Written by Precision Agriculture Market Overview
The global precision agriculture market is estimated to reach $14.61 billion in 2027, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 13.12% during the forecast period 2022-2027.
Precision agriculture is focused on detecting, analyzing, and reacting to field variability concerning crop properties with the help of precision agriculture technologies such as global positioning systems (GPS) and sensors. Adopting such technologies will assist the farmers in whole-farm management practices.
USP of the Report
• Study on research & development projects
• Competitive study
• Market strategies & developments
• Patent analysis
• Impact of key enabling technologies
• Funding analysis
• Future investment trends
• Impact of Russia-Ukraine crisis
• Impact of Covid-19
Analyst Perspective
According to Debraj Chakraborty, Lead Analyst of the report, “Precision agriculture technologies have seen rapid growth in adoption worldwide in recent years, with developed nations such as Canada, Australia, Europe, and the U.S leading the way due to their access to advanced resources and technology. In fact, large-scale farmers in the U.S. have adopted precision agriculture technologies at a rate of approximately 70%. However, developing countries have been slower to adopt these technologies due to reasons such as inadequate infrastructure, resources, and education. Nonetheless, some countries such as Brazil and Argentina have made notable strides in the adoption of precision agriculture technologies.”
Key Companies Operating in The Market
Key players in the global precision agriculture market analysed and profiled in the study involve hardware systems and software manufacturers that are engaged in providing advanced precision agriculture solutions to farmers and other agriculture service companies. Moreover, a detailed competitive benchmarking of the players operating in the global precision agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include AGCO Corporation, CLAAS Group, CNH Industrial N.V., Deere & Company, Hexagon Agriculture, Kubota Corporation, TeeJet Technologies, The Toro Company, Topcon Corporation, Yanmar Co. Ltd., Accenture, AGRIVI, Amazon Web Services, Inc., BASF SE, Climate LLC, Granular Inc., IBM Corporation, Microsoft Corporation, and X Development LLC (Alphabet Inc.)
Key Questions Answered in the Report/h3>
• What is the expected global precision agriculture market size in terms of value during 2022-2027?
• What is the expected future scenario and revenue generated by different solutions, including software and platform, hardware, and support services?
• What is the expected future scenario and revenue to be generated by the technology segment, including guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence?
• What is the expected future scenario and revenue generated by different applications for precision agriculture solutions, including precision irrigation, field monitoring, spraying, fertilization, precision planting, and data management?
• Which region is the largest market for the global precision agriculture market?
• What is the expected future scenario and revenue generated by different regions and countries in the global precision agriculture market, such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
• What is the competitive strength of the key players in the global precision agriculture market based on the analysis of their recent developments, product offerings, and regional presence?
• Which are the different consortiums and associations present in the global precision agriculture market, and what are their roles, focus areas, and key functions in this market?
• Where do the key precision agriculture companies lie in their competitive benchmarking based on market coverage and market potential?
• What does the technology ecosystem of precision agriculture solutions constitute?