The global precision farming market was estimated at USD 11.67 billion in 2024 and is projected to reach USD 24.09 billion by 2030, representing a compound annual growth rate (CAGR) of approximately 13.1% from 2025 to 2030. The rapid expansion of the Internet of Things (IoT) and the growing use of advanced analytics by farmers are key drivers behind this growth.

Key Market Trends & Insights

  • In 2024, the North American region commanded the largest revenue share — over 43.0% of the global market.
  • Within the offering categories, the hardware segment dominated, accounting for over 66.0% of the market in 2024.
  • In terms of applications, yield monitoring led with a market share of more than 42.0% in 2024.
  • The adoption of technologies such as sensors, guidance systems, remote sensing, drones and automated control systems is propelling this shift, as agriculture increasingly becomes data-driven and precision-oriented.

Market Size & Forecast

  • 2024 Market Size: USD 11.67 billion.
  • 2030 Projected Market Size: USD 24.09 billion.
  • CAGR (2025-2030): 13.1%.
  • Regionally, North America is expected to continue leading in absolute size, while Asia Pacific is projected to register the fastest growth.

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Key Companies & Market Share Insight

The competitive landscape of precision farming is shaped predominantly by hardware-focused players transitioning into software and service offerings. Some of the leading companies include:

These companies are consolidating their market positions through strategic partnerships, joint ventures, and technology acquisitions, enabling them to cover the full stack—from sensor hardware to analytics platforms and subscription-based services.

Key Companies List

  • Ag Leader Technology
  • AgJunction, Inc.
  • CropMetrics LLC
  • Trimble, Inc.
  • AGCO Corporation
  • Raven Industries Inc.
  • Deere & Company
  • Topcon Corporation
  • AgEagle Aerial Systems Inc. (Agribotix LLC)
  • DICKEY-john Corporation
  • Farmers Edge Inc.
  • Grownetics Inc.
  • Proagrica (SST Development Group, Inc.)
  • The Climate Corporation

Conclusion

In summary, the precision farming market is set for significant growth over the coming years, driven by the proliferation of IoT, advanced analytics, and growing adoption of automation technologies in agriculture. Hardware remains the dominant segment today, but software and services are gaining traction, reflecting a shift toward full-solution platforms. North America retains the lead in market size, while regions such as Asia Pacific present the fastest growth opportunities. The competitive field remains dynamic, with established equipment manufacturers and ag-tech firms investing heavily to capture value across the farm management ecosystem.

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