Global Precision Agriculture Market Analysis, Key Trends, Growth Opportunities, Challenges And Key Players By 2030

Market Overview:
The Precision Agriculture Market is anticipated to develop at a significant growth rate over the forecasted timeframe of 2022-2028, considering 2021 as the base year.

Precision agriculture is an intelligent farming practice that utilizes information technology to optimize soil and plant health, leading to increased productivity. Its main goals are sustainability, profitability, and environmental protection. The agricultural sector has undergone significant changes, with a focus on maximizing revenue through efficient farming practices. Technological advancements and widespread adoption by farmers are driving market growth. The use of telematics in farming applications is increasing, benefiting the precision agriculture market. Major agricultural equipment manufacturers are embracing telematics services to improve farm efficiency, reduce costs, and maximize profitability.

Analysis of the Top Market Players:
• AgJunction Inc. (Canada)
• Raven Industries Inc. (U.S)
• CNH Industrial N.V. (U.K)
• Deere & Company (U.S)
• Trimble, Inc. (U.S)
• Iteris Inc. (U.S)
• Topcon Corporation (Japan)
• PrecisionHawk (U.S)
• SenseFly (Cheseaux-sur-Lausanne)
• DICKEY-john (Auburn)
• SST Development Group, Inc. (U.S)
• Agribotix LLC (U.S), and other major players.

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Market Dynamics:
Driver:
The increasing use of smartphones has resulted in the creation of smartphone-compatible software. Major manufacturers have introduced advanced applications that can be used on any smartphone. These applications allow farmers to monitor their fields from any location, with data being stored in the cloud for backup through smartphone integration. Smartphones meet the basic needs of farmers by supporting connectivity options such as USB, Bluetooth, and Wi-Fi. As a result, the growing adoption of smartphones presents profitable prospects for the global precision agriculture market. The advancements in technology and user-friendly interfaces have improved farming facilities. A significant change in agriculture is the use of mobile phones for farm management and monitoring. This increased adoption of smartphones in farming practices contributes to the growth of the precision agriculture market.

Opportunities:
AI-based tools and applications enhance farming practices by providing accurate information and guidance on fertilizer use, water management, crop rotation, pest control, and suitable crop selection based on soil conditions. These tools employ satellite imagery and AI algorithms to detect pests and diseases, forecast weather conditions, monitor soil nutrition and quality, and ensure crop health. By leveraging AI, farmers can achieve high-quality yields, seize market opportunities, and expand their operations.

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The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis
• SWOT Analysis

Segmentation of The Precision Agriculture Market:
By Component
• Hardware
• Software
• Services

By Technology
• Remote sensing
• GPS/GNSS systems
• Variable rate technology
• Guidance software
• Geomapping

By Application
• Crop Management
• Weather Forecasting
• Irrigation Management
• Field Mapping
• Yield Monitoring
• Others

Regional Analysis of Precision Agriculture Market
The Asia Pacific region is expected to have the highest share of the precision agriculture market over the analysis period. Several government initiatives are being undertaken in developed and developing nations such as Sri Lanka, Nigeria, and India to stimulate the implementation of modern precision farming technologies. Additionally, the continuous practice of precision agriculture allows growers to enhance production with decreased human effort and wastage of resources, thereby maximizing profitability. Further, decisions regarding agricultural inputs such as soil humidity and weather pattern research, applying nutrients, and diversity in rotating crops are made convenient for farmers with the use of precision farming. For instance, Israel and China signed a trade agreement worth USD 300 million in September 2017 to simplify the export of environment-friendly Israeli technology to China. Owing to all such factors, Asia Pacific is estimated to continue its dominance over the projected timeframe.
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

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Key Industry Development In The Precision Agriculture Market
In December, 2019, Precision Hawk announced a $32 million investment from venture investors including Third Point Ventures, Millennium Technology Value Partners, Eastward Capital Partners, and others. The company further stated that they'll use this financing to develop the next generation of Precision Analytics, and their A.I.-powered aerial data analytics platform. The companies will further be investing in servicing and sales operations to address the growing demand for commercial drone services.

In March, 2022, Raven Industries, Inc. (the Company), the leader in Driverless Ag Technology, declared the launch of OMNiPOWER™ 3200, the latest model of its autonomous power platform that further continues to boost innovation in the industry. OMNiPOWER™ gives ag professionals the ability to undergo multiple farming operations autonomously. The new 3200 model will later boost the adoption of advanced autonomous solutions with the addition of mechanical, functional, and aesthetic enhancements that will improve efficiency and make autonomy more practical for growers.

Table of Content:

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Component
 3.2 By Technology
 3.3 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Precision Agriculture Market by Component
 5.1 Precision Agriculture Market Overview Snapshot and Growth Engine
 5.2 Precision Agriculture Market Overview
 5.3 Hardware
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Hardware: Geographic Segmentation
Continue.

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