Global Precision Farming Market Data 2024, Forecast To 2033
23 Feb, 2024
The precision farming market has experienced rapid growth, rising from $7.72 billion in 2023 to $8.93 billion in 2024, with a 15.6% CAGR. This growth is attributed to factors such as increasing population and environmental concerns. Moving forward, the market is projected to reach $15.42 billion in 2028, with a 14.6% CAGR, fueled by trends like big data and analytics, drone technology, and precision livestock farming.
Global Precision Farming Market Key Driver
The precision farming market is witnessing growth due to the growing demand for food production. Precision farming, enabled by advanced agricultural technology, contributes to higher yields. With the world wheat production projected to increase, the demand for precision farming solutions is expected to rise, fostering market growth.
Get A Free Sample Of The Global Precision Farming Market ReportGlobal Precision Farming Market Segments
The precision farming market covered in this report is segmented –
1)By Offering: Hardware, Software, Services
2)By Technology: Guidance Technology, Remote Sensing Technology, Variable Rate Application
3)By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas the largest region in the precision farming market in 2023. The regions covered in the precision farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Precision Farming Industry Players
Deere and Company; Trimble Inc; AGCO Corporation; AgJunction Inc; Raven Industries Inc; AG Leader Technology; Teejet Technologies Private Limited; Topcon Positioning Systems; DICKEY-john Corporation; CropMetrics LLC; CropX Technologies Ltd; Agribotix LLC; AgEagle Aerial Systems Inc; Granular Inc; Hexagon Agriculture; Iteris Inc.; AgSmarts Inc; Intelligent Agricultural Solutions LLC; Grownetics Inc; Cargill Incorporated; Precision Planting LLC; Farmers Edge Inc.; The Climate Corporation; Taranis-Visual Ltd.; Descartes Labs; Mavrx Inc.; TerrAvion Inc.; Gamaya Inc.; Aerobotics; Teralytic; Arable Labs; Fieldin Inc.; Agworld Pty Ltd.; CropIn Technology Solutions Pvt. Ltd.; AgriTask; Conservis Corporation; Farmobile LLC
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Precision Farming Market Overview
Precision farming refers to a model of farm management that focuses on the process of observing, quantifying, and reacting to numerous intra-and inter-field variable inputs for contemporary agriculture. It is used to increase food production while utilising fewer resources and paying less for labour.
Precision Farming Global Market Report 2023 provides data on the global precision farming market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The precision farming market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.