1. Market Research
  2. > Electronics
  3. > Industrial Electronics
  4. > Navigation Systems Market Trends
Precision Farming Market by Technology, Application, Offering and Geography - Global Forecast to 2025

Precision Farming Market by Technology, Application, Offering and Geography - Global Forecast to 2025

  • March 2020
  • 175 pages
  • ID: 4612801
  • Format: PDF
  • MarketsandMarkets


Table of Contents

Search Inside

Precision farming market anticipated to grow at CAGR of 12.7% from 2020 to 2025. The precision farming market is expected to grow from USD 7.0 billion in 2020 to USD 12.8 billion by 2025, at a CAGR of 12.7%. Major drivers for the precision farming market include the high demand for agricultural products due to population growth, increased adoption of VRT, remote sensing and guidance technologies by worldwide farmers, substantial cost cutting achieved by the implementation of modern agricultural techniques, and strong government support for promoting the use of precision farming techniques. Major restraints for the precision farming market include the high upfront cost of modern agriculture equipment and the limited technical knowledge and skills of farmers or growers. Precision farming requires large initial investments, efficient farming tools, and skilled labor.

Market for variable-rate technology (VRT) estimated to grow at highest CAGR during forecast period
The wide adoption of VRT in precision farming is because of various benefits associated with it.VRT allows input application rates to be varied across fields for site-specific management of the field variability.

This technology helps in reducing the input usage, thereby decreasing environmental impacts such as greenhouse gas emission, soil erosion and degradation, and genetic erosion.The market for VRT is expected to grow at a higher CAGR than that for other technologies as this technology helps in applying the right amount of input at the right place on the field, which minimizes the input waste and increases land and crop productivity.

Other technologies such as remote sensing and variable rate technology are also expected to grow at a significant rate during the forecast period.Variable-rate technology (VRT) enables the variable application of inputs and allows farmers to control the amount of inputs they apply in a specific location.

VRT mounted on equipment allows the input application rates to be varied across fields for site-specific management of field variability.

Market for weather tracking and forecasting application to grow at higher CAGR during forecast period
Increasing demand for climate information services owing to their benefits that enable farmers to deal with climate change and variability to improve decision-making in agriculture is the major reason behind the high growth of the market for weather tracking and forecasting between 2020 and 2025.Moreover, the increasing demand for the cloud platform for climate services is a major factor propelling the growth of the precision farming market for this application.

A variable rate application is expected to witness an attractive rate of growth during the forecast period.Variable rate application involves the use of technologies such as weather-based controllers, rain sensors, temperature sensors, network elements, water meters, and sensor-based controllers.

The increasing demand for water conservation and food production, and reduction in the wastage of resources are the major driving factors for the growing adoption of precision tools for variable rate applications.

Precision farming market in APAC to grow at highest CAGR during forecast period
The increasing adoption of precision farming technologies such as guidance system, remote sensing, and variable-rate technology by farmers in APAC is expected to propel the growth of the precision farming market during the forecast period.The adoption rate of precision farming techniques is expected to grow at a high rate in APAC as this region comprises emerging countries such as India and China, as well as other Southeast Asian countries.

Rapidly increasing population, the availability of arable farms, and government support through subsidies are the factors driving the adoption of smart agriculture techniques in APAC.
The precision farming market in Europe is expected to witness an attractive growth rate during the forecast period.The precision farming market in Europe exhibits a high degree of professionalism and technological adoption similar to the US.

Europe also relies on a well-established ecosystem, as well as public and private investment capacities.

The breakup of primaries conducted during the study is depicted below:
• By Company Type: Tier 1 – 35 %, Tier 2 – 40%, and Tier 3 –25%
• By Designation: C-level Executives – 57%, Directors – 29%, and Others – 14%
• By Region: Americas– 40%, Europe – 30%, APAC – 20%, and RoW – 10%

Key players operating in the precision farming market are Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader (US), The Climate Corporation (US), Descartes Labs (US), ec2ce (Spain), Teejet Technologies (US), Topcon Positioning Systems (US), Taranis (Israel), AgEagle (US), Descartes Labs (US), Granular (US), Prospera Technologies (Israel), Autonomous Tractor Corporation (US), Hexagon Agriculture (Brazil), CropX Technologies (Israel), and Autocopter Corp (US).

Research Coverage
This report covers the precision farming market based on offering, technology, application, and region.The precision farming market based on offering has been segmented into hardware, software, and services.

Based on application, the precision farming market has been segmented into yield monitoring, field mapping, crop scouting, weather tracking and forecasting, variable rate application, inventory management, farm labor management, financial management, and others.Based on technology, the precision farming market has been classified into the guidance system, remote sensing, and variable-rate technology (VRT).

Based on region, the precision farming market has been segmented into the Americas, Europe, APAC, and RoW.

Key Benefits of Buying This Report
• This report includes the market statistics pertaining to offering, application, technology, and region, along with their respective market size.
• An in-depth analysis of the value chain has been done to provide in-depth insight into the precision farming market.
• Major drivers, restraints, challenges, and opportunities pertaining to the precision farming market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast for the market based on offering, application, technology, and region have been conducted to provide an overall view of the precision farming market.
• The report includes an in-depth analysis and ranking of key players.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.


Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on