The North America Precision Farming Market would witness market growth of 6.4% CAGR during the forecast period (2021-2027).
Precision farming is a site-specific crop management (SSCM) technique used by farmers to increase crop yield and quality in their fields. It makes use of cutting-edge technology like GPS, GIS, telematics, and remote sensing. Precision farming is a more efficient farming method than traditional ones. Farmers have been forced to move to precision farming due to rising food demand and rapid expansion in the agriculture business. Furthermore, the market's growth is bolstered by its unrivaled features, such as weather forecasting, soil research, and agricultural yield collecting and analysis. Moreover, farmers may acquire real-time crop data using a variety of components such as sensors, drones, agriculture software, and GPS.
Precision farming has enhanced production while lowering labor costs because of the use of technologies including VRT, remote sensing, GPS, GIS, and guiding technology. Similarly, agricultural equipment based on cutting-edge technology has allowed for the most effective utilization of resources. Precision farming equipment based on innovative technologies not only enhances agricultural operations while cutting labor expenses. Weeding, fertilizer application, and site inspections are procedures that take place prior to harvesting. Precision farming uses drones with cameras for spraying, trimming, weeding, and harvesting. These drones take hyperspectral pictures, allowing farmers to keep an eye on their farms from afar.
Growing awareness of crop quality and the introduction of new efforts to bring innovation to the sector are the key trends in the regional market. In 2018, the US government enacted the Precision Agriculture Connection Act to address the precision farming industry's connectivity demands in the United States. A task group was established by the regulatory authority to study and make policy suggestions on how to increase broadband internet connectivity in croplands.
The region is an early adopter of Precision Farming technologies. Moreover, the region has witnessed increased government incentives for the adoption of modern agriculture technologies, as well as enhanced infrastructure. To raise awareness among farmers, the National Institute of Food and Agriculture (NIFA), which is part of the United States Department of Agriculture, runs geospatial, sensor, and precision technology projects. Moreover, NIFA assists farmers in developing robust sensors, accompanying software, and instruments for modeling, monitoring, and evaluating a wide range of complex biological materials and processes in collaboration with Land-Grand universities.
The US market dominated the North America Precision Farming Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3,355.8 million by 2027. The Canada market is exhibiting a CAGR of 8.8% during (2021 - 2027). Additionally, The Mexico market would display a CAGR of 7.9% during (2021 - 2027).
Based on Technology, the market is segmented into Guidance Technology, Remote Sensing Technology, Variable Rate Technology. Based on Offering, the market is segmented into Hardware (Automation & Control Systems and Sensing & Monitoring Devices), Software (Local/Web-based and Cloud-based), and Services. Based on Application, the market is segmented into Yield Monitoring, Field Mapping, Weather Tracking & Forecasting, Variable Rate Application, Crop Scouting, Inventory Management, Farm Labour Management, Financial Management and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Precision Farming Market is Estimated to reach $11.1 Billion by 2027, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Trimble, Inc., CNH Industrial N.V., AgEagle Aerial Systems, Inc., Topcon Corporation (Topcon Positioning Systems, Inc.), Hexagon AB (Hexagon Agriculture), CropX, Inc., CropIn Technology Solutions Private Limited, Telus International, Inc., Deere & Company, and AGCO Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Technology
- Guidance Technology
- Remote Sensing Technology
- Variable Rate Technology
By Offering
- Hardware
- Automation & Control Systems
- Sensing & Monitoring Devices
- Software
- Local/Web-based
- Cloud-based
- Services
By Application
- Yield Monitoring
- Field Mapping
- Weather Tracking & Forecasting
- Variable Rate Application
- Crop Scouting
- Inventory Management
- Farm Labor Management
- Financial Management
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Trimble, Inc.
- CNH Industrial N.V.
- AgEagle Aerial Systems, Inc.
- Topcon Corporation (Topcon Positioning Systems, Inc.)
- Hexagon AB (Hexagon Agriculture)
- CropX, Inc.
- CropIn Technology Solutions Private Limited
- Telus International, Inc.
- Deere & Company
- AGCO Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Precision Farming Market, by Technology
1.4.2 North America Precision Farming Market, by Offering
1.4.3 North America Precision Farming Market, by Application
1.4.4 North America Precision Farming Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2018, May – 2022, Feb) Leading Players
Chapter 4. North America Precision Farming Market by Technology
4.1 North America Guidance Technology Market by Country
4.2 North America Remote Sensing Technology Market by Country
4.3 North America Variable Rate Technology Market by Country
Chapter 5. North America Precision Farming Market by Offering
5.1 North America Hardware Market by Country
5.2 North America Precision Farming Market by Hardware Type
5.2.1 North America Automation & Control Systems Market by Country
5.2.2 North America Sensing & Monitoring Devices Market by Country
5.3 North America Software Market by Country
5.4 North America Precision Farming Market by Software Type
5.4.1 North America Local/Web-based Market by Country
5.4.2 North America Cloud-based Market by Country
5.5 North America Services Market by Country
Chapter 6. North America Precision Farming Market by Application
6.1 North America Yield Monitoring Market by Country
6.2 North America Field Mapping Market by Country
6.3 North America Weather Tracking & Forecasting Market by Country
6.4 North America Variable Rate Application Market by Country
6.5 North America Crop Scouting Market by Country
6.6 North America Inventory Management Market by Country
6.7 North America Farm Labor Management Market by Country
6.8 North America Financial Management Market by Country
6.9 North America Others Market by Country
Chapter 7. North America Precision Farming Market by Country
7.1 US Precision Farming Market
7.1.1 US Precision Farming Market by Technology
7.1.2 US Precision Farming Market by Offering
7.1.2.1 US Precision Farming Market by Hardware Type
7.1.2.2 US Precision Farming Market by Software Type
7.1.3 US Precision Farming Market by Application
7.2 Canada Precision Farming Market
7.2.1 Canada Precision Farming Market by Technology
7.2.2 Canada Precision Farming Market by Offering
7.2.2.1 Canada Precision Farming Market by Hardware Type
7.2.2.2 Canada Precision Farming Market by Software Type
7.2.3 Canada Precision Farming Market by Application
7.3 Mexico Precision Farming Market
7.3.1 Mexico Precision Farming Market by Technology
7.3.2 Mexico Precision Farming Market by Offering
7.3.2.1 Mexico Precision Farming Market by Hardware Type
7.3.2.2 Mexico Precision Farming Market by Software Type
7.3.3 Mexico Precision Farming Market by Application
7.4 Rest of North America Precision Farming Market
7.4.1 Rest of North America Precision Farming Market by Technology
7.4.2 Rest of North America Precision Farming Market by Offering
7.4.2.1 Rest of North America Precision Farming Market by Hardware Type
7.4.2.2 Rest of North America Precision Farming Market by Software Type
7.4.3 Rest of North America Precision Farming Market by Application
Chapter 8. Company Profiles
8.1 Hexagon AB (Hexagon Agriculture)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.2 AgEagle Aerial Systems, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Research & Development Expenses
8.2.4 Recent strategies and developments:
8.2.4.1 Acquisition and Mergers:
8.3 Topcon Corporation (Topcon Positioning Systems, Inc.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.4 Trimble, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 TELUS International, Inc. (TELUS Agriculture)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Partnerships, Collaborations, and Agreements:
8.5.4.2 Product Launches and Product Expansions:
8.5.4.3 Acquisition and Mergers:
8.6 CNH Industrial N.V.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional & Segmental Analysis
8.6.4 Research & Development Expenses
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Product Launches and Product Expansions:
8.6.5.3 Acquisition and Mergers:
8.7 Deere & Company
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional & Segmental Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Acquisition and Mergers:
8.8 AGCO Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Recent strategies and developments:
8.8.4.1 Partnerships, Collaborations, and Agreements:
8.8.4.2 Acquisition and Mergers:
8.9 CropIn Technology Solutions Private Limited
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.10. CropX, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
8.10.2.2 Acquisition and Mergers:
TABLE 1 North America Precision Farming Market, 2017 - 2020, USD Million
TABLE 2 North America Precision Farming Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Precision Farming Market
TABLE 4 Product Launches And Product Expansions– Precision Farming Market
TABLE 5 Acquisition and Mergers– Precision Farming Market
TABLE 6 North America Precision Farming Market by Technology, 2017 - 2020, USD Million
TABLE 7 North America Precision Farming Market by Technology, 2021 - 2027, USD Million
TABLE 8 North America Guidance Technology Market by Country, 2017 - 2020, USD Million
TABLE 9 North America Guidance Technology Market by Country, 2021 - 2027, USD Million
TABLE 10 North America Remote Sensing Technology Market by Country, 2017 - 2020, USD Million
TABLE 11 North America Remote Sensing Technology Market by Country, 2021 - 2027, USD Million
TABLE 12 North America Variable Rate Technology Market by Country, 2017 - 2020, USD Million
TABLE 13 North America Variable Rate Technology Market by Country, 2021 - 2027, USD Million
TABLE 14 North America Precision Farming Market by Offering, 2017 - 2020, USD Million
TABLE 15 North America Precision Farming Market by Offering, 2021 - 2027, USD Million
TABLE 16 North America Hardware Market by Country, 2017 - 2020, USD Million
TABLE 17 North America Hardware Market by Country, 2021 - 2027, USD Million
TABLE 18 North America Precision Farming Market by Hardware Type, 2017 - 2020, USD Million
TABLE 19 North America Precision Farming Market by Hardware Type, 2021 - 2027, USD Million
TABLE 20 North America Automation & Control Systems Market by Country, 2017 - 2020, USD Million
TABLE 21 North America Automation & Control Systems Market by Country, 2021 - 2027, USD Million
TABLE 22 North America Sensing & Monitoring Devices Market by Country, 2017 - 2020, USD Million
TABLE 23 North America Sensing & Monitoring Devices Market by Country, 2021 - 2027, USD Million
TABLE 24 North America Software Market by Country, 2017 - 2020, USD Million
TABLE 25 North America Software Market by Country, 2021 - 2027, USD Million
TABLE 26 North America Precision Farming Market by Software Type, 2017 - 2020, USD Million
TABLE 27 North America Precision Farming Market by Software Type, 2021 - 2027, USD Million
TABLE 28 North America Local/Web-based Market by Country, 2017 - 2020, USD Million
TABLE 29 North America Local/Web-based Market by Country, 2021 - 2027, USD Million
TABLE 30 North America Cloud-based Market by Country, 2017 - 2020, USD Million
TABLE 31 North America Cloud-based Market by Country, 2021 - 2027, USD Million
TABLE 32 North America Services Market by Country, 2017 - 2020, USD Million
TABLE 33 North America Services Market by Country, 2021 - 2027, USD Million
TABLE 34 North America Precision Farming Market by Application, 2017 - 2020, USD Million
TABLE 35 North America Precision Farming Market by Application, 2021 - 2027, USD Million
TABLE 36 North America Yield Monitoring Market by Country, 2017 - 2020, USD Million
TABLE 37 North America Yield Monitoring Market by Country, 2021 - 2027, USD Million
TABLE 38 North America Field Mapping Market by Country, 2017 - 2020, USD Million
TABLE 39 North America Field Mapping Market by Country, 2021 - 2027, USD Million
TABLE 40 North America Weather Tracking & Forecasting Market by Country, 2017 - 2020, USD Million
TABLE 41 North America Weather Tracking & Forecasting Market by Country, 2021 - 2027, USD Million
TABLE 42 North America Variable Rate Application Market by Country, 2017 - 2020, USD Million
TABLE 43 North America Variable Rate Application Market by Country, 2021 - 2027, USD Million
TABLE 44 North America Crop Scouting Market by Country, 2017 - 2020, USD Million
TABLE 45 North America Crop Scouting Market by Country, 2021 - 2027, USD Million
TABLE 46 North America Inventory Management Market by Country, 2017 - 2020, USD Million
TABLE 47 North America Inventory Management Market by Country, 2021 - 2027, USD Million
TABLE 48 North America Farm Labor Management Market by Country, 2017 - 2020, USD Million
TABLE 49 North America Farm Labor Management Market by Country, 2021 - 2027, USD Million
TABLE 50 North America Financial Management Market by Country, 2017 - 2020, USD Million
TABLE 51 North America Financial Management Market by Country, 2021 - 2027, USD Million
TABLE 52 North America Others Market by Country, 2017 - 2020, USD Million
TABLE 53 North America Others Market by Country, 2021 - 2027, USD Million
TABLE 54 North America Precision Farming Market by Country, 2017 - 2020, USD Million
TABLE 55 North America Precision Farming Market by Country, 2021 - 2027, USD Million
TABLE 56 US Precision Farming Market, 2017 - 2020, USD Million
TABLE 57 US Precision Farming Market, 2021 - 2027, USD Million
TABLE 58 US Precision Farming Market by Technology, 2017 - 2020, USD Million
TABLE 59 US Precision Farming Market by Technology, 2021 - 2027, USD Million
TABLE 60 US Precision Farming Market by Offering, 2017 - 2020, USD Million
TABLE 61 US Precision Farming Market by Offering, 2021 - 2027, USD Million
TABLE 62 US Precision Farming Market by Hardware Type, 2017 - 2020, USD Million
TABLE 63 US Precision Farming Market by Hardware Type, 2021 - 2027, USD Million
TABLE 64 US Precision Farming Market by Software Type, 2017 - 2020, USD Million
TABLE 65 US Precision Farming Market by Software Type, 2021 - 2027, USD Million
TABLE 66 US Precision Farming Market by Application, 2017 - 2020, USD Million
TABLE 67 US Precision Farming Market by Application, 2021 - 2027, USD Million
TABLE 68 Canada Precision Farming Market, 2017 - 2020, USD Million
TABLE 69 Canada Precision Farming Market, 2021 - 2027, USD Million
TABLE 70 Canada Precision Farming Market by Technology, 2017 - 2020, USD Million
TABLE 71 Canada Precision Farming Market by Technology, 2021 - 2027, USD Million
TABLE 72 Canada Precision Farming Market by Offering, 2017 - 2020, USD Million
TABLE 73 Canada Precision Farming Market by Offering, 2021 - 2027, USD Million
TABLE 74 Canada Precision Farming Market by Hardware Type, 2017 - 2020, USD Million
TABLE 75 Canada Precision Farming Market by Hardware Type, 2021 - 2027, USD Million
TABLE 76 Canada Precision Farming Market by Software Type, 2017 - 2020, USD Million
TABLE 77 Canada Precision Farming Market by Software Type, 2021 - 2027, USD Million
TABLE 78 Canada Precision Farming Market by Application, 2017 - 2020, USD Million
TABLE 79 Canada Precision Farming Market by Application, 2021 - 2027, USD Million
TABLE 80 Mexico Precision Farming Market, 2017 - 2020, USD Million
TABLE 81 Mexico Precision Farming Market, 2021 - 2027, USD Million
TABLE 82 Mexico Precision Farming Market by Technology, 2017 - 2020, USD Million
TABLE 83 Mexico Precision Farming Market by Technology, 2021 - 2027, USD Million
TABLE 84 Mexico Precision Farming Market by Offering, 2017 - 2020, USD Million
TABLE 85 Mexico Precision Farming Market by Offering, 2021 - 2027, USD Million
TABLE 86 Mexico Precision Farming Market by Hardware Type, 2017 - 2020, USD Million
TABLE 87 Mexico Precision Farming Market by Hardware Type, 2021 - 2027, USD Million
TABLE 88 Mexico Precision Farming Market by Software Type, 2017 - 2020, USD Million
TABLE 89 Mexico Precision Farming Market by Software Type, 2021 - 2027, USD Million
TABLE 90 Mexico Precision Farming Market by Application, 2017 - 2020, USD Million
TABLE 91 Mexico Precision Farming Market by Application, 2021 - 2027, USD Million
TABLE 92 Rest of North America Precision Farming Market, 2017 - 2020, USD Million
TABLE 93 Rest of North America Precision Farming Market, 2021 - 2027, USD Million
TABLE 94 Rest of North America Precision Farming Market by Technology, 2017 - 2020, USD Million
TABLE 95 Rest of North America Precision Farming Market by Technology, 2021 - 2027, USD Million
TABLE 96 Rest of North America Precision Farming Market by Offering, 2017 - 2020, USD Million
TABLE 97 Rest of North America Precision Farming Market by Offering, 2021 - 2027, USD Million
TABLE 98 Rest of North America Precision Farming Market by Hardware Type, 2017 - 2020, USD Million
TABLE 99 Rest of North America Precision Farming Market by Hardware Type, 2021 - 2027, USD Million
TABLE 100 Rest of North America Precision Farming Market by Software Type, 2017 - 2020, USD Million
TABLE 101 Rest of North America Precision Farming Market by Software Type, 2021 - 2027, USD Million
TABLE 102 Rest of North America Precision Farming Market by Application, 2017 - 2020, USD Million
TABLE 103 Rest of North America Precision Farming Market by Application, 2021 - 2027, USD Million
TABLE 104 Key information – Hexagon AB
TABLE 105 Key Information – AgEagle Aerial Systems, Inc.
TABLE 106 key Information – Topcon Corporation
TABLE 107 Key Information – Trimble, Inc.
TABLE 108 Key Information – Telus International, Inc.
TABLE 109 Key Information – CNH Industrial N.V.
TABLE 110 Key Information – Deere & Company
TABLE 111 Key Information – AGCO Corporation
TABLE 112 Key Information – CropIn Technology Solutions Private Limited
TABLE 113 Key Information – CropX, inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2018, May – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: Hexagon AB
FIG 6 Recent strategies and developments: Topcon Corporation
FIG 7 Recent strategies and developments: Trimble, Inc.
FIG 8 Recent strategies and developments: Telus International, Inc.
FIG 9 Recent strategies and developments: CNH Industrial N.V.
FIG 10 Recent strategies and developments: Deere & Company
FIG 11 Recent strategies and developments: AGCO Corporation
FIG 12 Recent strategies and developments: CropX, Inc.