Precision Farming/Agriculture Market Segmentation, Industry Analysis, 2028
Posted by Kiran Thakur on September 2nd, 2021
According to the current analysis of Reports and Data, the global Precision Farming/Agriculture Market was valued at USD 5.3 Billion in 2018 and is expected to reach USD 14.1 Billion by the year 2026, at a CAGR of 12.7%. This high growth is mainly attributable to an increasing usage of GPS & GIS systems to monitor agricultural parameters. These field mapping systems help to gather real-time data and enable the analysis of a huge geospatial data set.
This report delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period. The opportunities for growth and expansion that are prominent in the sector as well as the geographical coverage of the industry have also been investigated by the report.
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Key players profiled in the report:
Key participants include Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader (US), Precision Planting (US), etc.
Further key findings from the report suggest:
- Precision Farming/Agriculture market in North America was the largest with a share of 2% in 2018. The market here is projected to grow at a CAGR of 11.0% during the forecast period.
- The increasing adoption of efficient and sustainable Farming/Agriculture practices to ensure food security is one of the primary factors contributing to the use of precision Farming/Agriculture techniques in the agriculture sector.
- In 2018, the U.S. precision Farming/Agriculture market sales grew to USD 1.3 billion, at a CAGR of 9.3% during the forecast period.
- The Asia-Pacific region is projected to be the fastest growing market during the forecast period, growing at a CAGR of 18.7%. Presence of countries with the largest population, rising demands for food products, and the need to enhance farm output drive the demand for precision Farming/Agriculture techniques in the region.
Market Segmentation:
Component (Revenue, USD Million; 2016–2026)
- Hardware
- Automation & Control Systems
- Display
- Guidance & Steering
- GPS & GNSS
- Drones, UAV & Cameras
- Others
- Sensing and Monitoring Device
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Software
- Services
- Consulting & training
- Maintenance & update
- Integration
- Managed Service
- Other Services
Technology (Revenue, USD Million; 2016–2026)
- Guidance Technology
- Remote Sensing
- Variable-Rate Technology
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Europe
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Precision Farming/Agriculture market.
- To provide insights about factors affecting the market growth. To analyze the Precision Farming/Agriculture market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
