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Report
Global Markets for Precision Farming
Market Research Report I 2023-11-03 I 186 Pages I BCC Research
Description
Report Scope:
This report incorporates an in-depth analysis of the precision farming market, including market estimations and trends through 2028. The report is focused on estimating the market for precision farming, which covers components, hardware, software, and applications. Major players, competitive intelligence, systems and technologies, market dynamics, and regional opportunities are discussed in detail. The report examines recent developments and product portfolios of major players. The report presents a market analysis and estimates the precision farming market's compound annual growth rate (CAGR).
This report segments the global market by these geographic regions: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. For market value, data is provided for 2022 as the base year, estimates for 2023, and a forecast through year-end 2028.
The report also discusses the major players across each regional precision farming market. Further, it explains the major drivers and regional dynamics of the global precision farming market and current trends within the industry. The report concludes with a particular focus on the vendor landscape and includes detailed profiles of the major vendors in the market.
Report Includes:
- 64 data tables and 44 additional tables
- An overview of the global market for precision farming technology
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
- Estimates of the market size, a revenue growth forecast for the precision farming market, and a corresponding analysis of market share by component (hardware/software), application and region
- In-depth information (facts and figures) pertaining to the major factors influencing the market, including drivers, restraints, opportunities and challenges
- Analysis of the market growth opportunities through a holistic review of both Porter's Five Forces and PESTLE models, taking into consideration the prevailing micro- and macroenvironmental factors
- Coverage of the technological, economic and business considerations within the global market, with market growth forecasts to 2028
- A discussion of the impact of ESG factors on company performance, ratings and matrices; consumer attitudes; and ESG practices followed
- A look at the major vendors and an analysis of the industry structure with respect to company shares, M&A activity and venture funding
- Company profiles of major players within the industry, including Deere & Co., Trimble Inc., AGCO Corp., CNH Industrial N.V., and Raven Industries Inc.
Executive Summary
Summary:
Overall, the global precision farming market was valued at $REDACTED billion in 2022 and should reach $REDACTED billion in 2028. With the global population steadily increasing, the demand for food is rising. Precision farming addresses this challenge by helping to enhance crop yields and optimize resource use to meet the growing food requirements of a larger population. Precision farming promotes sustainable practices by integrating technologies such as sensors and data analytics. It enables farmers to monitor soil health, optimize irrigation and use fertilizers more efficiently. This reduces resource waste, minimizes environmental impact and ensures long-term agricultural sustainability.
The global precision farming market represents a transformative revolution at the intersection of agriculture and technology. It is characterized by integrating cutting-edge technologies such as data analytics, sensors, automation, and connectivity into traditional farming practices. This fusion of innovation is reshaping the agricultural landscape, making it more sustainable, productive and responsive to the challenges of the 21st century.
The global market for precision farming reached $REDACTED billion in 2022. The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to reach $REDACTED billion during the forecast period. Key factors driving the precision farming market include the imperative for sustainability, food security concerns driven by population growth, and the need to optimize resource usage in a world facing resource scarcity. The convergence of these factors has propelled precision farming from being a mere trend to a fundamental reimagining of agricultural methodology. The following figure shows the regional share in the global precision farming market.
Table of Contents
Chapter 1 Introduction
Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
What's New in this Update?
Methodology
Information Sources
Geographic Breakdown
Market Segmentation Overview
Chapter 2 Summary and Highlights
Market Outlook
Market Summary
Chapter 3 Industry Overview
Industry Overview
Supply Chain Analysis
Value Chain Analysis
Regulatory Framework
Current Trends in the Market
Chapter 4 Market Overview and Trends
Market Dynamics
Market Growth Drivers
Market Challenges
Market Opportunities
Porter's Five Forces Analysis
Chapter 5 Global Market Analysis by Solution
Segment Overview
Hardware Segment
Software Segment
Market Size Estimation and Forecast Analysis
Chapter 6 Global Market Analysis by Hardware
Segment Overview
GPS/GNSS Systems (Global Navigation Satellite Systems)
Sensors (soil, weather, crop)
Drones and UAVs (Unmanned Aerial Vehicles)
Variable Rate Technology (VRT)
Guidance and Steering Systems
Other Hardware
Market Size Estimation and Forecast Analysis
Chapter 7 Global Market Analysis by Software
Segment Overview
Farm Management Software
Geographic Information Systems (GIS)
Remote Sensing and Imaging Software
Data Analytics and Visualization Tools
Weather Forecasting Software
Other Software
Market Size Estimation and Forecast Analysis
Chapter 8 Global Market Analysis by Application
Segment Overview
Crop Management
Livestock Monitoring
Precision Irrigation
Soil Health Management
Fertilizer and Pesticide Management
Other Applications
Market Size Estimation and Forecast Analysis
Chapter 9 North American Market for Precision Farming
Regional Market Overview
U.S. Market Analysis
Canada Market Analysis
Chapter 10 European Market for Precision Farming
Regional Market Overview
Russian Market Analysis
France Market Analysis
Ukrainian Market Analysis
Spain Market Analysis
German Market Analysis
Rest of Europe Market Analysis
Chapter 11 Asia-Pacific Market for Precision Farming
Regional Market Overview
Chinese Market Analysis
Indian Market Analysis
Japanese Market Analysis
Indonesian Market Analysis
Australian Market Analysis
Rest of APAC Market Analysis
Chapter 12 Latin American Market for Precision Farming
Regional Market Overview
Brazilian Market Analysis
Mexican Market Analysis
Argentinian Market Analysis
Rest of Latin America Market Analysis
Chapter 13 Middle East & African Market for Precision Farming
Regional Market Overview
Saudi Arabian Market Analysis
Moroccan Market Analysis
Israel Market Analysis
Rest of the MEA Market Analysis
Chapter 14 ESG Development
ESG Practices in the Precision Farming Industry
ESG Risk Analysis in the Global Precision Farming Market
Environmental Factors
Social Factors
Governance Factors
ESG Integration and Reporting
Case Study: Farmers Business Network (FBN)
ESG Initiatives by the Company
Impact of ESG initiatives
ESG Future Outlook
Concluding Remark from BCC
Chapter 15 Company Profiles
AGCO CORP.
AGJUNCTION INC.
AG LEADER TECHNOLOGY INC.
THE CLIMATE CORP.
CNH INDUSTRIAL N.V.
CORTEVA INC.
CROPX TECHNOLOGIES LTD.
DEERE & CO.
DICKEY-JOHN CORP.
FARMERS EDGE INC.
HEXAGON AB
KUBOTA CORP.
PRECISIONHAWK INC.
RAVEN INDUSTRIES INC.
SENTERA LLC
SITE-SPECIFIC TECHNOLOGIES SOFTWARE
SST DEVELOPMENT GROUP INC.
TARANIS
TEEJET TECHNOLOGIES
TOPCON CORP.
THE TORO CO.
TRIMBLE INC.
List of Tables
Table A : Global Market Forecast for Precision Farming, Through 2028
Summary Table : Global Market for Precision Farming, by Region, Through 2028
Table 1 : Global Market for Precision Farming, by Solution, Through 2028
Table 2 : Global Market for Hardware in Precision Farming, Through 2028
Table 3 : Global Market for Software in Precision Farming, Through 2028
Table 4 : Global Market for Precision Farming, by Application, Through 2028
Table 5 : North American Market for Precision Farming, Through 2028
Table 6 : North American Market for Precision Farming, by Solution, Through 2028
Table 7 : North American Market for Precision Farming, by Type of Hardware, Through 2028
Table 8 : North American Market for Precision Farming, by Type of Software, Through 2028
Table 9 : North American Market for Precision Farming, by Application, Through 2028
Table 10 : U.S. Market for Precision Farming, Through 2028
Table 11 : Canadian Market for Precision Farming, Through 2028
Table 12 : European Market for Precision Farming, Through 2028
Table 13 : European Market for Precision Farming, by Solution, Through 2028
Table 14 : European Market for Precision Farming, by Type of Hardware, Through 2028
Table 15 : European Market for Precision Farming, by Type of Software, Through 2028
Table 16 : European Market for Precision Farming, by Application, Through 2028
Table 17 : Russian Market for Precision Farming, Through 2028
Table 18 : French Market for Precision Farming, Through 2028
Table 19 : Ukrainian Market for Precision Farming, Through 2028
Table 20 : Spanish Market for Precision Farming, Through 2028
Table 21 : German Market for Precision Farming, Through 2028
Table 22 : Rest of European Market for Precision Farming, Through 2028
Table 23 : Asia-Pacific Market for Precision Farming, Through 2028
Table 24 : Asia-Pacific Market for Precision Farming, by Solution, Through 2028
Table 25 : Asia-Pacific Market for Precision Farming, by Type of Hardware, Through 2028
Table 26 : Asia-Pacific Market for Precision Farming, by Type of Software, Through 2028
Table 27 : Asia-Pacific Market for Precision Farming, by Application, Through 2028
Table 28 : Chinese Market for Precision Farming, Through 2028
Table 29 : Indian Market for Precision Farming, Through 2028
Table 30 : Japanese Market for Precision Farming, Through 2028
Table 31 : Indonesian Market for Precision Farming, Through 2028
Table 32 : Australian Market for Precision Farming, Through 2028
Table 33 : Rest of Asia-Pacific Market for Precision Farming, Through 2028
Table 34 : Latin American Market for Precision Farming, Through 2028
Table 35 : Latin American Market for Precision Farming, by Solution, Through 2028
Table 36 : Latin American Market for Precision Farming, by Type of Hardware, Through 2028
Table 37 : Latin American Market for Precision Farming, by Type of Software, Through 2028
Table 38 : Latin American Market for Precision Farming, by Application, Through 2028
Table 39 : Brazilian Market for Precision Farming, Through 2028
Table 40 : Mexican Market for Precision Farming, Through 2028
Table 41 : Argentinian Market for Precision Farming, Through 2028
Table 42 : Rest of Latin American Market for Precision Farming, Through 2028
Table 43 : Middle East and African Market for Precision Farming, Through 2028
Table 44 : Middle East and African Market for Precision Farming, by Solution, Through 2028
Table 45 : Middle East and African Market for Precision Farming, by Type of Hardware, Through 2028
Table 46 : Middle East and African Market for Precision Farming, by Type of Software, Through 2028
Table 47 : Middle East and African Market for Precision Farming, by Application, Through 2028
Table 48 : Saudi Arabian Market for Precision Farming, Through 2028
Table 49 : Moroccan Market for Precision Farming, Through 2028
Table 50 : Israel Market for Precision Farming, Through 2028
Table 51 : Rest of the MEA Market for Precision Farming, Through 2028
Table 52 : ESG Initiatives in the Global Precision Farming Market
Table 53 : AGCO Corp.: Annual Financials, 2022
Table 54 : AGCO Corp.: News/Developments, 2021-2023
Table 55 : AGCO Corp.: Product Portfolio
Table 56 : AgJunction Inc.: Annual Financials, 2022
Table 57 : AgJunction Inc.: News/Developments, 2019-2021
Table 58 : AgJunction Inc.: Product Portfolio
Table 59 : Ag Leader Technology Inc.: News/Developments, 2019-2022
Table 60 : Ag Leader Technology Inc.: Product Portfolio
Table 61 : The Climate Corp.: News/Developments, 2019-2023
Table 62 : The Climate Corp.: Product Portfolio
Table 63 : CNH Industrial N.V.: Annual Financials, 2022
Table 64 : CNH Industrial N.V.: News/Developments, 2018-2023
Table 65 : CNH Industrial N.V.: Product Portfolio
Table 66 : Corteva Inc.: Annual Financials, 2022
Table 67 : Corteva Inc.: News/Developments, 2022 and 2023
Table 68 : Corteva Inc.: Product Portfolio
Table 69 : CropX Technologies Ltd.: News/Developments, 2020-2023
Table 70 : CropX Technologies Ltd.: Product Portfolio
Table 71 : Deere & Co.: Annual Financials, 2022
Table 72 : Deere & Co.: News/Developments, 2022 and 2023
Table 73 : Deere & Co.: Product Portfolio
Table 74 : DICKEY-john Corp.: News/Developments, 2022 and 2023
Table 75 : DICKEY-john Corp.: Product Portfolio
Table 76 : Farmers Edge Inc.: Annual Financials, 2022
Table 77 : Farmers Edge Inc.: News/Developments, 2018-2021
Table 78 : Farmers Edge Inc.: Product Portfolio
Table 79 : Hexagon AB: Annual Financials, 2022
Table 80 : Hexagon AB: News/Developments, 2023
Table 81 : Hexagon AB: Product Portfolio
Table 82 : Kubota Corp.: Annual Financials, 2022
Table 83 : Kubota Corp.: News/Developments, 2020-2023
Table 84 : Kubota Corp.: Product Portfolio
Table 85 : PrecisionHawk Inc.: News/Developments, 2019-2023
Table 86 : PrecisionHawk Inc.: Product Portfolio
Table 87 : Raven Industries Inc.: Annual Financials, 2022
Table 88 : Raven Industries Inc.: News/Developments, 2018-2023
Table 89 : Raven Industries Inc.: Product Portfolio
Table 90 : Sentera LLC: News/Developments, 2022 and 2023
Table 91 : Sentera LLC: Product Portfolio
Table 92 : Site-Specific Technologies Software: News/Developments, 2018
Table 93 : Site-Specific Technologies Software: Product Portfolio
Table 94 : SST Development Group, Inc.: Product Portfolio
Table 95 : Taranis: News/Developments, 2019
Table 96 : Taranis: Product Portfolio
Table 97 : TeeJet Technologies: Product Portfolio
Table 98 : Topcon Corp.: Annual Financials, 2023
Table 99 : Topcon Corp.: News/Developments, 2022 and 2023
Table 100 : Topcon Corp.: Product Portfolio
Table 101 : The Toro Co.: Annual Financials, 2022
Table 102 : The Toro Co.: News/Developments, 2018-2022
Table 103 : The Toro Co.: Product Portfolio
Table 104 : Trimble Inc.: Annual Financials, 2022
Table 105 : Trimble Inc.: News/Developments, 2022 and 2023
Table 106 : Trimble Inc.: Product Portfolio
List of Figures
Figure A : Global Market Forecast for Precision Farming, 2022-2028
Figure B : Snapshot of Global Precision Farming Markets and Their Growth Analysis, 2023-2028
Summary Figure : Global Market for Precision Farming, by Region, 2022-2028
Figure 1 : Porter's Five Forces Analysis of the Market for Precision Farming
Figure 2 : Global Market for Precision Farming, by Solution, 2022-2028
Figure 3 : Global Market for Hardware in Precision Farming, 2022-2028
Figure 4 : Global Market for Software in Precision Farming, 2022-2028
Figure 5 : Global Market for Precision Farming, by Application, 2022-2028
Figure 6 : Snapshot of North America Regional Market for Precision Farming, 2022-2028
Figure 7 : North American Market for Precision Farming, Trends and Forecast, 2022-2028
Figure 8 : North American Market for Precision Farming, by Solution, 2022-2028
Figure 9 : North American Market for Precision Farming, by Type of Hardware, 2022-2028
Figure 10 : North American Market for Precision Farming, by Type of Software, 2022-2028
Figure 11 : North American Market for Precision Farming, by Application, 2022-2028
Figure 12 : Snapshot of the European Regional Markets for Precision Farming, 2022-2028
Figure 13 : European Market for Precision Farming, Trends and Forecast, 2022-2028
Figure 14 : European Market for Precision Farming, by Solution, 2022-2028
Figure 15 : European Market for Precision Farming, by Type of Hardware, 2022-2028
Figure 16 : European Market for Precision Farming, by Type of Software, 2022-2028
Figure 17 : European Market for Precision Farming, by Application, 2022-2028
Figure 18 : Snapshot of Asia-Pacific Regional Market for Precision Farming, 2022-2028
Figure 19 : Asia-Pacific Market for Precision Farming, Trends and Forecast, 2022-2028
Figure 20 : Asia-Pacific Market for Precision Farming, by Solution, 2022-2028
Figure 21 : Asia-Pacific Market for Precision Farming, by Type of Hardware, 2022-2028
Figure 22 : Asia-Pacific Market for Precision Farming, by Type of Software, 2022-2028
Figure 23 : Asia-Pacific Market for Precision Farming, by Application, 2022-2028
Figure 24 : Snapshot of the Latin American Regional Market for Precision Farming, 2022-2028
Figure 25 : Latin American Market for Precision Farming, Trends and Forecast, 2022-2028
Figure 26 : Latin American Market for Precision Farming, by Solution, 2022-2028
Figure 27 : Latin American Market for Precision Farming, by Type of Hardware, 2022-2028
Figure 28 : Latin American Market for Precision Farming, by Type of Software, 2022-2028
Figure 29 : Latin American Market for Precision Farming, by Application, 2022-2028
Figure 30 : Snapshot of the Middle East and Africa Market for Precision Farming, 2022-2028
Figure 31 : Middle East and African Market for Precision Farming, Trends and Forecast, 2022-2028
Figure 32 : Middle East and African Market for Precision Farming, by Solution, 2022-2028
Figure 33 : Middle East and African Market for Precision Farming, by Type of Hardware, 2022-2028
Figure 34 : Middle East and African Market for Precision Farming, by Type of Software, 2022-2028
Figure 35 : Middle East and African Market for Precision Farming, by Application, 2022-2028
Figure 36 : AGCO Corp.: Annual Financials, 2021 and 2022
Figure 37 : AGCO Corp.: Revenue Share, by Region, 2022
Figure 38 : AgJunction Inc.: Annual Financials, 2021 and 2022
Figure 39 : AgJunction Inc: Revenue Share, by Business Unit, 2022
Figure 40 : AgJunction Inc: Revenue Share, by Region, 2022
Figure 41 : CNH Industrial N.V.: Annual Financials, 2021 and 2022
Figure 42 : CNH Industrial N.V.: Revenue Share, by Business Unit, 2022
Figure 43 : CNH Industrial N.V.: Revenue Share, by Region, 2022
Figure 44 : Corteva Inc.: Annual Financials, 2021 and 2022
Figure 45 : Deere & Co.: Annual Financials, 2021 and 2022
Figure 46 : Deere & Co.: Revenue Share, by Business Unit, 2022
Figure 47 : Deere & Co.: Revenue Share, by Country/Region, 2022
Figure 48 : Farmers Edge Inc.: Annual Financials, 2021 and 2022
Figure 49 : Farmers Edge Inc.: Revenue Share, by Business Unit, 2022
Figure 50 : Farmers Edge Inc.: Revenue Share, by Country/Region, 2022
Figure 51 : Hexagon AB: Annual Financials, 2021 and 2022
Figure 52 : Hexagon AB: Revenue Share, by Business Unit, 2022
Figure 53 : Hexagon AB: Revenue Share, by Region, 2022
Figure 54 : Kubota Corp.: Annual Financials, 2021 and 2022
Figure 55 : Kubota Corp.: Revenue Share, by Business Unit, 2022
Figure 56 : Kubota Corp.: Revenue Share, by Country/Region, 2022
Figure 57 : Raven Industries Inc.: Annual Financials, 2021 and 2022
Figure 58 : Raven Industries, Inc.: Revenue Share, by Business Unit, 2022
Figure 59 : Topcon Corp.: Annual Financials, 2022 & 2023
Figure 60 : Topcon Corp.: Revenue Share, by Business Unit, 2023
Figure 61 : Topcon Corp.: Revenue Share, by Country/Region, 2023
Figure 62 : The Toro Co.: Annual Financials, 2021 and 2022
Figure 63 : Trimble Inc.: Annual Financials, 2021 and 2022
Figure 64 : Trimble Inc.: Revenue Share, by Business Unit, 2022
Figure 65 : Trimble Inc.: Revenue Share, by Country/Region, 2022
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