Precision Agriculture Market: Harnessing Technology for Sustainable Farming Growth | Most Leading Companies - AGCO Corporation, Agribotix LLC, Agjunction Inc., CropMetrics LLC, Deere and Company, Farmers Edge Inc

The Global Precision Agriculture Market reached USD 7 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 18 billion by 2031. The market is expected to exhibit a CAGR of 12.5% during the forecast period 2024-2031.

Precision Agriculture Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Precision Agriculture is an innovative farming management concept that uses advanced technology and data analysis to optimize the efficiency of farming practices. It integrates tools like GPS, IoT sensors, drones, and AI to monitor and manage crop production, soil health, water usage, and more, ensuring that resources are used efficiently and sustainably.

List of the Key Players in the Precision Agriculture Market:

AGCO Corporation, Agribotix LLC, Agjunction Inc., CropMetrics LLC, Deere and Company, Farmers Edge Inc., Grownetics, Inc., Granular, Inc, Raven Industries, and Trimble, Inc.

Industry Development:

On August 24, 2021, Semios, a Canada-based leader in precision farming for permanent crops, announced its acquisition of Agworld, a farm management platform, to create a global AgTech powerhouse. The combined entity will provide services to growers, agronomists, and agricultural retailers across the U.S., Canada, Australia, New Zealand, Europe, and South Africa.

On June 23, 2021, CNH Industrial N.V. revealed it had reached an agreement to acquire 100% of Raven Industries, Inc. (NASDAQ: RAVN), a U.S.-based leader in precision agriculture technology, for US$58 per share. This acquisition, which represents a 33.6% premium over Raven's 4-week volume-weighted average stock price, is valued at US$2.1 billion in enterprise value.

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Growth Forecast Projected:

The Global Precision Agriculture Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Precision Agriculture Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Precision Agriculture Market:

By Offering: Software, Hardware, Services

By Application; Crop Scouting, Field Mapping, Precision Irrigation, Irrigation Management, Weather Tracking & Forecasting, Yield Monitoring, Others

By Technology; Remote Sensing, Guidance System, Variable Rate Technology

Regional Analysis for Precision Agriculture Market:

The regional analysis of the Precision Agriculture Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Precision Agriculture market?

➠ Who are the leading manufacturers in the global Precision Agriculture industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Precision Agriculture industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Precision Agriculture market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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