Global Precision Agriculture Market Forecast to 2030
Emergen Research’s latest market research report focuses on the global Precision Agriculture market, and the report provides in-depth analysis of each of its major segments. Reports about the global Precision Agriculture market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfoliosPrecision Agriculture industry projections and qualitative and quantitative assessments have been provided by the report's authors
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 laborexpenses. 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, fertilizerapplication, 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.
Rising demand for smartphone integration in precision agriculture has been driven by rise in smartphone popularity. Companies have developed sophisticated programs that are compatible with all smartphones. Farmers may monitor the field from anywhere, and the data is stored in the cloud as a backup through smartphone connectivity. Smartphones satisfy farmers' demands since they provide connectivity via Bluetooth, USB, and Wi-Fi. As a result, rising use of smartphones has generated significant revenue growth in the global precision agricultural market. Farmers in developing countries have adopted advanced technology, and use of smartphones in farming activities has helped them achieve almost double revenue and productivity of several other farmers
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How will this Report Benefit you?
An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global Precision Agriculture market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for Precision Agriculture. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.
Competitive Terrain:
The global Precision Agriculture industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
AG Leader Technology, Deere Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems.
The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
Market Segmentations of the Precision Agriculture Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Precision Agriculture market on the basis of product, application, and region:
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2017-2027)
- Hardware
- Automation Control Systems
- Displays
- Guidance Steering
- GPS GNSS
- Drones, UAV Cameras
- Others
- Sensing and Monitoring Device
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Automation Control Systems
- Hardware
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Guidance Technology
- Remote Sensing
- Variable-Rate Technology
Application Outlook (Revenue, USD Billion; 2017-2027)
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Financial Management
- Others
Regional Outlook of the Precision Agriculture Market
The global Precision Agriculture market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Precision Agriculture market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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What Questions Should You Ask before Buying a Market Research Report?
- How is the Precision Agriculture market evolving?
- What is driving and restraining the Precision Agriculture market?
- How will each Precision Agriculture submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
- How will the market shares for each Precision Agriculture submarket develop from 2022 to 2030?
- What will be the main driver for the overall market from 2022 to 2030?
- Will leading Precision Agriculture markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
- Who are the leading players and what are their prospects over the forecast period?
- What are the Precision Agriculture projects for these leading companies?
- How will the industry evolve during the period between 2020 and 2030? What are the implications of Precision Agriculture projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the Precision Agriculture market?
- Where is the Precision Agriculture market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
In conclusion, the Precision Agriculture Market report is an exhaustive database that will help readers formulate lucrative strategies. The Precision Agriculture Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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