Market Overview:
The global precision agriculture market reached a value of US$ 6.7 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$11.9 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Precision Agriculture (PA) refers to a type of integrated information- and production-controlled farming system that utilizes the latest available technologies and research methods for enhancing agricultural output. It helps farmers in increasing long-term, site-specific and whole-farm production efficiency, and profitability while minimizing the unintended impact on wildlife and the environment. Nowadays, precision agriculture has gained immense popularity across the globe with the development of IT that helps in achieving high quality of production and reducing the production costs and labor inputs.
Global Precision Agriculture Market Drivers/Constraints:
- With the rapid penetration of smartphones and the internet, farmers are increasingly adopting the latest technologies. The inclusion of connected technologies such as low power wide area (LPWA), Zigbee, Wi-Fi, and new wireless sensor technologies in precision farming have enabled them to plan and execute various agricultural operations efficiently.
- Several initiatives have been undertaken by governments across the globe to encourage the uptake of modern agricultural techniques to enhance crop yield and productivity. For instance, under the revised European Common Agricultural Policy, financial incentives and support schemes have been introduced by the European Union to promote farmers to invest in diverse precision farming technologies.
- The leading manufacturers are developing different types of systems and devices to simplify agricultural activities including farm management systems, sensing and monitoring tools, automation and control systems, among others. These advancements have positively influenced the overall growth of the global precision agriculture market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global precision agriculture market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on technology, type, component and application.
Breakup by Technology:
GNSS/GPS currently represents the leading technology segment. GNSS and GPS are utilized for mapping and geo-positioning, yield monitoring, soil condition monitoring, virtual fencing, and biomass monitoring.
Breakup by Type:
- Automation and Control Systems
- Sensing and Monitoring Devices
- Farm Management Systems
Automation and control systems currently represent the leading segment as they help in reducing labor costs, offering reliable and consistent performance, and improving the efficiency as well as the accuracy of agricultural operations.
Breakup by Component:
Based on the component, hardware is the leading segment since the continuous evolution in technology has resulted in the introduction of new devices with better location and data processing capabilities.
Breakup by Application:
- Yield Monitoring
- Crop Scouting
- Mapping
- Soil Monitoring
- Precision Irrigation
- Others
Yield monitoring is the largest application area and helps in measuring and recording information based on grain flow, grain moisture and covered farm area. With yield monitoring technology, farmers can compare the performance of different seed varieties throughout their fields, which helps in improving seed selection.
Regional Insights:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
North America enjoys the leading position in the market on account of the advancements made in the field of precision agriculture in the region, both in terms of the types of offerings, which range from site-specific to guidance technologies, and the adoption of various systems by the farmers.
Competitive Landscape:
The market is highly fragmented and consists of numerous players at each stage of the supply chain. Some of the leading players operating in the market are:
- Agribotix
- Bayer CropScience AG
- Case IH Agriculture
- ClearAg Operations
- Conservis Corporation
- Deere & Company
- Farmers Edge Inc.
- Fairport Farm Software
- Fuse Technologies
- Granular AG
- Grownetics Inc.
- IBM
- MapShots Inc.
- Raven Industries
- SST Software
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2020 |
| Historical Period |
2015-2020 |
| Forecast Period |
2021-2026 |
| Units |
US$ Billion |
| Segment Coverage |
Technology, Type, Component, Application, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered |
Agribotix, Bayer CropScience AG, Case IH Agriculture, ClearAg Operations, Conservis Corporation, Deere & Company, Farmers Edge Inc., Fairport Farm Software, Fuse Technologies, Granular AG, Grownetics Inc., IBM, MapShots Inc., Raven Industries and SST Software |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499 |
| 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:
- How has the global precision agriculture market performed so far and how will it perform in the coming years?
- What are the key regions in the global precision agriculture market?
- What has been the impact of COVID-19 on the global precision agriculture market?
- What are the popular product types in the global precision agriculture market?
- What are the various application segments in the global precision agriculture market?
- What are the major technologies used in the global precision agriculture market?
- What are the several components in the global precision agriculture market?
- What are the various stages in the value chain of the global precision agriculture market?
- What are the key driving factors and challenges in the global precision agriculture market?
- What is the structure of the global precision agriculture market and who are the key players?
- What is the degree of competition in the global precision agriculture market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Precision Agriculture Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.5 Market Breakup by Technology
5.6 Market Breakup by Type
5.7 Market Breakup by Component
5.8 Market Breakup by Application
5.9 Market Breakup by Region
5.10 Market Forecast
5.11 SWOT Analysis
5.11.1 Overview
5.11.2 Strengths
5.11.3 Weaknesses
5.11.4 Opportunities
5.11.5 Threats
5.12 Value Chain Analysis
5.13 Porters Five Forces Analysis
5.13.1 Overview
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Degree of Competition
5.13.5 Threat of New Entrants
5.13.6 Threat of Substitutes
6 Market Breakup by Technology
6.1 GNSS/GPS Systems
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 GIS
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Remote Sensing
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Variable Rate Technology (VRT)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Type
7.1 Automation and Control Systems
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Sensing and Monitoring Devices
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Farm Management Systems
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Component
8.1 Hardware
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Software
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Mapping
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Crop Scouting
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Yield Monitoring
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Soil Monitoring
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Precision Irrigation
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Asia Pacific
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Agribotix
11.3.2 Bayer CropScience AG
11.3.3 Case IH Agriculture
11.3.4 ClearAg Operations
11.3.5 Conservis Corporation
11.3.6 Deere & Company
11.3.7 Farmers Edge Inc.
11.3.8 Fairport Farm Software
11.3.9 Fuse Technologies
11.3.10 Granular AG
11.3.11 Grownetics Inc.
11.3.12 IBM
11.3.13 Mapshots Inc.
11.3.14 Raven Industries
11.3.15 SST Software
List of Figures
Figure 1: Global: Precision Agriculture Market: Major Drivers and Challenges
Figure 2: Global: Precision Agriculture Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Precision Agriculture Market: Breakup by Technology (in %), 2020
Figure 4: Global: Precision Agriculture Market: Breakup by Type (in %), 2020
Figure 5: Global: Precision Agriculture Market: Breakup by Component (in %), 2020
Figure 6: Global: Precision Agriculture Market: Breakup by Application (in %), 2020
Figure 7: Global: Precision Agriculture Market: Breakup by Region (in %), 2020
Figure 8: Global: Precision Agriculture Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Precision Agriculture Industry: SWOT Analysis
Figure 10: Global: Precision Agriculture Industry: Value Chain Analysis
Figure 11: Global: Precision Agriculture Industry: Porter’s Five Forces Analysis
Figure 12: Global: Precision Agriculture (GNSS/GPS Systems) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Precision Agriculture (GNSS/GPS Systems) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Precision Agriculture (GIS) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Precision Agriculture (GIS) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Precision Agriculture (Remote Sensing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Precision Agriculture (Remote Sensing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Precision Agriculture (Variable Rate Technology) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Precision Agriculture (Variable Rate Technology) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Precision Agriculture (Other Technologies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Precision Agriculture (Other Technologies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Precision Agriculture (Automation and Control Systems) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Precision Agriculture (Automation and Control Systems) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Precision Agriculture (Sensing and Monitoring Devices) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Precision Agriculture (Sensing and Monitoring Devices) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Precision Agriculture (Farm Management Systems) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Precision Agriculture (Farm Management Systems) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Precision Agriculture (Hardware) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Precision Agriculture (Hardware) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Precision Agriculture (Software) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Precision Agriculture (Software) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Precision Agriculture (Application in Mapping) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: Precision Agriculture (Application in Mapping) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: Precision Agriculture (Application in Crop Scouting) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: Precision Agriculture (Application in Crop Scouting) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Global: Precision Agriculture (Application in Yield Monitoring) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: Precision Agriculture (Application in Yield Monitoring) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Global: Precision Agriculture (Application in Soil Monitoring) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Global: Precision Agriculture (Application in Soil Monitoring) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Global: Precision Agriculture (Application in Precision Irrigation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Global: Precision Agriculture (Application in Precision Irrigation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Global: Precision Agriculture (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Global: Precision Agriculture (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: North America: Precision Agriculture Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: North America: Precision Agriculture Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Europe: Precision Agriculture Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Europe: Precision Agriculture Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Asia Pacific: Precision Agriculture Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Asia Pacific: Precision Agriculture Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Middle East and Africa: Precision Agriculture Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Middle East and Africa: Precision Agriculture Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Latin America: Precision Agriculture Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Latin America: Precision Agriculture Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Precision Agriculture Equipment Manufacturing: Detailed Process Flow
List of Tables
Table 1: Global: Precision Agriculture Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Precision Agriculture Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 3: Global: Precision Agriculture Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 4: Global: Precision Agriculture Market Forecast: Breakup by Component (in Million US$), 2021-2026
Table 5: Global: Precision Agriculture Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Precision Agriculture Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Precision Agriculture Equipment: Raw Material Requirements
Table 8: Global: Precision Agriculture Market: Competitive Structure
Table 9: Global: Precision Agriculture Market: Key Players