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Report
North America Precision Agriculture Market Report and Forecast 2023-2028
Market Report I 2023-10-23 I 165 Pages I EMR Inc.
North America Precision Agriculture Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the North America precision agriculture market reached a value of about USD 3.67 billion in 2022. Aided by growing awareness of sustainable agricultural activities and increasing adoption of smartphones and other intelligent mediums, the market is projected to further grow at a CAGR of 11.10% between 2023 and 2028 to reach a value of almost USD 6.89 billion by 2028.
Precision agriculture, often termed satellite farming or site-specific crop management, revolves around the principle of doing the right thing, in the right place, at the right time. In essence, it is about managing variations in the field accurately to grow more food using fewer resources and reducing production costs. This approach leverages advanced technologies such as GPS, IoT, and data analytics to optimise crop yields and improve efficiency.
Growing shift towards data-driven farming is considered to be one of the major North America precision agriculture market trends. Farmers are progressively leaning towards technologies like drones, sensors, and automated tractors to collect, analyse, and interpret data, ensuring that they make well-informed decisions. This increasing reliance on technology is transforming traditional farming methods, aligning them with the demands of the modern world.
Another significant factor propelling the North America precision agriculture market growth is the region's natural inclination towards tech integration. As a global tech pioneer, North America, particularly the U.S., is at the forefront of embedding technology in various sectors, including agriculture. This not only boosts production rates but also aids in sustainable farming, ensuring that the ecological balance remains undisturbed.
The need for higher crop yields, given the ever-growing population, acts as a pivotal factor contributing to the North America precision agriculture market demand. Precision agriculture, with its promise of maximising output while minimising input, fits perfectly into this narrative. Furthermore, with the increasing global emphasis on sustainable practices and reducing carbon footprints, precision agriculture's resource-efficient methods offer an appealing solution.
Furthermore, the increasing partnerships between tech firms and agricultural specialists are shaping the market. By combining tech expertise with on-ground farming experience, these collaborations ensure that the solutions are not only advanced but also practical and field-ready.
The North America precision agriculture market analysis also highlights the growing investments in research and development within the sector. Various stakeholders, ranging from tech companies to government bodies, are collecting resources to ensure that precision agriculture becomes more accessible and efficient. With continuous advancements in satellite imagery, AI, and machine learning, the possibilities within the precision agriculture sector are boundless.
Market Segmentation
The market can be divided based on technology, type, component, application, and country.
Market Breakup by Technology
- GNSS/GPS Systems
- GIS
- Remote Sensing
- Variable Rate Technology (VRT)
- Others
Market Breakup by Type
- Automation and Control Systems
- Sensing and Monitoring Devices
- Farm Management Systems
Market Breakup by Component
- Hardware
- Software
Market Breakup by Application
- Mapping
- Crop Scouting
- Yield Monitoring
- Soil Monitoring
- Precision Irrigation
- Others
Market Breakup by Country
- United States
- Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America precision agriculture market. Some of the major players explored in the report by Expert Market Research are as follows:
- AGCO Corporation
- Deere & Company
- Raven Industries, Inc.
- Trimble Inc.
- AgJunction, Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Precision Agriculture Market Overview
8.1 Key Industry Highlights
8.2 Global Precision Agriculture Historical Market (2018-2022)
8.3 Global Precision Agriculture Market Forecast (2023-2028)
8.4 Global Precision Agriculture Market by Technology
8.5 Global Precision Agriculture Market by Type
8.6 Global Precision Agriculture Market by Component
8.7 Global Precision Agriculture Market by Application
8.8 Global Precision Agriculture Market by Region
8.8.1 North America
8.8.2 Europe
8.8.3 Asia Pacific
8.8.4 Latin America
8.8.5 Middle East and Africa
9 North America Precision Agriculture Market Analysis
9.1 Key Industry Highlights
9.2 North America Precision Agriculture Historical Market (2018-2022)
9.3 North America Precision Agriculture Market Forecast (2023-2028)
9.4 North America Precision Agriculture Market by Technology
9.4.1 GNSS/GPS Systems
9.4.1.1 Historical Trend (2018-2022)
9.4.1.2 Forecast Trend (2023-2028)
9.4.2 GIS
9.4.2.1 Historical Trend (2018-2022)
9.4.2.2 Forecast Trend (2023-2028)
9.4.3 Remote Sensing
9.4.3.1 Historical Trend (2018-2022)
9.4.3.2 Forecast Trend (2023-2028)
9.4.4 Variable Rate Technology (VRT)
9.4.4.1 Historical Trend (2018-2022)
9.4.4.2 Forecast Trend (2023-2028)
9.4.5 Others
9.5 North America Precision Agriculture Market by Type
9.5.1 Automation and Control Systems
9.5.1.1 Historical Trend (2018-2022)
9.5.1.2 Forecast Trend (2023-2028)
9.5.2 Sensing and Monitoring Devices
9.5.2.1 Historical Trend (2018-2022)
9.5.2.2 Forecast Trend (2023-2028)
9.5.3 Farm Management Systems
9.5.3.1 Historical Trend (2018-2022)
9.5.3.2 Forecast Trend (2023-2028)
9.6 North America Precision Agriculture Market by Component
9.6.1 Hardware
9.6.1.1 Historical Trend (2018-2022)
9.6.1.2 Forecast Trend (2023-2028)
9.6.2 Software
9.6.2.1 Historical Trend (2018-2022)
9.6.2.2 Forecast Trend (2023-2028)
9.7 North America Precision Agriculture Market by Application
9.7.1 Mapping
9.7.1.1 Historical Trend (2018-2022)
9.7.1.2 Forecast Trend (2023-2028)
9.7.2 Crop Scouting
9.7.2.1 Historical Trend (2018-2022)
9.7.2.2 Forecast Trend (2023-2028)
9.7.3 Yield Monitoring
9.7.3.1 Historical Trend (2018-2022)
9.7.3.2 Forecast Trend (2023-2028)
9.7.4 Soil Monitoring
9.7.4.1 Historical Trend (2018-2022)
9.7.4.2 Forecast Trend (2023-2028)
9.7.5 Precision Irrigation
9.7.5.1 Historical Trend (2018-2022)
9.7.5.2 Forecast Trend (2023-2028)
9.7.6 Others
9.8 North America Precision Agriculture Market by Country
9.8.1.1 United States
9.8.1.2 Canada
10 Regional Analysis
10.1 United States
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Breakup by Technology
10.1.4 Breakup by Type
10.1.5 Breakup by Application
10.2 Canada
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Breakup by Technology
10.2.4 Breakup by Type
10.2.5 Breakup by Application
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players' Market Share
13.3 Company Profiles
13.3.1 AGCO Corporation (NYSE: AGCO)
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Demographic Reach and Achievements
13.3.1.4 Financial Summary
13.3.1.5 Certifications
13.3.2 Deere & Company (NYSE: DE)
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Demographic Reach and Achievements
13.3.2.4 Financial Summary
13.3.2.5 Certifications
13.3.3 Raven Industries, Inc. (NASDAQ: RAVN)
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Demographic Reach and Achievements
13.3.3.4 Financial Summary
13.3.3.5 Certifications
13.3.4 Trimble Inc. (NASDAQ: TRMB)
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Demographic Reach and Achievements
13.3.4.4 Financial Summary
13.3.4.5 Certifications
13.3.5 AgJunction, Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Demographic Reach and Achievements
13.3.5.4 Financial Summary
13.3.5.5 Certifications
13.3.6 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Precision Agriculture Market: Key Industry Highlights, 2018 and 2028
2. Global Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
3. Global Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
4. Global Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
5. Global Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
6. Global Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
7. Global Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
8. Global Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global Precision Agriculture Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Precision Agriculture Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Precision Agriculture Market: Key Industry Highlights, 2018 and 2028
13. North America Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
14. North America Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
15. North America Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
16. North America Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
17. North America Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
18. North America Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
19. North America Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
20. North America Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
21. North America Precision Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2022
22. North America Precision Agriculture Market Forecast: Breakup by Country (USD Billion), 2023-2028
23. United States Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
24. United States Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
25. United States Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
26. United States Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
27. United States Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
28. United States Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
29. United States Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
30. United States Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
31. Canada Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
32. Canada Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
33. Canada Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
34. Canada Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
35. Canada Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
36. Canada Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
37. Canada Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
38. Canada Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
39. North America Precision Agriculture Market Structure
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