Precision Farming Software
Precision Farming Software Market Forecasts to 2030 - Global Analysis By Delivery Model (Cloud Based and Local/Web Based), Offering (Hardware, Services and Software), Service Provider, Technology, Application and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1517.42 MN |
|
Projected Year Value (2030) |
US $3659.31 MN |
|
CAGR (2023 - 2030) |
13.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Precision Farming Software Market is accounted for $1,517.42 million in 2023 and is expected to reach $ 3,659.31 million by 2030 growing at a CAGR of 13.4 % during the forecast period. One of the most cutting-edge agricultural practices to acquire popularity in the twenty-first century is precision farming, it is both scientifically and technologically sophisticated and the precise field location of the tractor is established using the GPS. It transmits the signal to a tractor computer equipped with a GIS and a map of the soil's nutrient needs. A variable-rate fertilizer applicator that is mounted to the tractor is instructed to apply the right amount of fertilizer at that precise location by the GIS in coordination with a decision support system.
Market Dynamics:
Driver:
Rising demand in food and resources
The supply of fresh water is one of the resources under demand as a result of the rising demand for food. Furthermore, in the future, it will be necessary to reduce the amount of water used, for instance by cultivating plants with lower water requirements or improving irrigation systems in order to enhance productivity. Therefore, these factors will raise the demand for precision farming.
Restraint:
Lack of expertise in technology
Many farmers are not ready to invest in new agricultural technologies because they lack the necessary knowledge. Additionally, it has been said that farmers' hesitation to invest in agritech is mostly due to their ignorance of how it works. Therefore, a limited rate of market growth is therefore expected.
Opportunity:
New innovative schemes by government
Governments all around the world are now placing a higher priority on the wellbeing of farmers. Additionally, it implements a range of initiatives to provide assistance for farmers in an effort to boost the agricultural sector and improve farmers' financial situations. As a result, the government has started new initiatives, programs, schemes, and plans to aid all farmers which would lead to a rise in the market for precision farming.
Threat:
Risks associated with security and privacy data
Farmers can be worried about the security and privacy of their data, particularly if it is stored in the cloud or shared with outside service providers. Sharing private information with software providers, such as crop yields, soil composition, and equipment details, may give farmers trouble. Additionally, this may result in an unwillingness to use precision farming software equipment, which might lower agricultural output. Moreover, inadequate security measures can expose agricultural data to hacks, putting confidential data and exclusive farming methods at risk. Furthermore, unauthorized access or data manipulation can impede business operations, damage yields, and diminish consumer confidence in technological solutions. Therefore, this hinders the market's expansion.
Covid-19 Impact
The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The temporary shutdown of several plants and factories has had a detrimental influence on the production, delivery schedules, and sales of goods on the international market. In terms of confirmed cases and reported deaths, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the countries that have been most severely impacted. Additionally, the chances for commercial alliances and collaborations are being impacted by the worldwide travel bans implemented by nations in Europe, Asia-Pacific, and North America.
The software segment is expected to be the largest during the forecast period
It is anticipated that the software segment is expected to hold the largest share since it provides an internet-based computing platform that enables users to request shared processing of resources and data. Additionally, the software is more widely used than other services as it offers a number of benefits, such as data sharing, enhanced performance, the availability of the system across a variety of devices from any location with internet access, and simplicity of use.
The yield monitoring segment is expected to have the highest CAGR during the forecast period
It is projected that the yield monitoring sector would experience the highest CAGR throughout the forecast period due to the fact that it is the most well-known brand of precision farming software and assists farmers in analyzing field variability and boosting yields. Furthermore, farmers can also use yield monitoring to learn more about the weather, the characteristics of the soil, and fertilizers, all of which can have an effect on overall grain output. Soil monitoring is the most typical application of yield monitoring. Therefore, through soil monitoring, it is possible to identify soil components that are crucial for generating outcomes of the highest standard.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. Farmers in the area are turning to precision farming software solutions as a result of the rising use of modern farming technologies and the demand for effective farming methods. Additionally, these software systems include tools that help farmers optimize their resources and increase crop productivity, such as crop monitoring, yield forecasts, soil analysis, and automated machinery control. Precision farming software companies have access to a sizable market in the Asia Pacific region due to the region's diverse agricultural landscape, which includes both large-scale commercial farms and smallholder enterprises.
Region with highest CAGR:
North America is expected to witness highest CAGR over the projection period. Precision farming software solutions are becoming more popular among North American farmers due to their use of modern agricultural techniques and a significant emphasis on technology adoption in agriculture. These software platforms give farmers options for improving production and saving expenditures, including real-time data analytics, remote sensing, variable rate technologies, and farm management applications. Furthermore, the growth of the industry in North America is fueled by government assistance in the form of grants, subsidies, and programs supporting precision agriculture and growing public awareness of sustainable agricultural methods.
Key players in the market
Some of the key players in the Precision Farming Software Market include Deere & Company, Agjunction, Inc., Iteris, Inc., AG Leader Technology, Dickey-John Corporation, The Climate Corporation, Auroras S.R.L, Trimble Inc, SST Development Group Inc., Raven Industries Inc., Conservis Corporation, Farmers Edge Inc., Topcon Positioning Systems, Inc., Granular, Inc., Grownetics, Inc., IBM, AGCO Corporation, Reed Business Information Ltd, Agrivi Ltd and i.Agri Limited.
Key Developments:
In January 2022, AGCO, Agriculture Company, a global manufacturer and distributor of agricultural machinery and precision agriculture technologies, has acquired Appareo Systems, LLC, a software engineering, hardware development, and electronic manufacturing leader.
In January 2022, John Deere introduced a fully autonomous tractor. The machine combined Deere's 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies, which will help the company expand its footprint in the precision agriculture field.
Delivery Models Covered:
• Cloud Based
• Local/Web Based
Offerings Covered:
• Hardware
• Services
• Software
Service Providers Covered:
• System Integrators
• Assisted Professional Services Providers
• Maintenance
• Managed Services Providers
• Software Upgradation
• Support Services Providers
• Connectivity Services Providers
Technologies Covered:
• Guidance Technology
• Variable-Rate Technology
• Remote Sensing
Applications Covered:
• Yield Monitoring
• Crop Scouting
• Inventory Management
• Financial Management
• Field Mapping
• Weather Tracking and Forecasting
• Farm Labor Management
• Irrigation Management
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Precision Farming Software Market, By Delivery Model
5.1 Introduction
5.2 Cloud Based
5.2.1 Platform as a service(PaaS)
5.2.2 Software as a service(SaaS)
5.3 Local/Web Based
6 Global Precision Farming Software Market, By Offering
6.1 Introduction
6.2 Hardware
6.3 Services
6.4 Software
7 Global Precision Farming Software Market, By Service Provider
7.1 Introduction
7.2 System Integrators
7.3 Assisted Professional Services Providers
7.4 Maintenance
7.5 Managed Services Providers
7.6 Software Upgradation
7.7 Support Services Providers
7.8 Connectivity Services Providers
8 Global Precision Farming Software Market, By Technology
8.1 Introduction
8.2 Guidance Technology
8.3 Variable-Rate Technology
8.4 Remote Sensing
9 Global Precision Farming Software Market, By Application
9.1 Introduction
9.2 Yield Monitoring
9.3 Crop Scouting
9.4 Inventory Management
9.5 Financial Management
9.6 Field Mapping
9.7 Weather Tracking and Forecasting
9.8 Farm Labor Management
9.9 Irrigation Management
9.10 Other Applications
10 Global Precision Farming Software Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Deere & Company
12.2 Agjunction, Inc.
12.3 Iteris, Inc.
12.4 AG Leader Technology
12.5 Dickey-John Corporation
12.6 The Climate Corporation
12.7 Auroras S.R.L
12.8 Trimble Inc
12.9 SST Development Group Inc.
12.10 Raven Industries Inc.
12.11 Conservis Corporation
12.12 Farmers Edge Inc.
12.13 Topcon Positioning Systems, Inc.
12.14 Granular, Inc.
12.15 Grownetics, Inc.
12.16 IBM
12.17 AGCO Corporation.
12.18 Reed Business Information Ltd
12.19 Agrivi Ltd
12.20 i.Agri Limited
List of Tables
1 Global Precision Farming Software Market Outlook, By Region (2021-2030) ($MN)
2 Global Precision Farming Software Market Outlook, By Delivery Model (2021-2030) ($MN)
3 Global Precision Farming Software Market Outlook, By Cloud Based (2021-2030) ($MN)
4 Global Precision Farming Software Market Outlook, By Platform as a service(PaaS) (2021-2030) ($MN)
5 Global Precision Farming Software Market Outlook, By Software as a service(SaaS) (2021-2030) ($MN)
6 Global Precision Farming Software Market Outlook, By Local/Web Based (2021-2030) ($MN)
7 Global Precision Farming Software Market Outlook, By Offering (2021-2030) ($MN)
8 Global Precision Farming Software Market Outlook, By Hardware (2021-2030) ($MN)
9 Global Precision Farming Software Market Outlook, By Services (2021-2030) ($MN)
10 Global Precision Farming Software Market Outlook, By Software (2021-2030) ($MN)
11 Global Precision Farming Software Market Outlook, By Service Provider (2021-2030) ($MN)
12 Global Precision Farming Software Market Outlook, By System Integrators (2021-2030) ($MN)
13 Global Precision Farming Software Market Outlook, By Assisted Professional Services Providers (2021-2030) ($MN)
14 Global Precision Farming Software Market Outlook, By Maintenance (2021-2030) ($MN)
15 Global Precision Farming Software Market Outlook, By Managed Services Providers (2021-2030) ($MN)
16 Global Precision Farming Software Market Outlook, By Software Upgradation (2021-2030) ($MN)
17 Global Precision Farming Software Market Outlook, By Support Services Providers (2021-2030) ($MN)
18 Global Precision Farming Software Market Outlook, By Connectivity Services Providers (2021-2030) ($MN)
19 Global Precision Farming Software Market Outlook, By Technology (2021-2030) ($MN)
20 Global Precision Farming Software Market Outlook, By Guidance Technology (2021-2030) ($MN)
21 Global Precision Farming Software Market Outlook, By Variable-Rate Technology (2021-2030) ($MN)
22 Global Precision Farming Software Market Outlook, By Remote Sensing (2021-2030) ($MN)
23 Global Precision Farming Software Market Outlook, By Application (2021-2030) ($MN)
24 Global Precision Farming Software Market Outlook, By Yield Monitoring (2021-2030) ($MN)
25 Global Precision Farming Software Market Outlook, By Crop Scouting (2021-2030) ($MN)
26 Global Precision Farming Software Market Outlook, By Inventory Management (2021-2030) ($MN)
27 Global Precision Farming Software Market Outlook, By Financial Management (2021-2030) ($MN)
28 Global Precision Farming Software Market Outlook, By Field Mapping (2021-2030) ($MN)
29 Global Precision Farming Software Market Outlook, By Weather Tracking and Forecasting (2021-2030) ($MN)
30 Global Precision Farming Software Market Outlook, By Farm Labor Management (2021-2030) ($MN)
31 Global Precision Farming Software Market Outlook, By Irrigation Management (2021-2030) ($MN)
32 Global Precision Farming Software Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
