Global Markets for Precision Farming

Report Highlights

The global market for precision farming is expected to increase from $8.5 billion in 2023 to $14.9 billion by the end of 2028, with a compound annual growth rate (CAGR) of 11.9% during the forecast period of 2023-2028.

Report Includes

• 64 data tables and 44 additional tables
• An overview of the global market for precision farming technology
• Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
• Estimates of the market size, a revenue growth forecast for the precision farming market, and a corresponding analysis of market share by component (hardware/software), application and region
• In-depth information (facts and figures) pertaining to the major factors influencing the market, including drivers, restraints, opportunities and challenges
• Analysis of the market growth opportunities through a holistic review of both Porter’s Five Forces and PESTLE models, taking into consideration the prevailing micro- and macroenvironmental factors
• Coverage of the technological, economic and business considerations within the global market, with market growth forecasts to 2028
• A discussion of the impact of ESG factors on company performance, ratings and matrices; consumer attitudes; and ESG practices followed
• A look at the major vendors and an analysis of the industry structure with respect to company shares, M&A activity and venture funding
• Company profiles of major players within the industry, including Deere & Co., Trimble Inc., AGCO Corp., CNH Industrial N.V., and Raven Industries Inc.

Report Scope

This report incorporates an in-depth analysis of the precision farming market, including market estimations and trends through 2028. The report is focused on estimating the market for precision farming, which covers components, hardware, software, and applications. Major players, competitive intelligence, systems and technologies, market dynamics, and regional opportunities are discussed in detail. The report examines recent developments and product portfolios of major players. The report presents a market analysis and estimates the precision farming market’s compound annual growth rate (CAGR).

This report segments the global market by these geographic regions: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. For market value, data is provided for 2022 as the base year, estimates for 2023, and a forecast through year-end 2028.

The report also discusses the major players across each regional precision farming market. Further, it explains the major drivers and regional dynamics of the global precision farming market and current trends within the industry. The report concludes with a particular focus on the vendor landscape and includes detailed profiles of the major vendors in the market.

Analyst Credentials

Kunal R. Nagpure– Consultant-Food & Beverage Research
Kunal Nagpure is an accomplished market researcher with over eight years of experience in the F&B, Environment, and Agriculture markets. He is passionate about using his knowledge to help clients make data-driven decisions and achieve their business objectives. With a keen eye for detail and a strong analytical mindset, Kunal has delivered numerous successful research projects that have enabled clients to gain a competitive edge in their respective markets. Academically, Kunal holds a master’s degree in Marketing and Operations and a bachelor’s degree in Biotech Engineering.