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The global precision agriculture market is expected to reach $10.93 billion by 2026, with a CAGR of 14.8% during the forecast period 2021-2026

·4-min read

The growth rate in the market is because of the increased government initiatives around the world for precision agriculture services, as this leads to an increase in agricultural production to cater to the growing global food demand.

New York, Dec. 16, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Precision Agriculture Market - A Global and Regional Analysis: Focus on Applications, Products and Country-Wise Analysis - Analysis and Forecast, 2020-2026" -
Precision agriculture techniques are being adopted by farmers across the globe to increase crop yield, shrink wastage, and ensure food security. This has led to an increase in the growth of the global precision agriculture market.

Impact of COVID-19 on Precision Agriculture Market

The precision agriculture market experienced a dip in the year 2020 due to the COVID-19 pandemic due to restrictions in movement.Globally nations had lockdown imposed because of which the supply chain also got disrupted, resulting in shortage of equipment and other inputs required for farming.

This has brought the companies’ attention toward the use of remote sensing and other agriculture management tools, which can lead to a boost in the adoption of precision agriculture practices.

Market Segmentation

Precision Agriculture Market by Application

Precision irrigation is an innovative method to evaluate the crop’s water requirement and implementation of advanced systems to encourage the health of the crop and to reduce the nutrient, chemical, and water waste.It involves scheduling irrigation based on the data collected through sensors and drones.

It also involves providing the right amount of water to the plants/crops at the right time and place without wasting the available land resources.

Precision Agriculture Market by Farm Produce

Field crops comprise the mainstream traditional farm produce that the agriculture industry majorly focuses on for its daily revenue generation.These crops are grown for large-scale consumption purposes.

While the production of fruits and vegetables requires handpicking by manual labors and individualized care, field crops are generally processed in bulk.

Precision Agriculture Market by Technology

The guidance technology majorly comprises the global positioning system (GPS) and global navigation satellite system (GNSS) technologies which are applied in the agriculture industry for navigation purposes.The navigation is done via satellites which send signals to the receiver/user to provide them with accurate information about the location on the farm.

Such equipment enables efficient crop monitoring. GPS/GNSS equipment and software service can be used for automated record keeping, vehicle navigation, and inter-vehicle communications, and other applications.

Precision Agriculture Market by Solution

Hardware systems of precision agriculture solutions are broadly classified into automation and control systems, sensing and navigation systems, and other equipment like smart sprayers and sprinklers. The hardware solution comprises different types of tools and devices, such as displays, GPS/GNSS devices, and handheld mobile devices.

Precision Agriculture Market by Region

North America has been one of the early adopters of the new technologies to meet the growing food demand across the globe. North America has most of the market leaders and contributors to the advanced precision agriculture industry, with the U.S. being the heartland of precision agriculture technologies. Over the last two decades, precision farming methods have been progressively adopted by the regional farmers to make their farm operations easy and to produce high-quality crops. The farmers of the region are being well-trained to make them open toward the adoption of technological innovations.

Key Market Players and Competition Synopsis

AGCO Corporation, CLAAS Group, CNH Industrial N.V., John Deere, Hexagon Agriculture, Kubota Corporation, TeeJet Technologies, The Toro Company, Topcon Corporation, Yanmar Co. Ltd., Microsoft Corporation, AGRIVI, BASF SE, Granular Inc., IBM Corporation

The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which hold 50-60% of the market), mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the Precision Agriculture industry.

Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Rest-of-North America
• South America
• Brazil
• Argentina
• Chile
• Peru
• Europe
• Germany
• Netherlands
• France
• Italy
• Denmark
• Spain
• Rest-of-Europe
• U.K.
• Middle East and Africa
• Israel
• South Africa
• Turkey
• Rest-of-Middle East and Africa
• China
• Asia-Pacific and Japan
• Japan
• Australia and New Zealand (ANZ)
• Vietnam
• Indonesia
• Malaysia
• India
• Rest-of-Asia Pacific and Japan
Read the full report:

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