With a projected value of USD 8.5 billion in 2022, the precision farming market is expected to expand at a compound annual growth rate (CAGR) of 12.5%. By 2029, the revenue is expected to have increased by about 19.39 billion USD.
Precision Farming Market Overview:
This study aims to give a comprehensive analysis of the Precision Farming market by geography, industry, and segments. The report offers comprehensive details on the key elements driving the expansion of the Precision Farming sector. The value chain of the market is also thoroughly examined in this report.
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Market Scope:
The first step in the research process used to evaluate and forecast the Precision Farming market is obtaining revenue information from important suppliers using secondary research sources. Vendor offerings are taken into account while developing market segmentation. The income of large firms was used to estimate the overall size of the Precision Farming market using the bottom-up methodology.
Dynamics:
Every innovation in the precision farming sector is rooted on technology. The market has expanded significantly, and it is predicted to continue growing as a result of the growing usage of technology. The primary driver of the expansion has been farmers’ approval of the companies’ experimentation with their devices. An enormous sigh of relief has been felt by the business as sophisticated devices have been handled satisfactorily. The agriculture sector is under pressure to produce more due to the expanding population and rising demand.
Its significance in the environment has been another important issue. Precision farming techniques are in line with agriculture’s growing emphasis on sustainability.
Segmentation:
Hardware, Software and Services are 3 primary components in precision farming sector. Hardware retains the greatest market share amongst the 3 segments and has almost 45% of the market share. This includes the actual tools and machinery used in precision farming, such as irrigation systems, drones, sensors, GPS receivers, and machinery. The services industry is expanding and has a huge future.
The precision farming industry includes applications such as weather tracking, field mapping, crop scouting, yield monitoring, and variable rate application. The industry leader is Yield Monitoring. In order to give farmers useful insights into field performance and productivity, this program collects and analyzes crop production data. The market share that weather tracking has accounted for is the lowest percentage.
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
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Key Players: the key players are:
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
Regional Analysis:
Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.
A detailed Market Overview
Market Share, Size & Forecast by Revenue | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by segments and sub-segments
Regional Insights
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research
Key Questions Answered in the Precision Farming Market Report are:
Which market segment held the biggest share in Precision Farming?
How is the Precision Farming market’s competitive environment?
Which are the main elements influencing the growth of the Precision Farming market?
Which area of the Precision Farming market has the most share?
What will the Precision Farming market’s compound annual growth rate be between 2023 and 2029?
Key Offerings:
Historical Market Size and Competitive Environment (2021–2023)
Historical pricing and regional price curves (2021–2023)
The market’s size, share, size, and forecast for each segment from 2023 to 2029
Market Dynamics: Regional Growth Drivers, Opportunities, Barriers, and Important Trends
Market segmentation: a thorough examination of each segment, along with its sub-segments, by region
Competitive Landscape: Strategically oriented profiles of a few major companies broken down by area
Market leaders, market followers, and regional players make up the competitive landscape.
Comparative analysis of major players by geographical area
PESTLE Evaluation
PORTER’s evaluation
Analysis of supply chains and value chains
Regional Legal Aspects of Business
profitable business prospects using SWOT analysis
Advice
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