Press release
Emerging Trends Influencing The Growth Of The Precision Farming Software Market: Trimble Introduces Next-Generation Precision Agriculture Displays To Revolutionize The Precision Farming Market
Precision Farming Software Market Size
How Big Is the Precision Farming Software Market Size Expected to Be by 2034?
There has been a significant expansion in the size of the precision farming software market recently. Predictions for growth estimate a surge from $1.84 billion in 2024 to $2.12 billion in 2025 with a compound annual growth rate (CAGR) estimated at 15.1%. Factors driving this growth observed in the historic period include the expansion of average farm size, a growing lack of farm labor, and a rapid adoption of advanced technologies in precision farming that help reduce labor needs.
The market for precision farming software is predicted to experience substantial expansion in the upcoming years, ballooning to $3.71 billion by 2029 with a 15.0% compound annual growth rate (CAGR). This predicted growth during the forecast period is due to several factors, including increased governmental efforts, regulatory pressure to use modern agriculture methods, a rising pressure on global food supplies due to a growing population, and an escalating acceptance of internet of things (IoT) devices within farming sectors. In addition, the forecast period will see significant trends such as technological integration, advances and groundbreaking developments in technology, and a boost in product innovation.
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What Are the Emerging Segments Within the Precision Farming Software Market?
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 Long-Term Drivers Are Shaping Precision Farming Software Market Trends?
The precision farming software market is anticipated to experience an upswing, driven by an increase in agricultural output. This output pertains to crop cultivation, livestock rearing, and the production of various agricultural goods for human consumption, industrial applications, or other uses. Precision farming software plays a crucial role in this process, boosting efficiency, productivity, and sustainability at every stage of farming. It does so by providing advanced farm analytics and statistics along with total transparency throughout the crop production cycle, spanning from soil preparation right up to the harvest. For instance, in January 2023, as per Agriculture and Agri-Food Canada, a government department in Canada, the country's field crop output is predicted to rise by 34.1% compared to 2021. During the period of 2022-23, wheat production in Canada (excluding durum) soared by 47% in comparison to 2021-22, reaching 28.4 million metric tons, spurred by increased seeding areas and better yields. Consequently, the ascension in agricultural production is fuelling the expansion of the precision farming software market.
Who Are the Top Competitors in Key Precision Farming Software Market Segments?
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.
What Precision Farming Software Market Trends Are Gaining Traction Across Different Segments?
Top firms in the precision farming software market are channeling their efforts towards the creation of innovative tech products like advanced precision agriculture displays to meet the evolving agricultural needs and secure a competitive advantage in the market. Precision agriculture displays are specialized electronics or software interfaces used by farmers and agri-professionals to closely monitor and manage many facets of farming operations for maximum efficiency. For example, in October 2022, precision farming solutions supplier, Trimble, based in the US, unveiled the Trimble GFX-1060 and GFX-1260. These latest precision agriculture displays come with an Android-based OS, superior processing powers, and are compatible with Trimble NAV-500 and NAV-900 Global Navigation Satellite System (GNSS) receivers and the CenterPoint correction service. Furthermore, these devices run the powerful Precision-IQ software to provide comprehensive management of field operations and can be used to gather and manage field data and information, which can then be studied using farm management software.
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Which Regions Are Becoming Hubs for Precision Farming Software Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Precision Farming Software Market?
2. What is the CAGR expected in the Precision Farming Software Market?
3. What Are the Key Innovations Transforming the Precision Farming Software Industry?
4. Which Region Is Leading the Precision Farming Software Market?
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