c is worth USD 8.5 Billion in 2022 and is estimated to grow at a CAGR of 12.5% in the forecasted period. The forecasted revenue hints at a growth of around 19.39 billion USD by 2029.
Precision Farming Market Overview:
The “Global Precision Farming Market Analysis” is a detailed examination of the Precision Farming market, with an emphasis on global market trends and analysis. The purpose of this research is to offer an overview of the Precision Farming industry as well as complete market segmentation by segment and geography. Over the forecast period, the Precision Farming market is predicted to increase substantially. The study includes key data on the market positions of the top Precision Farming organizations, as well as significant industry trends and prospects.
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Market Scope:
Top-down and bottom-up approaches are used to validate the market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
Drivers:
Every advancement in the field of precision farming relies on technology. The market has had tremendous growth, and it is anticipated that this growth will continue as technology is increasingly utilized. The acceptance of the corporations by farmers to test their products has been the primary driver of expansion. The industry has breathed a great sigh of relief as a result of the skillful handling of sophisticated devices. Pressure to produce more has been placed on the agriculture industry by both the expanding population and the rising demand.
Segmentation:
by Application
Yield Monitoring
Crop Scouting
Variable Rate Application
Field Mapping
Weather Tracking
by Component
Hardware
Software
Services
by Technology
Global Positioning System
Geographic Information System
Remote Sensing
Variable Rate Technology
Telematics
by Deployment
On-premises
Cloud-based
Key Players:
Primary and secondary research is used to identify industry giants, while primary and secondary research is used to estimate market revenue. In-depth interviews with thought leaders and industry professionals, including experienced front-line staff, CEOs, and marketing specialists, were conducted as part of the core study. The secondary study included an analysis of annual and financial reports from well-known manufacturers. Secondary data is used to compute percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then compared to original data. The firms listed below are involved in the Precision Farming industry.
1. Deere & Company – United States
2. Trimble – United States
3. AGCO Corporation – United States
4. Raven Industries – United States
5. Topcon Positioning Systems – United States
6. AgJunction – United States
7. Ag Leader Technology – United States
8. CNH Industrial – United States
9. SST Software – United States
10. Teejet Technologies – United States
11. Valmont Industries – United States
12. Precision Planting – United States
13. The Climate Corporation – United States
14. Lindsay Corporation – United States
15. Trimble Navigation Limited – United States
16. DICKEY-john Corporation – United States
17. Sentera LLC – United States
18. SST Development Group, Inc. – United States
19. Farmers Edge – Canada
20. Mavrx Inc. – United States
21. Agri Con GmbH – Germany
22. Hexagon Agriculture – Sweden
23. AgroSense – Hungary
24. Yara International – Norway
25. Kubota Corporation – Japan
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Regional Analysis:
The research focuses on geographic analysis, which is further divided into sub-regions and nations. This component of the research includes profit estimates and market share figures for each nation. This section of the research looks at each region’s and country’s share and growth rate throughout the anticipated time period.
After analyzing political, economic, social, and technological factors affecting the Precision Farming market in various sectors, the research presents a complete PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
COVID-19 Impact Analysis on Precision Farming Market:
The COVID-19 virus has altered customer behavior in all aspects of society. Businesses, on the other hand, must adjust their strategy to account for shifting market supply. This analysis gives an outline of COVID-19’s impact on the Precision Farming market and will help you build your business in compliance with the new industry standards.
The Precision Farming Market Report presents thorough research spanning from the agile supply chain and trade limitations to regional government regulations and the firm’s future influence under the COVID-19 Impact section. Primary market research (2021-2027), examples of venture rivalry, the advantages and disadvantages of huge business channels, and industry growth trends (2021-2027) are all offered.
Key Questions Answered in the Precision Farming Market Report are:
- What is the size of the Precision Farming market?
- Which regional market will take the lead in the next years?
- Which application category is likely to grow the most quickly?
- What growth prospects could exist in the Precision Farming business in the next years?
- What would be the most significant future obstacles for the Precision Farming market?
- Who are the market leaders in the category Precision Farming?
- What are the key trends impacting market growth?
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