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North America Precision Agriculture Market Size, Share: By Technology: GNSS/GPS Systems, GIS, Remote Sensing, Variable Rate Technology (VRT), Others; By Type: Automation and Control Systems, Sensing and Monitoring Devices, Farm Management Systems; By Component; By Application; Regional Analysis; Competitive Landscape; 2024-2032
North America Precision Agriculture Market Outlook
The North America precision agriculture market size was at about USD 4.52 billion in 2023. The precision agriculture industry is further expected to grow at a CAGR of 11.10% between 2024 and 2032 to reach a value of almost USD 11.64 billion by 2032.
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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 (NYSE: DE)
- Raven Industries, Inc. (NASDAQ: RAVN)
- Trimble Inc. (NASDAQ: TRMB)
- 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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Type |
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| Breakup by Component |
|
| Breakup by Application |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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 Opportunities and Challenges in the Market
8 Global Precision Agriculture Market Overview
8.1 Key Industry Highlights
8.2 Global Precision Agriculture Historical Market (2018-2023)
8.3 Global Precision Agriculture Market Forecast (2024-2032)
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 North America
8.8.2 Europe
8.8.3 Asia Pacific
8.8.4 Latin America
8.8.5 Middle East and Africa
9 North America Precision Agriculture Market Analysis
9.1 Key Industry Highlights
9.2 North America Precision Agriculture Historical Market (2018-2023)
9.3 North America Precision Agriculture Market Forecast (2024-2032)
9.4 North America Precision Agriculture Market by Technology
9.4.1 GNSS/GPS Systems
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 GIS
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.4.3 Remote Sensing
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2024-2032)
9.4.4 Variable Rate Technology (VRT)
9.4.4.1 Historical Trend (2018-2023)
9.4.4.2 Forecast Trend (2024-2032)
9.4.5 Others
9.5 North America Precision Agriculture Market by Type
9.5.1 Automation and Control Systems
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Sensing and Monitoring Devices
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
9.5.3 Farm Management Systems
9.5.3.1 Historical Trend (2018-2023)
9.5.3.2 Forecast Trend (2024-2032)
9.6 North America Precision Agriculture Market by Component
9.6.1 Hardware
9.6.1.1 Historical Trend (2018-2023)
9.6.1.2 Forecast Trend (2024-2032)
9.6.2 Software
9.6.2.1 Historical Trend (2018-2023)
9.6.2.2 Forecast Trend (2024-2032)
9.7 North America Precision Agriculture Market by Application
9.7.1 Mapping
9.7.1.1 Historical Trend (2018-2023)
9.7.1.2 Forecast Trend (2024-2032)
9.7.2 Crop Scouting
9.7.2.1 Historical Trend (2018-2023)
9.7.2.2 Forecast Trend (2024-2032)
9.7.3 Yield Monitoring
9.7.3.1 Historical Trend (2018-2023)
9.7.3.2 Forecast Trend (2024-2032)
9.7.4 Soil Monitoring
9.7.4.1 Historical Trend (2018-2023)
9.7.4.2 Forecast Trend (2024-2032)
9.7.5 Precision Irrigation
9.7.5.1 Historical Trend (2018-2023)
9.7.5.2 Forecast Trend (2024-2032)
9.7.6 Others
9.8 North America Precision Agriculture Market by Country
9.8.1.1 United States
9.8.1.2 Canada
10 Regional Analysis
10.1 United States
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
10.2.2 Forecast Trend (2024-2032)
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 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Precision Agriculture Market: Key Industry Highlights, 2018 and 2032
2. Global Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2023
3. Global Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4. Global Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2023
5. Global Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2024-2032
6. Global Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2023
7. Global Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2024-2032
8. Global Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Precision Agriculture Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Precision Agriculture Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Precision Agriculture Market: Key Industry Highlights, 2018 and 2032
13. North America Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2023
14. North America Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2024-2032
15. North America Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2023
16. North America Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2024-2032
17. North America Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2023
18. North America Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2024-2032
19. North America Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2023
20. North America Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2024-2032
21. North America Precision Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
22. North America Precision Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
23. United States Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2023
24. United States Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2024-2032
25. United States Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2023
26. United States Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2024-2032
27. United States Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2023
28. United States Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2024-2032
29. United States Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2023
30. United States Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2024-2032
31. Canada Precision Agriculture Historical Market: Breakup by Technology (USD Billion), 2018-2023
32. Canada Precision Agriculture Market Forecast: Breakup by Technology (USD Billion), 2024-2032
33. Canada Precision Agriculture Historical Market: Breakup by Type (USD Billion), 2018-2023
34. Canada Precision Agriculture Market Forecast: Breakup by Type (USD Billion), 2024-2032
35. Canada Precision Agriculture Historical Market: Breakup by Component (USD Billion), 2018-2023
36. Canada Precision Agriculture Market Forecast: Breakup by Component (USD Billion), 2024-2032
37. Canada Precision Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2023
38. Canada Precision Agriculture Market Forecast: Breakup by Application (USD Billion), 2024-2032
39. North America Precision Agriculture Market Structure
Key Questions Answered in the Report
In 2023, the North America precision agriculture market reached a value of nearly USD 4.52 billion.
In the forecast period of 2024-2032, the market in North America is projected to grow at a CAGR of 11.10%.
By 2032, the market is estimated to attain a value of almost USD 11.64 billion by 2032.
The major drivers of the market are rising disposable incomes, increasing population, growing adoption of smartphones and other intelligent devices, and their ability to help envision production levels, sunlight intensity, and soil moisture in real-time.
The rising need to learn more about sustainable farming practices and growing innovations in precision agriculture 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 market 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 significant types of precision agriculture in North America.
The major components in the North America market for precision agriculture are hardware and software.
The leading applications are mapping, crop scouting, yield monitoring, soil monitoring, and precision irrigation, among others.
The major players in the North America precision agriculture market 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 4.52 billion in 2023 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 2024-2032, growing at a CAGR of 11.10%. The industry is projected to reach USD 11.64 billion by 2032.
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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