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Precision Farming Software Market Expected to Grow at USD 34.01 billion by 2031 with Top Players | CropIn Technology Solutions Private Limited (India), Gamaya (Switzerland), FieldBee (Netherlands) and More
Precision Farming Software Market
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Precision Farming Software Market Trends:
The global farm labor shortage has become increasingly severe, with a reported 18% decrease agricultural employment over the past decade according to World Bank data. Over the last ten years, farmers have consistently grappled with insufficient labor for a range of farm tasks, prompting a higher uptake of precision farming technologies to enhance farm resource utilization.
North America is poised to lead the precision farming software market, standing out as a key region this sector. Farmers the region are highly educated and are progressively integrating advanced farming technologies into their practices, including mobile applications, cloud services, farm management software, imagery services, and data analytics. Moreover, North America commands a significant portion of the precision agriculture market, driven by the growing uptake of sophisticated agricultural equipment and solutions such as steering systems, sensors, and guidance systems.
Top Key Competitors of Precision Farming Software Market:
Deere & Company (US),
Trimble Inc. (US),
AGCO Corporation (US),
Raven Industries, Inc. (US),
AgEagle Aerial Systems Inc (US),
AgJunction LLC (US),
Ag Leader Technology (US),
TOPCON CORPORATION (Japan),
Climate LLC (US),
TeeJet Technologies (US),
Hexagon AB (Brazil) and Others
Precision Farming Software Market Segmentations:
By Delivery Model:
On-Premises
Cloud-Based
By Technology
Guidance System Technologies
Remote Sensing and Control System
Variable Rate Technology
By Application
Yield Monitoring
Irrigation Management
Farm Labor Management
Field Mapping
Crop Scouting
Financial Management
Weather Tracking and Forecasting
Inventory Management
Others
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Recent Developments:
Jan 2024, AgEagle Aerial Systems Inc. showcased its eBee VISION and eBee TAC drones alongside FEDS Drone-powered Solutions at UMEX 2024. These lightweight fixed-wing drones offer HD live video insights for professional ISR missions.
Sept 2023, Trimble Inc. and AGCO agreed to form a joint venture aimed at bolstering support for farmers the mixed fleet precision agriculture market.
March 2023, CNH Industrial N.V. announced plans to strategically integrate Augmenta's Sense & Act capabilities into Raven Industries, Inc.'s automated technologies for variable-rate crop spraying applications.
Jan 2023, John Deere introduced Operations Center PRO, tailored for ag service providers needing advanced fleet and logistics management beyond current offerings.
Jan 2024, AGCO Corporation launched FarmerCore, a global initiative focused on transforming the farmer and dealer experience to enhance profitability, productivity, and sustainability.
Key Highlights:
The North America precision farming market is expected to grow at a CAGR of 12.5% to 2031.
The Asia Pacific region is forecasted to grow at a CAGR of 16.5% to 2031.
In 2022, North America accounted for approximately 47% of the revenue share, while Europe captured over 28%.
The weather tracking and forecasting application segment is projected to grow at a CAGR of 19.8%.
Hardware dominated the market with a 61% share in 2023, while software is anticipated to grow at a CAGR of 19.8%.
Yield monitoring held a 49% market share in 2023.
Remote sensing and variable rate technology accounted for 53% of the market share in 2023.
Table of Contents:
Executive Summary
Market Introduction
Research Methodology
Market Dynamics
Precision Farming Software Market ANALYSIS by SEGMENT (COUNTRY LEVEL ANALYSIS)
NORTH AMERICA Precision Farming Software Market analysis
EUROPE Precision Farming Software Market analysis
ASIA PACIFIC Precision Farming Software Market analysis
Rest of the World Precision Farming Software Market analysis
Company Profiles
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