Precision Agriculture Market Size, Forecast & Impact of AI, Drones, and IoT in Farming By 2031 | Most Leading Companies - AGCO Corporation, Agribotix LLC, Agjunction Inc., CropMetrics LLC

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 by DataM Intelligence delivers deep insights and analysis into the latest market trends, growth opportunities, and emerging challenges. Designed to help businesses make smarter, faster decisions, our reports combine both data-driven analysis and expert perspectives. At DataM Intelligence, we're committed to turning complex market landscapes into clear, actionable strategies so you can stay competitive, grow confidently, and seize the right opportunities in a rapidly changing world.

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The Precision Agriculture refers to the industry centered around technologies and solutions-such as GPS, IoT, AI, drones, and sensors-designed to optimize farming practices by enhancing crop yields, reducing resource use, and improving overall farm productivity through data-driven decision-making.

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, Canadian AgTech company Semios, known for its precision farming solutions in the permanent crop sector, announced the acquisition of farm management platform Agworld. This strategic move brings together two industry leaders to create a global, independent AgTech powerhouse that will serve 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 its agreement to acquire all outstanding shares of Raven Industries, Inc. (NASDAQ: RAVN), a U.S.-based pioneer in precision agriculture technology. The deal, valued at US$58 per share, represents a 33.6% premium over Raven's 4-week volume-weighted average stock price and brings the total enterprise value to approximately US$2.1 billion.

On December 2, 2021, CNH Industrial N.V. further expanded its digital agriculture capabilities by acquiring NX9, a U.S.-based software company specializing in ISOBUS core technologies and applications for agricultural machinery.

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:

⇥ 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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