The precision agriculture market is reshaping farming with AI, IoT, and robotics, enabling data-driven decisions that boost yields, cut resource use, and support climate resilience. As digital farming gains traction, these technologies are key to achieving food security and sustainability goals.
The precision agriculture market is set for strong growth, driven by rising adoption of AI, IoT, and data analytics to boost crop yields, resource efficiency, and sustainability. Government support and growing food demand are accelerating the shift to smart farming globally. According to BIS Research, the global precision agriculture market is projected to reach $22.49 billion by 2034 from $9.86 billion in 2024, growing at a CAGR of 8.59%.
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Segmentation 1: based on Application
• Field Monitoring
• Crop Forecasting
• Precision Planting
• Precision Spraying
• Precision Fertilization
• Precision Irrigation
• Farm Management
• Others
Segmentation 2: based on Function
• Farm Management
• Field Management
• Fleet Management
Segmentation 3: based on Farm Produce
• Field Crops
• Permanent Crops
• Other Farm Produce
Segmentation 4: based on Technology
• Guidance Technology
• Sensing Technology
• Variable Rate Application Technology
• Data Analytics and Intelligence
• Others
Segmentation 5: based on Product
• Hardware
• Software
• Support Services
Segmentation 6: based on Region
• North America: U.S., Canada, and Mexico
• Europe: Germany, France, U.K., Spain, Italy, Netherlands, Denmark, and Rest-of-Europe
• Asia-Pacific: China, Japan, India, Indonesia, Vietnam, Malaysia, Australia, and Rest-of-Asia-Pacific
• Middle East and Africa: Israel, Turkey, South Africa, and Rest-of-Middle East and Africa
• South America: Brazil, Argentina, Chile, Peru, and Rest-of-South America
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Farmers are turning to precision irrigation to combat climate change and resource scarcity. Technologies like Netafim’s drip system for rice, launched with Regrow Ag, reduce water use by 70% and cut methane emissions aligning with climate goals and enabling carbon credit benefits.
Widespread data collection in smart farming raises cybersecurity concerns. A 2020 ransomware attack on a major U.S. agri-cooperative highlighted risks, slowing adoption due to fears over data breaches and system vulnerabilities.
Strategic alliances with startups accelerate innovation in AI, IoT, and smart tools. Deere & Company’s acquisition of Blue River Technology in 2021 strengthened its AI-based crop monitoring capabilities, boosting efficiency and market leadership in precision agriculture.
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The precision agriculture market is set for strong growth, fueled by the global push for sustainable farming, rising food demand, and labor shortages. Technologies like AI, IoT, and robotics are transforming agriculture, with government support accelerating adoption. Strategic partnerships and innovation by key players are driving efficiency, reducing environmental impact, and positioning precision agriculture as vital to global food security and climate resilience.
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