Precision Farming Market Analysis, Revenue Share, Company Profiles, Launches, & Forecast Till 2030
The global precision farming market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing automation in the agriculture sector, growing demand for food due to increasing global population, and rapid integration of the Internet of Things (IoT) and advanced analytics for efficient farm management are some key factors expected to drive market revenue growth over the forecast period. The report offers an overview about recent trends and developments taking place in the Precision Farming market. Detailed insights on market size, revenue growth, market drivers, restraints, growth opportunities and challenges is provided in the report. Technological advancements in farming techniques, growing adoption of precision farming and air seeding techniques are some key factors boosting global Precision Farming market growth.
Agriculture is one of the fastest growing sector across the globe due to increasing demand for good quality food and constantly growing population. The agricultural industry is rapidly gaining popularity over the recent years and has contributed to overall economic growth. Increasing adoption of organic products and fertilizers, rising environmental concerns and water shortage, availability of modern techniques to boost crop yield, rapid integration of ICT, and aerial seeding through drones are some significant factors fueling revenue market growth. In addition, increasing investments in research and development activities and government initiatives to support agricultural sector and funding from various public and private sectors is fueling market growth.
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The global Precision Farming market is quite competitive and comprises various key players at global and regional levels. Major players are focusing on adopting various strategies such as mergers and acquisitions, partnerships and joint ventures to establish market footing. These are investing in R&D to develop enhanced products and devices, modern farming systems and other techniques to boost farm and livestock productivity. Major companies operating in the global Precision Farming market are Ag Leader Technology, AgJunction, Inc., CropMetrics LLC, Trimble, Inc., AGCO Corporation, Raven Industries Inc., Deere & Company among others.
The data presented in the report is obtained through authentic sources and is verified by professionals and experts in the industry. The report also provides SWOT analysis and Porter’s five force analysis to help user understand about current market insights. The report also offers detailed insights about market segmentation based on type, and application.
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Precision Farming Market Segmentation:
- Automation & Control Systems
- Sensing Devices
- Antennas & Access Points
- System Integration & Consulting
- Maintenance & Support
- Managed Services
- Assisted Professional Services
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking & Forecasting
- Variable Rate Application
- Inventory Management
- Financial Management
The report also focuses on industry development in 5 major regions in the world including North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Outlook of Precision Farming Market:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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