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Precision Farming Market Share

Report ID: GMI227
Published Date: Apr 2019
Report Format: PDF

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Precision Farming Market Share

Some of the leading vendors of the precision farming market are

Agribotix, LLC
AgSense LLC
Boumatic LLC.
AGCO Corporation
CropMetrics LLC
AgSmarts Inc.
Deere & Company
Dickey-John Corporation
Delaval Corporation
Farmers Edge Inc.
CropX Inc.
GEA Group AG
Monsanto Company
Precision Planting
Trimble Navigation Limited
Raven Industries Inc.
Topcon Positioning Systems Inc.

The companies operating in the market are adopting strategies, such as collaborations and acquisitions, to diversify their product portfolio and gain more market share. For instance, in September 2017, AGCO completed the acquisition of Precision Planting LLC equipment business from The Climate Corporation, a subsidiary of the Monsanto Corporation. The acquisition was intended to acquire and further develop Precision Planting’s capabilities to provide innovative & practical solutions for solving customers’ farming challenges. The acquisition also strengthened AGCO’s position as a full-line partner for growers globally.

Some precision farming vendors are expanding their distribution network to cater to a wider customer base in collaboration with other players having strong regional presence. For instance, in March 2017, Deere entered into a channel distribution agreement with Agri-Trend Group of Companies. Under the agreement, Deere dealers will help farmers to implement new technologies by leveraging Agri-Trend’s knowledge base.

Authors: Preeti Wadhwani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of precision farming surpassed USD 4 billion in 2018.

The industry share of precision farming is anticipated to grow at 15% CAGR between 2019 to 2025.

The precision farming technology has been gaining popularity across the world as it holds major potential to boost crop yield by utilizing IT-based methods in agriculture.

North America is expected to hold a market share of over 32% by 2025 owing to mechanization and heavy dependence on technology for aiding agribusinesses.

The ability to collect real-time information and analyzing a large set of geospatial data that helps in soil mapping and farm planning will fuel the demand for field mapping precision agriculture.

Companies like Agribotix, Boumatic LLC, CropMetrics LLC, Dickey-John Corporation, Farmers Edge Inc., and GEA Group AG, among others are the key industry players.