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 - Global Forecast to 2025

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 - Global Forecast to 2025

Precision farming market anticipated to grow at CAGR of 12.7% from 2020 to 2025. The precision farming market is expected to grow from USD 7.0 billion in 2020 to USD 12.8 billion by 2025, at a CAGR of 12.7%. Major drivers for the precision farming market include the high demand for agricultural products due to population growth, increased adoption of VRT, remote sensing and guidance technologies by worldwide farmers, substantial cost cutting achieved by the implementation of modern agricultural techniques, and strong government support for promoting the use of precision farming techniques. Major restraints for the precision farming market include the high upfront cost of modern agriculture equipment and the limited technical knowledge and skills of farmers or growers. Precision farming requires large initial investments, efficient farming tools, and skilled labor.

Market for variable-rate technology (VRT) estimated to grow at highest CAGR during forecast period
The wide adoption of VRT in precision farming is because of various benefits associated with it. VRT allows input application rates to be varied across fields for site-specific management of the field variability. This technology helps in reducing the input usage, thereby decreasing environmental impacts such as greenhouse gas emission, soil erosion and degradation, and genetic erosion. The market for VRT is expected to grow at a higher CAGR than that for other technologies as this technology helps in applying the right amount of input at the right place on the field, which minimizes the input waste and increases land and crop productivity. Other technologies such as remote sensing and variable rate technology are also expected to grow at a significant rate during the forecast period. Variable-rate technology (VRT) enables the variable application of inputs and allows farmers to control the amount of inputs they apply in a specific location. VRT mounted on equipment allows the input application rates to be varied across fields for site-specific management of field variability.

Market for weather tracking and forecasting application to grow at higher CAGR during forecast period
Increasing demand for climate information services owing to their benefits that enable farmers to deal with climate change and variability to improve decision-making in agriculture is the major reason behind the high growth of the market for weather tracking and forecasting between 2020 and 2025. Moreover, the increasing demand for the cloud platform for climate services is a major factor propelling the growth of the precision farming market for this application. A variable rate application is expected to witness an attractive rate of growth during the forecast period. Variable rate application involves the use of technologies such as weather-based controllers, rain sensors, temperature sensors, network elements, water meters, and sensor-based controllers. The increasing demand for water conservation and food production, and reduction in the wastage of resources are the major driving factors for the growing adoption of precision tools for variable rate applications.

Precision farming market in APAC to grow at highest CAGR during forecast period
The increasing adoption of precision farming technologies such as guidance system, remote sensing, and variable-rate technology by farmers in APAC is expected to propel the growth of the precision farming market during the forecast period. The adoption rate of precision farming techniques is expected to grow at a high rate in APAC as this region comprises emerging countries such as India and China, as well as other Southeast Asian countries. Rapidly increasing population, the availability of arable farms, and government support through subsidies are the factors driving the adoption of smart agriculture techniques in APAC.

The precision farming market in Europe is expected to witness an attractive growth rate during the forecast period. The precision farming market in Europe exhibits a high degree of professionalism and technological adoption similar to the US. Europe also relies on a well-established ecosystem, as well as public and private investment capacities.

The breakup of primaries conducted during the study is depicted below:
By Company Type: Tier 1 – 35 %, Tier 2 – 40%, and Tier 3 –25%
By Designation: C-level Executives – 57%, Directors – 29%, and Others – 14%
By Region: Americas– 40%, Europe – 30%, APAC – 20%, and RoW – 10%

Key players operating in the precision farming market are Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader (US), The Climate Corporation (US), Descartes Labs (US), ec2ce (Spain), Teejet Technologies (US), Topcon Positioning Systems (US), Taranis (Israel), AgEagle (US), Descartes Labs (US), Granular (US), Prospera Technologies (Israel), Autonomous Tractor Corporation (US), Hexagon Agriculture (Brazil), CropX Technologies (Israel), and Autocopter Corp (US).

Research Coverage
This report covers the precision farming market based on offering, technology, application, and region. The precision farming market based on offering has been segmented into hardware, software, and services. Based on application, the precision farming market has been segmented into yield monitoring, field mapping, crop scouting, weather tracking and forecasting, variable rate application, inventory management, farm labor management, financial management, and others. Based on technology, the precision farming market has been classified into the guidance system, remote sensing, and variable-rate technology (VRT). Based on region, the precision farming market has been segmented into the Americas, Europe, APAC, and RoW.

Key Benefits of Buying This Report
This report includes the market statistics pertaining to offering, application, technology, and region, along with their respective market size.
An in-depth analysis of the value chain has been done to provide in-depth insight into the precision farming market.
Major drivers, restraints, challenges, and opportunities pertaining to the precision farming market have been detailed in this report.
Illustrative segmentation, analysis, and forecast for the market based on offering, application, technology, and region have been conducted to provide an overall view of the precision farming market.
The report includes an in-depth analysis and ranking of key players.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • MARKET DEFINITION AND SCOPE
    • STUDY SCOPE
      • MARKETS COVERED
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE PRECISION FARMING MARKET
    • PRECISION FARMING MARKET IN APAC, BY APPLICATION
    • PRECISION FARMING MARKET, BY OFFERING
    • PRECISION FARMING MARKET, BY TECHNOLOGY
    • GEOGRAPHIC ANALYSIS OF PRECISION FARMING MARKET
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
      • WINNING IMPERATIVES
  • INDUSTRY TRENDS
    • INTRODUCTION
    • VALUE CHAIN ANALYSIS
      • MAJOR PLAYERS IN PRECISION FARMING MARKET
    • SUPPLY CHAIN ANALYSIS
    • TECHNOLOGY ROADMAP
      • TECHNOLOGY ROADMAP (2010-2025)
      • KEY INDUSTRY TRENDS
  • PRECISION FARMING MARKET, BY OFFERING
    • INTRODUCTION
      • Table PRECISION FARMING MARKET, BY OFFERING, 2017-2025 (USD MILLION)
    • HARDWARE
      • Table PRECISION FARMING MARKET FOR HARDWARE, BY TYPE, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET FOR HARDWARE, BY REGION, 2017-2025 (USD MILLION)
      • AUTOMATION AND CONTROL SYSTEMS
        • Table PRECISION FARMING MARKET FOR AUTOMATION AND CONTROL SYSTEMS, BY DEVICE TYPE, 2017-2025 (THOUSAND UNITS)
        • Table PRECISION FARMING MARKET FOR AUTOMATION AND CONTROL SYSTEMS, BY DEVICE TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR AUTOMATION AND CONTROL SYSTEMS, BY REGION, 2017-2025 (USD MILLION)
      • SENSING AND MONITORING DEVICES
        • Table PRECISION FARMING MARKET FOR SENSING AND MONITORING DEVICES, BY DEVICE TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR SOIL SENSORS, BY SENSOR TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR SENSING AND MONITORING DEVICES, BY REGION, 2017-2025 (USD MILLION)
    • SOFTWARE
      • LOCAL/WEB BASED
      • CLOUD BASED
        • Table PRECISION FARMING MARKET FOR SOFTWARE, BY DEPLOYMENT TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR SOFTWARE, BY REGION, 2017-2025 (USD MILLION)
    • SERVICES
      • SYSTEM INTEGRATION AND CONSULTING SERVICES
      • MANAGED SERVICES
      • CONNECTIVITY SERVICES
      • ASSISTED PROFESSIONAL SERVICES
      • MAINTENANCE AND SUPPORT SERVICES
        • Table PRECISION FARMING MARKET FOR SERVICES, BY TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR SERVICES, BY REGION, 2017-2025 (USD MILLION)
  • PRECISION FARMING MARKET, BY TECHNOLOGY
    • INTRODUCTION
      • Table PRECISION FARMING MARKET, BY TECHNOLOGY, 2017-2025 (USD MILLION)
    • GUIDANCE TECHNOLOGY
      • GPS/GNSS-BASED GUIDANCE TECHNOLOGY
      • GIS-BASED GUIDANCE TECHNOLOGY
        • Table PRECISION FARMING MARKET FOR GUIDANCE TECHNOLOGY, BY TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR GUIDANCE TECHNOLOGY, BY REGION, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR GUIDANCE TECHNOLOGY, BY OFFERING, 2017-2025 (USD MILLION)
    • REMOTE SENSING TECHNOLOGY
      • HANDHELD OR GROUND-BASED SENSING
      • SATELLITE OR AERIAL SENSING
        • Table TYPES OF SATELLITE REMOTE SENSING IMAGE RESOLUTION
        • Table PRECISION FARMING MARKET FOR REMOTE SENSING TECHNOLOGY, BY SYSTEM TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR REMOTE SENSING TECHNOLOGY, BY REGION, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR REMOTE SENSING TECHNOLOGY, BY OFFERING, 2017-2025 (USD MILLION)
    • VARIABLE RATE TECHNOLOGY
      • MAP-BASED VRT
      • SENSOR-BASED VRT
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE TECHNOLOGY, BY TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE TECHNOLOGY, BY REGION, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE TECHNOLOGY, BY OFFERING, 2017-2025 (USD MILLION)
  • PRECISION FARMING MARKET, BY APPLICATION
    • INTRODUCTION
      • Table PRECISION FARMING MARKET, BY APPLICATION, 2017-2025 (USD MILLION)
    • YIELD MONITORING
      • ON-FARM YIELD MONITORING HELD THE LARGEST MARKET SHARE OF YIELD MONITORING APPLICATION IN 2019
        • Table BENEFITS OF YIELD MONITORING
      • ON-FARM YIELD MONITORING
      • OFF-FARM YIELD MONITORING
        • Table PRECISION FARMING MARKET FOR YIELD MONITORING APPLICATION, BY TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR YIELD MONITORING APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR YIELD MONITORING APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • FIELD MAPPING
      • MARKET FOR DRAINAGE MAPPING TYPE TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
      • BOUNDARY MAPPING
      • DRAINAGE MAPPING
        • Table PRECISION FARMING MARKET FOR FIELD MAPPING APPLICATION, BY TYPE, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR FIELD MAPPING APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR FIELD MAPPING APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • CROP SCOUTING
      • RISING NEED FOR CROP MANAGEMENT TO PROPEL GROWTH OF CROP SCOUTING APPLICATION
        • Table PRECISION FARMING MARKET FOR CROP SCOUTING APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR CROP SCOUTING APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • WEATHER TRACKING AND FORECASTING
      • MARKET FOR WEATHER TRACKING AND FORECASTING APPLICATION TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
        • Table PRECISION FARMING MARKET FOR WEATHER TRACKING AND FORECASTING APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR WEATHER TRACKING AND FORECASTING APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • VARIABLE RATE APPLICATION
      • VARIABLE RATE APPLICATION TO WITNESS STEADY GROWTH IN PRECISION FARMING MARKET DURING FORECAST PERIOD
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE APPLICATION, BY REGION, 2017-2025 (USD MILLION)
      • PRECISION IRRIGATION
      • PRECISION SEEDING
      • PRECISION FERTILIZATION
      • PESTICIDE VRA
        • Table PRECISION FARMING MARKET FOR VARIABLE RATE APPLICATION, BY TYPE, 2017-2025 (USD MILLION)
    • INVENTORY MANAGEMENT
      • GROWING DEMAND FOR GPS FOR INVENTORY MANAGEMENT TO PROPEL MARKET GROWTH
        • Table PRECISION FARMING MARKET FOR INVENTORY MANAGEMENT APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR INVENTORY MANAGEMENT APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • FARM LABOR MANAGEMENT
      • INCREASING NEED FOR EFFECTIVE HANDLING OF LABOR TO DRIVE DEMAND FOR FARM LABOR MANAGEMENT
        • Table PRECISION FARMING MARKET FOR FARM LABOR MANAGEMENT APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR FARM LABOR MANAGEMENT APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • FINANCIAL MANAGEMENT
      • FINANCIAL MANAGEMENT HELPS FARMERS OR GROWERS TO MAKE STRATEGIC DECISIONS
        • Table PRECISION FARMING MARKET FOR FINANCIAL MANAGEMENT APPLICATION, BY OFFERING, 2017-2025 (USD MILLION)
        • Table PRECISION FARMING MARKET FOR FINANCIAL MANAGEMENT APPLICATION, BY REGION, 2017-2025 (USD MILLION)
    • OTHERS
      • Table PRECISION FARMING MARKET FOR OTHER APPLICATIONS, BY OFFERING, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET FOR OTHER APPLICATIONS, BY REGION, 2017-2025 (USD MILLION)
  • GEOGRAPHIC ANALYSIS
    • INTRODUCTION
      • Table PRECISION FARMING MARKET, BY REGION, 2017-2025 (USD MILLION)
    • AMERICAS
      • Table PRECISION FARMING MARKET IN AMERICAS, BY OFFERING, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN AMERICAS, BY APPLICATION, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN AMERICAS, BY TECHNOLOGY, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN AMERICAS, BY REGION, 2017-2025 (USD MILLION)
      • NORTH AMERICA
        • Table PRECISION FARMING MARKET IN NORTH AMERICA, BY COUNTRY, 2017-2025 (USD MILLION)
      • SOUTH AMERICA
        • Table PRECISION FARMING MARKET IN SOUTH AMERICA, BY COUNTRY, 2017-2025 (USD MILLION)
    • EUROPE
      • Table PRECISION FARMING MARKET IN EUROPE, BY OFFERING, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN EUROPE, BY APPLICATION, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN EUROPE, BY TECHNOLOGY, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN EUROPE, BY COUNTRY, 2017-2025 (USD MILLION)
      • GERMANY
      • UK
      • FRANCE
      • ITALY
      • NETHERLANDS
      • REST OF EUROPE
    • APAC
      • Table PRECISION FARMING MARKET IN APAC, BY OFFERING, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN APAC, BY APPLICATION, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN APAC, BY TECHNOLOGY, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN APAC, BY COUNTRY, 2017-2025 (USD MILLION)
      • CHINA
      • JAPAN
      • AUSTRALIA
      • INDIA
      • SOUTH KOREA
      • REST OF APAC
    • REST OF THE WORLD
      • Table PRECISION FARMING MARKET IN ROW, BY OFFERING, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN ROW, BY APPLICATION, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN ROW, BY TECHNOLOGY, 2017-2025 (USD MILLION)
      • Table PRECISION FARMING MARKET IN ROW, BY GEOGRAPHY, 2017-2025 (USD MILLION)
      • AFRICA
      • MIDDLE EAST
      • RUSSIA
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • PRECISION FARMING MARKET RANKING ANALYSIS
    • COMPETITIVE LEADERSHIP MAPPING, 2019
      • VISIONARY LEADERS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • RECENT DEVELOPMENTS
      • PRODUCT LAUNCHES & DEVELOPMENTS
        • Table PRODUCT LAUNCHES AND DEVELOPMENTS, 2017-2020
      • AGREEMENTS, PARTNERSHIPS, AND COLLABORATIONS
        • Table PARTNERSHIPS, AGREEMENTS, AND COLLABORATIONS, 2017-2020
      • MERGERS AND ACQUISITIONS
        • Table MERGER AND ACQUISITIONS, 2017-2019
  • COMPANY PROFILES
    • KEY PLAYERS
      • DEERE & COMPANY
      • TRIMBLE
      • AGCO
      • AGJUNCTION
      • RAVEN INDUSTRIES
      • AG LEADER TECHNOLOGY
      • AGEAGLE
      • TEEJET TECHNOLOGIES
      • TARANIS
      • TOPCON POSITIONING SYSTEMS
    • OTHER IMPORTANT PLAYERS
      • HEXAGON AGRICULTURE
      • GRANULAR
      • PROSPERA TECHNOLOGIES
      • AUTONOMOUS TRACTOR CORPORATION
      • AUTOCOPTER CORP.
    • START-UP ECOSYSTEM
      • THE CLIMATE CORPORATION (SUBSIDIARY OF MONSANTO)
      • VISION ROBOTICS
      • CROPX TECHNOLOGIES
      • DESCARTES LABS
      • EC2CE
  • APPENDIX
    • INSIGHTS FROM INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATION
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook