Product Code: PM1018
The precision farming market size is expected to reach USD 49.29 billion by 2034, according to a new study by Polaris Market Research. The report "Precision Farming Market Size, Share, Trends, Industry Analysis Report: By Offering, Technology (Guidance Technology, Remote Sensing Technology, and Variable Rate Application), Application, and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The precision farming market focuses on advanced agricultural practices using technology like GPS, IoT, sensors, and AI to optimize crop yield, reduce resource usage, and improve efficiency in farming operations.
The increasing adoption of smart technologies in the global agriculture sector is expected to drive precision farming market growth. Government initiatives aimed at improving farmers' efficiency through new technologies are expected to create lucrative growth opportunities for the market in the long term. Additionally, the establishment of intellectual property rights on agricultural innovations is anticipated to drive demand for precision farming further. Moreover, the rising demand for food due to the growing population is expected to contribute to the upward growth trajectory of the precision farming software market.
Several key factors primarily drive the precision farming market growth. These include the widespread adoption of advanced technologies that reduce labor costs, increased usage of Internet of Things (IoT) devices in agriculture, substantial cost savings associated with precision farming, the impact of climate change, and the rising demand for food production. Furthermore, governments worldwide are promoting precision farming techniques, contributing to their increased adoption.
Precision Farming Market Report Highlights
The hardware segment accounted for the largest share in 2024 due to the growing demand for advanced farming equipment such as GPS devices, sensors, drones, and automated machinery.
The variable rate technology segment is expected to experience significant growth in the precision farming market due to a growing focus on efficiency and sustainability in farming.
Asia Pacific is experiencing significant growth in the global market due to increasing food demand and the need for sustainable farming methods.
In 2024, North America had the largest precision farming market revenue share due to its advanced agricultural industry, robust technological infrastructure, and government support.
The global key market players are Deere & Company, Trimble Inc., Agco Corporation, Raven Industries Inc., Agjunction Inc., Topcon Positioning Systems Inc., Precision Planting LLC, SST Development Group Inc., The Climate Corporation, AG Leader Technology Inc., and BASF SE.
Polaris market research has segmented the precision farming market report based on offering, technology, application, and region:
By Offering (Revenue - USD Billion, 2020-2034)
§ Hardware
§ Automation & Control System
§ Sensing Devices
§ Access Points
§ Software
§ Web-based/Local
§ Cloud Based
§ Services
§ System Integration
§ Managed Services
§ Maintenance & Support
§ Consulting
By Technology (Revenue - USD Billion, 2020-2034)
§ Guidance Technology
§ Remote Sensing Technology
§ Variable Rate Technology
By Application (Revenue - USD Billion, 2020-2034)
§ Yield Monitoring
§ Crop Scouting
§ Field Mapping
§ Variable Rate Application
§ Weather Tracking and Forecasting
§ Inventory Management
§ Farm Labor Management
§ Financial Management
§ Others
By Regional Outlook (Revenue - USD Billion, 2020-2034)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Precision Farming Market Insights
- 4.1. Precision Farming Market - Market Snapshot
- 4.2. Precision Farming Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increase in Demand for Food
- 4.2.1.2. Worldwide Labor Shortage
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Initial Cost of Manufacturing
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Precision Farming Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Precision Farming Market, by Offerings
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 5.3. Hardware
- 5.3.1. Global Precision Farming Market, by Hardware, by Region, 2020-2034 (USD billion)
- 5.4. Automation & Control System
- 5.4.1. Global Precision Farming Market, by Automation & Control System, by Region, 2020-2034 (USD billion)
- 5.5. Sensing Devices
- 5.5.1. Global Precision Farming Market, by Sensing Devices, by Region, 2020-2034 (USD billion)
- 5.6. Access Points
- 5.6.1. Global Precision Farming Market, by Access Points, by Region, 2020-2034 (USD billion)
- 5.7. Software
- 5.7.1. Global Precision Farming Market, by Software, by Region, 2020-2034 (USD billion)
- 5.8. Web-based/Local
- 5.8.1. Global Precision Farming Market, by Web-based/Local, by Region, 2020-2034 (USD billion)
- 5.9. Cloud Based
- 5.9.1. Global Precision Farming Market, by Cloud Based, by Region, 2020-2034 (USD billion)
- 5.10. Services
- 5.10.1. Global Precision Farming Market, by Services, by Region, 2020-2034 (USD billion)
- 5.11. System Integration
- 5.11.1. Global Precision Farming Market, by System Integration, by Region, 2020-2034 (USD billion)
- 5.12. Managed Services
- 5.12.1. Global Precision Farming Market, by Managed Services, by Region, 2020-2034 (USD billion)
- 5.13. Maintenance & Support
- 5.13.1. Global Precision Farming Market, by Maintenance & Support, by Region, 2020-2034 (USD billion)
- 5.14. Consulting
- 5.14.1. Global Precision Farming Market, by Consulting, by Region, 2020-2034 (USD billion)
6. Global Precision Farming Market, by Technology
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 6.3. Guidance Technology
- 6.3.1. Global Precision Farming Market, by Guidance Technology, by Region, 2020-2034 (USD billion)
- 6.4. Remote Sensing Technology
- 6.4.1. Global Precision Farming Market, by Remote Sensing Technology, by Region, 2020-2034 (USD billion)
- 6.5. Variable Rate Technology
- 6.5.1. Global Precision Farming Market, by Variable Rate Technology, by Region, 2020-2034 (USD billion)
7. Global Precision Farming Market, by Application
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Precision Farming Market, by Application, 2020-2034 (USD billion)
- 7.3. Yield Monitoring
- 7.3.1. Global Precision Farming Market, by Yield Monitoring, by Region, 2020-2034 (USD billion)
- 7.4. Crop Scouting
- 7.4.1. Global Precision Farming Market, by Crop Scouting, by Region, 2020-2034 (USD billion)
- 7.5. Field Mapping
- 7.5.1. Global Precision Farming Market, by Field Mapping, by Region, 2020-2034 (USD billion)
- 7.6. Variable Rate Application
- 7.6.1. Global Precision Farming Market, by Variable Rate Application, by Region, 2020-2034 (USD billion)
- 7.7. Weather Tracking and Forecasting
- 7.7.1. Global Precision Farming Market, By Weather Tracking and Forecasting, by Region, 2020-2034 (USD billion)
- 7.8. Inventory Management
- 7.8.1. Global Precision Farming Market, by Inventory Management, by Region, 2020-2034 (USD billion)
- 7.9. Farm Labor Management
- 7.9.1. Global Precision Farming Market, by Farm Labor Management, by Region, 2020-2034 (USD billion)
- 7.10. Financial Management
- 7.10.1. Global Precision Farming Market, by Financial Management, by Region, 2020-2034 (USD billion)
- 7.11. Others
- 7.11.1. Global Precision Farming Market, by Others, by Region, 2020-2034 (USD billion)
8. Global Precision Farming Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Precision Farming Market Assessment, By Geography, 2020-2034 (USD billion)
- 8.3. Precision Farming Market - North America
- 8.3.1. North America: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.3.2. North America: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.3.3. North America: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.3.4. Precision Farming Market - U.S.
- 8.3.4.1. U.S.: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.3.4.2. U.S.: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.3.4.3. U.S.: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.3.5. Precision Farming Market - Canada
- 8.3.5.1. Canada: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.3.5.2. Canada: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.3.5.3. Canada: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4. Precision Farming Market - Europe
- 8.4.1. Europe: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.2. Europe: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.3. Europe: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.4. Precision Farming Market - UK
- 8.4.4.1. UK: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.4.2. UK: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.4.3. UK: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.5. Precision Farming Market - France
- 8.4.5.1. France: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.5.2. France: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.5.3. France: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.6. Precision Farming Market - Germany
- 8.4.6.1. Germany: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.6.2. Germany: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.6.3. Germany: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.7. Precision Farming Market - Italy
- 8.4.7.1. Italy: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.7.2. Italy: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.7.3. Italy: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.8. Precision Farming Market - Spain
- 8.4.8.1. Spain: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.8.2. Spain: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.8.3. Spain: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.9. Precision Farming Market - Netherlands
- 8.4.9.1. Netherlands: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.9.2. Netherlands: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.9.3. Netherlands: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.10. Precision Farming Market - Russia
- 8.4.10.1. Russia: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.10.2. Russia: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.10.3. Russia: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.4.11. Precision Farming Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.4.11.2. Rest of Europe: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.4.11.3. Rest of Europe: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5. Precision Farming Market - Asia Pacific
- 8.5.1. Asia Pacific: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.2. Asia Pacific: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.3. Asia Pacific: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.4. Precision Farming Market - China
- 8.5.4.1. China: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.4.2. China: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.4.3. China: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.5. Precision Farming Market - India
- 8.5.5.1. India: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.5.2. India: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.5.3. India: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.6. Precision Farming Market - Malaysia
- 8.5.6.1. Malaysia: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.6.2. Malaysia: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.6.3. Malaysia: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.7. Precision Farming Market - Japan
- 8.5.7.1. Japan: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.7.2. Japan: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.7.3. Japan: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.8. Precision Farming Market - Indonesia
- 8.5.8.1. Indonesia: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.8.2. Indonesia: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.8.3. Indonesia: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.9. Precision Farming Market - South Korea
- 8.5.9.1. South Korea: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.9.2. South Korea: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.9.3. South Korea: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.10. Precision Farming Market - Australia
- 8.5.10.1. Australia: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.10.2. Australia: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.10.3. Australia: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.5.11. Precision Farming Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.5.11.2. Rest of Asia Pacific: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.5.11.3. Rest of Asia Pacific: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6. Precision Farming Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.2. Middle East & Africa: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.3. Middle East & Africa: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6.4. Precision Farming Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.4.2. Saudi Arabia: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.4.3. Saudi Arabia: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6.5. Precision Farming Market - UAE
- 8.6.5.1. UAE: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.5.2. UAE: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.5.3. UAE: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6.6. Precision Farming Market - Israel
- 8.6.6.1. Israel: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.6.2. Israel: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.6.3. Israel: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6.7. Precision Farming Market - South Africa
- 8.6.7.1. South Africa: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.7.2. South Africa: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.7.3. South Africa: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.6.8. Precision Farming Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.6.8.2. Rest of Middle East & Africa: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.6.8.3. Rest of Middle East & Africa: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.7. Precision Farming Market - Latin America
- 8.7.1. Latin America: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.7.2. Latin America: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.7.3. Latin America: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.7.4. Precision Farming Market - Mexico
- 8.7.4.1. Mexico: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.7.4.2. Mexico: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.7.4.3. Mexico: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.7.5. Precision Farming Market - Brazil
- 8.7.5.1. Brazil: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.7.5.2. Brazil: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.7.5.3. Brazil: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.7.6. Precision Farming Market - Argentina
- 8.7.6.1. Argentina: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.7.6.2. Argentina: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.7.6.3. Argentina: Precision Farming Market, by Application, 2020-2034 (USD billion)
- 8.7.7. Precision Farming Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Precision Farming Market, by Offerings, 2020-2034 (USD billion)
- 8.7.7.2. Rest of Latin America: Precision Farming Market, by Technology, 2020-2034 (USD billion)
- 8.7.7.3. Rest of Latin America: Precision Farming Market, by Application, 2020-2034 (USD billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Deere & Company
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Trimble Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Agco Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Raven Industries Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Agjunction Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Topcon Positioning Systems Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Precision Planting LLC
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. SST Development Group Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. The Climate Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. AG Leader Technology Inc.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. BASF
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development