Middle East & Africa Precision Farming Market Size & Outlook
Middle East & Africa precision farming market, 2018-2030 (US$M)
Related Markets
MEA precision farming market highlights
- The MEA precision farming market generated a revenue of USD 392.7 million in 2023.
- The market is expected to grow at a CAGR of 10.6% 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.
MEA data book summary
| Market revenue in 2023 | USD 392.7 million |
| Market revenue in 2030 | USD 792.6 million |
| Growth rate | 10.6% (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 |
| 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, MEA region accounted for 3.7% 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 |
|---|
Middle East & Africa 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 87.42% in 2023. Horizon Databook has segmented the Middle East & Africa precision farming market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
According to Start-Up Nation Central (SNC), an Israeli NGO, Israel’s agritech sector investment reached USD 97 million in 2017. The sectors that drive the agritech market in Israel are smart farming and ag biotech. The players operating in the region are majorly focusing on modifying traditional breeding methods and deriving new genetic analysis.
The reason for the growth of the agritech sector in Israel is the constant government support and the STEM education program in the country. With a significant pool of affordable and highly skilled labor force, the region has always handled its own agricultural challenges and has created a large export industry.
The growing penetration of tech-enabled and climate-controlled greenhouse farming in the United Arab Emirates (UAE) and the Gulf Corporation Council countries (GCC) i s expected to drive the market demand over the forecast period. The need for adopting such a method stems from the lack of food security in the UAE and the GCC countries.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa precision farming market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa precision farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa precision farming market
Middle East & Africa Precision Farming Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa precision farming market
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