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Precision Agriculture Market Size, Share, Trends, Analysis Report by Application (Guidance and Monitoring Systems (GIS, GNSS, and Remote Sensing), Variable Rate Technology, and Telematics), Components (Hardware (Drones, GPS Devices, Sensors, and Others) and Software), and Geography (North America, APAC, Europe, Latin America, and Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Trends, Competitive Landscape, Market Share & Forecast, 2018-2023
199 Pages
53 Tables
54 Charts
5 Regions
8 Countries
15 Companies
3 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 9 BILLION (2023) |
| CAGR | 16% (2018-2023) |
| BASE YEAR | 2017 |
| FORECAST YEAR | 2018-2023 |
| MARKET SEGMENTS | Application (Guidance and Monitoring Systems (GIS, GNSS, and Remote Sensing), Variable Rate Technology, and Telematics), Components (Hardware (Drones, GPS Devices, Sensors, and Others) and Software) |
| GEOGRAPHIC ANALYSIS | North America, Europe, APAC, Latin America, and Middle East & Africa |
| COUNTRIES COVERED | US, Canada, UK, Sweden, Germany, Switzerland, Belgium, France, Italy, Spain, Netherlands, China, Japan, South Korea, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, and UAE |
The global precision agriculture market size to cross USD 9 billion by 2023, growing at a CAGR of 16% during the forecast period. The smart use of technology to enable better decision making and optimized use of resources on farms is propelling the global precision agriculture market growth. The growing requirement to achieve higher yields and effectively meet the growing demand for food will boost the demand in the global precision farming market. This form of farming involves the deployment of a web of sensors, drones, and software to gather, process, and analyze data to derive actionable insights for on-farm decisions. The evolution of (geographical information systems) GIS and GNSS ecosystem, falling prices of sensors, and the adoption of navigation systems will revolutionize the global farming industry. The use of precision technology such as navigation systems and drones drastically reduce the dependence on manual labor for scouting and crop monitoring activities and improves the overall efficiency of this whole process. Additionally, the use of these controllers and monitors will enable the right usage of fertilizers, pesticides, and insecticides, thereby, preventing the deterioration of soil quality and initiates cost savings. The government initiatives and subsidies will encourage the implementation of digital set-up and procurement of smart infrastructure in the market. Digitalization will result in faster sharing of valuable information across geographies and the markets will improve the economic conditions in the overall agricultural industries. The increase in retail and industrial consumption will propel growth in developing countries.
The recent trends of urbanization, lifestyle changes, resource exploitation, and innovative communication systems will augment the industry growth. The increasing adoption of efficient and sustainable farming technologies to ensure better food security and safety are one of the primary factors contributing to the use of smart systems in the agriculture industry.
The implementation of regulatory frameworks that helps to impart better clarity on UAV usage will augment the digital farming industry growth. The use of this precision agriculture system enables the uses of various yield monitoring and data capturing systems which helps farmers and organizations to derive meaningful insights and increasing productivity in farms across the globe. The use of drones helps offer aerial imagery that can reveal patterns and expose variations related to soil variation, water distribution, and pest and fungal infestations. The establishment of regulatory policies and rules will enable government agencies to regulate and monitor activities of drones used in precision farming technology so that it does not infringe human privacy, ground safety, data proprietorship, and cause any disturbance to civil aviation. The establishment of regulations in countries such as Australia, the UK, Germany, and Denmark will encourage the adoption of UAVs for commercial purposes in the global precision farming market growth.
This research report on includes a detailed segmentation by
Federal incentives will boost the adoption of hardware in the global precision agriculture market during the forecast period
Hardware segment dominated a significant precision agriculture market share in 2017, growing at an impressive CAGR of around 13% during the forecast period. The hardware components include software such as sensors, drones, GPS devices, smart controllers, software consists of farm data analytics, geo-spatial analytics, updating platforms, crop management software, farm inventory management, personnel management, and weather forecasting and representation. The continuous evolution of smart hardware will propel the development of modern farm equipment integrated with additional provisions in the global precision agriculture market. Sensors are gaining immense popularity in the agricultural industry as these are used for detecting temperature, pressure, IR, proximity, and ultrasonic and touch. The adoption of GPS devices and tracking systems will help auto-steering, closer monitoring of ingredient application to farm, and use of repetitive operations will augment the growth of the global precision agriculture market.
GIS and remote sensing systems to gain immense popularity
The global precision agriculture market by application is segmented into guidance and monitoring systems (GIS, GNSS, and remote sensing), variable rate technology, and telematics. Guidance and monitoring systems occupied a majority precision agriculture market share in 2017, growing at a CAGR of around 16% during the forecast period. The exponential use of GIS and remote sensing technologies by federal agencies and research projects for large-scale analysis in agriculture industries will propel the growth of this segment in the global precision farming market. The deployment of GPS in farming architecture to offer comprehensive solutions to farming communities will revolutionize the global precision agriculture market. The growing popularity of GNSS and GIS systems offer easily available, extractable, and moldable data to produce meaningful insights that will drive growth. GPS based tools are used for farm planning, soil sampling, swath and tractor guidance systems, crop scouting, field mapping, and yield monitoring applications in the agricultural sector.
Technological awareness in farming in North Americas will drive growth
The global precision agriculture market by geography is categorized into North America, Asia Pacific, Europe, Latin America, and MEA. North America dominated the majority market share in 2017, growing at a CAGR of more than 14% during the forecast period. The increasing availability of technological and mechanical components in precision agriculture techniques such as sensors, drones, and GPS devices will drive the growth of the North American industry. The proliferation of advanced data infrastructure and a high degree of technological awareness among the farming community in North America will propel the growth. The increasing focus on sustainable farm practices and technology-integrated agricultural models by government agencies will attribute to the development of the North American region.
The increasing focus on yield monitoring and maximization coupled with a better quality of crop yields and limited and right usage of fertilizers, fungicides, and pesticides is driving the competition in the global precision agriculture market. The increasing demand for infrastructure, distribution, and warehousing facilities will create new opportunities for leading vendors in the global precision agriculture market. The top players are offering innovative hardware and software solutions that ensure profitability, efficiency, and sustainability while protecting the environment to gain a larger share. Increasing investments by Mitsui, Monsanto, and Syngenta that support startups to develop solutions will boost revenues in the global market. These solutions help improving irrigation management, crop spraying, harvesting, and more practices in the global industry. The leading vendors are AgJunction, Trimble Navigation, AGCO Corporation, Deere & Company, and Topcon Corp.
Segmentation by Application
By Components
By Geography
The global precision agriculture market is driven by rising environmental awareness, growing resource costs, and impending regulatory challenges. The encroachment of forest land, indiscriminate water consumption and wastage, unscientific usage of pesticides, and fertilizers to achieve short-term productivity will propel the demand in the global precision farming market. The market research report provides in-depth market analysis and segmental analysis of the global precision agriculture market by applications, components, and geography.
Base Year: 2017
Forecast Year: 2018–2023
The study considers the present scenario of the global precision agriculture market and its market dynamics for the period 2018−2023. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply side of the precision farming market. Also, the study profiles and analyzes various leading and other prominent market participants across applications, components, and geography in the market.
Major Vendors in the Precision Agriculture Market
Prominent Players in the Precision Agriculture Market
Market Segmentation by Application
Market Segmentation by Components
Market Segmentation by Geography
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Precision Agriculture Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Component
4.3.2 Market Segmentation by Application
4.3.3 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Precision Agriculture Market Derivation
6 Precision Agriculture Market at a Glance
7 Introduction
7.1 Overview
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Proliferation of Mobile Connectivity and Smartphones
8.1.2 Volatile Prices of Commodities and Input Raw Materials
8.1.3 Increased Food Demand due to Population Growth
8.1.4 Federal Intervention and Initiatives to Boost Productivity and Efficiency in Agriculture
8.1.5 YOY Impact of Market Growth Enablers
8.1.6 YOY Impact of Market Growth Enablers on Regions
8.2 Market Growth Restraints
8.2.1 Skepticism over Misuse of Farm Data
8.2.2 Huge Capital Investments Deter Initial Adoption
8.2.3 Lack of Awareness and Need for Knowledge Framework
8.2.4 YOY Impact of Market Growth Restraints
8.2.5 YOY Impact of Market Growth Restraints on Regions
8.3 Market Opportunities & Trends
8.3.1 Regulatory Frameworks to Impart Better Clarity on UAV Usage
8.3.2 Big Data and Internet of Agriculture Things
8.3.3 Worldwide Increase in Minimum Labor Wages Warrants the Need to Control Input Costs
8.3.4 YOY Impact of Market Opportunities & Trends
8.3.5 YOY Impact of Market Opportunities & Trends on Regions
9 Global Precision Agriculture Market
9.1 Market Overview
9.1.1 Market Size & Forecast 2017–2023
9.2 Porter’s Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry
10 Global Precision Agriculture Market by Application
10.1 Market Overview
10.2 Guidance and Monitoring Systems
10.2.1 Market Size & Forecast
10.2.2 GNSS: Market Size & Forecast
10.2.3 GIS: Market Size & Forecast
10.2.4 Remote Sensing: Market Size & Forecast
10.3 Variable Rate Technology
10.3.1 Market Size & Analysis
10.3.2 Variable Rate Fertilizer
10.3.3 Variable Rate Pesticides
10.3.4 Variable Rate Seeding
10.4 Telematics
10.4.1 Market Size & Forecast
11 Global Precision Agriculture Market by Component
11.1 Market Overview
11.2 Hardware
11.2.1 Market Size & Analysis
11.2.2 Sensors: Market Size & Forecast
11.2.3 Drones: Market Size & Forecast
11.2.4 GPS Devices: Market Size & Forecast
11.3 Software
11.3.1 Market Size & Analysis
12 Global Precision Agriculture Market by Geography
12.1 Market Overview
13 APAC: Precision Agriculture Market
13.1 Market Overview
13.1.1 Market Size & Forecast 2017–2023
13.2 Segmentation by Application
13.3 Segmentation by Component
13.4 Key Countries
13.4.1 China: Market Size & Forecast
13.4.2 India: Market Size & Forecast
13.4.3 Australia: Market Size & Forecast
13.4.4 Other Countries: Market Size & Forecast
14 EMEA: Precision Agriculture Market
14.1 Market Overview
14.1.1 Market Size & Forecast 2017–2023
15 Europe: Precision Agriculture Market
15.1 Market Overview
15.1.1 Market Size & Forecast 2017–2023
15.2 Segmentation by Applications
15.3 Segmentation by Components
15.4 Key Countries
15.4.1 France: Market Size & Forecast
15.4.2 Germany: Market Size & Forecast
15.4.3 Spain: Market Size & Forecast
15.4.4 Other Countries: Market Size & Forecast
16 MEA: Precision Agriculture Market
16.1 Market Overview
16.1.1 Market Size & Forecast 2017–2023
16.2 Segmentation by Application
16.3 Segmentation by Components
17 North America: Precision Agriculture Market
17.1 Market Overview
17.1.1 Market Size & Forecast 2017–2023
17.2 Segmentation by Application
17.3 Segmentation by Components
17.4 Key Countries
17.4.1 US: Market Size & Forecast
17.4.2 Canada: Market Size & Forecast
18 Latin America: Precision Agriculture Market
18.1 Market Overview
18.2 Segmentation by Application
18.3 Segmentation by Components
19 Competitive landscape
19.1 Market Overview
19.2 Market Vendor Analysis
20 Key Company Profiles
20.1 AgJunction
20.1.1 Business Overview
20.1.2 Major Product Offerings
20.1.3 Key Strategies
20.1.4 Key Strengths
20.1.5 Key Opportunities
20.2 Trimble Navigation
20.2.1 Business Overview
20.2.2 Major Product Offerings
20.2.3 Key Strategies
20.2.4 Key Strengths
20.2.5 Key Opportunities
20.3 AGCO Corp.
20.3.1 Business Overview
20.3.2 Major Product Offerings
20.3.3 Key Strategies
20.3.4 Key Strengths
20.3.5 Key Opportunities
20.4 Deere & Company
20.4.1 Business Overview
20.4.2 Product Offerings
20.4.3 Key Strategies
20.4.4 Key Strengths
20.4.5 Key Opportunities
20.5 Topcon Corp.
20.5.1 Business Overview
20.5.2 Product Offerings
20.5.3 Key Strategies
20.5.4 Key Strengths
20.5.5 Key Opportunities
21 Other Prominent Vendors
21.1 Ag Leader Technology
21.1.1 Business Overview
21.1.2 Product Offerings
21.2 DICKEY-john Corp.
21.2.1 Business Overview
21.2.2 Product Offerings
21.3 Precision Planting Company
21.3.1 Business Overview
21.3.2 Product Offerings
21.4 Lindsay Corp.
21.4.1 Business Overview
21.5 Raven Industries
21.5.1 Business Overview
21.5.2 Product Offerings
21.6 Novariant Inc.
21.6.1 Business Overview
21.6.2 Products Offerings
21.7 SST Software
21.7.1 Business Overview
21.7.2 Product Offerings
21.8 TeeJet Technologies
21.8.1 Business Overview
21.8.2 Product Offerings
21.9 Valmont Industries
21.9.1 Business Overview
21.9.2 Product Offerings
21.10 Yara International
21.10.1 Business Overview
21.10.2 Product Offerings
22 Report Summary
22.1 Key Takeaways
22.2 Qualitative Summary: Global Precision Agriculture Market
22.3 Quantitative Summary: Global Precision Agriculture Market
22.3.1 Market by Geography
22.3.2 Market by Application
22.3.3 Market by Components
23 Appendix
23.1 Abbreviations
23.2 Agri-tech Startups
List of Exhibits
Exhibit 1 Segmentation of Precision Agriculture Market
Exhibit 2 Market Size Calculation Approach 2017
Exhibit 3 Number of Smart Users 2017 (million users)
Exhibit 4 Global Market 2017−2023 ($ million)
Exhibit 5 Five Forces Analysis 2017
Exhibit 6 Global Precision Agriculture Market by Application 2017 and 2023
Exhibit 7 Global Market by Application
Exhibit 8 Precision Agriculture Guidance and Monitoring Systems 2017−2023 (in $ million)
Exhibit 9 Global GNSS Market 2017−2023 ($ million)
Exhibit 10 Global GIS Market 2017−2023 ($ million)
Exhibit 11 Global Remote Sensing Market 2017−2023 ($ million)
Exhibit 12 Global Variable Rate Technology Market 2017−2023 ($ million)
Exhibit 13 Global Telematics Market 2017−2023 ($ million)
Exhibit 14 Global Precision Agriculture Market by Components 2017 and 2023
Exhibit 15 Segmentation of Market by Component
Exhibit 16 Global Market by Hardware 2017–2023 ($ million)
Exhibit 17 Sensors Market in Prison Agriculture 2017-2023 ($ million)
Exhibit 18 Major Agri-Drone Operators in US 2015−2016
Exhibit 19 Drones in Precision Agriculture Market 2017−2023 ($ million)
Exhibit 20 GPS Devices Market in the Sector 2017−2023 ($ million)
Exhibit 21 Global Market by Software 2017−2023 ($ million)
Exhibit 22 Global Precision Agriculture Market by Geography 2017 and 2023
Exhibit 23 Market Share of Various Regions 2017 ($ million)
Exhibit 24 Precision Agriculture Market in APAC 2017−2023 ($ million)
Exhibit 25 Market in APAC by Application 2017−2023 ($ million)
Exhibit 26 Market in APAC by Components 2017−2023 ($ million)
Exhibit 27 Market in APAC by Key Countries 2017 and 2023
Exhibit 28 Precision Agriculture Market in China 2017–2023 ($ million)
Exhibit 29 Market in India 2017–2023 ($ million)
Exhibit 30 Market in Australia 2017−2023 ($ million)
Exhibit 31 Market in Other Countries 2017−2023 ($ million)
Exhibit 32 Market in EMEA 2017–2023 ($ million)
Exhibit 33 Market in Europe 2017–2023 ($ million)
Exhibit 34 Market in Europe by Applications 2017−2023 ($ million)
Exhibit 35 Precision Agriculture Market in Europe by Components 2017−2023 ($ million)
Exhibit 36 Market in Europe by Key Countries 2017 and 2023
Exhibit 37 Market in France 2017–2023 ($ million)
Exhibit 38 Market in Germany 2017–2023 ($ million)
Exhibit 39 Precision Agriculture Market in Spain 2017−2023 ($ million)
Exhibit 40 Market in Other Countries 2017−2023 ($ million)
Exhibit 41 Precision Agriculture Market in MEA 2017–2023 ($ million)
Exhibit 42 Market in MEA by Application 2017−2023 ($ million)
Exhibit 43 Precision Agriculture Market in MEA by Components 2017−2023 ($ million)
Exhibit 44 Precision Agriculture Market in North America 2017−2023 ($ million)
Exhibit 45 Market in North America 2017–2023
Exhibit 46 Precision Agriculture Market in North America by Components 2017−2023 ($ million)
Exhibit 47 Precision Agriculture Market in North America by Key Countries 2017 and 2023
Exhibit 48 Market in US 2017–2023 ($ million)
Exhibit 49 Market in Canada 2017−2023 ($ million)
Exhibit 50 Share of Agriculture in Latin America’s Workforce
Exhibit 51 Land Holding Structure in Latin America Economies 2014
Exhibit 52 Market in Latin America 2017−2023 ($ million)
Exhibit 53 Market in Latin America by Application 2017−2023 ($ million)
Exhibit 54 Precision Agriculture Market in Latin America by Components 2017−2023 ($ million)
List of Tables
Table 1 Key Geographies Definition
Table 2 Key Caveats
Table 3 Currency Conversion 2013−2017
Table 4 YOY Impact of Market Growth Enablers 2017−2023
Table 5 YOY Impact of Market Growth Enablers on Regions 2017
Table 6 Illustration of Returns on the Sector in US 2016
Table 7 YOY Impact of Market Growth Restraints 2017−2023
Table 8 YOY Impact of Market Growth Restraints on Regions 2017
Table 9 Big Data Framework and Scope in Agriculture
Table 10 Emerging Players in Big Data and Agricultural IoT Space
Table 11 YOY Impact of Market Opportunities & Trends 2017−2023
Table 12 YOY Impact of Market Opportunities & Trends on Regions 2017
Table 13 Advantages of Precision Farming over Conventional Modes
Table 14 Global Market by Application 2017−2023 ($ million)
Table 15 Global Guidance and Monitoring System by Types 2017−2023 ($ million)
Table 16 Acceptable Accuracy Requirements of Farm Applications and Technologies
Table 17 Global Precision Agriculture Market by Components 2017−2023 ($ million)
Table 18 Global Market by Hardware 2017−2023 ($ million)
Table 19 Global Market by Software 2017−2023 ($ million)
Table 20 Scope of Sensor and their Applications in the Sector
Table 21 Global Precision Agriculture Market by Hardware Types 2017−2023
Table 22 Major Farm Management Software 2010−2016
Table 23 Global Precision Agriculture Market 2017−2023 ($ million)
Table 24 Market in APAC 2017−2023 ($ million)
Table 25 Market in Europe 2017−2023 ($ million)
Table 26 Market in MEA 2017−2023 ($ million)
Table 27 Market in North America 2017−2023 ($ million)
Table 28 Market in Latin America 2017−2023 ($ million)
Table 29 Portfolio Mapping of Vendors
Table 30 Benchmarking of Vendors in Market
Table 31 Outdoor Guidance Products
Table 32 Satloc Products
Table 33 Trimble Navigation: Fleet Management Product Offerings
Table 34 Trimble Navigation: Guidance and Steering Product Offerings
Table 35 Trimble Navigation: Correction Services Product Offerings
Table 36 Trimble Navigation: Flow and Application Control Product Offerings
Table 37 Trimble Navigation: Flow and Application Control Product Offerings
Table 38 Trimble Navigation: Water Management Product Offerings
Table 39 Agco Corp: Product Offerings
Table 40 Deere & Company: Product Offerings
Table 41 Topcon Corp: Product Offerings
Table 42 Ag Leader Technology: Product Offerings
Table 43 DICKEY-john Corporation: Product Offerings
Table 44 Precision Planting Company: Product Offerings
Table 45 Raven Industries: Product Offerings
Table 46 Novariant: Product Offerings
Table 47 TeeJet Technologies: Product Offerings
Table 48 Valmont: Product Offerings
Table 49 Qualitative Summary of Global Precision Agriculture Market
Table 50 Quantitative Summary of Global Market by Geographies 2017–2023
Table 51 Quantitative Summary of Global Market by Application 2017–2023
Table 52 Quantitative Summary of Global Market by Components 2017–2023
Table 53 List Of Agri-tech Startups
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