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The Wall Street Publication > Blog > Business > The precision agriculture market to achieve € 9.5 billion worldwide by 2028
Business

The precision agriculture market to achieve € 9.5 billion worldwide by 2028

Editorial Board Published January 11, 2025
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The precision agriculture market to achieve € 9.5 billion worldwide by 2028
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In response to a brand new analysis report from the IoT analyst agency Berg Perception, the worldwide marketplace for precision agriculture options is forecasted to develop from € 5.5 billion in 2023 at a compound annual progress price (CAGR) of 11.6 % to achieve about € 9.5 billion in 2028.

A set of applied sciences are utilized in precision farming practices, that are geared toward managing variations within the subject to maximise yield, elevate productiveness and cut back consumption of agricultural inputs.

Whereas options equivalent to auto-guidance and machine monitoring and management through on-board shows right this moment are mainstream applied sciences within the agricultural business, farm gear telematics options and variable price expertise are usually not but extensively adopted. Interoperability between options stays a problem, though initiatives to offer frequent protocols and language construction for information sharing are progressing.

Main suppliers of precision applied sciences embody Deere & Firm, AGCO through its three way partnership with Trimble, CNH Industrial with its Raven Industries subsidiary, Topcon Positioning Techniques and Hexagon. These corporations present complete portfolios of options for precision farming operations.

graphic: nstalled base of active wireless iot devices in agricultural production world 2023-2028

The agricultural drone market has lately emerged as a quickly rising space in precision farming. The market is led by DJI with an put in base of greater than 300,000 agricultural drones. The marketplace for in-field sensor methods will be divided into three segments: environmental monitoring, pest monitoring and water administration.

Semios (Almanac) is the most important vendor within the house with an put in base of over 500,000 sensor nodes, adopted by Pessl Devices and Davis Devices with estimated put in bases of round 80,000 and 50,000 gadgets respectively. Extra gamers embody Sencrop and Campbell Scientific with put in bases of 36,000 and 25,000 climate stations respectively. Distant in-field monitoring resolution suppliers with round 20,000 linked gadgets embody as an illustration CropX, Weenat, Trapview and WiseConn. There’s additionally an extended tail of smaller sensor system deployments by regional distributors worldwide.

“Today, autonomy is an increasingly important part of OEMs’ business strategies within agriculture”, stated Veronika Barta, IoT analyst at Berg Perception.

Recognised by main resolution suppliers, autonomous expertise permits farming operations to perform extra every day with fewer inputs. For instance, Deere & Firm goals to ship a totally autonomous battery-powered electrical tractor by 2026. Equally, AGCO has an ambition to have a full line of autonomous options for each stage of the crop cycle by 2030.

“While drone technology is the most advanced segment in terms of autonomy, more and more autonomous agricultural equipment are on the rise”, continued Ms Barta.

In June 2024, Kubota unveiled the AgriRobo mix harvester that would harvest rice and wheat with out a individual working it. In September 2024, Lely launched Juno Max, an autonomous feed pusher for large-scale dairy cow farms that’s designed to push feed in a number of barns and feeding alleys.

Ms Barta concluded:

“Even though autonomy in agriculture is in the early stages of maturity, it will play a significant role in the future of farming.”

TAGGED:agriculturebillionmarketPrecisionreachworldwide
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