Reports
North America Precision Agriculture Market: By Technology: GNSS/GPS Systems, GIS, Remote Sensing, Variable Rate Technology (VRT), Others; By Type; By Component; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
North America Precision Agriculture Market Outlook
The North America precision agriculture market size was at about USD 3.3 billion in 2020. The precision agriculture industry is further expected to grow at a CAGR of 11% between 2021 and 2026 to reach a value of almost USD 6.2 billion by 2026.
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The industry in North America is leading the global market due to the rising adoption of precision agriculture in various countries, such as the United States and Canada. Precision agriculture provides farmers with exact planting time, harvesting time, and crop rotation. It helps them to cut down on extra use of water, pesticides, fertilizers, and herbicides in the production process, consequently making it cost-effective for farmers.
The technologies further help farmers to be updated about the latest innovation in the industry; as a result, aiding the industry growth in the region. The growing awareness of sustainable agricultural activities for improving the productivity, the efficiency of the agricultural process, and food security are accelerating the industry growth.
Market Segmentation
Precision agriculture, variously known as satellite agriculture or site-specific crop management (SSCM), is one of the most popular innovations of modern farming. It is the concept which aims at increasing the production of food with the use of less agricultural inputs by determining precise variabilities within a field, alongside decreasing the total production cost.
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The North America precision agriculture market is divided on the basis of technology into:
- GNSS/GPS Systems
- GIS
- Remote Sensing
- Variable Rate Technology (VRT)
- Others
On the basis of type, the industry is categorised into:
- Automation and Control Systems
- Sensing and Monitoring Devices
- Farm Management Systems
On the basis of component, the industry is bifurcated into:
- Hardware
- Software
On the basis of application, the industry is divided into:
- Mapping
- Crop Scouting
- Yield Monitoring
- Soil Monitoring
- Precision Irrigation
- Others
The report also covers the regional markets of the technology like the United States and Canada.
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Market Analysis
The industry in North America is driven by the increasing adoption of smartphones and other intelligent mediums to remain informed about the latest technology or advancement in the agricultural sector. The increasing population and inflating disposable income are aiding the industry growth in the region. Furthermore, precision agriculture offers techniques that help farmers easily determine favourable weather conditions for the growth of the plant by the use of sensors, placed all around the region. These sensors are linked to digital applications and record rainfall, soil conditions in various areas; as a result, increasing farmer’s benefits, thus, accelerating the industry growth.
The industry is further aided by the ability of precision agriculture techniques to help envision production levels, sunlight intensity, soil moisture in real-time, leading to quick decision-making. The use of the technology further aids proper analysation of the production quality and provides customised treatment for the agricultural problems, thereby boosting the growth of the industry. The farmers are educated through these analyses about the processes to be used in the production process to enhance the quality of the final product, thereby propelling the industry growth.
Competitive Landscape
The report analyses the following key players in the North America precision agriculture market, covering their capacities, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers, acquisitions, and investments:
- AGCO Corporation (NYSE: AGCO)
- Deere & Company
- Raven Industries, Inc.
- Trimble Inc.
- AgJunction, Inc.
- Others
The EMR report covers the macro and micro aspects of the industry. The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model along with giving a SWOT analysis. It also provides an overview of the global market, covering the types, components, applications, and major regions of the industry.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Type, Component, Application, Country |
| Breakup by Technology | GNSS/GPS Systems, GIS, Remote Sensing, Variable Rate Technology (VRT), Others |
| Breakup by Type | Automation and Control Systems, Sensing and Monitoring Devices, Farm Management Systems |
| Breakup by Component | Hardware, Software |
| Breakup by Application | Mapping, Crop Scouting, Yield Monitoring, Soil Monitoring, Precision Irrigation, Others |
| Breakup by Country | United States, Canada |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | AGCO Corporation (NYSE: AGCO), Deere & Company, Raven Industries, Inc., Trimble Inc., AgJunction, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Precision Agriculture Market Overview
8.1 Key Industry Highlights
8.2 Global Precision Agriculture Historical Market (2018-2022)
8.3 Global Precision Agriculture Market Forecast (2023-2028)
8.4 Global Precision Agriculture Market by Technology
8.5 Global Precision Agriculture Market by Type
8.6 Global Precision Agriculture Market by Component
8.7 Global Precision Agriculture Market by Application
8.8 Global Precision Agriculture Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 North America Precision Agriculture Market Analysis
9.1 Key Industry Highlights
9.2 North America Precision Agriculture Historical Market (2018-2022)
9.3 North America Precision Agriculture Market Forecast (2023-2028)
9.4 North America Precision Agriculture Market by Technology
9.4.1 GNSS/GPS Systems
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 GIS
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.4.3 Remote Sensing
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2022)
9.4.3.3 Forecast Trend (2023-2028)
9.4.4 Variable Rate Technology (VRT)
9.4.4.1 Market Share
9.4.4.2 Historical Trend (2018-2022)
9.4.4.3 Forecast Trend (2023-2028)
9.4.5 Others
9.5 North America Precision Agriculture Market by Type
9.5.1 Automation and Control Systems
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2022)
9.5.1.3 Forecast Trend (2023-2028)
9.5.2 Sensing and Monitoring Devices
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2022)
9.5.2.3 Forecast Trend (2023-2028)
9.5.3 Farm Management Systems
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2022)
9.5.3.3 Forecast Trend (2023-2028)
9.6 North America Precision Agriculture Market by Component
9.6.1 Hardware
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2022)
9.6.1.3 Forecast Trend (2023-2028)
9.6.2 Software
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2022)
9.6.2.3 Forecast Trend (2023-2028)
9.7 North America Precision Agriculture Market by Application
9.7.1 Mapping
9.7.1.1 Market Share
9.7.1.2 Historical Trend (2018-2022)
9.7.1.3 Forecast Trend (2023-2028)
9.7.2 Crop Scouting
9.7.2.1 Market Share
9.7.2.2 Historical Trend (2018-2022)
9.7.2.3 Forecast Trend (2023-2028)
9.7.3 Yield Monitoring
9.7.3.1 Market Share
9.7.3.2 Historical Trend (2018-2022)
9.7.3.3 Forecast Trend (2023-2028)
9.7.4 Soil Monitoring
9.7.4.1 Market Share
9.7.4.2 Historical Trend (2018-2022)
9.7.4.3 Forecast Trend (2023-2028)
9.7.5 Precision Irrigation
9.7.5.1 Market Share
9.7.5.2 Historical Trend (2018-2022)
9.7.5.3 Forecast Trend (2023-2028)
9.7.6 Others
9.8 North America Precision Agriculture Market by Country
9.8.1 Market Share
9.8.1.1 United States
9.8.1.2 Canada
10 Regional Analysis
10.1 United States
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Breakup by Technology
10.1.4 Breakup by Type
10.1.5 Breakup by Application
10.2 Canada
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Breakup by Technology
10.2.4 Breakup by Type
10.2.5 Breakup by Application
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players' Market Share
13.3 Company Profiles
13.3.1 AGCO Corporation (NYSE: AGCO)
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Demographic Reach and Achievements
13.3.1.4 Financial Summary
13.3.1.5 Certifications
13.3.2 Deere & Company (NYSE: DE)
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Demographic Reach and Achievements
13.3.2.4 Financial Summary
13.3.2.5 Certifications
13.3.3 Raven Industries, Inc. (NASDAQ: RAVN)
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Demographic Reach and Achievements
13.3.3.4 Financial Summary
13.3.3.5 Certifications
13.3.4 Trimble Inc. (NASDAQ: TRMB)
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Demographic Reach and Achievements
13.3.4.4 Financial Summary
13.3.4.5 Certifications
13.3.5 AgJunction, Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Demographic Reach and Achievements
13.3.5.4 Financial Summary
13.3.5.5 Certifications
13.3.6 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Precision Agriculture Market: Key Industry Highlights, 2018 and 2028
2. Global Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
3. Global Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
4. Global Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
5. Global Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
6. Global Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
7. Global Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
8. Global Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global Precision Agriculture Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Precision Agriculture Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Precision Agriculture Market: Key Industry Highlights, 2018 and 2028
13. North America Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
14. North America Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
15. North America Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
16. North America Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
17. North America Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
18. North America Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
19. North America Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
20. North America Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
21. North America Precision Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2022
22. North America Precision Agriculture Market Forecast: Breakup by Country (USD Billion), 2023-2028
23. United States Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
24. United States Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
25. United States Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
26. United States Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
27. United States Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
28. United States Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
29. United States Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
30. United States Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
31. Canada Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2022
32. Canada Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2023-2028
33. Canada Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2022
34. Canada Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2023-2028
35. Canada Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2022
36. Canada Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2023-2028
37. Canada Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2022
38. Canada Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2023-2028
39. North America Precision Agriculture Market Structure
Key Questions Answered in the Report
In 2020, the North America precision agriculture market reached a value of nearly USD 3.3 billion.
In the forecast period of 2023-2028, the market in North America is projected to grow at a CAGR of 11%.
By 2026, the market is estimated to attain a value of almost USD 6.2 billion by 2026.
The major drivers of the industry such as rising disposable incomes, increasing population, increasing adoption of smartphones and other intelligent mediums, and its ability to help envision production levels, sunlight intensity, and soil moisture in real-time are expected to aid the market growth.
The rising need to learn more about sustainable faming practices and growing innovations in the industry are the major trends guiding the growth of the market.
What are the major regions of precision agriculture in North America according to the market report?
The major regions in the North America market are the United States and Canada.
The leading technologies in the industry are GNSS/GPS systems, GIS, remote sensing, and variable rate technology (VRT), among others.
Automation and control systems, sensing and monitoring devices, and farm management systems are the most significant types of precision agriculture in North America.
The major components in the industry are hardware and software.
The leading application segments are mapping, crop scouting, yield monitoring, soil monitoring, and precision irrigation, among others.
The major players in the industry are AGCO Corporation, Deere & Company, Raven Industries, Inc., Trimble Inc., and AgJunction, Inc., among others.
Analyst Review
The North America precision agriculture market attained a value of USD 3.3 billion in 2020 driven by the rising penetration of internet and smartphones. The growing adoption of sustainable agricultural practices, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 11%. The industry is projected to reach USD 6.2 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its technology, the industry can be segmented into GNSS/GPS systems, GIS, remote sensing, variable rate technology (VRT), and others. Automation and control systems, sensing and monitoring devices, and farm management systems are the major types of precision agriculture. Based on components, the industry is divided into hardware and software. On the basis of application, the industry is segmented into mapping, crop scouting, yield monitoring, soil monitoring, precision irrigation, and others. The major regional markets in North America are the United States and Canada. The leading players in the above industry are AGCO Corporation, Deere & Company, Raven Industries, Inc., Trimble Inc., and AgJunction, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
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