The global precision
farming market is foreseen to grow by 9.7%, from USD 8.53 Billion in 2021 to
USD 17.89 Billion in 2029. Climate change and need to meet rising demand for
food, increased adoption of internet of things (IoT) devices in agricultural
fields, rapid adoption of advanced technologies in precision farming to reduce
labor cost is to drive the market for the upcoming forecast period. However, high
costs of precision farming equipment, small size of landholdings and limited
availability of skilled labor remains one factor hindering the market growth
over the anticipated period.
Market Definition
What is Precision Farming?
Precision farming is the use of new technologies to
increase crop production by processing and analyzing multisource data for
decision making and operations compared to traditional farming.
Market Overview
The
precision farming market search study helps to thoroughly understand the
current trend in the market competitive analysis of the players in the emerging
market. Moreover, the DRO in the Precision farming market offers valuable
perspicuity and a current scenario for making the right decision. The research
study covers the eminent players in the market with a detailed analysis of the
company and a financial overview containing their net sales, business mix and
geographical reach It mainly focuses on the key developments of the products/services
offered by the company in recent years. Besides, we at Zettabyte have the
expertise to analyses the global precision farming market player's competitive
landscape helping the client comprehend their specific strategic growth
approaches.
Precision
farming market study by "Zettabyte Analytics" offers details about
the market scope, market segmentation, technological advancement in the precision
farming market and highlights the optimistic, competitive landscape and trends
enduring over the years.
Major players in
the precision farming market include Ag Leader Technology, Agco Corporation,
Ageagle Aerial Systems, Agjunction, Autonomous Tractor Corporation, Cnh
Industrial, Cropin Technology, Cropx Technologies, Deere & Company,
Descartes Labs, Dickey-John, Ec2Ce, Farmers Edge, Gamaya, Grownetics, Hexagon
Agriculture, Kubota, Precision Hawk, Raven Industries, Teejet Technologies,
Telus Agriculture, The Climate Corporation, The Yield Technology Solution,
Topcon Positioning Systems, Trimble.
COVID-19 Impact on Global Precision
Farming Market
The global impact
of COVID-19 has lost millions of lives with a massive cost to the healthcare
system. Moreover, the treatment cost for patients with COVID-19 has also had a
financial impact globally. the impact of COVID-19 on the precision farming
market has forced the companies to change their sourcing, pricing, and
promotion strategies. the precision farming market players are seen focusing
more on optimizing the e-commerce networks with the rising innovations in the
digital sector, which are creating new business models for the agriculture industry
player.
Research Scope
The report
provides market value for the base year 2021 and a yearly forecast from 2022 to
2029 in revenue (USD Million/ Billion). the market for each segment is present
in North America, Europe, Asia Pacific, Latin America, Middle East &
Africa, and the regional basis for the forecast mentioned above.
Key industry
dynamics, regulatory scenarios, major material dynamics and precision farming
market future markets are analyzed to understand their impact on demand for the
forecast period. growth rates have been estimated using correlation, regression
and time-series analysis.
Market Segmentation
For the purpose
of this report, the global precision farming market segmented on the basis of component
type, technology, application, and region:
Component Type Outlook:
On the basis of
component type, the market is segmented into hardware, software, service. Further,
hardware is segmented into antennas & access points, automation & control
systems, sensing devices. Further, software is segmented into cloud-based,
web-based. Further, service is segmented into assisted professional services,
maintenance & support, managed services, system integration &
consulting.
Figure 1 Precision farming Market By Component
Type (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Technology Outlook:
On the basis of technology, the market is segmented
into guidance technology, remote sensing technology, variable-rate technology. Further,
guidance technology is segmented into GPS/GNSS-based guidance technology, GIS-based
guidance technology. Further, remote sensing technology is segmented into
handheld or ground-based sensing, satellite or aerial sensing. Further,
variable-rate technology is segmented into map-based VRT, sensor-based VRT.
Application Outlook:
On the basis of
Application, the market is segmented into Crop Scouting, Farm Labor Management,
Field Mapping Telematics, Inventory Management, Weather Tracking &
Forecasting, Yield Monitoring, Others.
Figure 2 Application Outlook (Revenue, USD
Million, 2021)

Regional Outlook (Revenue, USD million; 2021
& 2029)
Regional Outlook
(Revenue, USD million; 2018-2029)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Spain
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Italy
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Rest of the Europe
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Asia Pacific
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India
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Japan
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China
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South Korea
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Australia
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Rest of Asia-Pacific
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Middle East & Africa
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UAE
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Saudi Arabia
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Mexico
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Argentina
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Rest of Latin America
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Figure 3 Precision farming Market: Regional Dynamics
