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Leading Growth Driver in the Precision Farming Software Market in 2025: Rising Agricultural Production Fuels Growth In Precision Farming Software Market Driver's Influence
Precision Farming Software Market
The precision farming software market is projected to witness significant growth, fuelled by anticipated increases in agricultural production. Agricultural production involves the cultivation of crops, rearing of livestock, and output of various agricultural goods, either for human consumption, industrial utilization, or other applications. Precision farming applications have become a key tool in this sector owing to their ability to boost efficiency, productivity, and sustainability at every stage of the farming procedure. These software solutions provide comprehensive farm analytics and statistical data, coupled with complete transparency throughout the entire crop production process, starting from soil preparation up to harvesting. As an example, Agriculture and Agri-Food Canada, a governmental entity, states that Canada is set to witness a 34.1% surge in overall field crop production in January 2023 compared to 2021 levels. In the 2022-23 season, Canada's wheat production (excluding durum) experienced a 47% growth compared to the 2021-22 cycle, hitting 28.4 million metric tons, a statistic attributable to enlarged seeded areas and increased yields. Consequently, the upturn in agricultural production is propelling the expansion of the precision farming software market.
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What is the future CAGR of the precision farming software market, and how will it impact industry expansion?
Over the past few years, there has been a substantial growth in the precision farming software market. The market size, currently standing at $1.84 billion in 2024, is predicted to escalate to $2.12 billion in 2025, representing a compound annual growth rate (CAGR) of 15.1%. Factors contributing to this exponential growth during the said period include an increased average farm size, an amplified scarcity of farm labor, and an accelerated adoption of innovative technologies in precision farming aimed at reducing labor.
The market size for precision farming software is anticipated to experience swift expansion in the upcoming years. It is projected to expand up to $3.71 billion by 2029, with a compound annual growth rate (CAGR) of 15.0%. Factors leading to this growth during the predicted period include growing government initiatives and regulations to shift towards advanced agricultural practices, increased pressure on global food resources due to rising population, and the emerging use of internet-of-things (IoT) devices in farming sectors. Noteworthy trends during the forecast period consist of technological integration, progress and innovation in technology, and an upswing in product innovation.
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What are the most significant trends transforming the precision farming software market today?
Leading entities in the precision farming software market are prioritizing the launch of technological products like sophisticated precision agriculture displays in order to stay ahead in the evolving farming needs and maintain their competitive advantage. Precision agriculture displays, specialized electronic devices or software interfaces, are leveraged by farmers and farming professionals to accurately and efficiently supervise and control various segments of farming actions. For example, in October 2022, Trimble, an American firm offering precision farming solutions, rolled out the Trimble GFX-1060 and GFX-1260, groundbreaking precision agriculture displays. These are equipped with an Android-based operating system, heightened processing capacity, and can synchronize with the Trimble NAV-500 and NAV-900 Global Navigation Satellite System (GNSS) receivers, as well as the CenterPoint correction service. Furthermore, these operate with the robust Precision-IQ software facilitating management of all field operations and can serve to collect and control information and data onsite, which can then be scrutinized by using farm management software.
Which key market segments comprise the precision farming software market and drive its revenue growth?
The precision farming software market covered in this report is segmented -
1) By Delivery Model: Local Or Web Based, Cloud Based
2) By Service Provider: System Integrators, Managed Services Providers, Assisted Professional Services Providers, Connectivity services Providers, Maintenance, Software Upgradation And Support Services Providers
3) By Technology: Guidance Technology, Remote Sensing, Variable-Rate Technology
4) By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Inventory Management, Farm Labor Management, Financial Management, Other Applications
Subsegments:
1) By Local Or Web-Based: Installed Software, Web-Based Applications
2) By Cloud-Based: SaaS (Software As A Service), PaaS (Platform As A Service)
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What regions are at the forefront of precision farming software market expansion?
North America was the largest region in the precision farming software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the precision farming software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the precision farming software market?
Major companies operating in the precision farming software market are Deere And Company, CNH Industrial N.V., AGCO Corporation, Trimble Inc., Topcon Positioning Systems Corporation, AgDNA Pty Ltd., Bayer CropScience Aktiengesellschaft, DTN LLC, The Climate Corporation, Iteris Inc., Granular Inc., SenseFly (Parrot SA), Microdrones GmbH, AG Leader Technology Inc., AG Junction Inc., Taranis Visual Ltd., Farmers Edge Inc., Sentera LLC, Dickey-john Corporation, CropX Ltd., PrecisionHawk Inc., Conservis Corporation, SST Software, Fairport Farm Software, Farmeron Inc., Gamaya SA, Agribotix LLC, Agremo doo, Grownetics Inc., Mapshots Inc.
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What Is Covered In The Precision Farming Software Global Market Report?
•Market Size Forecast: Examine the precision farming software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the precision farming software market for a structured understanding.
•Key Players Overview: Analyze major players in the precision farming software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the precision farming software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the precision farming software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the precision farming software market.
•Industry Challenges: Identify potential risks and obstacles affecting the precision farming software market.
•Competitive Landscape: Review strategic developments in the precision farming software market, including expansions, agreements, and new product launches.
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