Market Size of United States Precision Farming Software Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Precision Farming Software Market Analysis
The US precision farming software market (henceforth, referred to as the market studied) was valued at USD 521.9 million in 2019, and it is projected to register a CAGR of 11.1% during the period, 2020-2025 (henceforth, referred to as the forecast period). By application, the crop management segment occupied the largest market share of 31.6%, in 2019, followed by financial management, and weather tracking and forecasting. Among all the segments categorized by application, the segment for crop management is projected to witness the highest CAGR of 12.4%, over the forecast period.
United States Precision Farming Software Industry Segmentation
Precision farming software can be defined as a cloud-based tool that enables farmers to gain insights on relevant information related to factors, such as real-time data on the chosen crop and field parameters, yield monitoring, financial accounting, inventory management, and weather-related records, for maximizing farm productivity and revenues. For the study, the market has been segmented by application into crop management, financial management, farm inventory management, personnel management, weather tracking and forecasting, and other application areas. The segmentation analyzes involve detailed understating of the most prevalent areas of application of precision farming software in the United States. The scope of the report also extends to market segmentation, by type into local/web-based and cloud-based software.
| Application | |
| Crop Management | |
| Financial Management | |
| Farm Inventory Management | |
| Personnel Management | |
| Weather Tracking and Forecasting | |
| Other Application Areas |
| Type | |
| Local/ Web Based | |
| Cloud-based |
United States Precision Farming Software Market Size Summary
The precision farming software market in the United States is experiencing significant growth, driven by the increasing need for efficient farm management solutions amid labor shortages and rising farm sizes. The market is characterized by a diverse range of applications, with crop management leading the charge due to its substantial share and projected growth. The adoption of precision farming technologies is further propelled by the need to optimize farm resources and enhance productivity, as evidenced by the shift in employment dynamics within the agricultural sector. Large-scale farms, in particular, are leveraging these technologies to automate processes and respond to field variations, thereby improving profitability and operational efficiency.
The market landscape is highly fragmented, with a few key players holding a significant portion of the market share through diversified product offerings and strategic initiatives such as research and development, partnerships, and geographical expansions. Companies like Trimble Inc., AgDNA Pty Ltd, and Granular Inc. are at the forefront, providing innovative solutions that cater to the evolving needs of the agricultural sector. The focus on enhancing profitability through precision agriculture technologies, such as GPS mapping and yield monitoring, is driving the adoption of precision farming software, particularly in the corn and soybean sectors. This trend is expected to continue, further boosting the market's growth trajectory in the coming years.
United States 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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1.3 Market Restraints
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1.4 Porter's Five Force's 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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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Crop Management
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2.1.2 Financial Management
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2.1.3 Farm Inventory Management
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2.1.4 Personnel Management
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2.1.5 Weather Tracking and Forecasting
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2.1.6 Other Application Areas
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2.2 Type
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2.2.1 Local/ Web Based
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2.2.2 Cloud-based
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United States Precision Farming Software Market Size FAQs
What is the current United States Precision Farming Software Market size?
The United States Precision Farming Software Market is projected to register a CAGR of 11.10% during the forecast period (2024-2029)
Who are the key players in United States Precision Farming Software Market?
Granular, Inc., Trimble inc, AgDNA and Deere & Company are the major companies operating in the United States Precision Farming Software Market.
