Comprehensive Precision Farming Market Forecast 2025-2034: Growth Trends and Strategic Shifts

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Precision Farming Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of precision farming has seen a swift surge in growth in the recent past. An increase from $9.15 billion in 2024 to $10.52 billion in 2025 is anticipated, with a compound annual growth rate (CAGR) of 15.0%. The growth witnessed during the historic period is due to factors such as rising population, environmental issues, governmental backing, and farm consolidation.

Precision Farming Market Size Forecast: What's the Projected Valuation by 2029?
The market size for precision farming is projected to witness a rapid expansion in the coming years, ballooning to $17.47 billion in 2029 with a compound annual growth rate (CAGR) of 13.5%. The expected growth in the forecast period could be due to the need to adapt to climate change and an emphasis on sustainability. The leading trends for the forecast period involve big data and analytics, digital farming platforms, drone technology, robotics and automation, smart sensors and IoT devices, precision livestock farming, as well as collaboration and partnerships.

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What Are the Drivers Transforming the Precision Farming Market?
The escalating need for food is anticipated to drive the expansion of the precision farming market in the future. Food, encompassing vital nutrients such as protein, carbohydrates, and fat, is essential for an organism's growth. Precision farming employs modern agricultural methods that utilize technology to observe, measure, and analyze the needs of individual fields and crops, resulting in significantly higher yields. For example, the USDA Foreign Agricultural Service, a US government agency, reported in November 2023 that global wheat production for 2023-2024 was 790.54 million metric tons, an increase from 789.49 million tons in 2022-2023. Consequently, the burgeoning demand and production of food will bolster the precision farming market's growth.

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What Are the Key Trends Driving Precision Farming Market Growth?
Advancing technology is becoming a prominent trend in the precision farming industry. The focus of these cutting-edge precision technology innovations is to foster sustainable agriculture and healthy food production. They are designed to enhance yield, maximize economic efficiency, boost profitability, and minimize negative effects on the environment. Major players in the precision farming sector are striving to create advanced technologies to maintain their market standing. As an example, JCB, a British company specializing in machinery for agriculture, construction, waste disposal, and demolition, unveiled their latest Fastrac iCON tractor with built-in precision technology for precision farming purposes in April 2022. The tractor boasts exceptional features such as a Universal Terminal, AUX-N abilities, and straightforward task control (TC-BAS). It incorporates a GPS that uses the JCB interface and a NOVATEL Smart-7 receiver and is outfitted with DAB radio and Bluetooth connectivity under hardware control. Furthermore, it encompasses iCONFIGURE, iCONNECT, and iCONTROL for better performance and unprecedented options for operators.

Which Segments in the Precision Farming Market Offer the Most Profit Potential?
The precision farming market covered in this report is segmented -

1) By Offering: Hardware, Software, Services
2) By Technology: Guidance Technology, Remote Sensing Technology, Variable Rate Application
3) By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Irrigation Management, Inventory Management, Farm Labor Management, Other Applications

Subsegments:
1) By Hardware: Sensors, GPS Devices, Drones And UAVs, Automated Machinery, Variable Rate Technology (VRT) Equipment
2) By Software: Farm Management Software (FMS), Data Analytics Platforms, Precision Agriculture Mapping Software, Crop Monitoring And Prediction Tools
3) By Services: Consulting Services, Training And Support Services, Data Analysis And Interpretation Services, Maintenance And Repair Services

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Which Firms Dominate the Precision Farming Market by Market Share and Revenue in 2025?
Major companies operating in the precision farming market include Deere and Company, Trimble Inc, AGCO Corporation, AgJunction Inc, Raven Industries Inc, AG Leader Technology, Teejet Technologies Private Limited, Topcon Positioning Systems, DICKEY-john Corporation, CropMetrics LLC, CropX Technologies Ltd, Agribotix LLC, AgEagle Aerial Systems Inc, Granular Inc, Hexagon Agriculture, Iteris Inc., AgSmarts Inc, Intelligent Agricultural Solutions LLC, Grownetics Inc, Cargill Incorporated, Precision Planting LLC, Farmers Edge Inc., The Climate Corporation, Taranis-Visual Ltd., Descartes Labs, Mavrx Inc., TerrAvion Inc., Gamaya Inc., Aerobotics, Teralytic, Arable Labs, Fieldin Inc., Agworld Pty Ltd., CropIn Technology Solutions Pvt. Ltd., AgriTask, Conservis Corporation, Farmobile LLC

Which Regions Offer the Highest Growth Potential in the Precision Farming Market?
North America was the largest region in the precision farming market in 2024. The regions covered in the precision farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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