North America Precision Agriculture Market Statistics, Industry Growth Analysis, Share, Size, and Report 2022-2027

According to the latest report by IMARC Group, titled "North America Precision Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the North America precision agriculture market size reached US$ 3.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2027, exhibiting a growth rate (CAGR) of 12.27% during 2022-2027. Precision agriculture, also called satellite agriculture or site-specific crop management (SSCM), represents among the most popular innovations witnessed by modern farming. It is used for managing accurate variabilities within a field to grow more food with fewer agricultural inputs while minimizing the overall production cost. In addition to this, precision agriculture relies upon specialized equipment, software, and IT services to offer real-time data regarding the condition of the soil, ambient air, crops, and other important information, including labor costs, availability of equipment, local weather predictions, etc. Farmers use the recovered data to know accurate planting times, crop rotation, harvesting times, etc. Precision agriculture aids them in reducing the usage of water, pesticides, herbicides, fertilizers, etc., thereby making the technique cost-effective.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic.

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North America Precision Agriculture Market Trends:

The escalating demand for smartphones and other intelligent mediums among farmers to remain updated regarding the latest development in the agricultural sector is primarily augmenting the North America precision agriculture market. Besides this, the increasing utilization of precision agriculture to determine the peak conditions required for plant growth by placing sensors throughout the place is also positively influencing the regional market. Furthermore, these sensors are connected to digital applications and record rainfall and soil conditions in various areas, thereby helping them to maximize their benefits. Apart from this, the widespread adoption of precision agriculture to visualize production levels, soil moisture, and sunlight intensity in real-time and remotely accelerate the decision-making process is acting as another significant growth-inducing factor. Moreover, the data collected from these techniques enable agronomists to properly analyze the production quality and result in better correlation to treatments, which is expected to fuel the North America precision agriculture market in the coming years.

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North America Precision Agriculture Market 2022-2027 Analysis and Key Market Segmentation:

Breakup by Technology:

• GNSS/GPS Systems
• GIS
• Remote Sensing
• Variable Rate Technology (VRT)

Breakup by Type:

• Automation and Control Systems
• Sensing and Monitoring Devices
• Farm Management Systems

Breakup by Component:

• Hardware
• Software

Breakup by Application:

• Mapping
• Crop Scouting
• Yield Monitoring
• Soil Monitoring
• Precision Irrigation
• Others

Breakup by Regions:

• United States
• Canada

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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