Latin America Precision Farming Market Size & Outlook
Latin America precision farming market, 2018-2030 (US$M)
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Latin America precision farming market highlights
- The Latin America precision farming market generated a revenue of USD 1,097.7 million in 2023.
- The market is expected to grow at a CAGR of 12.3% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating offering in 2023.
- Software is the most lucrative offering segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,097.7 million |
| Market revenue in 2030 | USD 2,479.9 million |
| Growth rate | 12.3% (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 |
| Key market players worldwide | Agilent Technologies Inc, Aegon Ltd, Trimble Inc, AGCO Corp, CNH Industrial NV, CropX, Deere & Co, Topcon Corp, AgriFORCE Growing Systems Ltd, Fairfax Financial Holdings Ltd Shs Subord.Vtg, US Global Investors Inc Class A, System1 Inc, Monsanto |
Other key industry trends
- In terms of revenue, Latin America region accounted for 10.5% of the global precision farming market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,770.4 million by 2030.
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Precision Farming Market Scope
Precision Farming Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 77.23% in 2023. Horizon Databook has segmented the Latin America precision farming market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The precision farming market growth in the South America is driven by favorable investments and initiatives by industry participants across Brazil, Chile, and Peru. For instance, in September 2019, SGS SA launched its precision farming and fertility management services across Mexico.
The technology and solutions in precision farming are based on the SGS digital IoT platform Precision Gateway. Similarly, in March 2020, HELM (Germany) launched SKYFLD digital agriculture platform at Expoagro, Argentina.
The SKYFLD is an innovative digital agriculture tool that allows monitoring crops using biomass maps. Such proactive investments and launches will propel market opportunities for regional precision farming solution providers.
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Target buyers of Latin America 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 continent-level data and insights on the Latin America precision farming market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America precision farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America precision farming market size, by country, 2018-2030 (US$M)
Latin America Precision Farming Market Outlook Share, 2023 & 2030 (US$M)
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