[174+ Pages Research Report] Global Precision Farming Market to surpass USD 18.8 billion by 2030 from USD 7.3 billion in 2020 at a CAGR of 11.65 % in the coming years, i.e., 2021-30.

Product Overview

Precision farming is mainly defined as an IT-based agriculture management system which aims to assess, manage and analyze variants in the agricultural sectors to achieve optimal profitability, sustainability and conservation of land resources. Precision agricultural technology focuses on the improved efficiency that can be achieved through the implementation and understanding of various technologies and the management of natural variability in agriculture.

Market Highlights

Global Precision Farming Market is expected to project a notable CAGR of 11.65% in 2030.

The main driving forces behind the growth of precise agriculture include increased agricultural mechanisms in developing countries, rising labour costs as a result of a lack of skilled labour, increased pressure for food supplies in the world as a result of increasing population, significant savings on smart farming techniques and government initiatives to adopt advanced agricultural technology. The increasing need for an optimal crop production with scarce funds gives it tremendous popularity among farmers.

Global Precision Farming Market: Segments

Guidance segment to grow with the highest CAGR during 2020-30

Global Precision Farming market is segmented by Technology into Guidance, VRT, Remote Sensing. Due to the early introduction of this technology, guidance was given the biggest portion on the market. GPS-based management technology enables manufacturers to lessen overlapping equipment and tractor passes, reducing energy, work, time and soil compaction. A GPS/GNSS, DGPS receiver, antenna, control, guide & steering, handheld devices and display, together with the associated wire harness are the major components required for a guidance technology or system. Other additional items are a logger, a sound device or a display. GPS/GNSS-based guidance technology and GIS-based guidance technology has been classified into this.

Hardware segment to grow with the highest CAGR during 2020-30

Global Precision Farming is divided by offering into Hardware-Sensors, GPS, Yield Monitors, Software and Services. Due to the high use of automation and control instruments—drones/UAVs, GPS/GNSS, drainage controllers, guidance and traction control, yield monitoring and sensor control, the hardware was the fastest growing share in 2020. The increasing use of new technologies and advanced equipment for precision agriculture is anticipated to lead to the development in the hardware precision agriculture market. The precise agricultural market for services is anticipated to boost at the highest CAGR during the forecast period,. Increasing demand for managed services contributes positively to the success of the market in precision agricultural services.

Market Dynamics

Drivers

Penetration of technologies such as VRT and guidance.

Increases in productivity and decline of overhead labour have been caused by the use of technology such as VRT, remote sensing, GPS, GIS and guidance technology in precision farms. The use of state-of-the-art agricultural equipment based on devices has helped the best utilization of resources. Precision agricultural equipment based on state-of-the-art technology not only contributes to the basic savings by lowering the labour cost, but also significantly enhances farm operations.

Increase in overall productivity

The exhaustion of natural resources and environmental deterioration are some of the factors that limit cultivation. Growing environmental concerns encourage farmers to focus on sustainable farming practices, like natural resource conservation. This has led to the need to improve the nutrition and protection of crops and to enhance the precision farming market. Multiple growth opportunities have been developed through technological innovations such as vertical farms with intelligent designs to maximize yields and cut waste.

Restraint

Lack of technological know-how

Precision agriculture is a smart farming technique requiring technical knowledge. Limited knowledge about and use of advanced technologies creates an imbalance between comprehension and implementation of the concepts in the field of precise agriculture. While several governments and market players around the world take initiatives to provide training and advising farmers on the use of precision agriculture, many farmers are not involved. Similarly, limited technical know-how is hindering the growth of the precision farming industry by farmers in developing countries like China, India and Brazil.

Global Precision Farming Market: Key Players

Deere & Company (US)

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Taranis (Israel)

AgEagle (US)

Teejet Technologies (US)

The Climate Corporation (US)

Trimble (US)

AGCO Corporation (US)

AgJunction (US)

Raven Industries (US)

AG Leader (US

Topcon Positioning Systems (US)

Descartes Labs (US)

ec2ce (Spain)

Prospera Technologies (Israel)

Autonomous Tractor Corporation (US)

Other Prominent Players

Global Precision Farming: Regions

Global Precision Farming market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Global Precision Farming in North America held the largest market share of XX.X% in the year 2020. In 2020, America accounted for the greatest share of the agricultural precision market. Countries like the United States and Canada in America are the first to implement precision agriculture technologies, which is a key reason for this region's significant proportion of the precision agricultural market. Agricultural systems and equipment in the region, like steering systems, guided systems, sensors, display devices and farm management software, are widely adopted by farmers. Increasing use in various agricultural applications of technological advancements, reducing labour levels, consolidating farms, increasing population, and the increasing demand for high productivity from current farming areas are some other factor driving growth in the American precision farming market.

Global Precision Farming Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Precision Farming Market report also contains analysis on:

Precision Farming Market Segments:

By Technology Type

Guidance

VRT

Remote Sensing

By offerings

Hardware-Sensors

GPS

Yield Monitors

Software

Services

Precision Farming Market Dynamics

Precision Farming Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Precision Farming Market Report Scope and Segmentation

Frequently Asked Questions

How big is the Precision Farming market

What is the Precision Farming market growth

Which segment accounted for the largest Precision Farming market share

Who are the key players in the Precision Farming market

What are the factors driving the Precision Farming market

Contents

1. Executive Summary

2. Global Precision Farming Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Global Precision Farming Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Global Precision Farming Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Precision Farming Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F.

2. By Technology: Market Share (2020-2030F)

1. Hardware-Sensors, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. GPS, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Yield Monitors, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Software, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Services, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Offering: Market Share (2020-2030F)

1. Guidance, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. VRT, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Remote Sensing, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Deere & Company (US)

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Taranis (Israel)

3. AgEagle (US)

4. Teejet Technologies (US)

5. The Climate Corporation (US)

6. Trimble (US)

7. AGCO Corporation (US)

8. AgJunction (US)

9. Raven Industries (US)

10. AG Leader (US

11. Topcon Positioning Systems (US)

12. Descartes Labs (US)

13. ec2ce (Spain)

14. Prospera Technologies (Israel)

15. Autonomous Tractor Corporation (US)

16. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)