Precision Agriculture Market is Surge to $22.49 billion by 2034- BIS Research

Market Overview

Market Size and Growth 

The global precision agriculture market is set to grow from $9.86B in 2024 to $22.49B by 2034 at a CAGR of 8.59%, driven by the need for data-driven, sustainable farming. By integrating real-time analytics, precision agriculture enhances productivity, optimizes resource use, and supports food security and climate resilience. 

Trends and Innovation  

The rising adoption of IoT, AI, and data analytics in agriculture is transforming farming by enhancing yields, cutting input costs, and promoting sustainable practices. Precision agriculture reduces reliance on conventional methods, lowers emissions through optimized input use, and aligns with global climate-smart and sustainability goals. 

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Key Highlights 

Report USP 

• Detailed regional insights and competitive benchmarking. 
• Comprehensive analysis of demand drivers, challenges, and growth opportunities. 
• Extensive regional segmentation and profiles of leading players. 

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Demand Drivers, Challenges and Opportunities

Drivers 

The growing adoption of precision irrigation technologies is accelerating due to climate challenges, resource constraints, and the push for sustainability. Solutions like Netafim’s smart drip systems significantly reduce water use and emissions, while offering farmers economic benefits and access to carbon credits. 

Challenges 

Concerns over data security are slowing adoption, as precision ag tools collect sensitive farm data. High-profile cyberattacks on agribusinesses have heightened caution among stakeholders wary of breaches and data misuse. 

Opportunities 

Strategic partnerships with agri-tech startups are unlocking innovation. Deals like John Deere’s acquisition of Blue River Technology shows how AI and machine vision can enhance crop monitoring, efficiency, and a competitive edge in precision agriculture. 

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Market Segmentation 

Segmentation 1: Application Based Segmentation 

•    Field Monitoring 

•    Crop Forecasting 

•    Precision Planting 

•    Precision Spraying 

•    Precision Fertilization 

•    Precision Irrigation 

•    Farm Management 

•    Others 

Segmentation 2: Function Based Segmentation 

•    Farm Management 

•    Field Management 

•    Fleet Management 

Segmentation 3: Farm Produce Based Segmentation 

•    Field Crops  

•    Permanent Crops 

•    Other Farm Produce 

Segmentation 4: Technology Based Segmentation 

•    Guidance Technology 

•    Sensing Technology 

•    Variable Rate Application Technology 

•    Data Analytics and Intelligence 

•    Others 

Segmentation 5: Product Based Segmentation 

•    Hardware 

     o    Automation and Control Systems 

     o    Sensing and Navigation Systems 

     o    Indoor Farming Equipment 

•    Software 

     o    Farm Operations Management 

     o    Hardware Control Applications 

     o    Data And Predictive Analytics 

•    Support Services 

Segmentation 6: Region Based Segmentation 

•    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 

Competitive Landscape 

Key Players 

•    Accenture  

•    AGRIVI 

•    Bayer AG 

•    X (Alphabet Inc.) 

•    Amazon Web Services (AWS), Inc 

•    IBM Corporation 

•    BASF 

•    Microsoft 

•    Farmers Edge Inc. 

•    The Toro Company 

•    AGCO Corporation 

•    CNH Industrial N.V. 

•    Ag Leader Technology 

•    KUBOTA Corporation 

•    Deere & Company 

•    Hexagon AB 

•    Topcon Corporation 

•    YANMAR HOLDINGS Co., Ltd. 

•    TeeJet Technologies 

Strategic Initiatives  

Unlock strategic growth in the evolving precision agriculture market with insights into emerging technologies, competitive shifts, and sustainability trends. Leverage market intelligence to drive innovation, optimize operations, and align with global agri-tech prioritiesensuring long-term competitiveness and impactful decision-making. 

Case Studies and Success Stories  

The precision agriculture market is rapidly expanding as farmers adopt IoT, AI, and robotics to tackle labor shortages, boost yields, and reduce environmental impact. Backed by government support for climate-smart practices and rising global food demand, the shift toward data-driven, sustainable farming is accelerating. Leading agri-tech firms are investing in strategic partnerships and innovation to scale adoption. This case reflects how technology, collaboration, and policy alignment are transforming modern agriculture and reinforcing global food security. 

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Related Reports from BIS Research 

Smart Farming Market 

Imaging Technologies for Precision Agriculture Market 

Smart Specialty Crop Farming Market 

About BIS Research 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.    

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