Revolutionizing Farming: Precision Agriculture Market to Grow from USD 6.46 Billion by 2020 to USD 23.05 Billion By 2030 at 13.4% CAGR

According to the report published by Allied Market Research, Revolutionizing Farming: Precision Agriculture Market to Grow from USD 6.46 Billion by 2020 to USD 23.05 Billion By 2030 at 13.4% CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in adoption of smartphones in agriculture, surge in growth rate of population, and increase in adoption of emerging technologies drive the growth of the global precision agriculture market. However, lack of awareness about precision agriculture products and huge investment required for precision agriculture equipment restrain the market to some extent. On the other hand, increase in government initiative in the precision agriculture technology and rise in investments in technologies such as driverless tractors, guidance systems, and GPS sensing systems advancements present new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 265 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/1422

The precision agriculture market size was valued at $6,457 million in 2020, and is projected to reach $23,056 million by 2030, growing at a CAGR of 13.4% from 2020 to 2030.

The precision agriculture market is segmented on the basis of component, application, technology, and region. By component, it is categorized into hardware, software and service. Depending on application, it is categorized into yield monitoring, field mapping, crop scouting, weather tracking & forecasting, irrigation management, inventory management, farm labor management, and others. By technology, it is categorized into guidance technology, remote sensing technology, and variable-rate technology. On the basis of region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐬𝐮𝐦𝐦𝐚𝐫𝐲 𝐚𝐭: https://www.alliedmarketresearch.com/precision-agriculture-market

Key Industry Developments

April 2024: John Deere launched a new autonomous tractor with advanced GPS and AI technology, allowing for precise planting, harvesting, and field monitoring. The tractor is expected to revolutionize precision farming in North America by reducing labor costs and improving operational efficiency.

February 2024: Trimble introduced a new cloud-based platform that integrates farm management software with real-time data analytics, allowing farmers in Europe and North America to optimize resource usage and track crop health. This development is expected to improve decision-making and reduce environmental impact in farming operations.

November 2023: Kubota partnered with Topcon Corporation to develop an advanced precision farming system for the Asia-Pacific market, focusing on automated machinery and real-time monitoring to enhance crop yields. This collaboration addresses the rising demand for smart agriculture solutions in the region.

August 2023: AGCO Corporation acquired Farmobile, a data-driven agriculture platform specializing in real-time crop health monitoring and predictive analytics. This acquisition is expected to strengthen AGCO's presence in Latin America and Europe, providing farmers with better tools for precision farming.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/1422

Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global precision agriculture market. This is attributed due to the increasing inclination of the farmer's towards the use of digital technology for yield management. Moreover, Asia-Pacific region is expected to witness the fastest CAGR of 15.7% during the forecast period, owing to strong economic growth along with the ongoing development in the agriculture sector.

Leading players of the global platform as a service market analyzed in the research include AWS, Alibaba Cloud, Microsoft, Salesforce, IBM, Oracle, Google, Zoho Corporation, SAP, and Mendix.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1422

Covid-19 Scenario

● Due to the outbreak of the COVID-19 pandemic, the market has witnessed a slight decline in hardware revenue in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of the cities to prevent the transmission of virus.

● Nevertheless, the global situation is expected to come on normal track from mid-2021.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (265 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/precision-agriculture-market/purchase-options

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