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The global precision agriculture market was valued at US$ 6.73 Billion in 2021.
We expect the global precision agriculture market to exhibit a CAGR of 13.7% during 2022-2027.
The rising integration of various connected technologies, such as Low Power Wide Area (LPWA), Zigbee,
Wi-Fi, etc., in precision farming, enabling to efficiently plan and execute numerous agricultural
operations, is primarily catalyzing the global precision agriculture market.
The sudden outbreak of the COVID 19 pandemic has led to the growing adoption of precision agriculture
system to remotely enable real-time decision making on crop health monitoring, field mapping,
irrigation scheduling, and harvesting management.
Based on the technology, the global precision agriculture market has been segmented into Global
Navigation Satellite System (GNSS)/Global Positioning System (GPS), Geographic Information System
(GIS), Remote Sensing, Variable Rate Technology (VRT), and others. Currently, Global Navigation Satellite
System (GNSS)/Global Positioning System (GPS) technology holds the majority of the total market share.
Based on the type, the global precision agriculture market can be divided into automation and control
systems, sensing and monitoring devices, and farm management systems. Among these, automation
and control systems currently exhibit a clear dominance in the market.
Based on the component, the global precision agriculture market has been categorized into hardware
and software. Currently, hardware accounts for the majority of the global market share.
Based on the application, the global precision agriculture market can be segregated into yield
monitoring, crop scouting, mapping, soil monitoring, precision irrigation, and others. Among these, yield
monitoring holds the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global precision agriculture market include 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, etc.
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