Precision Farming Market, by Technology (Guidance, VRT, Remote Sensing), Application (Crop Scouting, Field Mapping, Variable Rate Application), Offering (Hardware—Sensors, GPS, Yield Monitors; Software; Services) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The global Precision Farming market size is projected to reach USD 13 billion by 2026 at a CAGR of 12.8% from USD 7.3 billion in 2021 during the forecast period 2021-2028.
Precision farming is an approach of farming wherein the inputs from the farm is used to increase the upcoming yield. Since theses inputs are looked at very precisely and thus it named so. This helps to overcome the problem of increasing productivity without significant increase in the area of land. This also enable the farmer to have more control over the production system and management of the farm.
Due to the increased demand for agricultural product along with support from the government the technological advancements and acceptance in the sector are some of the factors that have supported long-term expansion for Precision Farming Market.
The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. Supply chains were highly affected but the sector showed only marginal decrease during the pandemic due to the new opportunities developed by the interaction of farmers and the technology.
America is expected to be the largest market during the forecast period. Due to the early adoption of technology along with precise farming system have led to growth in the commercial refrigeration equipment in the region. To add on the reduced labour cost, growing population and increased requirement of productivity from the same area of land have also contributed to the market development.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Market Revenue In 2021 |
USD 7.3 billion |
Growth Rate |
CAGR of 12.8% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD million and CAGR from 2021 to 2028 |
Report Segmentation |
Technology, Offering, Application and geography |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries, AG Leader, Taranis, AgEagle, Teejet Technologies, The Climate Corporation, Topcon Positioning Systems, Descartes Labs, ec2ce, Prospera Technologies, Autonomous Tractor Corporation, Hexagon Agriculture, CropX Technologies, Granular, and Autocopter Corp |
Available Customization |
In addition to the market data for Precision Farming Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Precision Farming Market is segmented into Technology, Offering, Application and geography.