Market Overview: Precision Agriculture Market FY2024-2030
This reports provides an essential and dependable overview of the Precision Agriculture Market, serving as a guide for stakeholders navigating the industry's future trajectory. It covers critical aspects, guiding through challenges and opportunities, shedding light on the market landscape, key insights, driving forces, major competitors, regulatory framework, potential growth, ongoing trends, supply chain dynamics, evolving policies, segments and prominent players.
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Precision Agriculture Market Report Coverage Details:
- Base Year: 2023
- Historical Data: 2019-22
- Forecast Period: 2024-2030
- CAGR: 13% (2024-2030)
The Global Precision Agriculture Market size was valued at around USD 10.43 billion in 2023 and is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2024-30.
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Precision Agriculture Market Trend:
Increasing Adoption of Blockchain for Traceability – A substantial recent development in the precision agriculture industry is the increasing adoption of blockchain for traceability. The need for openness in the food supply chain is increasing as end-users are more concerned about food safety, quality, and the adverse effects of agricultural practices on the environment. The adoption of blockchain technology ensures a secure & effective ledger that tracks the direction of agricultural products from farm to fork. Blockchain increases confidence between customers, producers, and merchants by logging every transaction and movement of items on a decentralized network, guaranteeing data accuracy and impervious to tampering. Stakeholders can monitor manufacturing procedures, confirm product provenance, and guarantee standard compliance due to this traceability.
Blockchain can also lessen fraudulent activities, expedite recall tactics, and enhance supply chain control effectiveness. Due to all these positive outcomes of blockchain technology, this technology is becoming more significant in the changing market landscape. As the adoption of blockchain technology enhances accountability and transparency in agricultural practices, it is anticipated to augment the growth of the Global Precision Agriculture Market during the forecast period.
Precision Agriculture Market Segmentation Analysis – FY2024-2030
Discover a comprehensive evaluation of every segment and its subdivisions, allowing our clients to gain a deep understanding of the Precision Agriculture Market (2024-2030). We prioritize uncovering the pivotal factors that presently drive and will shape the industry's growth moving forward. Our goal is to empower our esteemed clients by optimizing their end-user positioning and revenue generation through a thorough analysis of market size, share and all the latest market scope across diverse segmentation categories.
The Precision Agriculture Market segmentation is enlisted below:
By Offering
- Hardware
- Automation and Control System
- GPS/GNSS System
- Guidance and Steering System
- Flow and Application Rate Control Solutions
- Handheld Computers/ Mobile devices
- Agriculture Cameras
- Others
- Sensing and Monitoring
- Yield Monitors
- Sensing Systems
- Other Hardware
- Automation and Control System
- Software
- Services
- Integration and Deployment
- Maintenance and Repair
- Other Services
By Application
- Precision Irrigation
- Field Monitoring
- Precision Spraying
- Precision Fertilization
- Precision Planting
- Data Management
- Other Applications
By Agricultural Produce
- Cereals
- Oil Crops
- Roots, Tuber, and Plantains
- Industrial Crops
- Fruits
- Vegetables
- Nuts
- Others
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By Technology
- Guidance System
- Variable Rate Technology (VRT)
- Remote Sensing
- Data Analytics
By Region
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia-Pacific
Precision Agriculture Market Competitive Landscape
Deere & Company, CropMetrics LLC, Trimble Navigation Limited, Ag Leader Technology, AgJunction, Inc., AgEagle Aerial Systems Inc. (Agribotix LLC), DICKEY-john Corporation, Farmers Edge Inc., Grownetics, Inc., Granular, Inc.
Precision Agriculture Industry News:
- In May 2024: The National Sorghum Producers (NSP) and Farmers Edge, a pure-play digital ag firm, are thrilled to announce a new strategic relationship intended to improve sustainable farming practices for sorghum producers.
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Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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