$11 Billion Precision Agriculture Markets, 2025

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Nov 11, 2020, 07:15 ET

DUBLIN, Nov. 11, 2020 /PRNewswire/ -- The "Global Precision Agriculture Market: Focus on Solution, Technology, Crop Type, Application, Robots Type & Business Model, Drones Type & Application, Funding, Patents - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.

The precision agriculture market is expected to reach $11,106.7 million by 2025, rising at a CAGR of 13.97% from 2019 to 2025.

The market growth is largely attributed to the growing need to adopt site-specific farming solutions to manage the raw materials and resources effectively. The added benefits of these advanced solutions are low labor costs, integration, and accessibility associated with precision agriculture, and these factors are also expected to be responsible for the reported growth of the market.

Precision agriculture is considered to be an advanced technological change in the farming sector, adapted to improve crop yield and reduce labor shortage to meet the global food demand. The advanced technology and techniques enable the farmers to optimize the usage of resources, such as fertilizers, seeds, water, and pesticides. The agriculture industry has been witnessing a revolutionary phase owing to the introduction of digital technologies in farming in the past decade.

The integration of software and hardware solution has led to the generation of a huge amount of data that can be analyzed using different tools providing farmers with valuable insights to promote yield growth. Also, the widespread adoption of drones and robots in the agriculture industry led to improving the different farming applications. As the advancement in the practice of precision agriculture drives the usage of advanced solutions, several challenges associated with the practice restricts its adoption.

The trend of precision agriculture practices is not only prevalent in developed countries but also in developing countries. In countries such as China and India, large deployments of smartphones and the internet of things systems have led to the rapid adoption of precision agriculture solutions. The government of different countries has also realized the importance and advantage of these advanced solutions, and thus, their initiatives to promote precision agriculture are expected to drive the growth of the market. Some of the popular use cases of precision agriculture include robotics, predictive analytics, unmanned aerial vehicle, and autonomous robots. As per the agriculture applications, spraying, monitoring, irrigation, and fertilization, among others, are where the advanced solutions have been successfully utilized.

The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies, such as product launch and development and partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio.

For instance, in September 2019, Corteva Agriscience and Pro Farm technologies announced a commercial agreement to develop a tool for farmers to stimulate plant growth and to improve plant health. Similarly, in April 2019, Trimble announced the launch of Farmer Core which is a Trimble Ag software subscription that connects all farm operations.

This report is a meticulous compilation of research on more than 100 players in the precision agriculture ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 30+ leading companies across the supply chain.

Market Dynamics

Growth Drivers

Growing Demand for Crop Yield
Expanding Need for Climate Smart Farming
Rising Labor Shortage

Market Challenges

Lack of Technical Knowledge and Awareness
Complexity of Data Management and Data Privacy

Market Opportunities

Impact of 3D Printing on Farming
Blockchain for Agriculture
Artificial Intelligence in Agriculture

Key Questions Answered:

What is the expected global precision agriculture market size in terms of value during the period 2019-2025?
What is the expected future scenario and revenue generated by the different types of solutions, including software, hardware, and support services?
What is the expected future scenario and revenue generated by the technology segment for which precision agriculture is offered, including, guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence, among others?
What is the expected future scenario and revenue generated by the application segments for which precision agriculture is offered, including precision irrigation, field monitoring, precision spraying, precision fertilization, precision planting, and data management, among others?
What is the expected future scenario and revenue generated by the precision agriculture operating for different farm produce, including field crops, permanent crops, and other produce types?
What is the expected future scenario and revenue generated by global agriculture robots when they are offered as per different business models, including agriculture robot-as-a-product (ARaaP) and agriculture robot-as-a-service (ARaaS) in the precision agriculture market?
What is the expected future scenario and revenue generated by the different types of global agriculture robots, such as weeding robots, harvesting and picking robots, autonomous robot tractors, and other robots in the precision agriculture market?
What is the expected future scenario and revenue generated by the different types of global agriculture drones such as fixed-wing drones, single rotor drones, multi-rotor drones, and hybrid VTOL drones in the global precision agriculture market?
What is the expected future scenario and revenue generated by the application segments for which global agriculture drone is offered, including soil & field mapping and analysis, field supervision, crop health assessment, crop spraying, irrigation monitoring, and others?
Which region is the largest market for the global precision agriculture market?
What is the expected future scenario and the revenue generated by different regions and countries in the global precision agriculture market, such as North America, South America, Europe, U.K., China, Asia-Pacific and Japan, and Middle East & 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 is their role, focus area, and key functions in this market?
Where do the key precision agriculture companies lie in their competitive benchmarking on the basis of their market coverage and market potential?
What does the technology ecosystem of precision agriculture in the agriculture market constitute of?
How is the funding and investment landscape in the global precision agriculture market?
What are the market dynamics of the global precision agriculture market, including market drivers, restraints, and opportunities?
What is the SWOT analysis for leading companies in the global precision agriculture market?

Companies Mentioned

365FarmNet GmbH
AGCO Corporation
Abundant Robotics Inc.
AeroVironment, Inc.
Agrivi
BASF SE
CLAAS Group
CNH Industrial N.V.
Deepfield Robotics
Deere & Company
ecoRobotix Ltd.
Granular Inc.
Harvest Automation Inc.
Harvest Croo Robotics
Hexagon Agriculture
IBM Corporation
Kubota Corporation
Microsoft Corporation
Naio Technologies
Parrot SA
PrecisionHawk Inc.
Raven Industries Inc.
Robert Bosch GmbH
Robotics Plus
Teejet Technologies
The Toro Company
Topcon Corporation
Trimble Inc.
Valmont Industries, Inc.
Yamaha Motor Co. Ltd.
Yanmar Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/x2v918

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