PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1758241
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1758241
The precision farming market is expected to grow from USD 11.38 billion in 2025 to USD 21.45 billion by 2032, at a CAGR of 9.5%. The growing emphasis on sustainable agricultural practices is accelerating the precision farming market's growth by promoting efficient resource use and reducing environmental impact. Precision farming technologies, such as IoT sensors, drones, and AI-driven analytics, enable farmers to optimize water, fertilizer, and pesticide usage, minimizing waste and soil degradation. This aligns with global sustainability goals and regulatory pressures to lower carbon footprints in agriculture. Additionally, consumer demand for eco-friendly and organic produce encourages farmers to adopt these technologies, enhancing yields while preserving ecosystems. As a result, the need for sustainable solutions drives widespread adoption, fueling the precision farming market's expansion across regions.
Scope of the Report | |
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Years Considered for the Study | 2021-2032 |
Base Year | 2024 |
Forecast Period | 2025-2032 |
Units Considered | Value (USD Billion) |
Segments | By offering, technology, application, and region |
Regions covered | North America, Europe, APAC, RoW |
"Guidance technology accounted for the largest market share in 2024"
Guidance technology accounted for the largest share of the precision farming market in 2024 due to its critical role in enhancing operational efficiency and reducing labor costs. Technologies like GPS, auto-steering systems, and GNSS enable precise navigation and field mapping, allowing farmers to optimize planting, harvesting, and field operations with minimal overlap or waste. Key drivers include the rising adoption of automated machinery, increasing farm sizes, and the need for higher productivity amid labor shortages. Additionally, government subsidies for smart agriculture and the push for sustainable practices further boost demand.
"Variable rate application is projected to register the second-highest CAGR during the forecast period"
Variable rate application (VRA) recorded the second-highest CAGR in the precision farming market during the forecast period due to its ability to optimize resource use and boost crop yields. VRA allows farmers to apply fertilizers, pesticides, and water at varying rates across a field, tailoring inputs to specific soil and crop needs. Key drivers include the rising adoption of data analytics and IoT for real-time field monitoring, increasing demand for sustainable farming practices, and advancements in sensor technology that enhance application precision. Additionally, the need to reduce input costs and environmental impact while meeting food demand fuels the rapid adoption of VRAin precision agriculture.
"China is estimated to lead growth in Asia Pacific precision farming market during the forecast period"
China is set to lead growth in the Asia Pacific precision farming market due to its robust government support, including subsidies and policies promoting smart agriculture to ensure food security for its massive population. Rapid urbanization and rising food demand drive the need for efficient farming, pushing farmers to adopt advanced technologies like IoT, AI, and drones for better crop management. Additionally, China's focus on technological innovation, supported by heavy investments in agricultural R&D, accelerates the integration of precision farming tools. The combination of government initiatives, pressing food security needs, and widespread tech adoption position China as a frontrunner in the region's precision farming market growth.
Breakdown of Primaries
A variety of executives from key organizations operating in the precision farming market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.
The precision farming market is dominated by globally established players such as Deere & Company (US), AGCO Corporation (US), CNH Industrial N.V. (Netherlands), Ag Leader Technology (US), AgEagle Aerial Systems Inc (US), Topcon Corporation (Japan), Bayer AG (Climate LLC.) (Germany), TeeJet Technologies (US), Hexagon AB (Sweden), Kubota Corporation (Japan), Trimble Inc. (US), Abaco S.p.A. (Italy), Cropx Inc. (Israel), Farmers Edge Inc. (Canada), Grownetics (US), Cropin Technology Solutions Private Limited (India), Gamaya (Switzerland), Dickey-John (US), Telus (Canada), Harxon Corporation (China), Aeris (US), Esri (US), Farmdok GmbH (Austria), Yara (Norway), and Claas KGaA mbH (Germany). The study includes an in-depth competitive analysis of these key players in the precision farming market, with their company profiles, recent developments, and key market strategies.
Study Coverage
The report segments the precision farming market and forecasts its size by offering, technology, application, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, Asia Pacific, and RoW. A supply chain analysis has been included in the report, along with the key players and their competitive analysis of the precision farming ecosystem.
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