Precision Agriculture Market Expansion: Analysing Key Players' Investments and Growth

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The global precision agriculture market size reached USD 6.98 Billion in 2021 and is expected to register a revenue CAGR of 12.9% during the forecast period, according to latest analysis by Emergen Research. Increasing use of advanced agricultural techniques and smartphones are major factors expected to drive market revenue growth between 2022 and 2030. Additionally, growing usage of variable rate, remote sensing, and guiding technology in precision agriculture will drive market revenue growth. Precision agriculture technologies including Variable Rate Technology (VRT), remote sensing, Global Positioning System (GPS), Geographical Information System (GIS), and guiding technology have enhanced output while lowering laborexpenses. Moreover, development of cutting-edge technology-based farming machinery has facilitated most efficient use of resources. Precision farming technology based on modern technology not only contributes to bottom-line savings by cutting labor costs but also significantly improves agricultural operations. Weeding, fertilizerapplication, and site management are tasks performed before harvesting that account for 50–70% of farm operating costs. Drones equipped with cameras are used in precision agriculture for spraying, weeding, pruning, and harvesting. These drones generate hyperspectral pictures, allowing farmers to monitor field activity.
The Global Precision Agriculture Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market.
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Competitive Terrain:
The global Precision Agriculture industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems.
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Additional information offered by the report:

• Along with a complete overview of the global Precision Agriculture market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
  
• The report elaborates on the global Precision Agriculture market size and share governed by the major geographies.
  
• It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
  
• It further presents a detailed description of the company profiles of the key market contenders.
  

Segments Covered in this report are:

• Component Outlook (Revenue, USD Billion; 2017-2027)
  
  • Hardware
    
    
    1. Automation & Control Systems
       
       
       1. Displays
          
       2. Guidance & Steering
          
       3. GPS & GNSS
          
       4. Drones, UAV & Cameras
          
       5. Others
          
    2. Sensing and Monitoring Device
       
       
       1. Yield Monitors
          
       2. Soil Sensors
          
       3. Water Sensors
          
       4. Climate Sensors
          

• Technology Outlook (Revenue, USD Billion; 2017-2027)
  
  • Guidance Technology
    
  • Remote Sensing
    
  • Variable-Rate Technology
    

• Application Outlook (Revenue, USD Billion; 2017-2027)
  
  • Yield Monitoring
    
  • Field Mapping
    
  • Crop Scouting
    
  • Weather Tracking & Forecasting
    
  • Irrigation Management
    
  • Inventory Management
    
  • Farm Labor Management
    
  • Financial Management
    
  • Others
    

Radical Highlights of the Precision Agriculture Market Report:

• Comprehensive overview of the Precision Agriculture market along with analysis of the changing dynamics of the market
  
• Growth Assessment of various market segments throughout the forecast period
  
• Regional and global analysis of the market players, including their market share and global position
  
• Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
  
• Impact of the technological developments and R&D advancements on the Precision Agriculture market
  
• Information about profit-making strategies and developmental strategies of major companies and manufacturers
  
• Insightful information for the new entrants willing to enter the market
  
• Details and insights about business expansion strategies, product launches, and other collaborations
  
• The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
  

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