Press release
Precision Agriculture Meets Rising Food Demand Through Data-Driven Solutions: A Key Driver Powering Precision Agriculture Market Growth In 2025
Precision Agriculture Market
What Is the Current Precision Agriculture Market Size and Its Estimated Growth Rate?
In the last few years, the size of the precision agriculture market has experienced swift expansion. The growth is forecasted to increase from $7.78 billion in 2024 to $8.71 billion in 2025, with a compound annual growth rate (CAGR) of 12.0%. The enlargement during the past period is due to the growth in complexity and size of farms, increased food demand, and raised interest in both IoT and AI-based agriculture solutions.
In the coming years, the market size of precision agriculture is projected to experience swift growth, reaching $13.59 billion by 2029 with a compound annual growth rate (CAGR) of 11.8%. The growth during this projected period is due to the rising adoption of AI and machine learning, burgeoning demand for food security and a growing consumer requirement for transparency and traceability. The forecast period will witness major trends like tailored crop management solutions, the incorporation of blockchain for traceability and progress in remote sensing technologies.
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How Are Emerging Segments Shaping the Precision Agriculture Market Landscape?
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 Growth Factors Are Influencing Precision Agriculture Market Expansion?
The surge in food necessity is anticipated to propel the precision agriculture market's expansion. Food is defined as any substance that is eaten to provide nutritional sustenance for an organism. Population growth, economic progress, and evolving dietary habits contribute to this rising food demand. Precision agriculture assists farmers in pinpointing and addressing issues like soil degradation, nutrient shortages, and pest infestations in real time. Using data-driven insights, farmers can bolster crop resilience and curb yield losses through strategic interventions like soil enhancements, crop rotation, or pest control strategies. For example, in October 2024, the World Bank Group, a US-based International Trade and Development Organization, estimated that by 2050, the global population will reach 10 billion. This surge will compel a 60% increase in food production to satisfy the escalating demand while concurrently grappling with the complex issues that rapid climate change presents. Consequently, the burgeoning food demand is spurring the growth of the precision agriculture market.
Who Are the Dominant Players Across Different Precision Agriculture Market Segments?
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
What Are the Latest Developing Trends in the Precision Agriculture Market?
Leading companies in the precision agriculture market are pioneering platforms like Arc Farm Intelligence to deliver digital solutions for farm management. This precision agriculture program is a holistic system that merges various technologies and methods to maximize crop yield by offering real-time information and analysis to farmers. For example, FMC India, a chemical corporation based in India, launched Arc Farm Intelligence in March 2024. This precision agriculture platform assists farmers in boosting productivity and promoting sustainable agriculture. It is designed to provide seamless connectivity, efficient data management, and relevant task coordination skills in collaboration with advisers, farmers, and other interested parties. The platform and any necessary field monitoring tools are supplied free of charge to the farmer, reflecting FMC's commitment to guaranteeing small-scale and historically marginalized farmers have access to cutting-edge technologies.
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Which Geographic Regions Are Expected to Dominate the Precision Agriculture Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Precision Agriculture Market?
2. What is the CAGR expected in the Precision Agriculture Market?
3. What Are the Key Innovations Transforming the Precision Agriculture Industry?
4. Which Region Is Leading the Precision Agriculture Market?
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