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Precision Farming Market By Offerings (Hardware, Software, Services) By Technology (Remote Sensing, Guidance System, Variable Rate Technology) By Application (Yield Monitoring, Crop Scouting, Field Mapping, Controller, Weather Tracking & Forecasting) - Global size Analysis and Industry Forecast, 2018-2023.

 Agriculture

Report Overview

GLOBAL PRECISION FARMING MARKET was valued at USD 3.69 Billion in the year 2017. The Global Precision Farming Market is further estimated to grow at a CAGR of 13.63% from 2018 to reach USD 7.95 Billion by the year 2023. The North America region holds the highest market share in 2017 and the Asia Pacific region is considered as the fastest growing market in the forecasted period due to growing demand of Precision Farming and developing agriculture sector in the region. At a country level, the U.S. and Canada in North America and China, India, and Japan in Asia-Pacific holds the notable market share and is projected to grow strongly in the coming.

Deere & Company (U.S.), AJ Junction, Inc. (U.S.) AGCO Corporation (U.S.), Raven Industries (U.S.) and Trimble, Inc. (U.S.) are some of the key players in the Global Precision Farming market. Better global reach at an operational level is the main reason the key players are holding substantial market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.

Drivers:

            Advancing agricultural techniques

            Various Government initiative for the agriculture sector

            Growing awareness of precision farming

Restraints:

            High initial investments

Opportunities:

            Growing usage of a smartphone in farming

Challenges:

            Lack of technology acceptance

            Lack of standardization

The segmentation is done on the basis of offerings, by technology, by application, and by region. On the basis of offerings, the global Precision Farming market is sub-segmented as hardware, software & services of which the service segment is expected to hold the highest market share during the forecast.

The segmentation done on the basis of technology includes remote sensing, guidance system and variable rate technology of which Variable Rate Technology segment is expected to hold the highest market share due to high demand and various benefits. On the basis of Application the market is segmented as yield monitoring, crop scouting, field mapping, weather tracking & forecasting, inventory management, farm labor management and irrigation management of which yield monitoring application type holds the highest market share and is expected to grow at the highest CAGR during the forecasted period due to rise in consumption.

Key Benefits for Stakeholders

Precision Farming Manufacturers, Distributors and Retailers

Research and Consulting Organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Offerings

Hardware

            Automation & Control System

            Sensing and Monitoring Devices

Software

            Cloud-Based

            Local/Web Based

Services

By Technology

Remote Sensing

Guidance System

Variable Rate Technology

By Application

Yield monitoring

Crop scouting

Field mapping

Weather tracking & forecasting

Inventory management

Farm labor management

Irrigation management

By Region

North America

Europe

Asia-Pacific

RoW

Key Market Players

Deere & Company

AGCO Corporation

AgSmarts Inc.

Monsanto Company

Ag Leader Technology

Ag Leader Technology

Agribotix LLC

Raven Industries

Trimble, Inc.

AgJunction, Inc.

SST Development Group, Inc.

Farmers Edge Inc.

(A brief overview of 13 companies is also provided)

Research Methodology:

Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques –

  1. Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
  2. Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
  3. To avoid bias, we filter the collected data collected from authenticated sources.
  4. GMI has a well proven Statistical Modeling System for estimates and forecasts.
  5. Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
  6. Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

Detailed customization is also available for you. Further, if the report listed above does not meet your key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.

Table Of Content

1. Introduction

1.1 Market Vision

       1.1.1 Market Definition

       1.1.2 Market Scope

1.2 Limitations

1.3 Stakeholders

2. Research Methodology

2.1. Research Process

       2.1.1. Secondary Research

             2.1.1.1. Key Data from Secondary Research

       2.1.2. Primary Research

             2.1.2.1. Key Data from Primary Research

             2.1.2.2. Breakdowns of Primary Interviews

2.2. Market Size Estimation

       2.2.1. Bottoms-Up Approach

       2.2.2. Top-Down Approach

       2.2.3. Annual Revenue Process

2.3. Data Triangulation 

2.4. Research Assumptions 

       2.4.1. Assumption

3. Executive Summary

4. Market Overview

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

4.6. Regulations

4.7. Supply Chain/Value Chain Analysis

4.8. Patent & Standards

5. Industry Trends

5.1. Introduction

5.2. Porter’s Five Forces Analysis

       5.2.1. Threat of New Entrants

       5.2.2. Threat of Substitutes

       5.2.3. Bargaining Power of Buyers

       5.2.4. Bargaining Power of Suppliers

       5.2.5. Intensity of Competitive Rivalry

6. Precision Farming Market, by offerings

6.1 Hardware

            6.1.1 Automation & Control System

            6.1.2 Sensing and Monitoring Devices

6.2 Software

            6.2.1 Cloud-Based

            6.2.2 Local/Web Based

6.3 Services

7. Precision Farming Market, By Technology

7.1 Remote Sensing

7.2 Guidance System

7.3 Variable Rate Technology

8. Precision Farming Market, By Application

8.1 Yield monitoring

8.2 Crop scouting

8.3 Field mapping

8.4 Weather tracking & forecasting

8.5 Inventory management

8.6 Farm labor management

8.7 Irrigation management

9. Geographical Analysis

9.1. Introduction

9.2. North America

       9.2.1. U.S.

       9.2.2. Canada

       9.2.3. Mexico

9.3. Europe

       9.3.1. U.K.

       9.3.2. Germany

       9.3.3. France

       9.3.4. RoE

9.4. Asia Pacific

       9.4.1. South Korea

       9.4.2. China

       9.4.3. Japan

       9.4.4. RoAPAC

9.5. RoW

       9.5.1. Latin America

       9.5.2. Middle East and Africa

10. Company Profiles

(Business Overview, Financial Overview, Product write Up, Recent Developments)

10.1 Deere & Company

10.2 AGCO Corporation

10.3 AgSmarts Inc.

10.4 Monsanto Company

10.5 Ag Leader Technology

10.6 Ag Leader Technology

10.7 Agribotix LLC

10.8 Raven Industries

10.9 Trimble, Inc.

10.10 AgJunction, Inc.

10.11. SST Development Group, Inc.

10.12 Farmers Edge Inc.

(A brief overview of 15 companies is also provided.)

11. Competitive Analysis

11.1. Introduction

11.2. Market Positioning of Key Players

11.3 Competitive Strategies Adopted by Leading Players

        11.3.1. Investments & Expansions

        11.3.2. New Product Launches

        11.3.3. Mergers & Acquisitions

        11.3.4. Agreements, Joint Ventures, and Partnerships

12. Appendix

12.1. Questionnaire

12.2. Available Customizations 

12.3. Upcoming Events (Trade Fair, Exhibitions, Conferences)

 

Summary

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