Global Precision Farming Market Growth Prospects, Future Industry Landscape 2032 | Deere and Company, Trimble Inc., AGCO Corporation, AgJunction Inc., Raven Industries Inc., AG Leader Technology

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Precision Farming Global Market Report 2023 identifies the growing demand for food is expected to propel the growth of the precision farming market going forward. Food refers to the substance comprising all essential nutrients such as protein, carbohydrates, fat, and others used in the body of an organism to sustain growth. Food demand is growing due to population expansion and economic development. Precision farming is the advanced method of agriculture that observes, measures, and analyzes the needs of individual fields and crops through the use of technology, thereby producing a much higher yield.

The global precision farming market size grew from $6.8 billion in 2022 to $7.9 billion in 2023 at a compound annual growth rate (CAGR) of 16.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The precision farming market size is expected to grow to $13.68 billion in 2027 at a CAGR of 14.7%.

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Major players in the precision farming market are Deere and Company, Trimble Inc., AGCO Corporation, AgJunction Inc., Raven Industries Inc., AG Leader Technology, Teejet Technologies Private Limited, Topcon Positioning Systems, DICKEY-john Corporation, CropMetrics LLC, Monsanto Company, CropX Technologies Ltd., Agribotix, AgEagle Aerial Systems Inc., Granular Inc., Hexagon Agriculture, ClearAg Operations, AgSmarts Inc., Intelligent Agricultural Solutions LLC, and Grownetics Inc.,

A key trend in the Precision Farming market includes the Technological advancements are a key trend gaining popularity in the precision farming market. Advanced precision technology innovation is cantered on sustainable agriculture and healthy food production, and it includes profitability, increased production, economic efficiency, and reduced environmental adverse effects. Major companies operating in the precision farming market are focused on developing advanced technologies to sustain their position in the market.

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The Precision Farming market is segmented -
1) By Offering: Hardware, Software, Services
2) By Technology: Guidance Technology, Remote Sensing Technology, Variable Rate Application
3) By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications

By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Precision Farming market.

The Business Research Company's "Global Precision Farming Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Precision Farming Market Include:
1. Executive Summary
2. Precision Farming Market Characteristics
3. Precision Farming Market Trends And Strategies
4. Precision Farming Market - Macro Economic Scenario
5. Precision Farming Market Size And Growth
……
27. Precision Farming Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Precision Farming Market
29. Precision Farming Market Future Outlook and Potential Analysis
30. Appendix

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