Market Overview:
The global precision agriculture technology market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for food owing to the growing population, and the need for efficient agricultural practices that can help in reducing wastage and improving yield. The global precision agriculture technology market is segmented on the basis of type, application, and region. On the basis of type, guidance system accounted for a major share of the market in 2017. This can be attributed to its ability to provide real-time information about field conditions which helps farmers in making informed decisions about planting, fertilizing, and irrigation. Remote sensing is another key segment of this market and is expected to grow at a high rate during the forecast period owing to its ability detect crop stress early thereby helping farmers take corrective action in time.
Product Definition:
Precision agriculture technology is a term used to describe the use of technologies like global positioning systems (GPS), geographic information systems (GIS), and sensors to manage crops and livestock. The goal of precision agriculture technology is to use these tools to help farmers more accurately map, measure, and manage their land, crops, and animals.
Guidance System:
The global guidance system market size was valued at USD 1.8 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growing adoption of guidance systems for field operations, such as seeding, fertilizing, and harvesting crops is one of the key factors driving growth in this industry.
Remote Sensing:
Remote sensing is a technique that uses reflected sunlight from the sun and other sources to measure characteristics of Earth's surface including land use, soil type, relief, and geology. It provides valuable information on a large scale for various applications such as agriculture (site selection & crop monitoring), natural resources (monitoring water & land availability), infrastructure (site selection for building construction) and others.
Application Insights:
The others application segment includes water and land management. The precision agriculture technology in this segment enables farmers to manage the soil, crops and water more efficiently. It provides real-time information on a smartphone app, which is helpful for small farms that have limited resources.
Agricultural cooperatives are expected to be the fastest-growing application market for global precision agriculture technology at a CAGR of XX% from 2018 to 2030 owing to their ability to provide cost savings through economies of scale and scope in production as well as distribution channels. In addition, these organizations can offer technical assistance related to agricultural practices if needed by the member farmers or farmworkers associations within its region or countrywide level thus contributing towards higher penetration rates across all regions globally over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well, owing to increasing adoption of precision agriculture technologies across U.S. and Canada agricultural fields. Europe accounted for a significant share of revenue in 2017 due to increased adoption of precision farming systems by several countries such as Germany, France, Italy and U.K.
Asia Pacific regional market captured a significant share in 2018 owing to increasing awareness among farmers regarding benefits offered by these systems such as reduction or elimination of soil erosion.
Growth Factors:
- Increasing demand for food due to population growth
- Rising awareness about the benefits of precision agriculture technology
- Government initiatives and subsidies for the adoption of precision agriculture technology
- Technological advancements in precision agriculture equipment and software
- Growing demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Precision Agriculture Technology Market Research Report
By Type
Guidance System, Remote Sensing, Variable Rate Technology (VRT), Others
By Application
Farmland & Farms, Agricultural Cooperatives, Others
By Companies
Motorola, IRRIOT, SST(Proagrica), Precision Irrigation, CropMetrics LLC, Trimble Agriculture, CropX, Valmont Industries, Dickey-John Corporation, Monsanto Company, Ag Leader Technology, AgJunction, Raven Industries, Topcon Positioning Systems, TeeJet Technologies
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Precision Agriculture Technology Market Report Segments:
The global Precision Agriculture Technology market is segmented on the basis of:
Types
Guidance System, Remote Sensing, Variable Rate Technology (VRT), Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Farmland & Farms, Agricultural Cooperatives, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Motorola
- IRRIOT
- SST(Proagrica)
- Precision Irrigation
- CropMetrics LLC
- Trimble Agriculture
- CropX
- Valmont Industries
- Dickey-John Corporation
- Monsanto Company
- Ag Leader Technology
- AgJunction
- Raven Industries
- Topcon Positioning Systems
- TeeJet Technologies
Highlights of The Precision Agriculture Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Guidance System
- Remote Sensing
- Variable Rate Technology (VRT)
- Others
- By Application:
- Farmland & Farms
- Agricultural Cooperatives
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Precision Agriculture Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Precision agriculture technology is a suite of tools and techniques used to improve agricultural production by more accurately targeting inputs, such as water, fertilizer, and pesticides. Precision agriculture can help farmers produce crops more efficiently while reducing environmental impact and improving crop yields.
Some of the major companies in the precision agriculture technology market are Motorola, IRRIOT, SST(Proagrica), Precision Irrigation, CropMetrics LLC, Trimble Agriculture, CropX, Valmont Industries, Dickey-John Corporation, Monsanto Company, Ag Leader Technology, AgJunction, Raven Industries, Topcon Positioning Systems, TeeJet Technologies.
The precision agriculture technology market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Precision Agriculture Technology Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Precision Agriculture Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Precision Agriculture Technology Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Precision Agriculture Technology Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Precision Agriculture Technology Market Size & Forecast, 2018-2028
4.5.1 Precision Agriculture Technology Market Size and Y-o-Y Growth
4.5.2 Precision Agriculture Technology Market Absolute $ Opportunity
Chapter 5 Global Precision Agriculture Technology Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Precision Agriculture Technology Market Size Forecast by Type
5.2.1 Guidance System
5.2.2 Remote Sensing
5.2.3 Variable Rate Technology (VRT)
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Precision Agriculture Technology Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Precision Agriculture Technology Market Size Forecast by Applications
6.2.1 Farmland & Farms
6.2.2 Agricultural Cooperatives
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Precision Agriculture Technology Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Precision Agriculture Technology Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Precision Agriculture Technology Analysis and Forecast
9.1 Introduction
9.2 North America Precision Agriculture Technology Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Precision Agriculture Technology Market Size Forecast by Type
9.6.1 Guidance System
9.6.2 Remote Sensing
9.6.3 Variable Rate Technology (VRT)
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Precision Agriculture Technology Market Size Forecast by Applications
9.10.1 Farmland & Farms
9.10.2 Agricultural Cooperatives
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Precision Agriculture Technology Analysis and Forecast
10.1 Introduction
10.2 Europe Precision Agriculture Technology Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Precision Agriculture Technology Market Size Forecast by Type
10.6.1 Guidance System
10.6.2 Remote Sensing
10.6.3 Variable Rate Technology (VRT)
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Precision Agriculture Technology Market Size Forecast by Applications
10.10.1 Farmland & Farms
10.10.2 Agricultural Cooperatives
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Precision Agriculture Technology Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Precision Agriculture Technology Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Precision Agriculture Technology Market Size Forecast by Type
11.6.1 Guidance System
11.6.2 Remote Sensing
11.6.3 Variable Rate Technology (VRT)
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Precision Agriculture Technology Market Size Forecast by Applications
11.10.1 Farmland & Farms
11.10.2 Agricultural Cooperatives
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Precision Agriculture Technology Analysis and Forecast
12.1 Introduction
12.2 Latin America Precision Agriculture Technology Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Precision Agriculture Technology Market Size Forecast by Type
12.6.1 Guidance System
12.6.2 Remote Sensing
12.6.3 Variable Rate Technology (VRT)
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Precision Agriculture Technology Market Size Forecast by Applications
12.10.1 Farmland & Farms
12.10.2 Agricultural Cooperatives
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Precision Agriculture Technology Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Precision Agriculture Technology Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Precision Agriculture Technology Market Size Forecast by Type
13.6.1 Guidance System
13.6.2 Remote Sensing
13.6.3 Variable Rate Technology (VRT)
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Precision Agriculture Technology Market Size Forecast by Applications
13.10.1 Farmland & Farms
13.10.2 Agricultural Cooperatives
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Precision Agriculture Technology Market: Competitive Dashboard
14.2 Global Precision Agriculture Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Motorola
14.3.2 IRRIOT
14.3.3 SST(Proagrica)
14.3.4 Precision Irrigation
14.3.5 CropMetrics LLC
14.3.6 Trimble Agriculture
14.3.7 CropX
14.3.8 Valmont Industries
14.3.9 Dickey-John Corporation
14.3.10 Monsanto Company
14.3.11 Ag Leader Technology
14.3.12 AgJunction
14.3.13 Raven Industries
14.3.14 Topcon Positioning Systems
14.3.15 TeeJet Technologies
