Precision Farming Market: Amplifying Growth, Driven by a CAGR of 14.8% and Climbing to $17.79 Billion by 2029

"An evolving interest in sustainability, and development in technologies like big data, IoT devices, and digital farming platforms is driving global precision farming market growth.

What Is The Projected Market Size Of The Global Precision Farming Market And Its Growth Rate?
The global precision farming market has seen rapid expansion in recent years and is set to continue this trajectory:
• Growth from $8.86 billion in 2024 to $10.24 billion in 2025 at a CAGR of 15.6% has been driven by factors like the growing population, environmental concerns, and governmental support.
• The market is projected to reach $17.79 billion in 2029 at a CAGR of 14.8%. This future growth is expected to be fueled by adaptation to climate change and a focus on sustainability.

What Is Driving The Growth In The Precision Farming Market?
The surge in demand for food is one of the primary drivers for the growth of the precision farming market. Precision farming employs advanced agricultural methods that involve the use of technology to observe, measure, and analyze the needs of individual fields and crops, producing higher yields. For instance, according to the USDA Foreign Agricultural Service, global wheat production exceeded in 2023-2024 the production levels of 2022-2023. Therefore, the burgeoning demand for food and its production will continue to stimulate the growth of the precision farming market in the future.

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Who Are the Key Players Driving Precision Farming Market Growth?
The precision farming market growth is supported by various key players such as:
• Deere and Company
• Trimble Inc
• AGCO Corporation
• AgJunction Inc
• Raven Industries Inc
• And others

What Are The Key Trends In The Precision Farming Market?
Major trends contributing to the thriving precision farming market include:
• Big data and analytics
• Digital farming platforms
• Drone technology
• Robotics and automation
• Smart sensors and IoT devices
• Precision livestock farming
• Collaborations and partnerships

What Are The Segments Of The Global Precision Farming Market?
The global precision farming market can be segmented as follows:
• By Offering: Hardware, Software, Services
• By Technology: Guidance Technology, Remote Sensing Technology, Variable Rate Application
• By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications

Which Region Leads The Precision Farming Market?
North America held the largest share of the precision farming market in 2024. The precision farming market report encompasses all regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Precision Farming Market Global Market Report?
- Market Size Analysis: Analyze the Precision Farming Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Precision Farming Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Precision Farming Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Precision Farming Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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