Precision Farming Agriculture Market Projected to reach US$ 12.8 billion by 2025 | Prospera Technologies Ltd., Descartes Labs, Topcon Positioning Systems, AgEagle Aerial Systems, Ag Leader Technology, AgJunction, Raven Industries, Trimble

Precision farming (PF) uses information technology (IT) to ensure that the crops and soil get precisely what they need for growth and productivity. Precision farming aims to guarantee profitability, sustainability, and protection of the environment. It is also recognized as satellite agriculture, as-needed farming, and site-specific crop management (SSCM).

The precision farming market is estimated to be US$ 7.0 billion in 2020 and is projected to reach US$ 12.8 billion by 2025.

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Increasing farm mechanization and the growing need for optimum crop production with limited available resources drive the market growth of the precision farming market. Furthermore, changing weather patterns have also impelled the adoption of advanced farming technologies to enhance farm productivity. Precision farming has the potential to make traditional farming more efficient and predictable. This has led to the growth of this market.

Precision farming requires high capital costs. This restricts the growth of the precision farming agriculture market.

North America is expected to dominate the global precision farming market. The region is an early adopter of such technologies. Factors such as increasing government initiatives for the adoption of modern agriculture technologies have led to the growth of precision farming in this region. Another region that is expected to grow is Asia Pacific. According to India Brand Equity Foundation (IBEF) At 157.35 million hectares, India holds the second largest agricultural land in the world.

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Some of the key players in the market are Prospera Technologies Ltd., Descartes Labs Inc., Topcon Positioning Systems Inc, AgEagle Aerial Systems Inc., Ag Leader Technology Inc., AgJunction Inc, Raven Industries Inc., Trimble Inc., AGCO Corporation, and John Deere

In March 2020, AgJunction Inc. partnered with GeoSurf Corporation (GeoSurf) and Anhui Zhongke Intelligent Sense and Big Data Industrial Technology Research Institute Co. Ltd (ISTI) to provide precision agriculture solutions in the Asia-Pacific region

In December 2018, AgJunction Inc. entered into a partnership with Mahindra and Mahindra Ltd for preparing a statement of work for the future development products for the farmers.

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