Precision Farming Equipment Market Outlook 2031
The global precision farming equipment market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of XX% during the forecast period 2023 - 2031. The growth of the market is attributed to changing climate, growing demand for food, increasing adoption of smart technologies in the global agriculture sector, and rising government initiatives to enhance farm efficiency through new technologies.
Precision farming or agriculture is known as satellite farming and site specific crop management. This type of farming is based on the management concept of observing, measuring, and responding to variability in crops. Precision farming uses high-tech tools to improve yield using less resources, while minimizing potential harm to the environment. For instance, GPS tractor guidance helps farmers to improve crop production by reducing overlaps and gaps, while planting, fertilizing, and protecting crops.

Over the last two decades, technological developments such as telematics, robotics, automated hardware, agriculture drones, and variable rate technology improved precision farming. This includes equipment guidance and automatic steering, yield monitoring, variable rate input application, remote sensing, in-field electronic sensors, section and row control on planters, sprayers and fertilizer applicators, and spatial data management systems.
Precision Farming Equipment Market Trends, Drivers, Restraints, and Opportunities
- Improved profitability obtained by the adoption of precision farming technology is fueling the precision farming equipment market.
- Rising demand for digital technologies, which combines the independent sectors of imagery, precision farming and sensors, and farm equipment, propels the precision farming equipment market.
- Restrictions on travel and lockdowns led to disturbances in the supply chain and lack of equipment impedes the market.
- The COVID-19 pandemic disrupted the supply-chain activities, owing to the imposition of lockdown on the manufacturing facilities. This, in turn, hampers the market.
- High adoption of artificial intelligence, big data, and the Internet of Things in the coming years, is projected to create opportunities in the precision farming equipment market.
Scope of Precision Farming Equipment Market Report
The report on the global precision farming equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Precision Farming Equipment Market -Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Soil Tillage Machinery, Planting And Fertilizing Machinery, Crop Harvesting Machinery, and Others), Applications (Grain Planting, Fruit Planting, Vegetable Planting, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Deere, Precision Planting, Raven Industries, Trimble Navigation, AgJunction, AGLeader Technology, IntegriNautics, Schmidt and Sons, and Spraying Systems
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Precision Farming Equipment Market Segment Insights
Soil tillage machinery segment to account for a large market share
Based on types, the precision farming equipment market is segmented into soil tillage machinery, planting and fertilizing machinery, crop harvesting machinery, and others. The soil tillage machinery segment is anticipated to account for a large share of the market, owing to the requirement of tillage planter for hard agricultural land that cannot be shifted using a plough.
This piece of equipment sows seeds in the ground without any prior tillage. Through this type, farming has become more of a science than an art. It has led to improved productivity, efficiency, and sustainable farming, which in turn, is spurring the growth of the market.
Fruit planting segment to account for a key market share
Based on applications, the precision farming equipment market is segmented into grain planting, fruit planting, vegetable planting, and others. High demand for precision farming equipment is backed up by the rising population, globalization of food production, and consumer preference for high-quality foods. The fruit planting segment is expected to account for a key market share, due to rising demand for organic fruits and vegetables.
Market in Asia Pacific to exhibit a high CAGR
On the basis of regions, the precision farming equipment market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a significant market share, owing to use of sophisticated agricultural systems and equipment including steering and steering systems, cameras, displays, and applications for farm management.
Growing implementation of advanced technology in agriculture decreased labour costs, consolidation of farmland, and increased demand for high production in developed agricultural areas, which in turn, led to the growth of the precision farming industry in North America. The market in Asia Pacific is expected to experience substantial development, due to promotion in use of the state-of-the-art precision farming technology to improve productivity.
Segments
The global precision farming equipment market has been segmented on the basis of
Types
- Soil Tillage Machinery
- Planting and Fertilizing Machinery
- Crop Harvesting Machinery
- Other
Applications
- Grain Planting
- Fruit Planting
- Vegetable Planting
- Other
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Deere
- Precision Planting
- Raven Industries
- Trimble Navigation
- AgJunction
- AGLeader Technology
- IntegriNautics
- Schmidt and Sons
- Spraying Systems
Competitive Landscape
Major players of the market are Deere, Precision Planting, Raven Industries, Trimble Navigation, AgJunction, AGLeader Technology, IntegriNautics, Schmidt and Sons, and Spraying Systems.
Companies are focusing on integrating additional features that benefit the organization and their relationship with farmers. Moreover, the companies operating in the market are acquiring start-ups working on precision farming equipment technologies to strengthen their product capabilities.
