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Precision Agriculture Meets Rising Food Demand Through Data-Driven Solutions: Major Factor in the Transformation of the Precision Agriculture Market in 2025
Precision Agriculture Market Report
The precision agriculture market has seen rapid growth in recent years. It will grow from $7.78 billion in 2024 to $8.71 billion in 2025, at a CAGR of 12.0%. The growth is attributed to larger and more complex farms, the rising demand for food, and the adoption of IoT and AI-based agricultural solutions.
The precision agriculture market is projected to grow rapidly, reaching $13.59 billion in 2029 at a CAGR of 11.8%. Growth is driven by the adoption of AI and machine learning, food security concerns, and demand for transparency and traceability. Major trends include personalized crop management, blockchain integration for traceability, and advancements in remote sensing.
What Key Elements Are Boosting Growth in the Precision Agriculture Market?
The increasing global food demand is expected to drive the precision agriculture market forward. Food refers to any substance consumed for nutritional sustenance. The demand for food continues to rise due to factors such as population growth, economic development, and evolving dietary preferences. Precision agriculture helps farmers mitigate challenges like soil degradation, nutrient deficiencies, and pest infestations by providing real-time data insights for targeted interventions, including soil treatments, crop rotation, and pest control. For instance, in October 2024, the World Bank Group, a U.S.-based international trade and development organization, projected that the global population would reach 10 billion by 2050, necessitating a 60% increase in food production to meet demand while addressing climate change challenges. Therefore, rising food demand is accelerating the growth of the precision agriculture market.
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Who Are the Major Industry Players Fueling Precision Agriculture Market Expansion?
Major companies operating in the precision agriculture market report are Deere & Company; Corteva Agriscience; Monsanto Company; Syngenta AG; AGCO Corporation; Trimble Inc.; Raven Industries Inc.; Planet Labs Inc.; The Climate Corporation; Farmers Edge Inc.; Solinftec Inc.; Ag Leader Technology Inc.; Iteris Inc.; DICKEY-John Corporation; Taranis Visual Ltd.; AgJunction Inc.; Farmobile LLC; Arable Labs Inc.; The Yield Technology Solutions Pty Ltd.; Topcon Positioning Systems Inc.; Agribotix LLC; SlantRange Inc.; AquaSpy Inc.; Agworld Pty Ltd.; CropMetrics LLC
Which Key Developments Are Influencing the Precision Agriculture Market?
Key players in the online exam software industry are prioritizing the development of sophisticated technological solutions, such as the Percipio platform, to assess employee skills through a criterion-based methodology. Developed by Skillsoft, Percipio is a learning experience platform offering various educational resources, including courses, videos, and books, to facilitate corporate training and skill development. For example, in March 2022, Skillsoft's Skill Benchmark Assessment, a U.S.-based corporate learning provider, integrated its software with the Percipio platform to help organizations evaluate employee competencies effectively. These expert-designed assessments ensure accuracy in identifying skill gaps and optimizing workforce development.
How Is the Segmentation of the Precision Agriculture Market Defined?
The precision agriculture market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Technology: Guidance Technology, Remote Sensing Technology, Variable-Rate Technology
3) By Application: Yield Monitoring, Field Mapping Telematics, Crop Scouting, Weather Tracking And Forecasting, Inventory Management, Farm Labor Management, Other Applications
Subsegments:
1) By Hardware: Sensors, GPS Systems, Drones And Uavs, Tractors And Farm Machinery, Automated Irrigation Systems
2) By Software: Farm Management Software, Data Analytics Software, Remote Sensing Software, Precision Irrigation Software
3) By Service: Consulting Services, Support And Maintenance Services, System Integration Services
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What Is the Leading Region in the Precision Agriculture Market?
North America was the largest region in the precision agriculture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the precision agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Precision Agriculture Global Market Report?
- Market Size Analysis: Analyze the Precision Agriculture Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Precision Agriculture 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 Agriculture Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Precision Agriculture Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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