Precision Farming Market by Technologies (Drones & UAVs, Guidance Systems [Global Information System and Global Satellite Navigation System & Global Positioning System], Variable-rate Technology [Variable Rate Pesticide, Variable Rate Fertilizer, and Variable Rate Seeding], Remote Sensing, and Others), Components (Services, Software, Hardware, and Others), Applications (Crop Scouting, Yield Monitoring, Soil Monitoring, Field Mapping, Variable Rate Application, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa)–Global Industry Analysis, Growth, Shares, Size, Trends, and Forecast 2021 – 2028
The precision farming market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to increasing demand for high yield crops, rapid changes in climate, and rising demand for food.
In a farming management, the concept based on responding to inter & intra-field variability, observing, and measuring in crops is known as precision agriculture also called as satellite farming.
The covid-19 pandemic affected the demand and supply of the precision farming market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increased demand for precision farming is projected to boost the market.
- Increasing research funding for agriculture sector is the major factor fueling the market.
- Less adaptation rate of precision farming is projected to restrict the market expansion during the forecast period.
- Lack of awareness about precision farming among farmers is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in precision farming market is projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the precision farming market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Precision Farming Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018-2019 |
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Forecast Period |
2021-2028 |
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Segmentation |
Technologies (Drones & UAVs, Guidance Systems [Global Information System and Global Satellite Navigation System & Global Positioning System], Variable-rate Technology [Variable Rate Pesticide, Variable Rate Fertilizer, and Variable Rate Seeding], Remote Sensing, and Others), Components (Services, Software, Hardware, and Others), Applications (Crop Scouting, Yield Monitoring, Soil Monitoring, Field Mapping, Variable Rate Application, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
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 |
Yara International ASA; Land O’lakes Inc.; Lindsay Corp.; Tee-Jet Technologies; John Deere; AGCO Corp.; DICKEY-john Corp.; BASF SE; Topcon Precision Agriculture; Ag Junction Inc; and Raven Industries Inc. |
Market Segment Insights
The guidance systems segment accounts for a key share of the market
Based on technologies, the precision farming market is fragmented into drones & UAVS, guidance systems, variable-rate technology, remote sensing, and others. The guidance systems are sub-segmented into global information system and global satellite navigation system & global positioning system. The variable-rate technology segment is sub-segmented into variable rate pesticide, variable rate fertilizer, and variable rate seeding. The guidance systems segment accounts for a key share of the market. Growth of the market is attributed to increasing population and rising crop production. However, the variable-rate technology segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing adoption of advanced technologies in agriculture sector and increasing government initiatives to improve farmer’s efficiency.
The hardware segment accounts for a key share of the market
On the basis of components, the market is segmented into services, software, hardware, and others. The hardware segment accounts for a key share of the market. Growth of the market is attributed to increasing supply of quality products and growing demand for food by consumers & food processors. The software segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing availability of arable land, rapidly changing agriculture sector due to crop protection solutions offered by precision applications, and increased research funding for agriculture sector.
The soil monitoring segment accounts for a key share of the market
Based on applications, the market is divided into crop scouting, yield monitoring, soil monitoring, field mapping, variable rate application, and others. The soil monitoring segment accounts for a key share of the market. Growth of the market is attributed to minimum investment in infrastructure, increasing awareness about the benefits of precision agriculture, and rapid innovation in technologies. The yield monitoring segment is anticipated to expand at a rapid pace during the forecast period due to factors such as minimum use of resources, rapidly decreasing skilled labors, and increasing crop production.
The US is anticipated to hold key market share
On the basis of region, the precision farming market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to rapid economic growth in region and encouragement from government organizations. The market of North America is estimated to hold a key market share due to increasing population, rising demand for premium quality crops, and presence of major market players.
Segments
Segments Covered in the ReportThe precision farming market has been segmented on the basis of
Technologies
- Drones & UAVS
- Guidance Systems
- Global Information System
- Global Satellite Navigation System & Global Positioning System
- Variable-rate Technology
- Variable Rate Pesticide
- Variable Rate Fertilizer
- Variable Rate Seeding
- Remote Sensing
- Others
- Services
- Software
- Hardware
- Others
- Crop Scouting
- Yield Monitoring
- Soil Monitoring
- Field Mapping
- Variable Rate Application
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Yara International ASA
- Land O’lakes Inc.
- Lindsay Corp.
- Tee-Jet Technologies
- John Deere
- AGCO Corp.
- DICKEY-john Corp.
- BASF SE
- Topcon Precision Agriculture
- Ag Junction Inc
- Raven Industries Inc.
Competitive Landscape
Key players competing in the precision farming market include Yara International ASA; Land O’lakes Inc.; Lindsay Corp.; Tee-Jet Technologies; John Deere; AGCO Corp.; DICKEY-john Corp.; BASF SE; Topcon Precision Agriculture; Ag Junction Inc; and Raven Industries Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Precision Farming Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Precision Farming Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Precision Farming Market - Supply Chain
4.5. Global Precision Farming Market Forecast
4.5.1. Precision Farming Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Precision Farming Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Precision Farming Market Absolute $ Opportunity
5. Global Precision Farming Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Precision Farming Market Size and Volume Forecast by Applications
5.3.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Precision Farming Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Precision Farming Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Precision Farming Demand Share Forecast, 2019-2026
7. North America Precision Farming Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Precision Farming Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Precision Farming Market Size and Volume Forecast by Applications
7.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Precision Farming Demand Share Forecast, 2019-2026
8. Latin America Precision Farming Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Precision Farming Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Precision Farming Market Size and Volume Forecast by Applications
8.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Precision Farming Demand Share Forecast, 2019-2026
9. Europe Precision Farming Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Precision Farming Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Precision Farming Market Size and Volume Forecast by Applications
9.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Precision Farming Demand Share Forecast, 2019-2026
10. Asia Pacific Precision Farming Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Precision Farming Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Precision Farming Market Size and Volume Forecast by Applications
10.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Precision Farming Demand Share Forecast, 2019-2026
11. Middle East & Africa Precision Farming Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Precision Farming Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Precision Farming Market Size and Volume Forecast by Applications
11.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Precision Farming Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Precision Farming Market: Market Share Analysis
12.2. Precision Farming Distributors and Customers
12.3. Precision Farming Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Yara International ASA Land O’lakes Inc. Lindsay Corp. Tee-Jet Technologies John Deere AGCO Corp.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Precision Farming Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Precision Farming Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Precision Farming Market - Supply Chain
4.5. Global Precision Farming Market Forecast
4.5.1. Precision Farming Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Precision Farming Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Precision Farming Market Absolute $ Opportunity
5. Global Precision Farming Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Precision Farming Market Size and Volume Forecast by Applications
5.3.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Precision Farming Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Precision Farming Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Precision Farming Demand Share Forecast, 2019-2026
7. North America Precision Farming Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Precision Farming Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Precision Farming Market Size and Volume Forecast by Applications
7.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Precision Farming Demand Share Forecast, 2019-2026
8. Latin America Precision Farming Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Precision Farming Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Precision Farming Market Size and Volume Forecast by Applications
8.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Precision Farming Demand Share Forecast, 2019-2026
9. Europe Precision Farming Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Precision Farming Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Precision Farming Market Size and Volume Forecast by Applications
9.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Precision Farming Demand Share Forecast, 2019-2026
10. Asia Pacific Precision Farming Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Precision Farming Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Precision Farming Market Size and Volume Forecast by Applications
10.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Precision Farming Demand Share Forecast, 2019-2026
11. Middle East & Africa Precision Farming Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Precision Farming Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Precision Farming Market Size and Volume Forecast by Applications
11.4.1. Crop Scouting Yield Monitoring Soil Monitoring Field Mapping Variable Rate Application Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Precision Farming Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Precision Farming Market: Market Share Analysis
12.2. Precision Farming Distributors and Customers
12.3. Precision Farming Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Yara International ASA Land O’lakes Inc. Lindsay Corp. Tee-Jet Technologies John Deere AGCO Corp.
Segments Covered in the Report
The precision farming market has been segmented on the basis of
Technologies
The precision farming market has been segmented on the basis of
Technologies
- Drones & UAVS
- Guidance Systems
- Global Information System
- Global Satellite Navigation System & Global Positioning System
- Variable-rate Technology
- Variable Rate Pesticide
- Variable Rate Fertilizer
- Variable Rate Seeding
- Remote Sensing
- Others
- Services
- Software
- Hardware
- Others
- Crop Scouting
- Yield Monitoring
- Soil Monitoring
- Field Mapping
- Variable Rate Application
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Yara International ASA
- Land O’lakes Inc.
- Lindsay Corp.
- Tee-Jet Technologies
- John Deere
- AGCO Corp.
- DICKEY-john Corp.
- BASF SE
- Topcon Precision Agriculture
- Ag Junction Inc
- Raven Industries Inc.
Key players competing in the precision farming market include Yara International ASA; Land O’lakes Inc.; Lindsay Corp.; Tee-Jet Technologies; John Deere; AGCO Corp.; DICKEY-john Corp.; BASF SE; Topcon Precision Agriculture; Ag Junction Inc; and Raven Industries Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
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