report-image

Precision Farming Software Market Size, Industry Analysis by Delivery Model (Local or web-based, Cloud-Based, SaaS, PaaS), by Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting), by Service Provider (System Integrators, Managed Services Providers, Assisted Professional Service Providers, Connectivity Service Providers) & Region - Forecast

  • PUBLISHED ON
  • 2024-02-08
  • NO OF PAGES
  • 213
  • CATEGORY
  • Information Communication & Technology

Global Precision Farming Software Market Analysis by Delivery Mode, Application, Service Providers, Region and segments forecast till 2033

Market Overview

The Global Precision Farming Software Market valued at USD 1058.77 million in 2022, is expected to reach a value of USD 3103.89 million in 2033, growing at a CAGR of 14.39%.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 1058.77 million

Market Forecast in 2033

USD 3103.89 million

CAGR % 2023-2033

14.39%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more

Key Companies

AG Leader Technology; AgJunction Inc.; CropMetrics LLC; Trimble Inc.; AGCO Corporation; Raven Industries Inc.

 

Global Precision Farming Software Market- Description

Precision farming is one of the most scientifically advanced and technologically advanced methods of sustainable agriculture that has gained traction in the twenty-first century. Consider the following scenario A farmer drives his GPS (Global Positioning System) guided tractor to his field. The GPS detects the tractor’s exact location within the field. It delivers the signal to a tractor computer with a GIS that stores the soil nutrient demand map.

The GIS, in collaboration with a Decision Support System, determines the specific fertilizer required for that spot and then directs a variable rate fertilizer applicator, which is attached to the tractor, to apply the appropriate dose at that precise position. All of this happens in a split second before the tractor drives any further.

This is what precision farming (PF) means to large producers in the United States and Europe. As a result, the first thought that comes to mind is that this system is not suitable for emerging countries, particularly India, where farmers are impoverished, agriculture is primarily subsistence, and land holdings are modest. The expansion of the Internet of Things (IoT) and the application of advanced analytics by farmers are both contributing to the growth. Advanced analytics, a branch of data science that uses a variety of tools and techniques to forecast data and guarantee the proper care of crops and soil is driving the market growth. Crop production is being hampered by several issues, including the loss of natural resources and the degradation of the environment.

Key Trends of Global Precision Farming Software Market:

·         Adoption of IoT (Internet of Things):

The Internet of Things (IoT), software, artificial intelligence, big data, and other technologies are used to efficiently utilize farm inputs to reduce costs and increase output. Precision agriculture necessitates specialized personnel, which is in short supply, thus precision farmers revere and prefer software that can be productive in the face of present obstacles. This circumstance is one of the most important drivers driving the Market forward.

·         Data Breaches and Security Concerns:

The security and privacy of the video content shared across various platforms can present major concerns for companies. Furthermore, organizations are concerned about copyright and Digital Rights Management (DRM) due to the risk of misappropriation, information leakage, and data breaches. In 2020, the healthcare, finance, manufacturing, information, and public sectors experienced the highest number of data breaches. To overcome such constraints, organizations must restructure their precision farming strategy before using these solutions.

Segmental Analysis of Global Precision Farming Software Market:

Based on Delivery Model:

• Local or Web-Based

• Cloud-Based

• Software as a Service (SaaS)

• Platform as a service (PaaS)

Based On Application:

• Yield Monitoring

• Field Monitoring

• Crop Scouting

• Weather Tracking and Forecasting

• Inventory Management

• Farm Labour Management

• Financial Management

• Others

The yield monitoring segment accounted for the largest revenue share of 44.11% and is expected to continue its dominance over the forecast period as it helps the farmers to make decisions about their fields. The segment is further segregated into on-farm yield monitoring and off-farm yield monitoring.

Based On Service Provider:

• Systems Integrators

• Managed Services Providers

• Assisted Professional Services Providers

• Connectivity Services Providers

• Maintenance, Software Upgradation and Support Service Providers

Global Precision Framing Software Market: Geographical Analysis

The Global Precision Farming Software Market is further segmented into five major countries- North America, Europe, Latin America, Asia-pacific and Middle East and Africa.

North America accounted for the largest revenue share of 45.09%. The region is an early adopter of technologies. Factors such as increasing government initiatives that support the adoption of modern agriculture technologies and developed infrastructure have contributed to the high revenue of the regional market. For instance, the National Institute of Food and Agriculture (NIFA)-part of the U.S. Department of Agriculture-conducts geospatial, sensor, and precision technology programs to create awareness among farmers. In partnership with Land-Grand universities, NIFA helps farmers develop robust sensors, associated software, and instrumentation for modelling, observing, and analyzing a wide range of complex biological materials and processes.

Global Precision Farming Software Market: Recent Developments

·         In December 2018, AgJunction Inc. entered into a partnership with Mahindra and Mahindra Ltd. With this agreement, both the companies agreed to prepare a statement of work for the future development of products for the farmers.

Global Precision Farming Software Market: Key Companies

·         AG Leader Technology

·         AgJunction Inc.

·         CropMetrics LLC

·         Trimble Inc.

·         AGCO Corporation

·         Raven Industries Inc.

·         Others

Global Precision Farming Software Market: Regional Scope        

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

Why to buy this Report?

Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of the market they are operating in or considering entering, and make more informed decisions based on data and analysis.

Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in the market.

Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.

Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.

1.    Global Precision Farming Software Market Introduction and Market Overview

1.1.  Objectives of the Study

1.2.  Precision Farming Software Market  Definition & Description

1.3.  Global Precision Farming Software Market Scope and Market Estimation

1.3.1.     Global Precision Farming Software Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)

1.3.2.     Global Precision Farming Software Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033

1.4.  Market Segmentation

1.4.1.     Delivery Model of Global Precision Farming Software Market

1.4.2.     Application of Global Precision Farming Software Market

1.4.3.     Service Provider of Global Precision Farming Software Market

1.4.4.     Region of Global Precision Farming Software Market

2.    Executive Summary

2.1.  Global Precision Farming Software Market Industry Trends under COVID-19 Outbreak

2.1.1.     Global COVID-19 Status Overview

2.1.2.     Influence of COVID-19 Outbreak on Global Precision Farming Software Market Industry Development

2.2.  Market Dynamics

2.2.1.     Drivers

2.2.2.     Limitations

2.2.3.     Opportunities

2.2.4.     Impact Analysis of Drivers and Restraints

2.3.  Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.  Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.  Porter’s Five Forces Analysis

2.5.1.     Bargaining Power of Suppliers

2.5.2.     Bargaining Power of Buyers

2.5.3.     Threat of Substitutes

2.5.4.     Threat of New Entrants

2.5.5.     Competitive Rivalry

2.6.  Value Chain / Ecosystem Analysis

2.7.  PEST Analysis

2.8.  Russia-Ukraine War Impacts Analysis

2.9.  Economic Downturn Analysis

2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.    Global Precision Farming Software Market  Estimates & Historical Trend Analysis (2020 - 2022)

4.    Global Precision Farming Software Market  Estimates & Forecast Trend Analysis, By Delivery Model

4.1.  Global Precision Farming Software Market Revenue (US$ Mn) Estimates and Forecasts, By Delivery Model, 2023 to 2033

4.1.1.     Local or Web-Based

4.1.2.     Cloud-Based

4.1.3.     Software as a Service (SaaS)

4.1.4.     Platform as a service (PaaS)

5.    Global Precision Farming Software Market  Estimates & Forecast Trend Analysis, By Application

5.1.  Global Precision Farming Software Market Revenue (US$ Mn) Estimates and Forecasts, By Application, 2023 to 2033

5.1.1.     Yield Monitoring

5.1.2.     Field Monitoring

5.1.3.     Crop Scouting

5.1.4.     Weather Tracking and Forecasting

5.1.5.     Inventory Management

5.1.6.     Farm Labour Management

5.1.7.     Financial Management

5.1.8.     Others

6.    Global Precision Farming Software Market  Estimates & Forecast Trend Analysis, By Service Provider

6.1.  Global Precision Farming Software Market Revenue (US$ Mn) Estimates and Forecasts, By Service Provider, 2023 to 2033

6.1.1.     Systems Integrators

6.1.2.     Managed Services Providers

6.1.3.     Assisted Professional Services Providers

6.1.4.     Connectivity Services Providers

6.1.5.     Maintenance, Software Upgradation and Support Service Providers

6.1.6.     Others

7.    Global Precision Farming Software Market  Estimates & Forecast Trend Analysis, By Region

7.1.  Global Precision Farming Software Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023 to 2033

7.1.1. North America

7.1.2. Europe

7.1.3. Asia Pacific

7.1.4. Middle East & Africa

7.1.5. South America

8.    North America  Precision Farming Software Market: Estimates & Forecast Trend Analysis

8.1.  North America Precision Farming Software Market Assessments & Key Findings

8.1.1.     North America Precision Farming Software Market Introduction

8.1.2.     North America Precision Farming Software Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

8.1.2.1.  Based on Delivery Model

8.1.2.2.  Based On Application

8.1.2.3.  Based On Service Provider

8.1.2.4.  By Country

8.1.2.4.1.   The U.S.

8.1.2.4.2.   Canada

8.1.2.4.3.   Mexico

9.    Europe  Precision Farming Software Market: Estimates & Forecast Trend Analysis

9.1.  Europe Precision Farming Software Market Assessments & Key Findings

9.1.1.    Europe Precision Farming Software Market Introduction

9.1.2.    Europe Precision Farming Software Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

9.1.2.1.  Based on Delivery Model

9.1.2.2.  Based On Application

9.1.2.3.  Based On Service Provider

9.1.2.4.     By Country

9.1.2.4.1.   Germany

9.1.2.4.2.   U.K.

9.1.2.4.3.   France

9.1.2.4.4.   Italy

9.1.2.4.5.   Spain

9.1.2.4.6.   Russia

9.1.2.4.7.   Rest of Europe

10.  Asia Pacific  Precision Farming Software Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific Market Assessments & Key Findings

10.1.1.  Asia Pacific Precision Farming Software Market Introduction

10.1.2.  Asia Pacific Precision Farming Software Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

10.1.2.1.  Based on Delivery Model

10.1.2.2.  Based On Application

10.1.2.3.  Based On Service Provider

10.1.2.4.  By Country

10.1.2.4.1.          China

10.1.2.4.2.          Japan

10.1.2.4.3.          India

10.1.2.4.4.          Australia

10.1.2.4.5.          South Korea

10.1.2.4.6.          ASEAN

10.1.2.4.7.          Rest of Asia Pacific

11.  Middle East & Africa  Precision Farming Software Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa Market Assessments & Key Findings

11.1.1.  Middle East & Africa  Precision Farming Software Market Introduction

11.1.2.  Middle East & Africa   Precision Farming Software Market Size Estimates and Forecast (US$ Million)  (2023 to 2033)

11.1.2.1.  Based on Delivery Model

11.1.2.2.  Based On Application

11.1.2.3.  Based On Service Provider

11.1.2.4.  By Country

11.1.2.4.1.  U.A.E.

11.1.2.4.2.  Saudi Arabia

11.1.2.4.3.  Egypt

11.1.2.4.4.  South Africa

11.1.2.4.5.  Rest of Middle East & Africa

12.  South America  Precision Farming Software Market: Estimates & Forecast Trend Analysis

12.1. South America Market Assessments & Key Findings

12.1.1.  South America Precision Farming Software Market Introduction

12.1.2.  South America Precision Farming Software Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

12.1.2.1.  Based on Delivery Model

12.1.2.2.  Based On Application

12.1.2.3.  Based On Service Provider

12.1.2.4.  By Country

12.1.2.4.1.  Brazil

12.1.2.4.2.  Argentina

12.1.2.4.3.  Colombia

12.1.2.4.4.  Rest of South America

13.  Competition Landscape

13.1. Global Precision Farming Software Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2. Global Precision Farming Software Market Concentration & Company Market Shares (%) Analysis, 2022

14.  Company Profiles

14.1.    AG Leader Technology

14.1.1.    Company Overview & Key Stats

14.1.2.    Financial Performance & KPIs

14.1.3.    Product Portfolio

14.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.    AgJunction Inc.

14.3.    CropMetrics LLC

14.4.    Trimble Inc.

14.5.    AGCO Corporation

14.6.    Raven Industries Inc.

14.7.    Others**

15.  Research Methodology

15.1. External Transportations / Databases

15.2. Internal Proprietary Database

15.3. Primary Research

15.4. Secondary Research

15.5. Assumptions

15.6. Limitations

15.7. Report FAQs

16.  Research Findings & Conclusion

 

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Sample Request Customized Requirement Speak to Analyst Check Discount
CHOOSE LICENSE TYPE
QLOUD
Pricing

Select a license type that suits your business needs

Single User Access

US $3499

Only Three Thousand Four Hundred Ninety Nine US dollar

Buy Now
  • 1 User access
  • 15% Additional Free Customization
  • Free Unlimited post-sale support
  • 100% Service Guarantee until achievement of ROI
Multi User Cost

US $4499

Only Four Thousand Four Hundred Ninety Nine US dollar

Buy Now
  • 5 Users access
  • 25% Additional Free Customization
  • Access Report summaries for Free
  • Guaranteed service
  • Dedicated Account Manager
  • Discount of 20% on next purchase
  • Get personalized market brief from Lead Author
  • Printing of Report permitted
  • Discount of 20% on next purchase
  • 100% Service Guarantee until achievement of ROI
Enterprise User Cost

US $5499

Only Five Thousand Four Hundred Ninety Nine US dollar

Buy Now
  • Unlimited User Access
  • 30% Additional Free Customization
  • Exclusive Previews to latest or upcoming reports
  • Discount of 30% on next purchase
  • 100% Service Guarantee until achievement of ROI