Precision Farming Market by Technology (Guidance System, Remote Sensing, Variable Rate Technology), Offering (Hardware Automation & Control System, Sensor & Monitoring Device, Software, Services), Application, and Geography - Global Forecast to 2022

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Date: 10-Jan-2017
No. of pages: 214
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“The increasing focus on farm efficiency and productivity and adoption of new technologies in farming drive the growth of the precision farming market”

The precision farming market is expected to grow from USD 3.20 billion in 2015 and is expected to reach USD 7.87 billion by 2022, at a CAGR of 13.47% between 2016 and 2022. Precision farming involves technology-driven information analysis of data acquired from the field and application of input as per the data analysis for increasing crop productivity. Precision farming has revolutionized the method employed previously in agriculture. Precision farming is going to be the modern way of agriculture that people across the world would adopt. The major restraining factor for the precision farming market is the high initial investment and the lack of technical awareness among farmers.

“Yield monitoring application held the largest share of the precision farming market in 2015”

Yield monitoring is the most widely used application in precision farming as it plays a vital role in understanding field variability and helps farmers in maximizing their yields. Soil monitoring is the major application of yield monitoring. Soil monitoring is used to detect soil parameters that are needed for an efficient yield production.

“Precision farming market in Asia-Pacific expected to grow at the highest rate between 2016 and 2022”

Asia-Pacific (APAC) is one of the bright prospective markets in precision farming. APAC has large farmlands and a high population growth rate. APAC has a huge regional spread which comprises countries such as China, Japan, India, Australia, South Korea, and Rest of APAC.  Precision farming market in APAC is in its initial stages of adoption and expected to grow with a double digit rate between 2016 and 2022. In APAC, specifically India, Australia, China, and Japan, currently have the highest growth rate and highest share in the precision farming market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key experts.

The breakup of the profiles of primary participants is as follows:


  • By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 –25%

  • By Designation: C-Level Executives – 75% and Managers – 25%

  • bAmericas – 40%, Europe – 30%, APAC – 20%, and RoW – 10%


Companies that provide a range of customized solutions to customers are expected to emerge as the game changers.

The key players in the precision farming market profiled in the report are as follows:


  • Deere & Company (U.S.)

  • Trimble Inc. (U.S.)

  • AGCO Corporation (U.S.)

  • Ag Junction, Inc. (U.S.)

  • Raven Industries, Inc. (U.S.)

  • AG Leader Technology (U.S.)

  • Precision Planting Inc. (U.S.)

  • SST Development Group, Inc.  (U.S.)

  • Teejet Technologies (U.S.)

  • Topcon Positioning Systems, Inc. (U.S.)

  • DICKEY-john Corporation (U.S.)

  • CropMetrics LLC (U.S.)


Research Coverage

This report covers the precision farming market based on offering, technology, application, and geography. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations associated with the precision farming market.

Key Benefits of Buying the Report

The report would help the market leaders or new entrants in the following ways:


  • This report segments the overall market comprehensively and provides the closest approximations of the global precision farming market size and that of the subsegments across different applications and regions.

  • The report helps stakeholders to understand the pulse of the market and provides them information on key drivers, restraints, challenges, and opportunities in the precision farming market.

  • This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the precision farming market.

Precision Farming Market by Technology (Guidance System, Remote Sensing, Variable Rate Technology), Offering (Hardware Automation & Control System, Sensor & Monitoring Device, Software, Services), Application, and Geography - Global Forecast to 2022

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Year Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Precision Farming Market
4.2 Precision Farming Market, By Hardware Devices and Software & Services
4.3 Precision Farming Market, By Technology and Region
4.4 Regional Analysis of the Precision Farming Market
4.5 Life Cycle Analysis

5 Market Overview
5.1 Introduction
5.1.1 Evolution
5.2 Market Segmentation
5.3 Precision Farming Market, By Technology
5.4 Precision Farming Market, By Hardware Devices and Software & Services
5.5 Precision Farming Market, By Application
5.6 Precision Farming Market, By Geography
5.7 Market Dynamics
5.7.1 Drivers
5.7.1.1 Increasing Global Demand for Food
5.7.1.2 Monitoring Crop Health for Yield Production
5.7.1.3 Extended Profitability & Production
5.7.1.4 Government Assistance
5.7.1.5 Cost Reduction
5.7.1.6 Advancement in the Agricultural Industry
5.7.2 Restraints
5.7.2.1 Huge Capital Investment
5.7.2.2 Lack of Awareness About Technology
5.7.3 Opportunities
5.7.3.1 Usage of Unmanned Aerial Vehicles(UAV)
5.7.3.2 Expansion of Smartphone Technology in Precision Agriculture
5.7.4 Challenges
5.7.4.1 Management of Data for Productive Decision Making
5.7.5 Burning Issue
5.7.5.1 Environmental Protection

6 Industry Trends
6.1 Introduction
6.2 Supply Chain Analysis
6.3 Industry Trends
6.4 Porter’s Analysis
6.4.1 Bargaining Power of Suppliers
6.4.2 Bargaining Power of Buyers
6.4.3 Threat of New Entrants
6.4.4 Threat of Substitutes
6.4.5 Degree of Competition
6.5 Pestle Analysis
6.5.1 Political Factors
6.5.2 Economic Factors
6.5.3 Social Factors
6.5.4 Technological Factors
6.5.5 Legal Factors
6.5.6 Environmental Factors

7 Market, By Technology
7.1 Introduction
7.2 Guidance Systems
7.2.1 Global Positioning System (GPS)
7.2.2 GNSS Application in Precision Farming
7.2.3 Geographical Information System
7.2.4 GIS Adoption Rate in the U.S.
7.3 Remote Sensing
7.3.1 Handheld Devices
7.3.2 Satellite Sensing
7.4 Variable Rate Technology (VRT)
7.4.1 Variable Rate Fertilizer
7.4.2 Variable Rate Pesticide
7.4.3 Variable Rate Seeding

8 Market, By Hardware Device and Software & Services
8.1 Introduction
8.2 Hardware
8.2.1 Automation & Control System
8.2.1.1 Display
8.2.1.2 Guidance & Steering
8.2.1.3 GPS/GNNS System
8.2.1.4 Mobile Devices
8.2.1.5 Flow and Application Control Devices
8.2.1.6 Others
8.2.2 Sensing and Monitoring Devices
8.2.2.1 Yield Monitors
8.2.2.2 Soil Sensors
8.2.2.2.1 Moisture Sensors
8.2.2.2.2 Temperature Sensors
8.2.2.2.3 Nutrient Sensors
8.2.2.3 Water Sensors
8.2.2.4 Climate Sensors
8.2.2.5 Others
8.3 Software & Services
8.3.1 Introduction
8.3.2 Farm Management Software
8.3.2.1 Local/Web-Based
8.3.2.2 Cloud-Based
8.3.3 Software & Services
8.3.3.1 Design Integration and Consultation
8.3.3.1.1 Managed Services
8.3.3.1.2 Maintenance and Support

9 Market, By Application
9.1 Introduction
9.2 Hardware Application
9.2.1 Yield Monitoring
9.2.1.1 On-Farm Yield Monitoring
9.2.1.2 Off-Farm Field Monitoring
9.2.2 Variable Rate Application
9.2.2.1 Map-Based VRA
9.2.2.2 Sensor-Based VRA
9.2.2.3 Fertilizer VRA
9.2.2.4 Nitrogen VRA
9.2.2.5 Phosphorus VRA
9.2.2.6 Lime VRA
9.2.2.7 Seeding VRA
9.2.2.8 Pesticide VRA
9.2.3 Field Mapping
9.2.3.1 Boundary Mapping
9.2.3.2 Drainage Mapping
9.2.4 Soil Monitoring
9.2.4.1 Moisture Monitoring
9.2.4.2 Nutrient Monitoring
9.2.5 Crop Scouting
9.3 Software Applications
9.3.1 Crop Management
9.3.2 Financial Management
9.3.3 Farm Inventory Management
9.3.4 Personnel Management
9.3.5 Weather Tracking and Forecasting
9.3.6 Others

10 Geographic Analysis
10.1 Introduction
10.2 Americas
10.2.1 North America
10.2.1.1 U.S.
10.2.1.2 Canada
10.2.1.3 Mexico
10.2.2 South America
10.2.2.1 Brazil
10.2.2.2 Argentina
10.2.3 Others
10.3 Europe
10.3.1 Germany
10.3.2 U.K.
10.3.3 France
10.3.4 Others
10.4 APAC
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Others
10.5 Rest of the World
10.5.1 Australia
10.5.2 Middle East
10.5.3 Africa
10.5.3.1 Contribution of South Africa in the Precision Farming Market
10.5.4 Others

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Situation and Trends
11.3.1 New Product Launches
11.3.2 Agreements, Partnerships, and Collaborations
11.3.3 Acquisitions and Joint Ventures
11.3.4 Expansions

12 Company Profiles (Overview, Products and Services, Financials, Strategy & Development)*
12.1 Introduction
12.2 Deere & Company
12.3 Trimble Navigation Limited
12.4 AGCO Corporation
12.5 Agjunction Inc.
12.6 Raven Industries Inc.
12.7 AG Leader Technology
12.8 Precision Planting Inc.
12.9 SST Development Group, Inc.
12.10 Teejet Technologies
12.11 Topcon Precision Agriculture

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports

List of Tables

Table 1 Incresaing Global Food Demand and Advancement in Agricultural Industry to Drive the Market for Precision Farming Products
Table 2 Huge Capital Investment Restraining the Growth of Precision Farming Market
Table 3 Usage of Unmanned Aerial Vehicles are an Opportunity for the Market
Table 4 Management of Data to Assist Decision Making—A Challenge to the Growth of Market
Table 5 Precision Farming Market Size, By Technology, 2013–2020 (USD Million)
Table 6 Precision Farming Market Size, By Guidance System, 2013–2020 (USD Million)
Table 7 Types of Satellite Remote Sensing Images
Table 8 Precision Farming Market Size, By Remote Sensing, 2013–2020 (USD Million)
Table 9 Precision Farming Market Size, By Variable Rate Technology (VRT), 2013–2020 (USD Million)
Table 10 Precision Farming Market Size for Hardware Devices and Software & Services, 2013–2020 (USD Million)
Table 11 Precision Farming Market Size for Hardware Devices, 2013–2020 (USD Million)
Table 12 Precision Farming Market Size for Automation & Control Systems, 2013–2020 (USD Million)
Table 13 Precision Farming Market Size for Sensing & Monitoring Devices, 2013–2020 (USD Million)
Table 14 Precision Farming Market Size for Soil Sensors, 2013–2020 (USD Million)
Table 15 Precision Farming Market Size for Software & Services, 2013–2020 (USD Million)
Table 16 Precision Farming Market Size for Farm Management Software, 2013–2020 (USD Million)
Table 17 Precision Farming Market Size for Software & Services, 2013–2020 (USD Million)
Table 18 Americas: Precision Farming Market Size for Hardware Devices and Software & Services, 2013–2020 (USD Million)
Table 19 Europe: Precision Farming Market Size for Hardware Devices and Software & Services, 2013–2020 (USD Million)
Table 20 APAC: Precision Farming Market Size for Hardware Devices and Software, & Services 2013–2020 (USD Million)
Table 21 RoW: Precision Farming Market Size for Hardware Devices and Software & Services, and Services 2013–2020 (USD Million)
Table 22 Precision Farming Market Size, By Application, 2013–2020 (USD Million)
Table 23 Benefits of Yield Monitoring
Table 24 Precision Farming Market Size, By Hardware Application, 2013–2020 (USD Million)
Table 25 Precision Farming Market Size, By Software Application, 2013–2020 (USD Million)
Table 26 Precision Farming Market Size, By Geography, 2013–2020 (USD Million)
Table 27 Automation & Control Systems Market Size, By Geography, 2013–2020 (USD Million)
Table 28 Sensing & Monitoring Devices Market Size, By Geography, 2013–2020 (USD Million)
Table 29 Farm Management Software Market Size, By Geography, 2013–2020 (USD Million)
Table 30 Software & Services Market Size, By Geography, 2013–2020 (USD Million)
Table 31 Precision Farming Market Size for Yield Monitoring, By Geography, 2013–2020 (USD Million)
Table 32 Precision Farming Market Size for Variable Rate Application (VRA), By Geography, 2013–2020 (USD Million)
Table 33 Precision Farming Market Size for Field Mapping, By Geography, 2013–2020 (USD Million)
Table 34 Precision Farming Market Size for Soil Monitoring, By Geography, 2013–2020 (USD Million)
Table 35 Precision Farming Market Size for Crop Scouting, By Geography, 2013–2020 (USD Million)
Table 36 Precision Farming Market Size for Other Hardware Applications, By Geography, 2013–2020 (USD Million)
Table 37 Precision Farming Market Size for Crop Management, By Geography, 2013–2020 (USD Million)
Table 38 Precision Farming Market Size for Financial Management, By Geography, 2013–2020 (USD Million)
Table 39 Precision Farming Market Size for Farm Inventory Management, By Geography, 2013–2020 (USD Million)
Table 40 Precision Farming Market Size for Personnel Management, By Geography, 2013–2020 (USD Million)
Table 41 Precision Farming Market Size for Weather Tracking and Forecasting, By Geography, 2013–2020 (USD Million)
Table 42 Precision Farming Market Size for Other Software Applications, By Geography, 2013–2020 (USD Million)
Table 43 Americas: Precision Farming Market Size, 2013–2020 (USD Million)
Table 44 Americas: Automation & Control Systems Market Size, 2013–2020 (USD Million)
Table 45 Americas: Sensing & Monitoring Devices Market Size, 2013–2020 (USD Million)
Table 46 Americas: Farm Management Software Market Size, 2013–2020 (USD Million)
Table 47 Americas: Software & Services Market Size, 2013–2020 (USD Million)
Table 48 North America: Precision Farming Market Size, By Country, 2013–2020 (USD Million)
Table 49 North America: Automation &Control Systems Market Size, By Country, 2013–2020 (USD Million)
Table 50 North America: Sensing & Monitoring Devices Market Size, By Country, 2013–2020 (USD Million)
Table 51 North America: Farm Management Software Market Size, By Country, 2013–2020 (USD Million)
Table 52 North America: Software & Services Market Size, By Country, 2013–2020 (USD Million)
Table 53 South America: Precision Farming Market Size, By Country, 2013–2020 (USD Million)
Table 54 South America: Automation & Control Systems Market Size, By Country, 2013–2020 (USD Million)
Table 55 South America: Sensing & Monitoring Devices Market Size, By Country, 2013–2020 (USD Million)
Table 56 Europe: Precision Farming Market Size, By Country, 2013–2020 (USD Million)
Table 57 Europe: Automation & Control Systems Market Size, By Country, 2013–2020 (USD Million)
Table 58 Europe: Sensing & Monitoring Devices Market Size, By Country, 2013–2020 (USD Million)
Table 59 Europe: Farm Management Software Market Size, By Country, 2013–2020 (USD Million)
Table 60 Europe: Software & Services Market Size, By Country, 2013–2020 (USD Million)
Table 61 APAC: Precision Farming Market Size, By Country, 2013–2020 (USD Million)
Table 62 APAC: Automation &Control Systems Market Size, By Country, 2013–2020 (USD Million)
Table 63 APAC: Sensing & Monitoring Devices Market Size, By Country, 2013–2020 (USD Million)
Table 64 APAC: Farm Management Software Market Size, By Country, 2013–2020 (USD Million)
Table 65 APAC: Software & Services Market Size, By Country, 2013–2020 (USD Million)
Table 66 RoW: Precision Farming Market Size, By Country, 2013–2020 (USD Million)
Table 67 RoW: Automation & Control Systems Market Size, By Geography, 2013–2020 (USD Million)
Table 68 RoW: Sensing & Monitoring Devices Market Size, By Geography, 2013–2020 (USD Million)
Table 69 RoW: Farm Management Software Market Size, By Geography, 2013–2020 (USD Million)
Table 70 RoW: Software & Services Market Size, By Geography, 2013–2020 (USD Million)
Table 71 New Product Launches, 2013–2015
Table 72 Agreements, Partnerships, and Collaborations, 2013–2015
Table 73 Acquisitions and Joint Ventures, 2013–2015
Table 74 Expansions, 2013–2015

List of Figures

Figure 1 Global Precision Farming Market, By Hardware Devices and Software & Services
Figure 2 Precision Farming Market: Research Design
Figure 3 Precision Farming Market: Bottom-Up Approach
Figure 4 Precision Farming Market: Top-Down Approach
Figure 5 Variable Rate Technology Expected to Grow at the Highest Rate During the Forecast Period
Figure 6 The Americas Expected to Hold the Largest Share of the Global Precision Farming Market in 2015
Figure 7 Variable Rate Application Expected to Have High Growth Rate in the Precision Farming Market Based on Application in 2015
Figure 8 Precision Farming Market in the Americas Expected to Have the Largest Share in 2015
Figure 9 Precision Farming Market Between 2015 and 2020
Figure 10 Automation and Control Systems Expected to Hold the Largest Share of the Precision Farming Market Based on Hardware Devices and Software & Services in 2015
Figure 11 Guidance Systems Estimated to Hold the Largest Market Share in 2015 (USD Million)
Figure 12 Americas Precision Farming Market Estimated to Have Lagrest Market Share in 2015
Figure 13 The Overall Life Cycle for Precision Farming Expected to Be Long and Steadily Growing
Figure 14 Aspects of Precision Farming
Figure 15 Evolution of Precision Farming
Figure 16 Increasing Global Food Demand to Boost the Growth of the Precision Farming Market
Figure 17 World Food Consumption in KCAL/ Person/Day, By 2030
Figure 18 USDA Budget Authority, USD Billion, 2012–2016
Figure 19 Reasons for Not Using Precision Agriculture Techniques in the U.K, 2012
Figure 20 Precision Farming Market: Supply Chain Analysis
Figure 21 Big Data Opportunities—The Leading Trend Among Key Market Players
Figure 22 Overall Porters Five Force Model for Precision Farming Market
Figure 23 Porter’s Five Forces Analysis, 2014
Figure 24 Bargaining Power of Suppliers in Precision Farming Market, 2014
Figure 25 Bargaining Power of Buyers in Precision Farming Market, 2014
Figure 26 Threat of New Entrants in Precision Farming Market, 2014
Figure 27 Threat of Substitutes in Precision Farming Market, 2014
Figure 28 Degree of Competition in Precision Farming Market, 2014
Figure 29 Precision Farming Market, By Technology
Figure 30 Variable Rate Technology (VRT) Poised to Grow at the Highest Rate Between 2015 and 2020
Figure 31 GNSS Technology Accuracy Levels
Figure 32 GNSS Application Pyramid
Figure 33 GIS in Precision Agriculture
Figure 34 GIS Adoption Rate in the U.S., 2013–2018
Figure 35 Remote Sensing Systems
Figure 36 Variable Rate Seeding
Figure 37 Precision Farming Market, By Hardware Device and Software & Services
Figure 38 Farm Management Software Expected to Witness the Highest Growth Rate of 16.5% Between 2015 and 2020
Figure 39 Precision Farming Market, By Application
Figure 40 Variable Rate Application (VRA) Expected to Have A High Adoption Rate in 2015
Figure 41 Field Application Analysis in the U.S. Market
Figure 42 Precision Farming Market Segmentation, By Geography
Figure 43 Geographic Snapshot: APAC Emerging as A Key Growth Region for the Precision Farming Market During the Forecast Period
Figure 44 Asia-Pacific and RoW to Witness the Highest Growth During the Forecast Period
Figure 45 Precision Farming Market Snapshot for the Americas
Figure 46 Precision Farming Market Snapshot for Europe
Figure 47 APAC Market Snapshot
Figure 48 Companies Adopted New Product Launches as the Key Growth Strategy Between 2013 and 2015
Figure 49 Precision Farming Market Share, By Key Player, 2014
Figure 50 Battle for Market Share: New Product Launches Key Strategy for 2013-2015
Figure 51 Geographic Revenue Mix of Top Players
Figure 52 Derre & Company : Company Snapshot
Figure 53 Deere & Company: SWOT Analysis
Figure 54 Trimble Navigation Limited : Company Snapshot
Figure 55 Trimble Navigation Limited: SWOT Analysis
Figure 56 AGCO Corporation: Company Snapshot
Figure 57 ACGO Corporation: SWOT Analysis
Figure 58 Agjunction Inc.: Company Snapshot
Figure 59 Agjunction Inc.: SWOT Analysis
Figure 60 Raven Industries Inc.: Company Snapshot
Figure 61 Raven Industries Ltd.: SWOT Analysis

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