Growth opportunities in the precision planting market look promising over the next six years. This is mainly due to the soaring preference towards the adoption of advanced modern technology equipment for extensive crop production.
Precision Planting Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The increasing inclination towards acquiring the latest technological equipment for large-scale crop production to fulfil the worldwide massive population challenge drives the growth of the global precision planting market. For example, Mahindra and Mahindra Limited’s Farm Equipment Sector (FES), in 2020, introduced advanced modern technology-based precision potato planting machinery named ‘PlantingMaster Potato +.’ The machine was designed and developed in partnership with Dewulf, a Europe-based leader in potato machinery. Moreover, the augmenting demand for crop production to distribute the worldwide population is witnessed potential growth for the precision planting market growth. For instance, according to the Population UN Organization Report in 2019, the world’s population touched approximately 7.7 Billion and is expected to reach 8.6 Billion by 2030. Thus, this acceleration in the population throughout the world will require sophisticated technology to improve crop production, which precision planting methods can do. However, the excessive cost for innovatory equipment required in farming and high skills to manage the digital tools with accurate knowledge and training will restrain the precision planting market share.
Regional Drivers
Based on the regional coverage, North America is predicted to lead the market over the forecast period. This is primarily attributed to the prevalence of major technology players coupled with the fast acceptance of developed technology for agriculture accompanied by Europe and Asia-pacific. On the other hand, Asia Pacific is projected to expand at a faster CAGR during the forecast period. This is owing to its augmenting demand and favorable strategies and schemes of government to improve the crop production required for the huge population. For example, In India, precision farming ‘Fasal’ has initiated a plug-and-play IoT and sensors-based system named ‘Fasal Kranti.’ The device aims to make farming more valuable and sustainable in upgraded data-driven decisions on the farm concerning fertigation, irrigation, disease, and pest management. The Fasal has assembled a world-class solution for core problems for horticulture farmers and has decided to extend to 13 Million hectares of the farm under horticulture with an investment of USD 2.7 Billion under Fasal Kranti in India.
Precision Planting Market’s leading Manufacturers:
- Ag Leader Technology
- Cassidian
- Agco Corporation.
- Davimac Manufacturing
- Stara S/A Indústria De Implementos Agrícolas
- Buhler Industries Inc.
- Deere & Company
- Seedmaster
- Alenia Aeronautica
- Kubota Corporation
- Kasco Manufacturing Co., Inc.
- Vaderstad North America
- Trimble Inc.
Precision Planting Market Segmentation:
Segmentation by Offering
- Software
- Hardware
- Services
Segmentation by System Type
- Drones
- Precision Air Seeders
- High-Speed Precision Planting Systems
Segmentation by Farm Size
- Above 400 Hectares
- Below 400 Hectares
Segmentation by Drive Type
- Hydraulic
- Electric
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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