A novel report on global Precision Agriculture market is published by Emergen Research, offering current developments and emerging trends of the market. The report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. The report covers all crucial and essential information related to global Precision Agriculture market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.

The global precision agriculture market size reached USD 6.98 Billion in 2021 and is expected to register a revenue CAGR of 12.9% during the forecast period, according to latest analysis by Emergen Research. Increasing use of advanced agricultural techniques and smartphones are major factors expected to drive market revenue growth between 2022 and 2030. Additionally, growing usage of variable rate, remote sensing, and guiding technology in precision agriculture will drive market revenue growth. Precision agriculture technologies including Variable Rate Technology (VRT), remote sensing, Global Positioning System (GPS), Geographical Information System (GIS), and guiding technology have enhanced output while lowering labor expenses. Moreover, development of cutting-edge technology-based farming machinery has facilitated most efficient use of resources. Precision farming technology based on modern technology not only contributes to bottom-line savings by cutting labor costs but also significantly improves agricultural operations. Weeding, fertilizer application, and site management are tasks performed before harvesting that account for 50–70% of farm operating costs. Drones equipped with cameras are used in precision agriculture for spraying, weeding, pruning, and harvesting. These drones generate hyperspectral pictures, allowing farmers to monitor field activity.

The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Precision Agriculture market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Companies profiled in the global Precision Agriculture market:

AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems.

The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.

Precision Agriculture Market segmentation

Type Outlook:

• 
  

  Component Outlook (Revenue, USD Billion; 2017-2027)

  
  
  
  
  • Hardware
    
    
    
    1. Automation & Control Systems
       
       
       
       1. Displays
       
       
       2. Guidance & Steering
       
       
       3. GPS & GNSS
       
       
       4. Drones, UAV & Cameras
       
       
       5. Others
       
       
    
    
    2. Sensing and Monitoring Device
       
       
       
       1. Yield Monitors
       
       
       2. Soil Sensors
       
       
       3. Water Sensors
       
       
       4. Climate Sensors
       
       
    
    
  
  

• 
  

  Component Outlook (Revenue, USD Billion; 2017-2027)

  
  
  
  
  • Hardware
    
    
    
    1. Automation & Control Systems
       
       
       
       1. Displays
       
       
       2. Guidance & Steering
       
       
       3. GPS & GNSS
       
       
       4. Drones, UAV & Cameras
       
       
       5. Others
       
       
    
    
    2. Sensing and Monitoring Device
       
       
       
       1. Yield Monitors
       
       
       2. Soil Sensors
       
       
       3. Water Sensors
       
       
       4. Climate Sensors
       
       
    
    
  
  

• 
  

  Component Outlook (Revenue, USD Billion; 2017-2027)

  
  
  
  
  • Hardware
    
    
    
    1. Automation & Control Systems
       
       
       
       1. Displays
       
       
       2. Guidance & Steering
       
       
       3. GPS & GNSS
       
       
       4. Drones, UAV & Cameras
       
       
       5. Others
       
       
    
    
    2. Sensing and Monitoring Device
       
       
       
       1. Yield Monitors
       
       
       2. Soil Sensors
       
       
       3. Water Sensors
       
       
       4. Climate Sensors
       
       
    
    
  
  

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Key Highlights from the Report

• Software segment is expected to expand at a substantially rapid revenue CAGR during the forecast period, due to growing need to analyze, monitor, and maximize agriculture production and profits while conserving natural resources


• Weather tracking segment is expected to expand at a significant revenue CAGR during the forecast period as the agriculture industry is becoming more vulnerable to unfavorable weather conditions, and demand for actionable information promptly increases. Real-time weather data assist farmers in increasing productivity and lowering costs and decreasing crop damage risks


• Yield monitoring segment is expected to register a rapid revenue growth rate over the forecast period as it is important for understanding field variability as well as helping farmers in maximizing farm yields


• North America is expected to register a considerable revenue growth rate in precision agriculture market over the forecast period due to high presence of companies offering various hardware, software, and services for precision agriculture such as AG Leader Technology (U.S.), Deere & Company, Trimble, Inc. (U.S.), and AGCO Corporation (U.S.) in countries in the region.

Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Outlook of Precision Agriculture Market:

• North America
  
  
  
  • S.
  
  
  • Canada
  
  
  • Mexico
  
  


• Europe
  
  
  
  • Germany
  
  
  • K.
  
  
  • Italy
  
  
  • France
  
  
  • BENELUX
  
  
  • Rest of Europe
  
  


• Asia Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Rest of APAC
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Rest of LATAM
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • A.E.
  
  
  • South Africa
  
  
  • Rest of MEA
  
  

Key Features of the Precision Agriculture Market Report:

• The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats


• The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares


• Evaluation of key current and emerging market trends and growth prospects


• It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth


• Brief overview of industry with regards to research and development, technological advancements, and product development


• In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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