Precision Agriculture Meets Rising Food Demand Through Data-Driven Solutions Driver: A Major Catalyst in the Evolution of the Precision Agriculture Market in 2025

What combination of drivers is leading to accelerated growth in the precision agriculture market?
The booming demand for food is anticipated to drive the expansion of the precision agriculture market in the future. Food, which refers to any substance ingested to gain nutritional sustenance for a living organism, is becoming increasingly in demand due to reasons like population increase, economic advancement, and shifting dietary trends. Precision farming plays a pivotal role in assisting farmers in identifying and tackling issues like soil deterioration, nutrient shortages, and pest invasions immediately. By utilizing data-driven insights, farmers can enhance crop durability and reduce loss of yield through the introduction of targeted measures like soil rectifications, crop rotations, and pest control methods. For instance, in October 2024, the World Bank Group, a US business focused on International Trade and Development, anticipated that by 2050 the global population will hit 10 billion. This surge will necessitate a 60% boost in food production to meet the escalating demand while grappling with the increasing threats posed by rapid climate change. As a result, the burgeoning demand for food is fueling the expansion of the precision agriculture market.

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What is the projected compound annual growth rate (CAGR) of the precision agriculture market from 2025 to 2034, and what factors influence it?
The market for precision agriculture has seen swift expansion in prior years. The predictions show an increase from $7.78 billion in 2024 to $8.71 billion by 2025 with a compound annual growth rate (CAGR) of 12.0%. Factors such as rising farm size and complexity, growing food demand, and the surge in IoT and AI-based agricultural solutions have contributed to this historical growth.

Anticipated to witness a swift expansion in the coming years, the precision agriculture market is predicted to attain a worth of $13.59 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 11.8%. The surge during the prediction period is assumed to be driven by the growing embrace of artificial intelligence and machine learning, escalating needs for food security, and consumer requirement for transparency and traceability. Some of the key trends for the projection period are customised crop management solutions, the implementation of blockchain for tracking, and progress in remote sensing technologies.

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How are the latest trends influencing the growth of the precision agriculture market?
Leading corporations in the precision agriculture sector are directing their efforts towards the creation of precision agriculture systems such as Arc Farm Intelligence, which are intended to deliver digital farming management solutions. This all-inclusive platform incorporates an array of technologies and practices to help augment crop yield, offering real-time data and analysis to the farming community. For example, FMC India, a chemical company based in India, introduced Arc Farm Intelligence, a meticulous agricultural platform in March 2024, with the goal of assisting farmers in boosting productivity and improving agricultural sustainability. The system aims to provide seamless connectivity, efficient data orderliness, and relevant task management abilities in collaboration with advisers, farmers, and various other involved parties. The platform, along with all required field surveillance gear, is given to the farmer free of charge, illustrating FMC's dedication to ensuring small-scale and traditionally underserved farmers are able to leverage cutting-edge technologies.

What are the major segments of the precision agriculture market and their role in driving growth?
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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Which regions are key players in the growth of 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.

Who are the key firms paving the way for growth in the precision agriculture market?
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

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What Is Covered In The Precision Agriculture Global Market Report?

•Market Size Forecast: Examine the precision agriculture market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the precision agriculture market for a structured understanding.
•Key Players Overview: Analyze major players in the precision agriculture market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the precision agriculture market.
•Segment Contributions: Evaluate how different segments drive overall growth in the precision agriculture market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the precision agriculture market.
•Industry Challenges: Identify potential risks and obstacles affecting the precision agriculture market.
•Competitive Landscape: Review strategic developments in the precision agriculture market, including expansions, agreements, and new product launches.

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