Precision Agriculture Trends and Forecast
The future of the global precision agriculture market looks promising with opportunities in the mapping, crop scouting, yield monitoring, soil monitoring, and precision irrigation markets. The global precision agriculture market is expected to reach an estimated $21.45 billion by 2030 with a CAGR of 11.2% from 2024 to 2030. The major drivers for this market are growing environmental awareness and commitment to sustainability farming practices, innovations in sensor technology and rising integration of global positioning system (GPS) technology so as to enhance farming practices.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Precision Agriculture by Segment
The study includes a forecast for the global precision agriculture by technology, component, application, and region.
Precision Agriculture Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• GNSS/GPS Systems
• GIS
• Remote Sensing
• Variable Rate Technology
• Others
Precision Agriculture Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Automation & Control Systems
• Sensing & Monitoring Devices
• Farm Management Systems
Precision Agriculture Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
Precision Agriculture Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Mapping
• Crop Scouting
• Yield Monitoring
• Soil Monitoring
• Precision Irrigation
• Others
Precision Agriculture Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Precision Agriculture Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies precision agriculture companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the precision agriculture companies profiled in this report include-
• Agribotix
• Bayer CropScience
• Case IH Agriculture
• ClearAg Operations
• Conservis
• Deere & Company
• Farmers Edge
• Fairport Farm Software
• Fuse Technologies
• Granular
Precision Agriculture Market Insights
Lucintel forecasts that automation and control systems will remain the largest segment over the forecast period.
Within this market, yield monitoring will remain the largest segment.
APAC will remain the largest region over the forecast period due to population growth, escalating food needs, and rapid adoption of advanced agricultural technologies in the region.
Features of the Global Precision Agriculture Market
Market Size Estimates: Precision agriculture market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Precision agriculture market size by various segments, such as by technology, component, application, and region in terms of value ($B).
Regional Analysis: Precision agriculture market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different technologies, components, applications, and regions for the precision agriculture market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the precision agriculture market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the precision agriculture market size?
Answer: The global precision agriculture market is expected to reach an estimated $21.45 billion by 2030.
Q2. What is the growth forecast for precision agriculture market?
Answer: The global precision agriculture market is expected to grow with a CAGR of 11.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the precision agriculture market?
Answer: The major drivers for this market are growing environmental awareness and commitment to sustainability farming practices, innovations in sensor technology and rising integration of global positioning system (GPS) technology so as to enhance farming practices.
Q4. What are the major segments for precision agriculture market?
Answer: The future of the precision agriculture market looks promising with opportunities in the mapping, crop scouting, yield monitoring, soil monitoring, and precision irrigation markets.
Q5. Who are the key precision agriculture market companies?
Answer: Some of the key precision agriculture companies are as follows:
• Agribotix
• Bayer CropScience
• Case IH Agriculture
• ClearAg Operations
• Conservis
• Deere & Company
• Farmers Edge
• Fairport Farm Software
• Fuse Technologies
• Granular
Q6. Which precision agriculture market segment will be the largest in future?
Answer: Lucintel forecasts that automation and control systems will remain the largest segment over the forecast period.
Q7. In precision agriculture market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to population growth, escalating food needs, and rapid adoption of advanced agricultural technologies in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the precision agriculture market by technology (GNSS/GPS systems, GIS, remote sensing, variable rate technology, and others), type (automation & control systems, sensing & monitoring devices, and farm management systems), component (hardware and software), application (mapping, crop scouting, yield monitoring, soil monitoring, precision irrigation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Precision Agriculture Market, Precision Agriculture Market Size, Precision Agriculture Market Growth, Precision Agriculture Market Analysis, Precision Agriculture Market Report, Precision Agriculture Market Share, Precision Agriculture Market Trends, Precision Agriculture Market Forecast, Precision Agriculture Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.