Global Precision Farming Market Size & Outlook, 2023-2030
Global precision farming market, 2018-2030 (US$M)
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Global precision farming market highlights
- The global precision farming market generated a revenue of USD 10,496.8 million in 2023 and is expected to reach USD 24,086.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 12.6% by 2030.
- In terms of segment, hardware accounted for a revenue of USD 7,021.7 million in 2023.
- Software is the most lucrative offering segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 10,496.8 million |
| Market revenue in 2030 | USD 24,086.3 million |
| Growth rate | 12.6% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
Other key industry trends
- In terms of revenue, the North America accounted for 43.8% of the global precision farming market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 4,865.9 million by 2030.
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Precision Farming Market Scope
Precision Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global precision farming market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision farming market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 66.89% in 2023. Horizon Databook has segmented the Global precision farming market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Precision Farming Offering Outlook (Revenue, USD Million, 2018-2030)
- Hardware
- Automation & control system
- Drones
- Application control devices
- Guidance system
- GPS
- GIS
- Remote sensing
- Hand held
- Satellite sensing
- Driverless tractors
- Mobile devices
- VRT
- Map-based
- Sensor-based
- Wireless module
- Bluetooth technology
- Wi-Fi technology
- Zigbee
- RF technology
- Sensing devices
- Soil sensors
- Nutrient sensor
- Moisture sensor
- Temperatuer sensor
- Water sensors
- Climate sensors
- Others
- Soil sensors
- Antennas/access points
- Automation & control system
- Software
- Web-based
- Cloud based
- Services
- System integration & consulting
- Maintenance & support
- Managed services
- Data servcies
- Analytic services
- Farm operation services
- Assisted professional servcies
- Supply chain management services
- Climate information services
- Hardware
- Global Precision Farming Application Outlook (Revenue, USD Million, 2018-2030)
- Yield monitoring
- On-Farm
- Off-Farm
- Field mapping
- Crop scouting
- Weather tracking & forecasting
- Irrigation management
- Inventory management
- Farm labor management
- Yield monitoring
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Target buyers of Global precision farming market databook
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Our clientele includes a mix of precision farming market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global precision farming market , including forecasts for subscribers. This global databook contains high-level insights into Global precision farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global precision farming market size, by regions, 2018-2030 (US$M)
Top 10 countries: Precision farming market size, 2023 (US$M)
Global precision farming market share, by offering, 2023 & 2030 (%, US$M)
Precision farming market: Opportunity assessment by country
Global precision farming market, by region, 2023 (US$M)
| Offering | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,063.1 | 3,305.5 | 3,557.7 | 3,862.2 | 4,204.3 | 4,595.3 | 5,038.9 | 5,547.5 | 6,133.0 | 6,808.9 | 7,592.6 | 8,495.8 | 9,542.2 | 11.0% |
| Europe | 1,547.4 | 1,711.1 | 1,887.2 | 2,099.4 | 2,342.5 | 2,624.7 | 2,950.4 | 3,330.3 | 3,775.0 | 4,297.6 | 4,914.6 | 5,641.9 | 6,501.2 | 13.8% |
| Asia Pacific | 990.7 | 1,109.6 | 1,239.3 | 1,395.4 | 1,575.9 | 1,786.5 | 2,031.3 | 2,318.6 | 2,657.1 | 3,057.4 | 3,532.9 | 4,098.1 | 4,770.4 | 15.1% |
| Latin America | 693.0 | 755.8 | 822.1 | 902.2 | 993.1 | 1,097.7 | 1,217.5 | 1,356.1 | 1,517.0 | 1,704.5 | 1,924.1 | 2,180.1 | 2,479.9 | 12.4% |
| MEA | 265.9 | 286.2 | 307.0 | 332.2 | 360.5 | 392.7 | 429.1 | 470.7 | 518.3 | 573.1 | 636.2 | 708.9 | 792.6 | 10.6% |
| Overall | 6,560.2 | 7,168.1 | 7,813.4 | 8,591.4 | 9,476.4 | 10,496.9 | 11,667.3 | 13,023.1 | 14,600.4 | 16,441.5 | 18,600.5 | 21,124.8 | 24,086.3 | 12.6% |
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