Pune, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Market size & Growth Analysis:
As per the SNS Insider Report,“The Precision Planting Market Size was valued at USD 5.00 Billion in 2023 and is estimated to reach USD 12.24 Billion by 2032, growing at a CAGR of 10.47% during the period from 2024 to 2032.”
The precision planting market is becoming increasingly significant in the field of agricultural technology, offering creative methods to enhance farming techniques for higher productivity and conservation of resources. The increasing demand for food production on a global scale is a major factor propelling the expansion of the precision planting market. The USDA's Economic Research Service forecasts that the overall worth of food production is expected to reach approximately USD 510 billion. This shows an increase in development due to advancements in technology, increased utilization of sustainable practices, and a rising focus on food security. Primary crops like corn and soybeans continue to dominate, with an anticipated yield of about 15 billion bushels of corn and roughly 4.5 billion bushels of soybeans in the United States. Precision planting technology enables farmers to sow seeds precisely in terms of depth, spacing, and timing, resulting in optimal growing conditions and reduced waste. By using the latest data, cutting-edge precision planting systems can adapt to different conditions, offering resilience against environmental challenges. Progress in data analysis and automation has also played a role in the growing use of precision planting technologies. Sophisticated planting equipment is integrated with advanced software that collects and analyzes field data, giving farmers a thorough insight into their soil composition, moisture levels, and surrounding environmental factors.
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Dominant Market Players with their Product Listed in this Report are:
- AG Leader Technology (InCommand Displays, SureForce™)
- Bourgault Industries Ltd. (Bourgault Air Seeder, Bourgault Paralink™)
- Buhler Industries Inc. (Versatile RT490 Combine, Farm King Allied 6610 Snowblower)
- CNH Industrial N.V. (Case IH 2000 Series Early Riser® Planter, New Holland SP.400F Guardian™ Sprayer)
- Davimac Group (Davimac Chaser Bins, Davimac MK5 Air Seeder)
- Deere & Company (John Deere ExactEmerge™ Planter, John Deere S700 Combine)
- Dendra Systems (Dendra Planting Drone, Dendra Ecosystem Restoration Drone)
- Dickey-John Corporation (GAC® 2500-UGMA Grain Analysis Computer, Mini GAC® 2500)
- Droneseed (Droneseed Drone-Based Reforestation, Droneseed Drone Spraying System)
- Hexagon Agriculture (HxGN AgrOn Seed Monitor, HxGN AgrOn Planter Monitor)
- Kasco Manufacturing Inc. (Kasco Herd Seeder/Spreaders, Kasco Plotters Choice® Seeders)
- Kinze Manufacturing Inc. (Kinze 4900 Multi-Hybrid Planter, Kinze Mach Till™ Disc)
- Kuhn Group (Kuhn Axis® Fertilizer Spreader, Kuhn Vari-Master Plow)
- Kubota Corporation (Kubota BV4160 Econo Variable Chamber Round Baler, Kubota M7 Tractor)
- Kverneland Group (Kverneland iXtrack T4 Sprayer, Kverneland Optima HD II Precision Seed Drill)
- Lemken GmbH & Co. KG (Lemken Solitair Seed Drill, Lemken Rubin Compact Disc Harrow)
- Mahindra Agribusiness (Mahindra eMax Series Tractor, Mahindra Agribusiness Crop Care Solutions)
- Salford Group (Salford BBI MagnaSpread2 Fertilizer Spreader, Salford AerWay® 2B Series Aerator)
- Trimble Inc. (Trimble GFX-750 Display, Trimble Field-IQ™ Crop Input Control System)
- Valmont Industries (Valmont Irrigation, Valley Precision Planting Equipment)
"Comprehensive Segment Breakdown Highlights Emerging Opportunities in the Market"
- By Offering: The hardware segment dominated the market in 2023, with over 45% market share. Precision agriculture requires equipment and physical tools, including sensors, GPS receivers, planters, and variable-rate technology, among others. Hardware plays a critical role in modernizing old farming practices and ensuring better yields.
- By Drive Type: The electric drive system is the most popular in the precision planting market. This aspect is attributable to its performance, precision, and integration with modern technology. The use of electric drives guarantees farmers optimal yields and minimizes waste by ensuring precise control of seed depth, spacing, and rate. Additionally, drives have coordinated control mechanisms with GPS and variable-rate technology used in smart farming to control planting.
- By Farm Size: The below 400 ha category held over 55% market share in 2023 and remains the market leader, due to its high popularity in Europe and Asia as well as other regions. The farmers who have fewer than 400 ha of land are often looking for ways to maximize their yield without increasing the available sources, which explains the high demand of precision planting technologies. As a result, such companies as Trimble Agriculture have already developed Field-IQ precision planting technology that allows small agricultural landowners to manage the seed population and depth of planting.
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Key Market Segments:
By Offering
- Hardware
-Automation and Control
-Sensing and Monitoring
- Software
-SaaS
-PaaS
- Services
-System Integration & Consulting
-Managed Services
-Connected Services
-Assisted Professional Services
By Drive Type
- Electric Drive
- Hydraulic Drive
By System Type
- High-Speed Precision Planting Systems
- Precision Air Seeders
- Drones
By Farm Size
- Below 400 ha
- Above 400 ha
By Application
- Row Crops
- Cereals, Oilseeds & Pulses
- Forestry
"Analyzing Regional Dynamics and Growth Trends in the Global Market: A Comprehensive Examination"
In 2023, North America held a major market share of 37% and dominated the precision planting market. The market is growing in this region due to the implementation of advanced agriculture practices, higher technology adoption, and a focus on expanding RD centers over other regions. Additionally, the major producers are based in this region, apart from the presence of high-quality agricultural infrastructure.
Asia-Pacific region is anticipated to have a faster growth rate during 2024-2032. The rising demand owing to the growing population, increasing urbanization, and introduction of advanced technologies for higher yield and agricultural productivity is impacting the regional market in countries like China and India. The government is taking effective measures to boost the agriculture sector by offering subsidies in this sector.
Recent Developments
| Date | Company | Development/Launch |
| June 2024 | John Deere | Launch of a new GPS-guided planter with advanced automation features. |
| August 2024 | AG Leader Technology | Introduction of a cutting-edge sensing technology for soil moisture monitoring. |
| September 2024 | Trimble Inc. | Release of a software platform for real-time data analytics in precision planting. |
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Future Trends
The Precision Planting Market is expected to witness several trends in the coming years. One significant trend is the increasing integration of Artificial Intelligence (AI) and Machine Learning (ML) into planting systems, enabling more precise decision-making based on real-time data analysis. Additionally, the rise of sustainable farming practices will drive the adoption of eco-friendly planting solutions that reduce chemical inputs and optimize resource use. The development of autonomous planting equipment is also anticipated to reshape the market, allowing for greater efficiency and reduced labor costs. Furthermore, advancements in drone technology will enhance the capabilities of precision planting, enabling farmers to monitor and manage their fields more effectively. As these trends continue to evolve, the Precision Planting Market is set for substantial growth and innovation.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Precision Planting Adoption Rate by Region
5.2 Precision Planting Crop Type Adoption
5.3 Precision Planting Customer Satisfaction and Feedback
5.4 Regulatory Environment
6. Competitive Landscape
7. Precision Planting Market Segmentation, by Offering
8. Precision Planting Market Segmentation, by System Type
9. Precision Planting Market Segmentation, by Drive Type
10. Precision Planting Market Segmentation, by Farm Size
11. Precision Planting Market Segmentation, by Application
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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