Global Precision Agriculture Market Size and Revenue Forecasts to 2027

The report on the Global Precision Agriculture Market initially offers an in-depth overview of the Precision Agriculture Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.

The global precision agriculture market size reached USD 6.98 Billion in 2021 and is expected to register a revenue CAGR of 12.9% during the forecast period, according to latest analysis by Emergen Research. Increasing use of advanced agricultural techniques and smartphones are major factors expected to drive market revenue growth between 2022 and 2030. Additionally, growing usage of variable rate, remote sensing, and guiding technology in precision agriculture will drive market revenue growth. Precision agriculture technologies including Variable Rate Technology (VRT), remote sensing, Global Positioning System (GPS), Geographical Information System (GIS), and guiding technology have enhanced output while lowering laborexpenses. Moreover, development of cutting-edge technology-based farming machinery has facilitated most efficient use of resources. Precision farming technology based on modern technology not only contributes to bottom-line savings by cutting labor costs but also significantly improves agricultural operations. Weeding, fertilizerapplication, and site management are tasks performed before harvesting that account for 50–70% of farm operating costs. Drones equipped with cameras are used in precision agriculture for spraying, weeding, pruning, and harvesting. These drones generate hyperspectral pictures, allowing farmers to monitor field activity.

The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Precision Agriculture market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.

Market Dynamics:

The report offers insightful information about the market dynamics of the Precision Agriculture market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Precision Agriculture market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Precision Agriculture market.

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Target Audience of the Global Precision Agriculture Market Report: 

  • Key Market Players
  • Investors
  • Venture capitalists
  • Small- and medium-sized and large enterprises
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)
  • Global market producers, distributors, traders, and suppliers
  • Research organizations, consulting companies, and various alliances interested in this sector
  • Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Leading manufacturers profiled in the report:

AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems.

Market Segmentation by Product Type:

  • Component Outlook (Revenue, USD Billion; 2017-2027)

    • Hardware
      1. Automation & Control Systems
        1. Displays
        2. Guidance & Steering
        3. GPS & GNSS
        4. Drones, UAV & Cameras
        5. Others
      2. Sensing and Monitoring Device
        1. Yield Monitors
        2. Soil Sensors
        3. Water Sensors
        4. Climate Sensors

  • Technology Outlook (Revenue, USD Billion; 2017-2027)

    • Guidance Technology
    • Remote Sensing
    • Variable-Rate Technology

  • Application Outlook (Revenue, USD Billion; 2017-2027)

    • Yield Monitoring
    • Field Mapping
    • Crop Scouting
    • Weather Tracking & Forecasting
    • Irrigation Management
    • Inventory Management
    • Farm Labor Management
    • Financial Management
    • Others

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Research Report on the Precision Agriculture Market Addresses the Following Key Questions:

  • Who are the dominant players of the Precision Agriculture market?
  • Which regional market is anticipated to have a high growth rate over the projected period?
  • What consumer trends and demands are expected to influence the operations of the market players in the Precision Agriculture market?
  • What are the key growth drivers and restraining factors of the Precision Agriculture market?
  • What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
  • What is the overall impact of the COVID-19 pandemic on the Precision Agriculture market and its key segments?

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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