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.
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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
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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)
Key Questions Answered in This Report
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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