1	INTRODUCTION	31
1.1	STUDY OBJECTIVES	31
1.2	MARKET DEFINITION	31
1.3	MARKET SCOPE	32
1.3.1	MARKETS COVERED	32
FIGURE 1	PRECISION FARMING MARKET: SEGMENTATION	32
1.3.2	REGIONAL SCOPE	33
1.3.3	INCLUSIONS AND EXCLUSIONS	33
1.3.4	YEARS CONSIDERED	34
1.4	CURRENCY CONSIDERED	34
1.5	STAKEHOLDERS	34
1.6	SUMMARY OF CHANGES	35
1.7	RECESSION IMPACT	36
2	RESEARCH METHODOLOGY	37
2.1	RESEARCH DATA	37
FIGURE 2	PRECISION FARMING MARKET: RESEARCH DESIGN	37
2.1.1	SECONDARY DATA	38
2.1.1.1	Secondary sources	38
2.1.2	PRIMARY DATA	39
2.1.2.1	Primary interviews with experts	39
2.1.2.2	Breakdown of primary interviews	39
2.1.2.3	Key data from primary sources	40
2.1.2.4	Key industry insights	40
2.2	MARKET SIZE ESTIMATION	41
FIGURE 3	PROCESS FLOW OF MARKET SIZE ESTIMATION	41
2.2.1	TOP-DOWN APPROACH	41
2.2.1.1	Approach to capture market size by top-down analysis (supply side)	42
FIGURE 5	TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY APPROACH 1 (SUPPLY SIDE)	43
FIGURE 6	TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY APPROACH 2 (SUPPLY SIDE)	43
2.2.2	BOTTOM-UP APPROACH	44
2.2.2.1	Approach to capture market size by bottom-up analysis
(demand side)	44
FIGURE 8	MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 – DEMAND SIDE	45
2.3	GROWTH FORECAST	45
2.4	DATA TRIANGULATION	46
FIGURE 9	DATA TRIANGULATION METHODOLOGY	47
2.5	RESEARCH ASSUMPTIONS	48
TABLE 1	ASSUMPTIONS FOR RESEARCH STUDY	48
2.6	RESEARCH LIMITATIONS	48
2.7	RISK FACTORS	49
FIGURE 10	RISK ASSESSMENT	49
3	EXECUTIVE SUMMARY	51
FIGURE 11	PRECISION FARMING MARKET, 2019–2031 (USD MILLION)	51
FIGURE 12	HARDWARE SEGMENT TO HOLD LARGEST SHARE OF PRECISION FARMING MARKET, BY OFFERING, DURING FORECAST PERIOD	52
FIGURE 13	GUIDANCE TECHNOLOGY TO CLAIM LARGEST MARKET SHARE DURING FORECAST PERIOD	52
FIGURE 14	YIELD MONITORING APPLICATION TO SECURE LARGEST MARKET SHARE DURING FORECAST PERIOD	53
FIGURE 15	ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN GLOBAL PRECISION FARMING MARKET DURING FORECAST PERIOD	54
4	PREMIUM INSIGHTS	55
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PRECISION FARMING MARKET	55
FIGURE 16	RISING PREFERENCE FOR PRECISION FARMING AMONG FARMERS/GROWERS TO OFFER GROWTH OPPORTUNITIES FOR MARKET PLAYERS	55
4.2	PRECISION FARMING MARKET, BY OFFERING	55
FIGURE 17	HARDWARE SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD	55
4.3	PRECISION FARMING MARKET, BY APPLICATION	56
FIGURE 18	YIELD MONITORING SEGMENT TO HOLD LARGEST MARKET SHARE IN 2031	56
4.4	PRECISION FARMING MARKET, BY TECHNOLOGY	56
FIGURE 19	GUIDANCE TECHNOLOGY SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD	56
4.5	COUNTRY-WISE PRECISION FARMING MARKET GROWTH	57
FIGURE 20	AMERICAS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD	57
5	MARKET OVERVIEW	58
5.1	INTRODUCTION	58
5.2	MARKET DYNAMICS	58
FIGURE 21	DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	58
5.2.1	DRIVERS	59
5.2.1.1	Rapid adoption of advanced technologies in precision farming to reduce cost	59
5.2.1.2	Increased adoption of IoT devices in agricultural applications	59
5.2.1.3	High pressure on governments and farmers to meet surging demand for food	60
5.2.1.4	Integration of precision farming technologies into existing farm machinery	60
FIGURE 22	DRIVERS: PRECISION FARMING MARKET	61
5.2.2	RESTRAINTS	61
5.2.2.1	High costs of precision farming equipment	61
5.2.2.2	Small size of landholdings and limited availability of skilled workforce	61
FIGURE 23	RESTRAINTS: PRECISION FARMING MARKET	62
5.2.3	OPPORTUNITIES	62
5.2.3.1	Adoption of data analytics in agriculture sector	62
5.2.3.2	Emergence of multiple user-friendly smartphone applications for farmers	63
5.2.3.3	Rising use of AI-based solutions in precision farming	63
5.2.3.4	Adoption of digital technologies in sustainable farming	63
FIGURE 24	OPPORTUNITIES: PRECISION FARMING MARKET	64
5.2.4	CHALLENGES	64
5.2.4.1	Difficulties in collecting and analyzing data from multiple farms	64
5.2.4.2	Lack of standardized protocols and technologies	64
5.2.4.3	Data privacy issues and security concerns	65
5.2.4.4	Lesser reliability of internet connectivity and infrastructure for precision farming	65
FIGURE 25	CHALLENGES: PRECISION FARMING MARKET	66
5.3	VALUE CHAIN ANALYSIS	66
FIGURE 26	PRECISION FARMING MARKET: VALUE CHAIN ANALYSIS	67
5.4	ECOSYSTEM MAPPING	68
TABLE 2	ROLE OF KEY PLAYERS IN PRECISION FARMING ECOSYSTEM	68
FIGURE 27	KEY PLAYERS IN PRECISION FARMING ECOSYSTEM	69
5.5	PRICING ANALYSIS	70
FIGURE 28	PRICING ANALYSIS OF PRECISION FARMING	70
5.6	TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS	71
FIGURE 29	REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN PRECISION FARMING MARKET	72
5.7	TECHNOLOGY ANALYSIS	72
5.7.1	ARTIFICIAL INTELLIGENCE	72
5.7.2	IOT	73
5.7.3	AGRICULTURAL DRONES/UNMANNED AERIAL VEHICLES (UAVS)	73
5.7.4	BLOCKCHAIN TECHNOLOGY	73
5.7.5	AUTONOMOUS FARM MACHINERY	74
5.8	CASE STUDY ANALYSIS	74
5.8.1	ACCENTURE HELPS PROAGRICA GATHER CRITICAL AGRICULTURAL DATA INSIGHTS	74
5.8.2	AGCO HELPS FARMERS REDUCE INPUT COSTS AND ENHANCE REVENUE BY INTEGRATING FARMING EQUIPMENT INTO SINGLE PLATFORM	75
5.8.3	AGJUNCTION HELPS EFARMERS DEVELOP AFFORDABLE AUTOSTEER	75
5.9	PORTER’S FIVE FORCE ANALYSIS	76
TABLE 3	PORTER’S FIVE FORCES IMPACT ON PRECISION FARMING MARKET	76
FIGURE 30	PRECISION FARMING MARKET: PORTER’S FIVE FORCES ANALYSIS	77
5.9.1	INTENSITY OF COMPETITIVE RIVALRY	77
5.9.2	THREAT OF SUBSTITUTES	78
5.9.3	BARGAINING POWER OF BUYERS	78
5.9.4	BARGAINING POWER OF SUPPLIERS	79
5.9.5	THREAT OF NEW ENTRANTS	79
5.10	KEY STAKEHOLDERS AND BUYING CRITERIA	80
5.10.1	KEY STAKEHOLDERS IN BUYING PROCESS	80
FIGURE 31	INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END USERS	80
TABLE 4	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS	80
5.10.2	BUYING CRITERIA	81
FIGURE 32	KEY BUYING CRITERIA FOR TOP THREE END USERS	81
TABLE 5	KEY BUYING CRITERIA, BY END USERS	81
5.11	TRADE ANALYSIS	82
5.11.1	IMPORT DATA	82
FIGURE 33	IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)	82
TABLE 6	IMPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)	82
5.11.2	EXPORT DATA	83
FIGURE 34	EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)	83
TABLE 7	EXPORT DATA FOR PRODUCTS COVERED UNDER HS CODE 8433, BY COUNTRY, 2018–2022 (USD MILLION)	83
5.12	PATENT ANALYSIS	84
TABLE 8	PRECISION FARMING MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023	84
TABLE 9	TOP 20 US PATENT OWNERS IN LAST 10 YEARS, 2013–2022	88
FIGURE 35	TOP 10 COMPANIES WITH LARGEST NUMBER OF PATENT APPLICATIONS FOR PRECISION FARMING, (2013–2022)	89
FIGURE 36	NUMBER OF PATENTS GRANTED FROM 2013–2022	89
5.13	KEY CONFERENCES AND EVENTS, 2023–2024	90
5.14	REGULATORY LANDSCAPE	91
5.14.1	CARBON POLICY TRENDS IN AGRICULTURE	91
5.14.2	GROWING CLIMATE SOLUTIONS ACT	91
5.14.3	REGULATIONS IN PRECISION FARMING AND SMART GREENHOUSES	91
TABLE 10	REGULATIONS: PRECISION FARMING AND SMART GREENHOUSES	91
5.14.4	NORTH AMERICA	92
5.14.5	EUROPE	93
5.14.6	ASIA PACIFIC	94
5.14.6.1	China	94
5.14.6.2	India	96
 
TABLE 11	AGRICULTURE SUBSIDIES FOR INDIAN FARMERS FROM CENTRAL AND STATE GOVERNMENTS (USD BILLION)	97
5.14.6.3	Greenhouse farming subsidy in India	99
5.14.7	REST OF THE WORLD	101
6	PRECISION FARMING MARKET, BY OFFERING	102
6.1	INTRODUCTION	103
TABLE 12	PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	103
FIGURE 37	SERVICES SEGMENT TO RECORD HIGHEST CAGR IN PRECISION FARMING MARKET DURING FORECAST PERIOD	103
TABLE 13	PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	104
6.2	HARDWARE	104
TABLE 14	PRECISION FARMING MARKET, BY HARDWARE, 2019–2022 (USD MILLION)	104
TABLE 15	PRECISION FARMING MARKET, BY HARDWARE, 2023–2031 (USD MILLION)	104
TABLE 16	HARDWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	105
TABLE 17	HARDWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	105
TABLE 18	HARDWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	105
TABLE 19	HARDWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	106
6.2.1	AUTOMATION AND CONTROL SYSTEMS	106
TABLE 20	AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)	106
TABLE 21	AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)	107
TABLE 22	AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	107
TABLE 23	AUTOMATION AND CONTROL SYSTEMS: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	108
6.2.1.1	Displays	108
6.2.1.1.1	Ability to present complex data in user-friendly manner to boost demand	108
6.2.1.2	Guidance and steering systems	109
6.2.1.2.1	Strong focus on reducing fuel consumption and enhancing resource efficiency to drive market	109
6.2.1.3	GPS/GNSS devices	109
6.2.1.3.1	Rising use of GPS/GNSS devices in variable rate applications to drive market	109
6.2.1.4	Drones/UAVs	110
6.2.1.4.1	Increasing adoption of drones in identifying pests and weeds to fuel market growth	110
TABLE 24	DRONES/UAVS: PRECISION FARMING MARKET, BY VOLUME, 2019–2022 (MILLION UNITS)	111
TABLE 25	DRONES/UAVS: PRECISION FARMING MARKET, BY VOLUME, 2023–2031 (MILLION UNITS)	111
6.2.1.5	Irrigation controllers	111
6.2.1.5.1	Pressing need for efficient water management to drive market	111
6.2.1.6	Handheld mobile devices/handheld computers	112
6.2.1.6.1	Operational flexibility and ease of operation to foster segmental growth	112
6.2.1.7	Flow and application control devices	112
6.2.1.7.1	Rising focus of farmers on optimal resource management to contribute to market growth	112
6.2.1.8	Others	113
6.2.2	SENSING AND MONITORING DEVICES	113
TABLE 26	SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION)	113
TABLE 27	SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY DEVICE TYPE, 2023–2031 (USD MILLION)	114
TABLE 28	SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	114
TABLE 29	SENSING AND MONITORING DEVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	114
6.2.2.1	Yield monitors	115
6.2.2.1.1	High emphasis on improving profitability and sustainable farming practices to drive market	115
6.2.2.2	Soil sensors	115
6.2.2.2.1	Potential to provide real-time soil information for analysis to fuel demand	115
TABLE 30	SOIL SENSORS: PRECISION FARMING MARKET, BY SENSOR TYPE, 2019–2022 (USD MILLION)	116
TABLE 31	SOIL SENSORS: PRECISION FARMING MARKET, BY SENSOR TYPE, 2023–2031 (USD MILLION)	116
6.2.2.2.2	Moisture sensors	116
6.2.2.2.3	Temperature sensors	117
6.2.2.2.4	Nutrient sensors	117
6.2.2.3	Water sensors	118
6.2.2.3.1	Contribution to optimized water management and reduced resource wastage to drive market	118
6.2.2.4	Climate sensors	118
6.2.2.4.1	Uncertainties related to weather and climate predictions to boost demand	118
6.3	SOFTWARE	118
TABLE 32	SOFTWARE: PRECISION FARMING MARKET, BY DEPLOYMENT TYPE, 2019–2022 (USD MILLION)	119
TABLE 33	SOFTWARE: PRECISION FARMING MARKET, BY DEPLOYMENT TYPE, 2023–2031 (USD MILLION)	119
TABLE 34	SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	120
TABLE 35	SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	120
TABLE 36	SOFTWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	120
TABLE 37	SOFTWARE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	121
6.3.1	LOCAL/WEB-BASED SOFTWARE	121
6.3.1.1	Easy accessibility of web-based delivery model to drive market	121
TABLE 38	LOCAL/WEB-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	122
TABLE 39	LOCAL/WEB-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	122
6.3.2	CLOUD-BASED SOFTWARE	122
6.3.2.1	Growing popularity of software-as-a-service model to fuel demand for cloud technology	122
TABLE 40	CLOUD-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	123
TABLE 41	CLOUD-BASED SOFTWARE: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	123
6.4	SERVICES	124
TABLE 42	SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)	124
TABLE 43	SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)	124
TABLE 44	SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	124
TABLE 45	SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	125
TABLE 46	SERVICES: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	125
TABLE 47	SERVICES: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	125
6.4.1	SYSTEM INTEGRATION AND CONSULTING SERVICES	126
6.4.1.1	Contribution to improved resource management and sustainable agriculture practices to drive market	126
TABLE 48	SYSTEM INTEGRATION AND CONSULTING SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	126
TABLE 49	SYSTEM INTEGRATION AND CONSULTING SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	126
6.4.2	MANAGED SERVICES	127
6.4.2.1	Increasing demand for cloud-based software and platforms to contribute to market growth	127
TABLE 50	MANAGED SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)	127
TABLE 51	MANAGED SERVICES: PRECISION FARMING MARKET, BY SERVICE TYPE, 2023–2031 (USD MILLION)	127
TABLE 52	MANAGED SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	128
TABLE 53	MANAGED SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	128
6.4.2.2	Farm operation services	128
6.4.2.3	Data services	129
6.4.2.4	Analytics services	129
6.4.3	CONNECTIVITY SERVICES	130
6.4.3.1	Ability to control precision farming technologies from centralized location to drive market	130
TABLE 54	CONNECTIVITY SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	130
TABLE 55	CONNECTIVITY SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	130
6.4.4	ASSISTED PROFESSIONAL SERVICES	131
6.4.4.1	Significant focus on amplifying crop yields with optimized resource to create demand	131
TABLE 56	ASSISTED PROFESSIONAL SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	131
TABLE 57	ASSISTED PROFESSIONAL SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	131
6.4.4.2	Supply chain management services	131
6.4.4.3	Climate information services	132
6.4.4.4	Other assisted professional services	132
6.4.5	MAINTENANCE AND SUPPORT SERVICES	133
6.4.5.1	Increased operational efficiency and reduced disruptions to drive market	133
TABLE 58	MAINTENANCE AND SUPPORT SERVICES: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	134
TABLE 59	MAINTENANCE AND SUPPORT SERVICES: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	134
7	PRECISION FARMING MARKET, BY TECHNOLOGY	135
7.1	INTRODUCTION	136
TABLE 60	PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	136
FIGURE 38	VARIABLE RATE TECHNOLOGY TO EXHIBIT HIGHEST CAGR IN PRECISION FARMING MARKET DURING FORECAST PERIOD	136
TABLE 61	PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	137
7.2	GUIDANCE TECHNOLOGY	137
7.2.1	ABILITY TO COLLECT VITAL INFORMATION DURING OPERATIONS TO RESULT IN HIGH ADOPTION	137
TABLE 62	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	138
TABLE 63	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	138
TABLE 64	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	138
TABLE 65	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	139
TABLE 66	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	139
TABLE 67	GUIDANCE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	139
7.2.2	GPS/GNSS-BASED GUIDANCE TECHNOLOGY	139
7.2.2.1	Growing requirement for high-precision field maps and geospatial databases to facilitate market growth	139
7.2.3	GIS-BASED GUIDANCE TECHNOLOGY	140
7.2.3.1	Integration of spatial data sources such as satellite imagery into farming tools to drive market	140
7.3	REMOTE SENSING TECHNOLOGY	141
7.3.1	SURGING DEMAND FOR COMPREHENSIVE REMOTE DATA COLLECTION TO BOOST DEMAND	141
TABLE 68	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	142
TABLE 69	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	143
TABLE 70	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	143
TABLE 71	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	143
TABLE 72	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	143
TABLE 73	REMOTE SENSING TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	144
7.3.2	HANDHELD OR GROUND-BASED SENSING	144
7.3.2.1	High convenience of handheld sensors to boost demand	144
7.3.3	SATELLITE OR AERIAL SENSING	145
7.3.3.1	Increased need for data-rich insights to drive market	145
TABLE 74	TYPES OF SATELLITE REMOTE SENSING IMAGE RESOLUTION	146
7.4	VARIABLE RATE TECHNOLOGY	146
7.4.1	AMPLIFIED YIELD POTENTIAL AND MINIMIZED ENVIRONMENTAL IMPACT TO DRIVE MARKET	146
TABLE 75	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	147
TABLE 76	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	147
TABLE 77	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	148
TABLE 78	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	148
TABLE 79	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	148
TABLE 80	VARIABLE RATE TECHNOLOGY: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	148
7.4.2	MAP-BASED	149
7.4.2.1	Enhanced decision-making with data-driven insights to boost demand	149
7.4.3	SENSOR-BASED	149
7.4.3.1	Integration of sensor-powered IoT and AI solutions to drive market	149
8	PRECISION FARMING MARKET, BY APPLICATION	151
8.1	INTRODUCTION	152
TABLE 81	PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	152
FIGURE 39	WEATHER TRACKING AND FORECASTING APPLICATIONS TO RECORD HIGHEST CAGR FROM 2023 TO 2031	153
TABLE 82	PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)	153
8.2	YIELD MONITORING	154
8.2.1	INCREASING DEMAND FOR REAL-TIME DATA ON YIELDS AND HARVESTED CROPS TO STRENGTHEN SEGMENTAL GROWTH	154
TABLE 83	BENEFITS OF YIELD MONITORING	154
TABLE 84	YIELD MONITORING: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	155
TABLE 85	YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	156
TABLE 86	YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	156
TABLE 87	YIELD MONITORING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	156
8.2.2	ON-FARM YIELD MONITORING	156
8.2.3	OFF-FARM YIELD MONITORING	157
8.3	CROP SCOUTING	158
8.3.1	RISING NEED TO MANAGE CROPS EFFECTIVELY TO BOOST DEMAND	158
TABLE 88	CROP SCOUTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	158
TABLE 89	CROP SCOUTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	159
8.3.2	PRE-SEEDING CROP SCOUTING	159
8.3.3	POST-SEEDING CROP SCOUTING	159
8.3.4	CROP MONITORING	159
8.4	FIELD MAPPING	160
8.4.1	INCREASING DEMAND FOR SOIL IDENTIFICATION TO SUPPORT MARKET GROWTH	160
TABLE 90	FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	160
TABLE 91	FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	161
TABLE 92	FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	161
TABLE 93	FIELD MAPPING APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	161
8.4.2	BOUNDARY MAPPING	161
8.4.3	DRAINAGE MAPPING	162
 
8.5	VARIABLE RATE APPLICATION	162
8.5.1	GROWING NEED FOR COST AND RESOURCE EFFICIENCY TO BOOST DEMAND	162
TABLE 94	VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	163
TABLE 95	VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	163
TABLE 96	VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2019–2022 (USD MILLION)	163
TABLE 97	VARIABLE RATE APPLICATION: PRECISION FARMING MARKET, BY TYPE, 2023–2031 (USD MILLION)	164
8.5.2	PRECISION IRRIGATION	164
8.5.3	PRECISION SEEDING	164
8.5.4	PRECISION FERTILIZATION	164
8.5.4.1	Nitrogen VRA	165
8.5.4.2	Phosphorous VRA	166
8.5.4.3	Lime VRA	166
8.5.5	OTHER VARIABLE RATE APPLICATIONS	166
8.6	WEATHER TRACKING AND FORECASTING	167
8.6.1	INCREASING CLIMATE VARIABILITY TO DRIVE MARKET	167
TABLE 98	WEATHER TRACKING AND FORECASTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	168
TABLE 99	WEATHER TRACKING AND FORECASTING APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	168
8.7	INVENTORY MANAGEMENT	168
8.7.1	GROWING DEMAND FOR GPS FOR INVENTORY MANAGEMENT TO PROPEL MARKET	168
TABLE 100	INVENTORY MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	169
TABLE 101	INVENTORY MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	169
8.8	FARM LABOR MANAGEMENT	169
8.8.1	INCREASING NEED FOR EFFECTIVE HANDLING OF LABOR TO DRIVE DEMAND	169
TABLE 102	FARM LABOR MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	170
TABLE 103	FARM LABOR MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	171
8.9	FINANCIAL MANAGEMENT	171
8.9.1	RISING USE OF FINANCIAL MANAGEMENT SOLUTIONS BY FARMERS OR GROWERS TO MAKE STRATEGIC DECISIONS TO DRIVE MARKET	171
TABLE 104	FINANCIAL MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	172
TABLE 105	FINANCIAL MANAGEMENT APPLICATION: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	172
 
8.10	OTHERS	172
TABLE 106	OTHERS: PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	173
TABLE 107	OTHERS: PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	173
9	PRECISION FARMING MARKET, BY REGION	174
9.1	INTRODUCTION	175
TABLE 108	PRECISION FARMING MARKET, BY REGION, 2019–2022 (USD MILLION)	175
FIGURE 40	ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	175
TABLE 109	PRECISION FARMING MARKET, BY REGION, 2023–2031 (USD MILLION)	176
9.2	AMERICAS	177
9.2.1	IMPACT OF RECESSION ON MARKET IN AMERICAS	177
FIGURE 41	AMERICAS: PRECISION FARMING MARKET SNAPSHOT	178
TABLE 110	AMERICAS: PRECISION FARMING MARKET, 2019–2022 (USD MILLION)	178
TABLE 111	AMERICAS: PRECISION FARMING MARKET, 2023–2031 (USD MILLION)	179
TABLE 112	AMERICAS: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	179
TABLE 113	AMERICAS: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	179
TABLE 114	AMERICAS: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	179
TABLE 115	AMERICAS: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)	180
TABLE 116	AMERICAS: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	180
TABLE 117	AMERICAS: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	180
9.2.2	NORTH AMERICA	181
TABLE 118	NORTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	181
TABLE 119	NORTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)	181
9.2.2.1	US	182
9.2.2.1.1	Presence of established players in country to boost market	182
9.2.2.2	Canada	182
9.2.2.2.1	Favorable government initiatives to promote innovative agriculture activities to drive market	182
9.2.2.3	Mexico	183
9.2.2.3.1	Growing collaborations among players and supportive government initiatives to fuel market	183
9.2.3	SOUTH AMERICA	184
TABLE 120	SOUTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	184
TABLE 121	SOUTH AMERICA: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)	184
9.2.3.1	Brazil	185
9.2.3.1.1	Increasing adoption of autonomous harvesting technology by commercial farmers to drive growth	185
9.2.3.2	Argentina	185
9.2.3.2.1	High agricultural production, along with large agricultural machinery manufacturing, to boost market	185
9.2.3.3	Rest of South America	186
9.3	EUROPE	186
9.3.1	IMPACT OF RECESSION ON MARKET IN EUROPE	186
FIGURE 42	EUROPE: PRECISION FARMING MARKET SNAPSHOT	187
TABLE 122	EUROPE: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	187
TABLE 123	EUROPE: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)	188
TABLE 124	EUROPE: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	188
TABLE 125	EUROPE: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	188
TABLE 126	EUROPE: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	189
TABLE 127	EUROPE: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)	189
TABLE 128	EUROPE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	189
TABLE 129	EUROPE: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	190
9.3.2	UK	190
9.3.2.1	Active participation of universities in UK to develop advanced precision farming tools to drive market growth	190
9.3.3	GERMANY	190
9.3.3.1	Technological advancements in agriculture sector to drive market	190
9.3.4	FRANCE	191
9.3.4.1	Increasing startup companies in agriculture sector to support market growth	191
9.3.5	ITALY	192
9.3.5.1	Rapid agricultural innovations in country to drive market	192
9.3.6	NETHERLANDS	192
9.3.6.1	Launch of harvesting robots to offer lucrative opportunities	192
9.3.7	REST OF EUROPE	192
9.4	ASIA PACIFIC	193
9.4.1	IMPACT OF RECESSION ON MARKET IN ASIA PACIFIC	193
FIGURE 43	ASIA PACIFIC: PRECISION FARMING MARKET SNAPSHOT	194
TABLE 130	ASIA PACIFIC: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	195
TABLE 131	ASIA PACIFIC: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)	195
TABLE 132	ASIA PACIFIC: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	195
TABLE 133	ASIA PACIFIC: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	196
TABLE 134	ASIA PACIFIC: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	196
TABLE 135	ASIA PACIFIC: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)	197
TABLE 136	ASIA PACIFIC: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	197
TABLE 137	ASIA PACIFIC: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	197
9.4.2	CHINA	198
9.4.2.1	Government incentives and developments in agriculture field to drive market	198
9.4.3	JAPAN	198
9.4.3.1	Application of precision technology through robotic equipment to drive market	198
9.4.4	AUSTRALIA	199
9.4.4.1	Initiatives by organizations for development of agriculture sector to drive market	199
9.4.5	INDIA	199
9.4.5.1	Government initiatives and growing collaborations among players to benefit market	199
9.4.6	SOUTH KOREA	200
9.4.6.1	Establishment of smart farming villages with advanced technologies to drive market	200
9.4.7	REST OF ASIA PACIFIC	200
9.5	REST OF THE WORLD	201
9.5.1	IMPACT OF RECESSION ON MARKET IN REST OF THE WORLD	201
TABLE 138	REST OF THE WORLD: PRECISION FARMING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)	201
FIGURE 44	RUSSIA HELD LARGEST MARKET SHARE IN REST OF THE WORLD IN 2022	202
TABLE 139	REST OF THE WORLD: PRECISION FARMING MARKET, BY COUNTRY, 2023–2031 (USD MILLION)	202
TABLE 140	REST OF THE WORLD: PRECISION FARMING MARKET, BY OFFERING, 2019–2022 (USD MILLION)	202
TABLE 141	REST OF THE WORLD: PRECISION FARMING MARKET, BY OFFERING, 2023–2031 (USD MILLION)	203
TABLE 142	REST OF THE WORLD: PRECISION FARMING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)	203
TABLE 143	REST OF THE WORLD: PRECISION FARMING MARKET, BY APPLICATION, 2023–2031 (USD MILLION)	204
TABLE 144	REST OF THE WORLD: PRECISION FARMING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)	204
TABLE 145	REST OF THE WORLD: PRECISION FARMING MARKET, BY TECHNOLOGY, 2023–2031 (USD MILLION)	204
9.5.2	MIDDLE EAST	205
9.5.2.1	Growing partnership by government with private sector players in precision farming market to drive market	205
9.5.3	AFRICA	205
9.5.3.1	Growing use of drones and other agricultural machinery to strengthen market in Africa	205
9.5.4	RUSSIA	206
9.5.4.1	Government initiatives to promote precision farming to drive market	206
10	COMPETITIVE LANDSCAPE	207
10.1	OVERVIEW	207
10.2	KEY STRATEGIES ADOPTED BY MAJOR PLAYERS	207
TABLE 146	OVERVIEW OF STRATEGIES DEPLOYED BY KEY PRECISION FARMING PROVIDERS	207
10.2.1	PRODUCT PORTFOLIO	208
10.2.2	REGIONAL FOCUS	209
10.2.3	MANUFACTURING FOOTPRINT	209
10.2.4	ORGANIC/INORGANIC GROWTH STRATEGIES	209
10.3	MARKET SHARE ANALYSIS, 2022	209
TABLE 147	PRECISION FARMING MARKET: DEGREE OF COMPETITION, 2022	210
10.4	FIVE-YEAR COMPANY REVENUE ANALYSIS OF TOP COMPANIES, 2018–2022	211
FIGURE 45	FIVE-YEAR COMPANY REVENUE ANALYSIS OF LEADING MARKET PLAYERS	211
10.5	COMPANY EVALUATION MATRIX, 2022	213
10.5.1	STARS	213
10.5.2	EMERGING LEADERS	214
10.5.3	PERVASIVE PLAYERS	214
10.5.4	PARTICIPANTS	214
FIGURE 46	PRECISION FARMING: COMPANY EVALUATION MATRIX, 2022	215
10.5.5	PRECISION FARMING MARKET: COMPANY FOOTPRINT	216
TABLE 148	COMPANY FOOTPRINT	216
TABLE 149	OFFERING FOOTPRINT	217
TABLE 150	APPLICATION FOOTPRINT	218
TABLE 151	REGION FOOTPRINT	219
10.6	STARTUPS/SMES EVALUATION MATRIX, 2022	220
10.6.1	PROGRESSIVE COMPANIES	220
10.6.2	RESPONSIVE COMPANIES	220
10.6.3	DYNAMIC COMPANIES	220
10.6.4	STARTING BLOCKS	220
FIGURE 47	PRECISION FARMING MARKET: STARTUPS/SMES EVALUATION MATRIX, 2022	221
10.7	COMPETITIVE BENCHMARKING	222
TABLE 152	PRECISION FARMING MARKET: LIST OF KEY STARTUPS	222
TABLE 153	PRECISION FARMING MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES	223
 
10.8	COMPETITIVE SCENARIOS AND TRENDS	223
10.8.1	PRODUCT LAUNCHES	223
TABLE 154	PRECISION FARMING MARKET: PRODUCT LAUNCHES, 2020–2023	224
10.8.2	DEALS	226
TABLE 155	PRECISION FARMING MARKET: DEALS, 2020–2023	226
11	COMPANY PROFILES	230
11.1	KEY PLAYERS	230
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1.1	DEERE & COMPANY	230
TABLE 156	DEERE & COMPANY: COMPANY OVERVIEW	230
FIGURE 48	DEERE & COMPANY: COMPANY SNAPSHOT	231
11.1.2	TRIMBLE INC.	236
TABLE 157	TRIMBLE INC.: COMPANY OVERVIEW	236
FIGURE 49	TRIMBLE INC.: COMPANY SNAPSHOT	237
11.1.3	AGCO CORPORATION	245
TABLE 158	AGCO CORPORATION: COMPANY OVERVIEW	245
FIGURE 50	AGCO CORPORATION: COMPANY SNAPSHOT	246
11.1.4	RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.)	251
TABLE 159	RAVEN INDUSTRIES, INC.: COMPANY OVERVIEW	251
FIGURE 51	RAVEN INDUSTRIES, INC. (CNH INDUSTRIAL N.V.): COMPANY SNAPSHOT	252
11.1.5	AGJUNCTION LLC	257
TABLE 160	AGJUNCTION LLC: COMPANY OVERVIEW	257
11.1.6	AG LEADER TECHNOLOGY	262
TABLE 161	AG LEADER TECHNOLOGY: COMPANY OVERVIEW	262
11.1.7	AGEAGLE AERIAL SYSTEMS INC	265
TABLE 162	AGEAGLE AERIAL SYSTEMS INC: COMPANY OVERVIEW	265
FIGURE 52	AGEAGLE AERIAL SYSTEMS INC: BUSINESS OVERVIEW	266
11.1.8	TOPCON	269
TABLE 163	TOPCON: COMPANY OVERVIEW	269
11.1.9	CLIMATE LLC	273
TABLE 164	CLIMATE LLC: BUSINESS OVERVIEW	273
11.1.10	TEEJET TECHNOLOGIES	276
TABLE 165	TEEJET TECHNOLOGIES: COMPANY OVERVIEW	276
11.2.1 HEXAGON AB 278
11.2.2 ABACO S.P.A. 279
11.2.3 PRECISION HAWK 280
11.2.4 EC2CE 281
11.2.5 DESCARTES LABS, INC. 282
11.2.6 CROPX INC. 283
11.2.7 FARMERS EDGE INC. 284
11.2.8 GROWNETICS 285
11.2.9 CROPIN TECHNOLOGY SOLUTIONS PRIVATE LIMITED 286
11.2.10 GAMAYA 287
11.2.11 KUBOTA CORPORATION 288
11.2.12 CNH INDUSTRIAL N.V. 289
11.2.13 DICKEY-JOHN CORPORATION 290
11.2.14 TELUS 291
11.2.15 THE YIELD TECHNOLOGY SOLUTIONS PTY LTD. 292
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 APPENDIX 293
12.1 DISCUSSION GUIDE 293
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 296
12.3 CUSTOMIZATION OPTIONS 298
12.4 RELATED REPORTS 298
12.5 JAPAN CUSTOMIZATION 299
TABLE 166 JAPAN: PRECISION FARMING MARKET, BY OFFERING, 2018–2021 (USD MILLION) 299
TABLE 167 JAPAN: PRECISION FARMING MARKET, BY OFFERING, 2022–2030 (USD MILLION) 299
TABLE 168 JAPAN: PRECISION FARMING MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 299
TABLE 169 JAPAN: PRECISION FARMING MARKET, BY APPLICATION, 2022–2030 (USD MILLION) 300
TABLE 170 JAPAN: PRECISION FARMING MARKET, BY TECHNOLOGY, 2018–2021 (USD MILLION) 300
TABLE 171 JAPAN: PRECISION FARMING MARKET, BY TECHNOLOGY, 2022–2030 (USD MILLION) 300
12.6 AUTHOR DETAILS 301
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