Global Precision Farming Software Market, By Delivery Model (Local/ Web- Based and Cloud- Based), Technology (Guidance System Technologies, Remote Sensing and Control System, and Variable Rate Technology), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Inventory Management, Farm Labour Management, Financial Management, and Others) – Industry Trends and Forecast to 2030.
Precision Farming Software Market Analysis and Size
Expanding the appropriation of intelligent advancements in the worldwide agribusiness area would imply growth in the precision farming software market value. Rising initiatives by the government to upgrade ranchers' proficiency through new advances will also create lucrative growth opportunities for the precision farming software market in the long run. Establishment of intellectual property benefits on farming innovations will also propel growth in the precision farming software market demand. Further, the rising demand for food owing to the ever-rising population will also bolster the precision farming software market growth rate in the upward direction.
Data Bridge Market Research analyses that the Precision Farming Software market, which was USD 6.75 billion in 2022, would rocket up to USD 21.26 billion by 2030 and is expected to undergo a CAGR of 15.22% during the forecast period.“Guidance system technologies” dominates the technology segment of the precision farming software market owing to the growing demand for the installation of devices across various industries.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Precision Farming Software Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Delivery Model (Local/ Web- Based and Cloud- Based), Technology (Guidance System Technologies, Remote Sensing and Control System, and Variable Rate Technology), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Inventory Management, Farm Labour Management, Financial Management, and Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa
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Market Players Covered
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IBM (U.S.), AgDNA (U.S.), AGCO Corporation. (U.S.), DTN (U.S.), FTI Pty Ltd (U.S.), Grownetics, Inc. (U.S.), Auroras s.r.l. (U.S.), Granular, Inc. (U.S.), TOPCON CORPORATION (Japan), The Climate Corporation (U.S.), Farmers Edge Inc. (Canada), DICKEY-john. (U.S.), Conservis (U.S.), Ag Leader Technology (U.S.), Raven Industries, Inc. (U,.S.), Iteris, Inc. (U.S.), Reed Business Information Ltd (U.S.), AgJunction (Canada), Trimble Inc. (U.S.) and Deere & Company (U.S.) among others
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Market Opportunities
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Market Definition
Precision agriculture uses Information Technology (IT) to ensure that crops and soil receive exactly what they need for optimum health and productivity. Precision farming measures variables such as soil temperature, humidity, climate patterns, development, and so on. Precision farming is the incorporation of traditional farming and agricultural practices with modern and advanced technologies.
Precision Farming Software Market Dynamics
Drivers
- Rising initiatives by government
Nowadays, government of different countries across the globe is giving more priority to the welfare of farmers. In this regard, it implements several farmers' welfare schemes to revitalize the agriculture sector and improve their economic conditions. Therefore, the government has rolled out new initiatives, schemes, programs, and plans to benefit all farmers. This is expected to drive the precision agriculture market.
- Rising demand for food owing to the rising global population
The rising demand for food means that several inputs into the food production process, such as the availability of fresh water, will come under pressure. In the future, it will be especially important to reduce the amount of water needed, such as by growing plants that require less water or improving irrigation systems. Furthermore, this will create a demand for precision farming to improve production capacity.
Opportunities
- Establishment of intellectual property benefits on farming innovations
Nowadays, in agricultural trade, intellectual property is becoming gradually important. It is not a physical property, and it is solely a construct of the mind. In the future, innovation and product differentiation will likely be important to agricultural industries. In the world markets, there is vast competition, the more benefit may accrue to those producers who adopt Intellectual Property (IP) to the greatest advantage. Henceforth, this will provide a greater global precision farming market opportunity.
Restraints/Challenges
- Limited technical knowledge and skills of farmers or growers
A lack of knowledge keeps many farmers from investing in new agricultural technology. In addition, lack of knowledge has been highlighted as the main reason farmers are holding back on agri-tech investments. This is expected to restrain the market growth.
This Precision Farming Software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Precision Farming Software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2022, the government of India established 22 Precision Farming Development Centres (PFDCs) across the country to develop and disseminate regionally differentiated Precision Farming technologies such as Micro Irrigation and hi-tech agriculture
- In April 2022, Canadians and 20% of Australians, also with big farms, are the next largest adopters of the system. Western European countries began adoption a decade after the USA, and 68% of their small farms also use the technology.
Global Precision Farming Software Market Scope
The precision farming software market is segmented on the basis of delivery model, technology, application, and service provider. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Deliver Model
- Local/ Web- based
- Cloud- based
Technology
- Guidance System Technologies
- Remote Sensing and Control System
- Variable Rate Technology
Application
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking and Forecasting
- Irrigation Management
- Inventory Management
- Farm Labour Management
- Financial Management
- Others
Service Provider
- System Integrators
- Managed Services Providers
- Maintenance
- Software Up Gradation
- Support Services Providers
Precision Farming Software Market Regional Analysis/Insights
The precision farming software market is analysed and market size insights and trends are provided by country, delivery model, technology, application, and service provider as referenced above.
The countries covered in the Precision Farming Software market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa.
North America accounted for the largest market share due to the increased spending capacity of consumers for smart electronics , which is augmenting the demand for the market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The precision farming software market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Precision Farming Software market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Precision Farming Software market. The data is available for historic period 2010-2020.
Competitive Landscape and Precision Farming Software Market Share Analysis
The precision farming software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to precision farming software market.
Some of the major players operating in the precision farming software market are
- IBM (U.S.)
- AgDNA (U.S.)
- AGCO Corporation. (U.S.)
- DTN (U.S.)
- FTI Pty Ltd (U.S.)
- Grownetics, Inc. (U.S.)
- Auroras s.r.l. (U.S.)
- Granular, Inc. (U.S.)
- TOPCON CORPORATION (Japan)
- The Climate Corporation (U.S.)
- Farmers Edge Inc. (Canada)
- DICKEY-john. (U.S.),
- Conservis (U.S.)
- Ag Leader Technology (U.S.)
- Raven Industries, Inc. (U,.S.)
- Iteris, Inc. (U.S.)
- Reed Business Information Ltd (U.S.)
- AgJunction (Canada)
- Trimble Inc. (U.S.)
- Deere & Company (U.S.) among others
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