Precision Agriculture Market Size to Reach over $9 Billion by 2023 – Arizton

The global precision agriculture market size is expected to reach revenues more than $9 billion by 2023, growing at an impressive CAGR of around 16% by 2017–2023. 

The smart use of technology to enable better decision making and optimized use of resources on farms is propelling the global precision agriculture market growth. The growing requirement to achieve higher yields and effectively meet the growing demand for food will boost the demand in the global precision farming market. This form of farming involves the deployment of a web of sensors, drones, and software to gather, process, and analyze data to derive actionable insights for on-farm decisions.

The global precision agriculture market is driven by the rising environmental awareness, growing resource costs, and impending regulatory challenges. The encroachment of forest land, indiscriminate water consumption and wastage, unscientific usage of pesticides, and fertilizers to achieve short-term productivity will propel the demand in the global precision farming market. The market research report provides in-depth market analysis and segmental analysis of the global precision agriculture market by applications, components, and geography.

The study considers the present scenario of the global precision agriculture market and its market dynamics for the period 2018−2023. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply side of the precision farming market. Also, the study profiles and analyzes various leading and other prominent market participants across applications, components, and geography in the market.


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Precision Agriculture Market – Vendor Profile


Major Vendors

  •  AgJunction
  • Trimble Navigation
  • AGCO Corp
  • Deere & Company
  • Topcon Corp


Prominent Players

  • Ag Leader Technology
  • DICKEY – John Corporation
  • Precision Planting Company
  • Lindsay Corp.
  • Raven Industries
  • Novaraint Inc.
  • SST Software
  • TeeJet Technologies
  • Valmont Industries
  • Yara International


Precision Agriculture Market – Segmentation


Market Segmentation by Application

  • Systems Guidance and Monitoring Systems
    • GIS
    • GNSS
    • Remote Sensing
  • Variable Rate Technology
  • Telematics

Market Segmentation by Components

  • Hardware
    • Drones
    • GPS Devices
    • Sensors
    • Others
  • Software

Market Segmentation by Geography

  • North Americas
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Spain
  • APAC
    • China
    • India
    • Australia
  • Latin America
  • MEA


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Precision Agriculture Market – Table of Contents


1          Research Methodology

2          Research Objectives

3          Research Process


4          Report Coverage

4.1       Precision Agriculture Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by Component

4.3.2   Market Segmentation by Application

4.3.3   Market Segmentation by Geography


5          Report Assumptions & Caveats

5.1       Key Caveats

5.2       Inclusions

5.3       Exclusions

5.4       Currency Conversion

5.5       Precision Agriculture Market Derivation


6          Precision Agriculture Market at a Glance


7          Introduction

7.1       Overview


8          Market Dynamics

8.1       Market Growth Enablers

8.1.1   Proliferation of Mobile Connectivity and Smartphones

8.1.2   Volatile Prices of Commodities and Input Raw Materials

8.1.3   Increased Food Demand due to Population Growth

8.1.4   Federal Intervention and Initiatives to Boost Productivity and Efficiency in Agriculture

8.1.5   YOY Impact of Market Growth Enablers

8.1.6   YOY Impact of Market Growth Enablers on Regions

8.2       Market Growth Restraints

8.2.1   Skepticism over Misuse of Farm Data

8.2.2   Huge Capital Investments Deter Initial Adoption

8.2.3   Lack of Awareness and Need for Knowledge Framework

8.2.4   YOY Impact of Market Growth Restraints

8.2.5   YOY Impact of Market Growth Restraints on Regions

8.3       Market Opportunities & Trends

8.3.1   Regulatory Frameworks to Impart Better Clarity on UAV Usage

8.3.2   Big Data and Internet of Agriculture Things

8.3.3   Worldwide Increase in Minimum Labor Wages Warrants the Need to Control Input Costs

8.3.4   YOY Impact of Market Opportunities & Trends

8.3.5   YOY Impact of Market Opportunities & Trends on Regions


9          Global Precision Agriculture Market

9.1       Market Overview

9.1.1   Market Size & Forecast 2017–2023

9.2       Porter’s Five Forces Analysis

9.2.1   Threat of New Entrants

9.2.2   Bargaining Power of Suppliers

9.2.3   Bargaining Power of Buyers

9.2.4   Threat of Substitutes

9.2.5   Competitive Rivalry


10        Global Precision Agriculture Market by Application

10.1    Market Overview

10.2    Guidance and Monitoring Systems

10.2.1 Market Size & Forecast

10.2.2 GNSS: Market Size & Forecast

10.2.3 GIS: Market Size & Forecast

10.2.4 Remote Sensing: Market Size & Forecast

10.3    Variable Rate Technology

10.3.1 Market Size & Analysis

10.3.2 Variable Rate Fertilizer

10.3.3 Variable Rate Pesticides

10.3.4 Variable Rate Seeding

10.4    Telematics

10.4.1 Market Size & Forecast


11        Global Precision Agriculture Market by Component

11.1    Market Overview

11.2    Hardware

11.2.1 Market Size & Analysis

11.2.2 Sensors: Market Size & Forecast

11.2.3 Drones: Market Size & Forecast

11.2.4 GPS Devices: Market Size & Forecast

11.3    Software

11.3.1 Market Size & Analysis


12        Global Precision Agriculture Market by Geography

12.1    Market Overview


13        APAC: Precision Agriculture Market

13.1    Market Overview

13.1.1 Market Size & Forecast 2017–2023

13.2    Segmentation by Application

13.3    Segmentation by Component

13.4    Key Countries

13.4.1 China: Market Size & Forecast

13.4.2 India: Market Size & Forecast

13.4.3 Australia: Market Size & Forecast

13.4.4 Other Countries: Market Size & Forecast


14        EMEA: Precision Agriculture Market

14.1    Market Overview

14.1.1 Market Size & Forecast 2017–2023


15        Europe: Precision Agriculture Market

15.1    Market Overview

15.1.1 Market Size & Forecast 2017–2023

15.2    Segmentation by Applications

15.3    Segmentation by Components

15.4    Key Countries

15.4.1 France: Market Size & Forecast

15.4.2 Germany: Market Size & Forecast

15.4.3 Spain: Market Size & Forecast

15.4.4 Other Countries: Market Size & Forecast


16        MEA: Precision Agriculture Market

16.1    Market Overview

16.1.1 Market Size & Forecast 2017–2023

16.2    Segmentation by Application

16.3    Segmentation by Components


17        North America: Precision Agriculture Market

17.1    Market Overview

17.1.1 Market Size & Forecast 2017–2023

17.2    Segmentation by Application

17.3    Segmentation by Components

17.4    Key Countries

17.4.1 US: Market Size & Forecast

17.4.2 Canada: Market Size & Forecast


18        Latin America: Precision Agriculture Market

18.1    Market Overview

18.2    Segmentation by Application

18.3    Segmentation by Components


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