North America precision farming market is expected to grow at a double-digit CAGR during the forecast period on account of several government initiatives to adopt modern agricultural techniques. More and more farmers are adopting precision farming/agriculture as the big data and integrated farming management system enables farmers to improve the production efficiently. Food security is a fundamental issue to human existence and diminishing arable land, unfavorable climatic conditions and depleting resources are stressing for improving farming practices, thereby driving precision farming market in North America.
North America precision farming market can be segmented based on component, technology, application and country. In terms of component, the market can be segmented into hardware, software and services. Hardware is the dominant segment and is poised to grow at high pace during forecast period on account of high adoption of control and automation devices, such as sensors, drones/UAVs, cameras, GPS/GNSS. In terms of application, the market can be segmented into yield monitoring, field mapping, crop scouting, weather tracking, irrigation management, inventory management, farm labor management and others. Yield monitoring is the dominant segment in the market and the same trend is likely to continue during forecast period as it helps farmers to take decisions pertaining to the yield.
The market of precision farming in North America is gaining traction and expanding to various countries such as Canada, US and Mexico. Due to the early adoption of precision farming technologies in countries such as US and Canada, the market is predicted to grow at impressive rate through 2024. In 2016, Canadian government invested in clean seed capital group, to commercialize precision agriculture technology and restrict the excess usage of fertilizers and pesticides, thereby positively impacting the precision agriculture/farming market in the region.
List of major players operating in North America precision farming market include AG Leader Technology, AGCO Corporation, Trimble, Cropmetrics, SST Development Group, Dickey-john Corp., Agribotix LLC, Autocopter Corp., Deere & Company, Raven Industries, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020–2024
Objective of the Study
- To analyze and forecast the market size of North
America precision farming market.
- To classify and forecast North America precision
farming market based on component, technology, application and regional
distribution.
- To identify drivers and challenges for North
America precision farming market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in North
America precision farming market.
- To conduct pricing analysis for North America precision
farming market.
- To identify and analyze the profile of leading players involved in North
America precision farming market.
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Some of the leading players in North America precision farming market include AG Leader Technology, AGCO Corporation, Trimble, Cropmetrics, SST Development Group, Dickey-john Corp., Agribotix LLC, Autocopter Corp., Deere & Company, Raven Industries, etc.
performed both primary as well as exhaustive secondary research for this study. Initially, sourced a list of service providers across the globe. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, could include the service providers which could not be identified due to the limitations of secondary research. analyzed the product offerings, distribution channels and presence of all major service providers across the globe.
calculated the market size of North America precision farming
Key Target Audience
- Precision farming software
and solution providers and other stakeholders
- Agricultural equipment
manufacturers
- Electronic hardware
equipment manufacturers
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to precision farming market
- Market research and
consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as
