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
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