Precision Agriculture Market Growth, Trends & Technology Innovations 2024-2031 | Top key players - AGCO Corporation, Agribotix LLC, Agjunction Inc.

The latest report published by DataM Intelligence highlights the growth prospects of Precision Agriculture market. The industry expansion is majorly driven by developments in technology across the globe.

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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 is a modern farming approach that uses advanced technologies like GPS, IoT, and data analytics to optimize crop yields, reduce waste, and enhance sustainability. By monitoring variables such as soil health, weather patterns, and crop growth in real-time, farmers can make data-driven decisions to improve efficiency, lower costs, and increase productivity.

Competitive Evaluation:

Companies covered in this report are AGCO Corporation, Agribotix LLC, Agjunction Inc., CropMetrics LLC, Deere and Company, Farmers Edge Inc., Grownetics, Inc., Granular, Inc, Raven Industries, and Trimble, Inc.

The Precision Agriculture Market analysis identifies a number of major market players. It enables companies to understand the strategies and partnerships used by other industry players to combat market competition. The comprehensive market report provides a fascinating microscopic look at the market. Corporations can detect the footprints of manufacturers by learning about demand, the global price of manufacturers, and the global benefit of manufacturing companies.

Key Development

On August 24, 2021, Semios, a Canada-based company renowned for its precision farming platform in the permanent crop market, announced its acquisition of Agworld, a farm management platform. The merger aims to form a global AgTech powerhouse, providing services to growers, agronomists, and ag retailers across the U.S., Canada, Australia, New Zealand, Europe, and South Africa.

On June 23, 2021, CNH Industrial N.V. revealed an agreement to acquire 100% of the capital stock of Raven Industries, Inc., a U.S.-based leader in precision agriculture technology, for US$58 per share. This acquisition, valued at US$2.1 billion, represents a 33.6% premium over Raven Industries' 4-week volume-weighted average stock price.

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Precision Agriculture Market Segments

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviors.

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 Assessment:

Regional analysis includes segmentation based on the geography that accentuates the recent and future demand for Precision Agriculture market across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also focuses on the demand for each application segment over all the prominent regions.

⇥ 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)

In terms of geographical analysis, Precision Agriculture Market report provides an in-depth view of:-

∎ Regional level break-up
∎ Leading growth rates
∎ Countries with the largest market share
∎ Market factors
∎ Latest developments
∎ Industry challenges
∎ Regulatory policies
∎ Player strategies

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This report provides a 360-degree synopsis of the competitive scenario of the Precision Agriculture industry. It has enormous awareness joined to the ongoing item and technical improvements in the business sector. It has a thorough analysis of the impact of the potential future development of these headways, a wide-ranging review of those extensions available for future growth.

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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