AGRICULTURE
Global Precision Farming Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Precision Farming Market, By Offering (Hardware, Software, and Services), Technology (Guidance Technology, Remote Sensing Technology, and Variable Rate Technology), Application (Yield Monitoring, Crop Scouting, Field Mapping, Variable Rate Application, Weather Tracking and Forecasting, Inventory Management, Farm Labour Management, Financial Management, and Others), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global precision farming market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Precision farming, also known as precision agriculture or smart farming, refers to the use of advanced technologies, data analytics, and management practices to optimize agricultural production. It involves collecting and analyzing data on various factors such as soil conditions, weather patterns, crop health, and equipment performance to make informed decisions and maximize efficiency.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Advancements in sensor technology
- Unmanned Aerial Vehicles (UAVs) and remote sensing
RESTRAINTS
- Lack of technical expertise
- Infrastructure limitations
OPPORTUNITIES
- Expansion of digital farming platforms
- Emerging markets and smallholder farmers
CHALLENGES
- High initial investment
- Lack of connectivity in rural areas
SEGMENTATION
MARKET SEGMENTATION
- Offering
- Hardware
- Automation and Control Systems
- Displays
- Guidance and Steering Systems
- GPS / GNSS Devices
- Drones / UAV's
- Irrigation Controllers
- Handheld mobile devices / Handheld controllers
- Flow and Application control devices
- Others
- Sensing and Monitoring devices
- Yield Monitors
- Soil sensors
- Moisture Sensors
- Temperature Sensors
- Nutrient Sensors
- Water Sensors
- Climate Sensors
- Software
- Local / Web based Software
- Cloud Based Software
- Services
- System Integration and Consulting Services
- Managed Services
- Farm operation services
- Data Services
- Analytics Services
- Connectivity Services
- Assisted Professional Services
- Supply chain management Services
- Climate Information Services
- Others
- Maintenance and Support Services
- Technology
- Guidance Technology
- GPS/GNSS Based Guidance Technology
- GIS Based Guidance Technology
- Remote Sensing Technology
- Hand-Held or Ground Based Sensing
- Satellite or Aerial Sensing
- Variable Rate Technology
- Map-Based
- Sensor-Based
- Application
- Yield Monitoring
- On-Farm
- Off-Farm
- Crop Scouting
- Pre-Seeding
- Post-Seeding
- Crop Monitoring
- Field Mapping
- Boundary Mapping
- Drainage Mapping
- Variable Rate Application
- Precision Irrigation
- Precision Seeding
- Precision Fertilization
- Nitrogen VRA
- Phosphorous VRA
- Lime VRA
- Others
- Weather Tracking and Forecasting
- Inventory Management
- Farm Labour Management
- Financial Management
- Others
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, and key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Deere & Company
- Trimble Inc.
- AGCO Corporation
- Raven Industries
- AGJunction LLC
- AG Leader Technology
- Ageable Aerial Systems Inc.
- Topcon
- Climate LLC
- Teejet Technologies
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Precision Farming Market, by Offering
- 3.2 Global Precision Farming Market, by Technology
- 3.3 Global Precision Farming Market, by Application
- 3.4 Global Precision Farming Market, by Geography
- 3.5 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Rapid expansion of autonomous farming solutions
- 5.1.2 Focus on sustainability and climate resilience
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Advancements in sensor technology
- 5.2.2 Unmanned Aerial Vehicles (UAVs) and remote sensing
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Lack of technical expertise
- 5.3.2 Infrastructure limitations
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion of digital farming platforms
- 5.4.2 Emerging markets and smallholder farmers
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 High initial investment
- 5.5.2 Lack of connectivity in rural areas
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL PRECISION FARMING MARKET, BY OFFERING
- 6.1 Offering Summary
- 6.2 Market Attractive Index
- 6.3 Global Precision Farming Market, by Offering (2019-2032)
- SECTION 7 - GLOBAL PRECISION FARMING MARKET, BY TECHNOLOGY
- 7.1 Technology Summary
- 7.2 Market Attractive Index
- 7.3 Global Precision Farming Market, by Technology (2019-2032)
- SECTION 8 - GLOBAL PRECISION FARMING MARKET, BY APPLICATION
- 8.1 Application Summary
- 8.2 Market Attractive Index
- 8.3 Global Precision Farming Market, by Application (2019-2032)
- SECTION 9 - GLOBAL PRECISION FARMING MARKET, BY GEOGRAPHY
- 9.1 Regional Summary
- 9.2 Market Attractive Index
- 9.3 Global Precision Farming Market, by Geography (2019-2032)
- SECTION 10 - NORTH AMERICA PRECISION FARMING MARKET
- 10.1 North America Summary
- 10.2 Market Attractive Index
- 10.3 North America Precision Farming Market, by Offering (2019-2032)
- 10.4 North America Precision Farming Market, by Technology (2019-2032)
- 10.5 North America Precision Farming Market, by Application (2019-2032)
- 10.6 North America Precision Farming Market, by Country (2019-2032)
- 10.6.1 U.S.
- 10.6.2 Canada
- 10.6.3 Mexico
- 10.6.4 Rest of North America
- SECTION 11 - EUROPE PRECISION FARMING MARKET
- 11.1 Europe Summary
- 11.2 Market Attractive Index
- 11.3 Europe Precision Farming Market, by Offering (2019-2032)
- 11.4 Europe Precision Farming Market, by Technology (2019-2032)
- 11.5 Europe Precision Farming Market, by Application (2019-2032)
- 11.6 Europe Precision Farming Market, by Country (2019-2032)
- 11.6.1 Germany
- 11.6.2 U.K.
- 11.6.3 France
- 11.6.4 Italy
- 11.6.5 Spain
- 11.6.6 Russia
- 11.6.7 The Netherlands
- 11.6.8 Belgium
- 11.6.9 Turkey
- 11.6.10 Rest of Europe
- SECTION 12 - ASIA-PACIFIC PRECISION FARMING MARKET
- 12.1 Asia-Pacific Summary
- 12.2 Market Attractive Index
- 12.3 Asia-Pacific Precision Farming Market, by Offering (2019-2032)
- 12.4 Asia-Pacific Precision Farming Market, by Technology (2019-2032)
- 12.5 Asia-Pacific Precision Farming Market, by Application (2019-2032)
- 12.6 Asia-Pacific Precision Farming Market, by Country (2019-2032)
- 12.6.1 China
- 12.6.2 India
- 12.6.3 Japan
- 12.6.4 South Korea
- 12.6.5 Singapore
- 12.6.6 Malaysia
- 12.6.7 Australia
- 12.6.8 Thailand
- 12.6.9 Philippines
- 12.6.10 Rest of Asia-Pacific
- SECTION 13 - SOUTH AMERICA PRECISION FARMING MARKET
- 13.1 South America Summary
- 13.2 Market Attractive Index
- 13.3 South America Precision Farming Market, by Offering (2019-2032)
- 13.4 South America Precision Farming Market, by Technology (2019-2032)
- 13.5 South America Precision Farming Market, by Application (2019-2032)
- 13.6 South America Precision Farming Market, by Country (2019-2032)
- 13.6.1 Brazil
- 13.6.2 Argentina
- 13.6.3 Chile
- 13.6.4 Colombia
- 13.6.5 Rest of South America
- SECTION 14 - MIDDLE EAST AND AFRICA PRECISION FARMING MARKET
- 14.1 Middle East and Africa Summary
- 14.2 Market Attractive Index
- 14.3 Middle East and Africa Precision Farming Market, by Offering (2019-2032)
- 14.4 Middle East and Africa Precision Farming Market, by Technology (2019-2032)
- 14.5 Middle East and Africa Precision Farming Market, by Application (2019-2032)
- 14.6 Middle East and Africa Precision Farming Market, by Country (2019-2032)
- 14.6.1 Kingdom of Saudi Arabia
- 14.6.2 South Africa
- 14.6.3 U.A.E.
- 14.6.4 Egypt
- 14.6.5 Rest of Middle East and Africa
- SECTION 15 - COMPANY SHARE ANALYSIS
- 15.1 Global Precision Farming Market, Company Share Analysis
- 15.2 North America Precision Farming Market, Company Share Analysis
- 15.3 Europe Precision Farming Market, Company Share Analysis
- 15.4 Asia-Pacific Precision Farming Market, Company Share Analysis
- SECTION 16 - COMPANY PROFILES
- 16.1 Deere & Company
- 16.1.1 Company Snapshot
- 16.1.2 Financial Overview
- 16.1.3 Product Portfolio
- 16.1.4 Recent Developments
- 16.2 Trimble Inc.
- 16.2.1 Company Snapshot
- 16.2.2 Financial Overview
- 16.2.3 Product Portfolio
- 16.2.4 Recent Developments
- 16.3 AGCO Corporation
- 16.3.1 Company Snapshot
- 16.3.2 Financial Overview
- 16.3.3 Product Portfolio
- 16.3.4 Recent Developments
- 16.4 Raven Industries
- 16.4.1 Company Snapshot
- 16.4.2 Financial Overview
- 16.4.3 Product Portfolio
- 16.4.4 Recent Developments
- 16.5 AGJunction LLC
- 16.5.1 Company Snapshot
- 16.5.2 Financial Overview
- 16.5.3 Product Portfolio
- 16.5.4 Recent Developments
- 16.6 AG Leader Technology
- 16.6.1 Company Snapshot
- 16.6.2 Financial Overview
- 16.6.3 Product Portfolio
- 16.6.4 Recent Developments
- 16.7 Ageable Aerial Systems Inc.
- 16.7.1 Company Snapshot
- 16.7.2 Financial Overview
- 16.7.3 Product Portfolio
- 16.7.4 Recent Developments
- 16.8 Topcon
- 16.8.1 Company Snapshot
- 16.8.2 Financial Overview
- 16.8.3 Product Portfolio
- 16.8.4 Recent Developments
- 16.9 Climate LLC
- 16.9.1 Company Snapshot
- 16.9.2 Financial Overview
- 16.9.3 Product Portfolio
- 16.9.4 Recent Developments
- 16.10 Teejet Technologies
- 16.10.1 Company Snapshot
- 16.10.2 Financial Overview
- 16.10.3 Product Portfolio
- 16.10.4 Recent Developments
- SECTION 17 - RELATED REPORTS
- SECTION 18 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.