This Precision Farming report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The precision farming market size has grown rapidly in recent years. It will grow from $8.86 billion in 2024 to $10.24 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to increasing population, environmental concerns, government support, farm consolidation.
The precision farming market size is expected to see rapid growth in the next few years. It will grow to $17.79 billion in 2029 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to climate change adaptation, focus on sustainability. Major trends in the forecast period include big data and analytics, digital farming platforms, drone technology, robotics and automation, smart sensors and IoT devices, precision livestock farming, collaboration and partnerships.
The rising demand for food is expected to drive the growth of the precision farming market in the future. Food refers to substances containing essential nutrients such as protein, carbohydrates, fats, and others that are used by organisms to support growth. Precision farming is an advanced agricultural method that uses technology to observe, measure, and analyze the specific needs of individual fields and crops, resulting in significantly higher yields. For example, in November 2023, the USDA Foreign Agricultural Service, a US-based government agency, reported that global wheat production for 2023-2024 was 790.54 million metric tons, surpassing the 2022-2023 figure of 789.49 million tons. Therefore, the increasing demand for food and its production will boost the growth of the precision farming market.
The precision farming market is anticipated to experience a boost from the increasing prevalence of IoT-linked devices. These devices, such as sensors and drones, connect wirelessly to networks and gather real-time data on various farming variables, allowing farmers to make informed decisions promptly. The number of broadband IoT connections, reaching 1. 3 billion in 2022, is expected to grow further, with nearly 60% of cellular IoT connections predicted to be broadband IoT connections by the end of 2028, according to a report by Ericsson, a Sweden-based telecommunication company. The widespread adoption of IoT-linked devices is a key driver for the growth of the precision farming market.
A significant trend in the precision farming market is technological advancements, particularly in precision technology innovation for sustainable agriculture. Major companies in the precision farming market are actively developing advanced technologies to enhance various aspects of agriculture, including profitability, increased production, economic efficiency, and reduced environmental impact. For instance, JCB, a UK-based equipment manufacturer, launched the Fastrac iCON tractor with integrated precision technology designed for precision farming applications. This tractor features unique capabilities such as Universal Terminal, AUX-N capabilities, and simple task control, integrating GPS and NOVATEL Smart-7 receiver for high performance.
Innovative products, such as advanced blockage and flow monitoring systems, are being developed by major companies in the precision farming market to expand their customer base and increase revenue. Precision Planting, a US-based agricultural service company, introduced Clarity, an advanced system designed to enhance the real-time performance of agricultural equipment. This system provides a detailed display of critical information, allowing farmers to monitor the flow and distribution of products in real time, ensuring consistent peak performance.
In May 2022, IDEX Corporation, a US-based manufacturer, acquired KZValve, a US-based precision farming components manufacturer, to strengthen its capability to deliver essential solutions for industrial and agricultural applications.
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.
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. The countries covered in the precision farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Precision farming is a farm management model that revolves around observing, quantifying, and responding to various intra- and inter-field variable inputs in contemporary agriculture. The goal is to increase food production while optimizing resource use and reducing labor costs.
The main offerings in precision farming include hardware, software, and services. Hardware encompasses physical components or delivery systems that store and execute the instructions provided by software. In digital farming, hardware tools are employed to enhance resource utilization and showcase products in various forms. Examples of hardware tools extensively used in precision farming include automation and control systems, drones, application control devices, guidance systems, GPS (Global Positioning System), GIS (Geographic Information System), remote sensors, satellite sensors, driverless tractors, and mobile devices. Different technologies, such as guidance technology, remote sensing technology, and variable rate application, are applied in various precision farming activities, including yield monitoring, field mapping, crop scouting, weather tracking and forecasting, irrigation management, inventory management, farm labor management, and others.
The precision farming market research report is one of a series of new reports that provides precision farming market statistics, including precision farming industry global market size, regional shares, competitors with a precision farming market share, detailed precision farming market segments, market trends and opportunities, and any further data you may need to thrive in the precision farming industry. This precision farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The precision farming market consists of revenues earned by entities by providing precision farming services such as hyperspectral imaging, detection and diagnostics of disease, controlling weeds and pests, preventing soil degradation, efficient use of land, soil sampling, and soil mapping. The market value includes the value of related goods sold by the service provider or included within the service offering.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The precision farming market size has grown rapidly in recent years. It will grow from $8.86 billion in 2024 to $10.24 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to increasing population, environmental concerns, government support, farm consolidation.
The precision farming market size is expected to see rapid growth in the next few years. It will grow to $17.79 billion in 2029 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to climate change adaptation, focus on sustainability. Major trends in the forecast period include big data and analytics, digital farming platforms, drone technology, robotics and automation, smart sensors and IoT devices, precision livestock farming, collaboration and partnerships.
The rising demand for food is expected to drive the growth of the precision farming market in the future. Food refers to substances containing essential nutrients such as protein, carbohydrates, fats, and others that are used by organisms to support growth. Precision farming is an advanced agricultural method that uses technology to observe, measure, and analyze the specific needs of individual fields and crops, resulting in significantly higher yields. For example, in November 2023, the USDA Foreign Agricultural Service, a US-based government agency, reported that global wheat production for 2023-2024 was 790.54 million metric tons, surpassing the 2022-2023 figure of 789.49 million tons. Therefore, the increasing demand for food and its production will boost the growth of the precision farming market.
The precision farming market is anticipated to experience a boost from the increasing prevalence of IoT-linked devices. These devices, such as sensors and drones, connect wirelessly to networks and gather real-time data on various farming variables, allowing farmers to make informed decisions promptly. The number of broadband IoT connections, reaching 1. 3 billion in 2022, is expected to grow further, with nearly 60% of cellular IoT connections predicted to be broadband IoT connections by the end of 2028, according to a report by Ericsson, a Sweden-based telecommunication company. The widespread adoption of IoT-linked devices is a key driver for the growth of the precision farming market.
A significant trend in the precision farming market is technological advancements, particularly in precision technology innovation for sustainable agriculture. Major companies in the precision farming market are actively developing advanced technologies to enhance various aspects of agriculture, including profitability, increased production, economic efficiency, and reduced environmental impact. For instance, JCB, a UK-based equipment manufacturer, launched the Fastrac iCON tractor with integrated precision technology designed for precision farming applications. This tractor features unique capabilities such as Universal Terminal, AUX-N capabilities, and simple task control, integrating GPS and NOVATEL Smart-7 receiver for high performance.
Innovative products, such as advanced blockage and flow monitoring systems, are being developed by major companies in the precision farming market to expand their customer base and increase revenue. Precision Planting, a US-based agricultural service company, introduced Clarity, an advanced system designed to enhance the real-time performance of agricultural equipment. This system provides a detailed display of critical information, allowing farmers to monitor the flow and distribution of products in real time, ensuring consistent peak performance.
In May 2022, IDEX Corporation, a US-based manufacturer, acquired KZValve, a US-based precision farming components manufacturer, to strengthen its capability to deliver essential solutions for industrial and agricultural applications.
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.
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. The countries covered in the precision farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Precision farming is a farm management model that revolves around observing, quantifying, and responding to various intra- and inter-field variable inputs in contemporary agriculture. The goal is to increase food production while optimizing resource use and reducing labor costs.
The main offerings in precision farming include hardware, software, and services. Hardware encompasses physical components or delivery systems that store and execute the instructions provided by software. In digital farming, hardware tools are employed to enhance resource utilization and showcase products in various forms. Examples of hardware tools extensively used in precision farming include automation and control systems, drones, application control devices, guidance systems, GPS (Global Positioning System), GIS (Geographic Information System), remote sensors, satellite sensors, driverless tractors, and mobile devices. Different technologies, such as guidance technology, remote sensing technology, and variable rate application, are applied in various precision farming activities, including yield monitoring, field mapping, crop scouting, weather tracking and forecasting, irrigation management, inventory management, farm labor management, and others.
The precision farming market research report is one of a series of new reports that provides precision farming market statistics, including precision farming industry global market size, regional shares, competitors with a precision farming market share, detailed precision farming market segments, market trends and opportunities, and any further data you may need to thrive in the precision farming industry. This precision farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The precision farming market consists of revenues earned by entities by providing precision farming services such as hyperspectral imaging, detection and diagnostics of disease, controlling weeds and pests, preventing soil degradation, efficient use of land, soil sampling, and soil mapping. The market value includes the value of related goods sold by the service provider or included within the service offering.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Precision Farming Market Characteristics3. Precision Farming Market Trends and Strategies4. Precision Farming Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Precision Farming Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Precision Farming Market34. Recent Developments in the Precision Farming Market
5. Global Precision Farming Growth Analysis and Strategic Analysis Framework
6. Precision Farming Market Segmentation
7. Precision Farming Market Regional and Country Analysis
8. Asia-Pacific Precision Farming Market
9. China Precision Farming Market
10. India Precision Farming Market
11. Japan Precision Farming Market
12. Australia Precision Farming Market
13. Indonesia Precision Farming Market
14. South Korea Precision Farming Market
15. Western Europe Precision Farming Market
16. UK Precision Farming Market
17. Germany Precision Farming Market
18. France Precision Farming Market
19. Italy Precision Farming Market
20. Spain Precision Farming Market
21. Eastern Europe Precision Farming Market
22. Russia Precision Farming Market
23. North America Precision Farming Market
24. USA Precision Farming Market
25. Canada Precision Farming Market
26. South America Precision Farming Market
27. Brazil Precision Farming Market
28. Middle East Precision Farming Market
29. Africa Precision Farming Market
30. Precision Farming Market Competitive Landscape and Company Profiles
31. Precision Farming Market Other Major and Innovative Companies
35. Precision Farming Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Precision Farming Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on precision farming market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for precision farming? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The precision farming market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Offering: Hardware; Software; Services2) 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) Equipment2) 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
Key Companies Mentioned: Deere and Company; Trimble Inc; AGCO Corporation; AgJunction Inc; Raven Industries Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Precision Farming market report 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 10.24 Billion |
| Forecasted Market Value ( USD | $ 17.79 Billion |
| Compound Annual Growth Rate | 14.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 38 |
