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Precision Planting Market Size

Report ID: GMI7097
Published Date: Oct 2023
Report Format: PDF

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Precision Planting Market Size

Precision Planting Market was valued at USD 5.2 billion in 2022 and projected to showcase over 10.1% CAGR from 2023 to 2032. As labor costs continue to rise, the ability to automate & streamline planting operations will become increasingly attractive to farmers, making precision planting solutions a cost-effective & sustainable choice for modern agriculture. For instance, in February 2022, Kinze Manufacturing launched its new 3505 True Speed high-speed planter for the 2023 season, providing advanced technology and improved productivity in smaller farms or small fields.

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Precision handling refers to the accurate & controlled manipulation of objects or equipment with a high degree of accuracy and finesse. It involves minimizing errors and maintaining exact positioning & movement, often in applications such as manufacturing, robotics, and medical procedures. Precision handling is essential in tasks where small deviations or mistakes can have significant consequences or impact product quality. It relies on specialized tools, technologies, and techniques to achieve meticulous control & desired outcomes.

Precision Planting Market Report Attributes
Report Attribute	Details
Base Year:	2022
Precision Planting Market Size in 2022:	USD 5.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10.1%
2032 Value Projection:	USD 10 Billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	342
Segments covered:	Offering, System Type, Drive Type, Crop Type & Region
Growth Drivers:	Climate change and need to fulfill increased food demand Rising demand for higher yields of crops and efficient methods Increased use of modern technologies to cut labor costs Focus on combining geo-information and sensor data into planting equipment. Increasing government support for precision planting
Pitfalls & Challenges:	High purchase, operational, and maintenance costs Small size of the landholding and the limited availability of skilled labor

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Precision planting technologies necessitate significant investments in equipment and experience, rendering them unfeasible for small landholders with limited resources. The scarcity of skilled personnel also exacerbates the problem as running and maintaining complex planting technologies necessitate specialized knowledge. These limits impede the adoption of precision planting methods, particularly in places where agriculture is largely small-scale. To enable broader access and gain advantages from precision planting practices, overcoming these difficulties may demand specialized support, education, and technology customization.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of precision planting was worth USD 5.2 billion in 2022 and is projected to expand at over 10.1% CAGR from 2023 to 2032, owing to increasing adoption by farmers to optimize planting processes and reduce the need for manual labor.

Precision planting market size from the electric drive segment is set to grow at over 10% CAGR from 2023 to 2032, owing to higher usage for the plantation of more seeds in areas with high yield potential and fewer seeds in less productive areas.

North America precision planting market held more than 35% revenue share in 2022 and is poised to expand at notable growth rate through 2032, attributed to the rising demand for advanced agricultural technologies to enhance crop yields and reduce resource wastage.

Some of the top precision planting companies are Ag Leader Technology, Agco Corporation, CNH Industrial, Deere & Company, Kinze Manufacturing, Topcon Positioning Systems, and Trimble Inc.