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The Precision Agriculture Market is projected to reach $27.81 billion by 2031, at a CAGR of 12.9% from 2024 to 2031. The growth of the precision agriculture market is driven by increasing government initiatives promoting the use of modern technologies in the agriculture sector and the surging demand for precision agriculture solutions due to climatic changes. However, the lack of connectivity and infrastructure in rural areas restrains the growth of this market.
Furthermore, technological advancements in the farming sector and the shortage of agricultural laborers are expected to generate growth opportunities for the players operating in this market. However, farmers’ lack of awareness regarding precision agriculture technologies is a major challenge impacting market growth.
Additionally, the increasing use of drones for variable rate applications and the integration of AI and big data analytics technologies into precision agriculture solutions are prominent trends in the precision agriculture market.
Here are the top 10 companies operating in the Precision Agriculture Market
Founded in 1837 and headquartered in Illinois, U.S., Deere & Company, also known as John Deere, provides agricultural, turf, construction, and forestry equipment. The company offers revolutionizing agriculture and construction solutions to meet the increasing global demand for food, fuel, shelter, and infrastructure. For nearly two centuries, John Deere has strived to tackle the global challenges of food security and economic empowerment. John Deere developed a unique production system-level approach designed to improve customer profitability, productivity, and sustainability.
The company operates in the market through four reportable segments: Production and Precision Agriculture; Small Agriculture and Turf; Construction and Forestry; and Financial Services.
The production and precision agriculture segment defines, develops, and delivers global equipment and technology solutions to unlock customer value for production-scale growers of large grains, small grains, cotton, and sugarcane. The segment’s main products include large and certain mid-size tractors, combines, cotton pickers, sugarcane harvesters and loaders, and soil preparation, seeding, application, and crop care equipment. This segment also provides integrated agricultural solutions and precision technologies across its portfolio of large equipment.
With its subsidiaries and strong distribution network, the company has a geographical presence across the United States, Canada, Western Europe, Central Europe and CIS, Latin America, Asia, Africa, Australia, New Zealand, and the Middle East. Some of its subsidiaries are John Deere (Jiamusi) Agricultural Machinery Co., Ltd. (China), John Deere Limited (U.K.), John Deere India Private Limited (India), John Deere S.A.S. (France) and John Deere Agricultural Holdings, Inc. (U.S.).
AGCO Corporation
Founded in 1990 and headquartered in Georgia, U.S., AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts. The company sells a full range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
The company provides telemetry-based fleet management tools, including remote monitoring and diagnostics. This tool helps farmers improve uptime, machine and yield optimization, mixed fleet optimization, and decision support with critical data privacy choices and convenient mobile tools that offer access to data and information. In addition, the company’s precision agriculture solutions are based on connectivity, automation, and digitalization and include satellite-based steering, field data collection, product self-adjustment, and yield mapping.
Precision Planting, Headsight, and Intelligent Ag Solutions, brands of AGCO Corporation, provide retrofit solutions to upgrade farmers’ existing equipment to improve their planting, liquid application, and harvest operations, resulting in yield and cost optimization.
With its subsidiaries and strong distribution network, the company has a geographical presence across North America, South America, Europe/Middle East, and Asia/Pacific/Africa. Some of its subsidiaries are AGCO AB (Sweden), AGCO A/S (Denmark), AGCO GmbH (Germany), AGCO Netherlands BV (Netherlands), and AGCO Canada Ltd (Canada).
Founded in 1932 and headquartered in Tokyo, Japan, Topcon Corporation designs, manufactures, and distributes precision measurement and workflow solutions for the global construction, geospatial, and agriculture markets. The company has a strong track record of creating relevant crop production software, from pioneering in-cab operating software to providing digital farm management tools that effectively manage many types of data.
The company offers solutions designed to reduce inputs and increase production in soil preparation, seeding, crop care, harvest, weighing, and feed management. The company is dedicated to making precision technology accessible to farmers of all types and sizes, democratizing technology, and ensuring that the benefits of productivity and efficiency reach a broad spectrum of farming operations. The company operates in the market through three reportable segments: Positioning, Smart Infrastructure, and Eye Care.
With its subsidiaries and strong distribution network, the company has a geographical presence across Japan, North America, Europe, China, Asia/Oceania, and other countries. Some of its subsidiaries are Topcon Precision Agriculture Pty Ltd. (Australia), Topcon Positioning Asia (Thailand) Co., Ltd (Thailand), Topcon Agriculture S.p.A. (Italy), Topcon Precision Agriculture Africa (Pty) Ltd. (South Africa), and Topcon Precision Ag Europe S.L (Spain).
Trimble Inc.
Founded in 1978 and headquartered in California, U.S., Trimble Inc. is a leading technology solutions provider. The company’s precision agriculture products and services consist of guidance and positioning systems, including autonomous steering systems, automated and variable rate application and technology systems, and information management solutions. These products and services enable farmers and their partners to improve crop performance, profitability, and environmental quality.
Trimble’s precision agriculture solutions can assist farmers throughout every step of the farming process, beginning with land preparation and continuing through the planting, nutrient, pest management, water management, and harvesting phases of a crop cycle. The company provides manual and automated navigation guidance for tractors and other farm equipment used in spraying, planting, cultivating, and harvesting applications.
The company operates in the market through four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The resources and utilities segment primarily serves customers working in agriculture, forestry, and utilities.
With its subsidiaries and strong distribution network, the company has a geographical presence across North America, Europe, Asia-Pacific, and the rest of the world. Some of its subsidiaries are Trimble DBO Information Technology (Shanghai) Co. Ltd. (China), Trimble Australia Solutions Pty Ltd (Australia), Trimble Belgium (Belgium), Trimble Europe B.V. (Netherlands), and GEOTrac Systems Inc. (Canada).
Founded in 1956 and headquartered in South Dakota, U.S., Raven Industries, Inc. is dedicated to advancing farming through innovation and technology, providing high-value products and systems that help farmers support a growing world. The company’s groundbreaking work in autonomous systems is unlocking new possibilities in farming, like driving tractors down the field, wirelessly connecting the office and the cab, and protecting the environment with controlled outputs.
The company’s precision ag solutions, autonomous steering, application controls, and other innovative products contribute to the foundation of an autonomous farming system. In addition, the company offers displays to help farmers optimize variable rate applications, auto-steering, yield monitoring, record keeping, wireless communications, and more. With its strong distribution network, the company has a geographical presence across North America, Latin America, Europe & Asia, and Canada.
Meticulous Research in its latest publication on Precision Agriculture Market has predicted the growth of 12.9% during the forecast year 2024-2031.
BASF SE
Founded in 1865 and headquartered in Ludwigshafen, Germany, BASF SE engages in the provision of chemical products. The company is working intensively on fundamental innovations for products, processes, and business models, for example, for the chemical recycling of plastics, battery and catalyst technologies, low-carbon production of basic chemicals, and digital, climate-smart farming.
The company offers xarvio solutions for precision farming. xarvio Digital Farming Solutions helps farmers make the most out of their fields and field zones. The solution helps farmers in field monitoring, seeding, nutrient management, and crop protection.
The company operates in the market through six reportable segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Agricultural Solutions segment provides seeds, crop protection, and digital solutions for the agricultural sector.
With its subsidiaries and strong distribution network, the company has a geographical presence across Europe, North America, South America, Africa, the Middle East, and Asia-Pacific. Some of its subsidiaries are BASF Japan Ltd. (Japan), BASF Grenzach GmbH (Germany), Chemetall GmbH (Germany), and BASF Italia SpA (Italy).
Founded in 1965 and headquartered in Tel Aviv, Israel, Netafim Ltd. is a subsidiary of Orbia Advance Corporation, S.A.B. de C.V. Netafim Ltd. offers precision irrigation solutions. The company offers agricultural, civil engineering, and project solutions related to the handling, use, and control of water in agricultural, farming, and aquacultural activities.
The company provides leading-edge irrigation systems, agricultural and greenhouse projects, services, and digital farming technologies that enable its customers to achieve significantly higher and better-quality yields while using less water, fertilizer, and other inputs.
With its strong distribution network, the company has a geographical presence across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Climate LLC
Headquartered in Missouri, U.S. Climate LLC is a subsidiary of Bayer AG. The company’s flagship product, the Climate FieldView, is the leading digital farming software platform to collect, store, and visualize critical field data. FieldView blends unrivaled machine compatibility, data analysis and visualization tools, and connectivity across dozens of trusted farm management partners to enable insights for more informed decisions in the field. The company’s solution enables farmers to collect, store, and analyze data on one easy-to-use platform. This powerful digital tool is backed by dedicated customer support, data-driven recommendations, and cutting-edge science. The company provides FieldView Drive, an in-cab hardware device to connects with farm equipment for capturing both machine and field data. FieldView Drive compatibility includes many equipment types, such as tractors, combines, liquid applicators, and planters, to help collect input data without the hassle of manual data entry.
Headquartered in Illinois, U.S., TeeJet Technologies designs and manufactures precision agricultural application products. The company manufactures a comprehensive line of products, including agricultural spray nozzles for various pesticide/fertilizer applications, boom components, valves/manifolds, strainers, and spray guns, as well as light bar guidance systems, sprayer control systems, ISOBUS job computers, assisted steering systems, and other precision application products.
In addition, TeeJet Technologies continues to invest in research and development to advance precision application and control technology. The company has been an innovator in agricultural application technology for more than 70 years. TeeJet precision farming products help cover fields with maximum efficiency. With its strong distribution network, the company has a geographical presence across the US/Canada, Central/South America, Australia/Oceania, Asia, Europe/CIS, and Africa.
AgJunction LLC
Founded in 1990 and headquartered in Arizona, U.S., AgJunction LLC provides advanced guidance and auto-steering solutions for precision agriculture applications. The company is recognized for creating reliable solutions backed by a deep mastery of precision technology. The company automates off-road applications to positively impact society by increasing efficiency, precision, and reliability. In recent years, over 15% of its revenue went into research & development to provide farmers with solutions to meet growing technological needs.
AgJunction’s autosteering system provides the necessary precision that ensures accurate spacing between crop rows. In addition, the company’s autosteering system, in combination with rate and section control technology, allows users to avoid spraying or spreading overlap by recording areas already covered during the operation. The company’s automatic steering software module offers maximum interoperability with diverse GNSS, displays, sensors, communication devices, and vehicle interface systems. In December 2021, KUBOTA Corporation acquired AgJunction LLC.
Authoritative Research on the Precision Agriculture Market – Global Opportunity Analysis and Industry Forecast (2024-2031)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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