Precision Farming Market size was valued at US$ 7.58 Billion in 2021 and the total precision farming revenue is expected to grow at 12.9% through 2022 to 2029, reaching nearly US$ 20.02 Billion.
Precision Farming Market Overview:
An extensive amount of primary and secondary research was done for the global market study of Precision Farming . In order to complement already-available data, segment the market, calculate the overall market size, and forecast market size and growth rate, secondary research was conducted. Primary and secondary research are used to identify industry leaders and estimate market value. In-depth interviews with important business and thought leaders, including CEOs and marketing executives, were conducted as part of the primary study.
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In-depth interviews with CEOs and marketing executives were conducted as part of the primary study, which involved key opinion leaders and business leaders. As part of the secondary study, the annual and financial reports of the major manufacturers were examined. Market breakdowns, market shares, and growth rates are derived from secondary sources and cross-checked against primary data.
Market Scope:
The report aids readers in developing a better knowledge of the dynamic structure of the worldwide Precision Farming market by identifying and assessing market categories and estimating market size. The report examines the key corporations' regional presence, application growth objectives, price, and financial standing. To assist shareholders in prioritising their efforts and investments in the international Precision Farming market, the research also contains a PESTLE analysis.
Decision-makers now have a better understanding of the future of the market thanks to the analysis of internal and external factors that are expected to benefit or harm enterprises. Through the research of market segmentation and projections of market size, the report also assists in understanding the dynamic structure of the global Precision Farming market. The research is a resource for investors since it gives a thorough picture of the competitive analysis of significant firms in the worldwide Precision Farming market based on price, financial status, growth strategies, and geographic presence.
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Drivers:
The need for more effective crop health monitoring and rising government support for the adoption of new agricultural practises are both expected to drive market expansion. By 2029, a large market share for cloud-based software is anticipated because it saves money, reduces energy use, and offers enormous amounts of data storage. Farmers can now work more productively and profitably thanks to advancements in GPS mapping and related farming applications. In agriculture, where they are frequently used to monitor irrigation systems, drones are growing in popularity. Because it identifies soil characteristics that might be used to boost yields, yield monitoring is frequently used in soil monitoring.
Segmentation:
By Offering: The precision farming market is further sub-segmented into hardware, software, and services. In the year 2029, the market for precision agricultural gear is predicted to be the largest. The precision farming market has been divided into three segments based on their offerings: hardware, software, and services. Due to the widespread deployment of automation and control devices–drones/UAVs, GPS/GNSS, irrigation controllers, guidance and steering systems, yield monitors, and sensors–hardware held the biggest market share in 2021.
Key Players: The key players are
• Deere & Company
• AGCO Corporation
• Trimble
• Raven Industries
• Topcon Positioning
• AgJunction
• Observant
• Granular Inc
• Agrivi Ltd.
• Monsanto Company
• Dickey-John Corporation
• Ag Leader Technology
• CNH Industrial NV
• SST Development Group.
• Trimble Navigation Limited
• Tetra Laval Holdings B.V.
Regional Analysis:
The Precision Farming Market is examined at the national level with a focus on nations, categories, and categories with the most potential for considerable growth. The regions that make up the Precision Farming Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations.
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COVID-19 Impact Analysis on Precision Farming Market: The report covers COVID-19 impact on Precision Farming market.
Key Questions Answered in the Precision Farming Market Report are:
- What will the CAGR of the Precision Farming market be throughout the forecast period?
- Which market segment has dominated the Precision Farming market?
- What businesses control the Precision Farming market?
- What will the Precision Farming market's size be in 2029?
- Which company held the largest market share in Precision Farming ?
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