Hardware
  - 4.2.1.2. Software
  - 4.2.1.3. Services
4.3. North America Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. Yield Monitoring
  - 4.3.1.2. Soil Monitoring
  - 4.3.1.3. Seed & Fertilizer Management
  - 4.3.1.4. Crop Scouting
  - 4.3.1.5. Irrigation Management
  - 4.3.1.6. Farm Labor Management
  - 4.3.1.7. Field Mapping
4.4. North America Precision Agriculture Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S.
  - 4.4.1.2. Canada
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Precision Agriculture Market Outlook, 2018 - 2030

5.1. Europe Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Drones and UAVs
  - 5.1.1.2. Remote Sensing
  - 5.1.1.3. Global Positioning System (GPS)
  - 5.1.1.4. Geographic Information System (GIS)
  - 5.1.1.5. Variable Rate Technology (VRT)
  - 5.1.1.6. Misc.
5.2. Europe Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Hardware
  - 5.2.1.2. Software
  - 5.2.1.3. Services
5.3. Europe Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Yield Monitoring
  - 5.3.1.2. Soil Monitoring
  - 5.3.1.3. Seed & Fertilizer Management
  - 5.3.1.4. Crop Scouting
  - 5.3.1.5. Irrigation Management
  - 5.3.1.6. Farm Labor Management
  - 5.3.1.7. Field Mapping
5.4. Europe Precision Agriculture Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany
  - 5.4.1.2. France
  - 5.4.1.3. U.K.
  - 5.4.1.4. Italy
  - 5.4.1.5. Spain
  - 5.4.1.6. Russia
  - 5.4.1.7. Rest of Europe
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Precision Agriculture Market Outlook, 2018 - 2030

6.1. Asia Pacific Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Drones and UAVs
  - 6.1.1.2. Remote Sensing
  - 6.1.1.3. Global Positioning System (GPS)
  - 6.1.1.4. Geographic Information System (GIS)
  - 6.1.1.5. Variable Rate Technology (VRT)
  - 6.1.1.6. Misc.
6.2. Asia Pacific Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Hardware
  - 6.2.1.2. Software
  - 6.2.1.3. Services
6.3. Asia Pacific Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Yield Monitoring
  - 6.3.1.2. Soil Monitoring
  - 6.3.1.3. Seed & Fertilizer Management
  - 6.3.1.4. Crop Scouting
  - 6.3.1.5. Irrigation Management
  - 6.3.1.6. Farm Labor Management
  - 6.3.1.7. Field Mapping
6.4. Asia Pacific Precision Agriculture Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. China
  - 6.4.1.2. Japan
  - 6.4.1.3. South Korea
  - 6.4.1.4. India
  - 6.4.1.5. Southeast Asia
  - 6.4.1.6. Rest of Asia Pacific
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Precision Agriculture Market Outlook, 2018 - 2030

7.1. Latin America Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Drones and UAVs
  - 7.1.1.2. Remote Sensing
  - 7.1.1.3. Global Positioning System (GPS)
  - 7.1.1.4. Geographic Information System (GIS)
  - 7.1.1.5. Variable Rate Technology (VRT)
  - 7.1.1.6. Misc.
7.2. Latin America Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Hardware
  - 7.2.1.2. Software
  - 7.2.1.3. Services
7.3. Latin America Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Yield Monitoring
  - 7.3.1.2. Soil Monitoring
  - 7.3.1.3. Seed & Fertilizer Management
  - 7.3.1.4. Crop Scouting
  - 7.3.1.5. Irrigation Management
  - 7.3.1.6. Farm Labor Management
  - 7.3.1.7. Field Mapping
7.4. Latin America Precision Agriculture Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil
  - 7.4.1.2. Mexico
  - 7.4.1.3. Rest of Latin America
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Precision Agriculture Market Outlook, 2018 - 2030

8.1. Middle East & Africa Precision Agriculture Market Outlook, by Technology, Value (US$ Mn), 2018 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Drones and UAVs
  - 8.1.1.2. Remote Sensing
  - 8.1.1.3. Global Positioning System (GPS)
  - 8.1.1.4. Geographic Information System (GIS)
  - 8.1.1.5. Variable Rate Technology (VRT)
  - 8.1.1.6. Misc.
8.2. Middle East & Africa Precision Agriculture Market Outlook, by Component, Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Hardware
  - 8.2.1.2. Software
  - 8.2.1.3. Services
8.3. Middle East & Africa Precision Agriculture Market Outlook, by Application Type, Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Yield Monitoring
  - 8.3.1.2. Soil Monitoring
  - 8.3.1.3. Seed & Fertilizer Management
  - 8.3.1.4. Crop Scouting
  - 8.3.1.5. Irrigation Management
  - 8.3.1.6. Farm Labor Management
  - 8.3.1.7. Field Mapping
8.4. Middle East & Africa Precision Agriculture Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC
  - 8.4.1.2. South Africa
  - 8.4.1.3. Rest of Middle East & Africa
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2022
9.2. Competitive Dashboard
9.3. Company Profiles
- 9.3.1. Bayer AG
  - 9.3.1.1. Company Overview
  - 9.3.1.2. Product Portfolio
  - 9.3.1.3. Financial Overview
  - 9.3.1.4. Business Strategies and Development
- 9.3.2. BASF SE
- 9.3.3. Yara International
- 9.3.4. FMC
- 9.3.5. John Deere
- 9.3.6. AGCO Corporation
- 9.3.7. AgSense LLC
- 9.3.8. Case IH Agriculture
- 9.3.9. Raven Industries Inc.
- 9.3.10. Gamaya
- 9.3.11. Kubota Corp.
- 9.3.12. Trimble Inc.
- 9.3.13. Infarm GmbH

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations