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North America Precision Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A1749
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Market Overview:
The North America precision agriculture market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.8% during 2023-2028.
Precision agriculture, also known as satellite agriculture or site-specific crop management (SSCM), is one of the most popular innovations witnessed by modern farming. It is the concept of managing accurate variabilities within a field to grow more food with less agricultural inputs while reducing the overall production cost. Precision agriculture relies upon specialized equipment, software and IT services to offer real-time data about the condition of the soil, ambient air and crops as well as other important information, such as labor costs, availability of equipment and local weather predictions. The retrieved data is used by farmers to know about the precise planting times, crop rotation and harvesting time. It also helps farmers in reducing the usage of water, pesticides, herbicides and fertilizers, thereby, making the technique cost-effective.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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North America precision agriculture market is currently being driven by several factors. Being an urbanized region, the farmers in the region are increasingly relying on smartphones and other intelligent mediums to remain updated about the latest development in the agricultural sector. Moreover, through precision agriculture, farmers can easily determine the peak conditions required for plant growth by placing sensors throughout the place. These sensors are connected to digital applications and record rainfall, soil conditions in different areas, thereby helping the farmers to maximize their benefits. Apart from this, the precision agriculture techniques enable its users to visualize production levels, soil moisture, and sunlight intensity in real-time and remotely accelerate the decision-making process. The data collected from these techniques enable agronomists to properly analyze the production quality and result in better correlation to treatments. These analyses are further used to educate farmers about the processes that are to be used for production, thereby improving the quality of the final product.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America precision agriculture market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on technology, type, component and application.
- Key Regions Analysed
- United States
- Canada
- Analysis for Each Country
- Market by Technology
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- GNSS/GPS Systems
- GIS
- Remote Sensing
- Variable Rate Technology (VRT)
- Others
- Market by Type
- Automation and Control Systems
- Sensing and Monitoring Devices
- Farm Management Systems
- Market by Component
- Hardware
- Software
- Market by Application
- Mapping
- Crop Scouting
- Yield Monitoring
- Soil Monitoring
- Precision Irrigation
- Others
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Technology, Type, Component, Application, Country |
| Countries Covered | United States, Canada |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The North America precision agriculture market was valued at US$ 3.8 Billion in 2022.
We expect the North America precision agriculture market to exhibit a CAGR of 11.8% during 2023-2028.
The rising demand for safe and high-quality food products, along with the increasing adoption of precision agriculture, as it aids in improving crop quality by reducing the risk of contamination, ensuring the optimal use of resources, minimizing wastage, etc., is primarily driving the North America precision agriculture market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the region, resulting in the temporary halt in various agricultural practices, thereby negatively impacting the North America market for precision agriculture.
Based on the technology, the North America precision agriculture market has been divided into GNSS/GPS systems, GIS, remote sensing, Variable Rate Technology (VRT), and others. Among these, GNSS/GPS systems currently exhibit a clear dominance in the market.
Based on the type, the North America precision agriculture market can be categorized into automation and control systems, sensing and monitoring devices, and farm management systems. Currently, automation and control systems account for the majority of the total market share.
Based on the component, the North America precision agriculture market has been segregated into hardware and software, where hardware currently exhibits a clear dominance in the market.
Based on the application, the North America precision agriculture market can be bifurcated into mapping, crop scouting, yield monitoring, soil monitoring, precision irrigation, and others. Currently, yield monitoring holds the largest market share.
On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America precision agriculture market.
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