The global market for Precision Agriculture valued at USD 8306.6 Million in 2022 is projected to reach a revised size of USD 19701.75 Million by 2030, growing at a CAGR of 11.4% over the period 2023-2030.
The latest research on the Precision Agriculture market provides a comprehensive overview of the market for the years 2023-2030. It gives a comprehensive picture of the global Precision Agriculture industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter’s five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Precision Agriculture market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
Major Key Players for Precision Agriculture Market:
AgJunction Inc. (Canada),Raven Industries Inc. (U.S),CNH Industrial N.V. (U.K),Deere & Company (U.S),Trimble, Inc. (U.S),Iteris Inc. (U.S),Topcon Corporation (Japan),PrecisionHawk (U.S),SenseFly (Cheseaux-sur-Lausanne),DICKEY-john (Auburn),SST Development Group, Inc. (U.S),Agribotix LLC (U.S), and other major players.
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Precision agriculture is an intelligent farming practice for agriculture management that uses information technology to ensure that soil and plants get everything they require for optimum health and productivity. The main objective of precision agriculture is to ensure sustainability, profitability, and protection of the environment. The agricultural sector has made tremendous changes over the years, especially in optimizing farming practices to yield maximum revenue from the produce. Moreover, advancements in technologies and high adoption from the growers are most likely to drive the market growth. The rising number of applications for telematics in farming is projected to boost the growth of the precision agriculture market.
Precision Agriculture Market Segmentation:
- Crop Management
- Weather Forecasting
- Irrigation Management
- Field Mapping
- Yield Monitoring
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Market Dynamics And Factors In Precision Agriculture Market
Key Market Drivers:
Adoption of Smart Phones in Farming
Key Market Restraints:
High-Priced Precision Agriculture Equipment
Increasing Utilization of AI- based Solutions
Geographic Segment Covered in the Report:
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Covid-19 Impact Analysis On Precision Agriculture Market
The sudden coronavirus outbreak has impacted the global precision agriculture market very negatively. The pandemic that hit in 2020 disrupted the basic functioning of the world economy. Supply chain, manufacturing, and logistics all across the world were disrupted and were functional only to the minimal capacity. Agricultural commodities are major imports and exports across the world, and this further makes their production and distribution a very important aspect, which was also severely affected by the novel coronavirus emergence.
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