North America Precision Farming Market Size & Outlook
North America precision farming market, 2018-2030 (US$M)
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North America precision farming market highlights
- The North America precision farming market generated a revenue of USD 4,595.3 million in 2023.
- The market is expected to grow at a CAGR of 11% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 4,595.3 million |
| Market revenue in 2030 | USD 9,542.2 million |
| Growth rate | 11% (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, North America region accounted for 43.8% 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 |
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North 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 60.61% in 2023. Horizon Databook has segmented the North America precision farming market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Guidance system had the highest adoption rate in the U.S. in 2021 as it used in about half of the land used for growing crops such as rice, peanuts, and corn. However, GPS soil mapping and VRT lagged in terms of adoption rate in the U.S.
The adoption of VRT requires specialized machinery with automated control for input flow rate that is to be integrated with the seeding equipment. This has made the adoption of VRT harder in-order plant crops. Given its natural resources, Canada has always been strong in the agricultural sector.
The Canadian government generally focuses more on investing in R&D for agriculture as compared to the U.S. This has resulted in the establishment of an extensive network of research centers and universities involved in producing agtech research in Canada. Since government funding focuses mainly on start-ups and research, many of the projects remain underfunded as a majority of investors favor well-established companies.
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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 North America precision farming market , including forecasts for subscribers. This continent databook contains high-level insights into North America precision farming market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America precision farming market size, by country, 2018-2030 (US$M)
North America Precision Farming Market Outlook Share, 2023 & 2030 (US$M)
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