Market Size of Americas Precision Farming Software Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 17.00 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Americas Precision Farming Software Market Analysis
The Americas precision farming software market is expected to register a CAGR of approximately 17% during the forecast period (2021 - 2026). Current technological advances in data management coupled with a modern and sustainable agriculture environment is majorly driving the market growth in the American region.
- The American region holds a prominent share in the precision farming software market. The United States is witnessing healthy growth owing to the country's dominance in the adoption of advanced technologies, such as smart agriculture activities. Also, the region is significantly adopting precision technology to boost its sustainable and efficient agriculture sector in America.
- The adoption of precision farming software in the region is boosted by various factors, such as continuous advancements in technology, reduced price of equipment, and the use of social media and online publications that help create awareness. Also, the emerging countries in the American region, such as Argentina and Mexico, are rapidly adopting smart technologies in the agriculture space.
- During the last few decades, there has been a huge shift from traditional agricultural activities to organized agricultural activities to improve agricultural activities through the application of analytics and smart devices, mainly because of the region's focus on enhancing the existing solutions. Moreover, the shortage of farm labor, along with the increasing farm size, is augmenting the need for technology adoption in the farming industry.
- Several regional companies are making strategic collaborations with other companies to enhance their market presence further. For instance, CNH Industrial plans to purchase AgDNA, a farm management information system (FMIS), to jointly enable farmers and agribusinesses to consolidate a wide range of agronomic data streams into a single platform for quicker decision making.
Americas Precision Farming Software Industry Segmentation
Precision farming software incorporates information technology to ensure maximum productivity while increasing the crop yield. The software enables the user to receive real-time information about plant health, soil requirements, weather predictions, and the cost of labor incurred to complete a particular task in the field.
Various sensors are deployed in the field, such as satellite and robotic drones, which provide data and images that help farmers make immediate decisions on providing fertilizers, water or crop protection chemicals needed by the crop, for normal functioning. The market study provides a detailed analysis of the precision farming software market and the opportunities and challenges in the American region.
By Type | |
Cloud | |
Local/Web-based |
By Country | |
United States | |
Canada | |
Mexico | |
Argentina | |
Rest of Americas |
Americas Precision Farming Software Market Size Summary
The Americas precision farming software market is experiencing significant growth, driven by advancements in data management and the push towards sustainable agriculture. The United States leads this growth due to its early adoption of smart agriculture technologies and precision farming practices. The region's shift from traditional to organized agricultural activities is fueled by the need to enhance efficiency through analytics and smart devices. Factors such as reduced equipment costs, technological advancements, and increased awareness through social media are further propelling the adoption of precision farming software. Emerging markets like Argentina and Mexico are also rapidly embracing these technologies, contributing to the overall market expansion.
Cloud-based precision farming software is expected to see substantial growth, supported by strategic partnerships and collaborations among regional companies. These collaborations aim to enhance market presence and offer integrated solutions for agronomic data management. The United States is poised to dominate the market due to its rapid digitization, automation, and the implementation of IoT in agriculture. The competitive landscape is becoming more fragmented, with numerous players introducing innovative solutions to capture market share. Strategic partnerships, such as those between AgWorks LLC and FieldReveal LLC, are focused on delivering advanced software solutions, while collaborations like that of CropX and FarmAgro aim to improve efficiency and profitability for Latin American farmers.
Americas Precision Farming Software Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Adoption of Precision Technology in the Sustainable and Efficient Agriculture Sector in Americas
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1.2.2 Shortage of Farm labor, Along with Increasing Farm Size Across North America
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1.3 Market Restraints
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1.3.1 High Capital Cost and Complexity Regarding System Upgrades
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Impact of COVID-19 on the Americas Precision Farming Software Market
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1.6 Key Agricultural Statistics
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Cloud
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2.1.2 Local/Web-based
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2.2 By Country
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Mexico
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2.2.4 Argentina
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2.2.5 Rest of Americas
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Americas Precision Farming Software Market Size FAQs
What is the current Americas Precision Farming Software Market size?
The Americas Precision Farming Software Market is projected to register a CAGR of 17% during the forecast period (2024-2029)
Who are the key players in Americas Precision Farming Software Market?
Trimble Inc., Granular Inc., IBM Corporation, Deere & Company and AgDNA Technologies Inc. are the major companies operating in the Americas Precision Farming Software Market.