The Precision Farming Market size was valued at US$ 7.58 Billion in 2021 and the total precision farming revenue is expected to grow at 12.9% through 2022 to 2029, reaching nearly US$ 20.02 Billion.
Precision Farming Market Overview
The Precision Farming Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2029, published by Maximize Market Research, is the culmination of thorough primary and secondary research. The report provides a detailed analysis of regional insights into the Precision Farming market, and its changing trends, industry environment, and all of the market-leading key players. The research approach was used to investigate the global Precision Farming market and the results were logically presented in the report.
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The Precision Farming Market size was valued at US$ 7.58 Billion in 2021 and the total precision farming revenue is expected to grow at 12.9% through 2022 to 2029, reaching nearly US$ 20.02 Billion.
Precision Farming Market Scope
MMR's research is a detailed analysis of the Precision Farming market and identifies all of the top major companies in the global market based on variables such as volume, value, market share, strategies, and growth in the industry. The research also includes tactics for both existing industry participants and those looking to enter the market i.e. new market entrants.
Market Dynamics:
The need for more effective crop health monitoring and rising government support for the adoption of new agricultural practises are both expected to drive market expansion. By 2029, a large market share for cloud-based software is anticipated because it saves money, reduces energy use, and offers enormous amounts of data storage. Farmers can now work more productively and profitably thanks to advancements in GPS mapping and related farming applications. In agriculture, where they are frequently used to monitor irrigation systems, drones are growing in popularity. Because it identifies soil characteristics that might be used to boost yields, yield monitoring is frequently used in soil monitoring.
Market Segmentation:
By Offering: Hardware, software, and services comprise the further sub-segments of the precision farming market. The market for precision agricultural equipment is anticipated to reach its peak in 2029. Hardware, software, and services make up the three segments that make up the precision farming market. Hardware held the largest market share in 2021 as a result of the widespread use of automation and control devices, including drones/UAVs, GPS/GNSS, irrigation controllers, guidance and steering systems, yield monitors, and sensors.
According to technology, the precision farming market is divided into GNSS, GIS, Remote Sensing, and VRT. In 2029, the Variable Rate Technology is anticipated to have the largest market share.
By Application: The market is further divided into various applications, such as crop scouting, precision irrigation, mapping, and yield and soil monitoring. In 2021, mapping had the largest market share. During the forecast period, a higher CAGR is anticipated to be experienced by the market for precision irrigation management applications (2022-2029).
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Key Players:
• Deere & Company
• AGCO Corporation
• Trimble
• Raven Industries
• Topcon Positioning
• AgJunction
• Observant
• Granular Inc
• Agrivi Ltd.
• Monsanto Company
• Dickey-John Corporation
• Ag Leader Technology
• CNH Industrial NV
• SST Development Group.
• Trimble Navigation Limited
• Tetra Laval Holdings B.V.
Regional Analysis
The report provides the global Precision Farming Market's growth pattern in detail. The report on the Precision Farming market demonstrates the most significant regions, which include 5 regions, such as North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, have global influence. Consumption quantities, manufacturing sites and volumes, import-export analysis, price trend analysis, cost of raw materials, and value chain analysis are some of the major and important indicators used during the forecast of Precision Farmingmarket for each country.
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Key Questions answered in the Precision Farming Market Report are:
Key offerings:
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Mar 02, 2023