Press release
Global Precision Farming Market Worth USD 5.17 Billion in 2024 Projected to More Than Double by 2035
Precision farming solutions, including drones, IoT sensors, GPS-guided equipment, and data analytics platforms, enable efficient resource management, higher crop yields, and sustainable agricultural practices. Valued at USD 5.17 Billion in 2024, the market is projected to reach USD 12.05 Billion by 2035, growing at a CAGR of 8.00% during 2025-2035. The adoption of smart farming technologies and supportive government policies are key factors fueling market expansion globally.
Competitive Landscape:
Key players in the Precision Farming Market focus on technological innovation, partnerships, and global expansion:
• Trimble Inc. (US)
• Deere & Company (US)
• AG Leader Technology (US)
• Raven Industries Inc. (US)
• Topcon Corporation (JP)
• Hexagon AB (SE)
• AGCO Corporation (US)
• CNH Industrial (NL)
• DJI Innovations (CN)
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Key Market Drivers:
• Technological Advancements: IoT, GPS, drones, and AI technologies enhance farm productivity and efficiency.
• Government Initiatives: Policies supporting sustainable agriculture and smart farming adoption.
• Rising Food Demand: Increasing global population drives the need for higher crop yields.
• Resource Optimization: Precision farming reduces wastage of water, fertilizers, and pesticides.
• Sustainability Trends: Growing awareness of eco-friendly farming practices boosts technology adoption.
Key Market Opportunities
• Expansion of AI and machine learning-based crop monitoring solutions.
• Development of cost-effective precision agriculture devices for small and medium farms.
• Integration of data analytics and predictive modeling for enhanced yield forecasting.
• Growth in adoption of autonomous tractors, drones, and smart irrigation systems.
• Collaborations with agri-tech startups and government-supported pilot programs.
Market Trends & Dynamics
• Increasing use of drone technology for crop monitoring and precision spraying.
• Growth in GPS and sensor-based automated machinery for farms.
• Rising adoption of cloud-based farm management platforms.
• Expansion of precision irrigation systems to optimize water usage.
• Focus on predictive analytics and big data for better decision-making in agriculture.
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Market Segmentation:
By Technology:
• GPS & GNSS
• IoT & Sensor-based Solutions
• Drones & UAVs
• Farm Management Software
By Application:
• Crop Monitoring & Management
• Precision Irrigation
• Precision Fertilization & Spraying
• Livestock Monitoring
By End User:
• Large-Scale Farms
• Small & Medium Farms
• Agri-business Companies
• Government & Research Institutions
By Region:
• North America
• Europe
• Asia Pacific (APAC)
• South America
• Middle East & Africa (MEA)
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Geographical Insights
• North America: Leads the market due to high adoption of smart agriculture technologies and advanced infrastructure.
• Europe: Growth driven by sustainable farming policies, government subsidies, and precision agriculture adoption.
• Asia Pacific: Rapid expansion supported by rising population, increasing food demand, and smart farming initiatives in countries like India, China, and Japan.
• South America & MEA: Moderate growth due to emerging agricultural technology adoption and supportive government programs.
Future Outlook
The Precision Farming Market is poised for significant growth over the next decade. Technological innovations, increasing global food demand, and supportive policies are driving adoption of precision agriculture solutions. With a projected CAGR of 8.00% (2025-2035), precision farming technologies are expected to optimize resource usage, enhance crop yields, and support sustainable agricultural practices worldwide.
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About US
Market Research Future (MRFR) is a global market research company providing in-depth, accurate analysis of diverse markets worldwide. MRFR delivers insights on products, technologies, applications, end users, and key market players across global, regional, and country-level segments, empowering clients to make informed strategic decisions and capitalize on emerging opportunities.
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