Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The "Precision Planting Market by Offering (Hardware, Software, Services), System Type (High-Speed Planters, Precision Air Seeders, Drones), Drive Type (Electric Drive, Hydraulic Drive), Application, Farm Size and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global precision planting market size is estimated to be USD 5.0 billion in 2022 and is projected to reach USD 8.2 billion by 2027, at a CAGR of 10.3% during the forecast period.
The precision planting services market is expected to grow at the highest CAGR during the forecast period
During the forecast period, the services segment is expected to grow at the highest CAGR of 8.3%. This is due to the growing demand for managed services.
An additional factor driving the growth of the services market is the demand for connectivity services to ensure proper connectivity between hardware devices and end-user interfaces. Even though precision planting is still in its infancy, growing awareness of its benefits, coupled with a demographic shift toward younger, more tech-savvy farmers, will drive the market's growth.
The market for drones followed by high speed precision planters estimated to grow at higher CAGR during the forecast period
In order to address the issue of climate change, drones are expected to grow rapidly in forestry plantations. Drones can plant 60 to 100 times faster than manual methods, which is one of the major reasons for this segment's rapid growth. Due to their widespread adoption among row crops such as soybeans, corn, and cotton, high-speed precision planting systems are expected to grow at a substantial rate during the forecast period.
There are several types of high-speed precision planters, which are suitable for a wide range of farms and have a high adoption rate. The smallest row size is available in 2-row planters, while the largest row size is available in 48-row planters. Integration of technologies such as guidance systems, smart metering systems, variable rate seeding systems, and sophisticated sensors in planters has made them a preferred choice among owners of large farms.
Precision planting market in Asia Pacific to grow at the highest CAGR between 2022 and 2027
In Asia Pacific, the precision planting market is expected to grow at the highest CAGR from 2022 to 2027. Several countries in Asia Pacific are currently experiencing significant growth in the market, including India, Australia, China, and Japan.
They contribute a considerable amount of market share to this region. Because of a large number of farms larger than 1,000 ha in Asia Pacific, Australia has seen substantial adoption of precision planters. Due to better returns on investment and economies of scale, Australia's average farm size is 4,000 ha, making it an ideal place to invest in high-speed precision planting systems.
| Report Attribute | Details |
| No. of Pages | 264 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $5 Billion |
| Forecasted Market Value (USD) by 2027 | $8.2 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities for Players in Precision Planting Market
4.2 Precision Planting Market, by Offering
4.3 Precision Planting Market, by System Type
4.4 Precision Planting Market, by Drive Type
4.5 Precision Planting Market, by Farm Size
4.6 Precision Planting Market, by Application
4.7 Precision Planting Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Climate Change and Need to Meet Rising Demand for Food
5.2.1.2 Substantial Cost Savings Associated with Precision Planting and Seeding Equipment
5.2.1.3 Surge in Adoption of Advanced Technologies to Reduce Labor Cost
5.2.1.4 Focus on Integration of Geo-Mapping and Sensor Data into Planting Equipment
5.2.1.5 Increased Promotion of Precision Planting Techniques by Governments of Various Countries Worldwide
5.2.2 Restraints
5.2.2.1 High Purchase, Operational, and Maintenance Costs
5.2.2.2 Small Size of Landholdings and Limited Availability of Skilled Labor
5.2.3 Opportunities
5.2.3.1 Rise in Adoption of Technologically Advanced Equipment and Tools in the Agriculture Industry
5.2.3.2 Integration of Smartphone Applications into Precision Planting Equipment
5.2.3.3 Increased Use of AI-based Solutions in Precision Planting
5.2.4 Challenges
5.2.4.1 Integration of Farm Data on a Single Platform
5.2.4.2 Lack of Standardization in the Precision Planting Industry
5.3 Value Chain Analysis
5.4 Precision Planting Market Ecosystem
5.5 Pricing Analysis: Average Selling Price Trend
5.5.1 Average Selling Price of Systems Offered, by Key Player
5.6 Trends/Disruptions Impacting Customer's Business
5.7 Key Technology Trends
5.7.1 Advent of Artificial Intelligence in the Agriculture Sector
5.7.2 Use of IoT in the Agriculture Sector
5.7.3 Adoption of Agricultural Drones/Unmanned Aerial Vehicles (UAVs)
5.8 Porter's Five Forces Analysis
5.9 Key Stakeholders and Buying Criteria
5.9.1 Key Stakeholders in Buying Process
5.9.2 Buying Criteria
5.10 Case Studies: Precision Planting Market
5.11 Trade Analysis
5.12 Patent Analysis
5.13 Key Conferences and Events in 2022-2024
5.14 Tariffs, Codes, and Regulatory Landscape
6 Precision Planting Market, by Offering
6.1 Introduction
6.2 Hardware
6.2.1 Automation and Control
6.2.1.1 Guidance Systems
6.2.1.1.1 Automated Guidance and Steering Systems Rapidly Adopted in Tractors and Agricultural Robots
6.2.1.2 Drive Systems
6.2.1.2.1 Electric Drive Systems Segment to Witness Significant Growth During Forecast Period
6.2.1.3 Display Systems
6.2.1.3.1 Increased Integration of Display Devices into Precision Planting Systems to Drive Market
6.2.1.4 Control Systems
6.2.1.4.1 Demand for Wireless Control Systems to Increase in Coming Years
6.2.1.5 Gps Receivers
6.2.1.5.1 High Demand for Gps Receivers in Variable Rate Application
6.2.1.5.2 Dgps
6.2.1.5.2.1 Reduction in Cost of Dgps to Boost Its Adoption
6.2.1.5.3 Rtk
6.2.1.5.3.1 Higher Accuracy Offered by Rtk Than Conventional Receivers to Foster Their Demand
6.2.1.6 Drones/UAVs
6.2.1.6.1 Use of Drones for Reforestation and Precise Seeding to Drive Market Growth
6.2.1.7 Others
6.2.1.8 Sensing and Monitoring
6.2.1.8.1 Smart Metering Systems
6.2.1.8.1.1 Single Seed Metering Systems
6.2.1.8.1.2 Vacuum Seed Meters
6.2.1.8.1.3 Positive Air Metering Systems
6.2.1.8.1.4 Advanced Seed Meters
6.2.1.9 Sensors
6.2.1.9.1 Increased Adoption of Advanced Planting Techniques and Declining Asp of Sensors to Propel Market Growth
6.2.1.9.2 Force Sensors
6.2.1.9.2.1 Force Sensors Market to Witness Significant Growth During Forecast Period
6.2.1.9.3 Flow Sensors
6.2.1.9.3.1 Flow Sensors to Witness Significant Demand due to Rising Adoption of Variable Rate Seeding
6.2.1.9.4 Moisture Sensors
6.2.1.9.4.1 Moisture Sensors Segment to Witness High Adoption for Efficient Irrigation Management
6.2.1.9.5 Temperature Sensors
6.2.1.9.5.1 Adoption of Temperature Sensors Increasing to Check Suitability of Soil for Planting
6.2.1.9.6 Nutrient Sensors
6.2.1.9.6.1 Nutrient Sensors Segment to Witness Highest Growth During Forecast Period
6.2.1.9.7 Others
6.2.1.9.8 Cameras
6.2.1.9.8.1 Cameras Segment to Witness Highest Growth During Forecast Period
6.2.1.9.9 Delivery Systems
6.2.1.9.9.1 Delivery Systems for Seeds and Fertilizers to Witness Robust Growth During Forecast Period
6.3 Software
6.3.1 SaaS
6.3.1.1 Increased Awareness to Result in High Demand for SaaS Model to Remotely Access Crucial Data
6.3.2 PaaS
6.3.2.1 Offers Customization Capability to Customers as Per Their Planting Requirements
6.3.3 Services
6.3.3.1 System Integration and Consulting Services
6.3.3.1.1 High Demand for Integration of Various Software and Hardware Equipment to Propel Market Growth
6.3.3.2 Managed Services
6.3.3.2.1 Farm Operation Services
6.3.3.2.1.1 Farm Operation Services Help Generate Records and Integrate Unstructured Data
6.3.3.2.2 Data Services
6.3.3.2.2.1 Rise in Number of Mobile Applications to Boost Demand
6.3.3.2.3 Analytics Services
6.3.3.2.3.1 Increased Demand for Real-Time Information to Spur Growth
6.3.3.3 Connectivity Services
6.3.3.3.1 Connectivity Services Market to Grow at Highest Growth Rate During Forecast Period
6.3.3.4 Assisted Professional Services
6.3.3.4.1 Assisted Professional Services Market to Grow Significantly During Forecast Period
7 Precision Planting Market, by System Type
7.1 Introduction
7.2 High-Speed Precision Planting Systems
7.2.1 High-Speed Precision Planting Systems to Witness High Adoption in Large Farms
7.3 Precision Air Seeders
7.3.1 Precision Air Seeders to Witness Strong Demand from Small and Medium-Sized Farms
7.4 Drones
7.4.1 Increased Need for Fast Reforestation to Propel Growth
8 Precision Planting Market, by Drive Type
8.1 Introduction
8.2 Electric Drive
8.2.1 Electric Drive Enables Seed Rate Control on Rough Fields
8.3 Hydraulic Drive
8.3.1 High Adoption of Hydraulic Drive-based Precision Planters and Seeding Systems Among Farmers or Growers
9 Precision Planting Market, by Application
9.1 Introduction
9.2 RoW Crops
9.2.1 High-Speed Precision Planters Used to Plant RoW Crops in Large Farms
9.3 Cereals, Oilseeds & Pulses
9.3.1 Precision Air Seeding Systems Cost-Effective to Plant Cereals, Oilseeds, and Pulses
9.4 Forestry
9.4.1 Drones Being Used for Reforestation Practices
10 Precision Planting Market, by Farm Size
10.1 Introduction
10.2 Below 400 Ha
10.2.1 Farmers Extensively Adopting Precision Planting Systems for Farms Below 400 Ha in Size
10.3 Above 400 Ha
10.3.1 Farm Automation Helped Farmers Significantly Cut Costs on Farms Over 400 Ha
11 Precision Planting Market, by Region
12 Competitive Landscape
12.1 Introduction
12.2 Strategies Adopted by Key Players
12.2.1 Overview of Strategies Adopted by Key Players in the Precision Planting Market
12.3 Market Share Analysis
12.4 Revenue Analysis
12.5 Company Evaluation Quadrant, 2021
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Participants
12.5.5 Company Footprint
12.6 Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix
12.6.1 Progressive Companies
12.6.2 Responsive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
12.7 Competitive Scenario and Trends
12.7.1 Precision Planting Market
12.7.1.1 Product Launches
12.7.1.2 Deals
12.7.1.3 Others
13 Company Profiles
13.1 Key Players
13.1.1 Deere & Company
13.1.2 Trimble Inc.
13.1.3 Cnh Industrial N.V.
13.1.4 Topcon Positioning Systems
13.1.5 Kinze Manufacturing Inc.
13.1.6 Precision Planting (Brand of Agco)
13.1.7 Buhler Industries Inc.
13.1.8 Vaderstad Industries Inc.
13.1.9 Stara S/A
13.1.10 Kasco Manufacturing Inc.
13.2 Other Players
13.2.1 Davimac Group
13.2.2 Morris Industries Ltd.
13.2.3 Seedmaster Manufacturing Inc.
13.2.4 The Climate Corporation
13.2.5 AG Leader Technology
13.2.6 Bourgault Industries Ltd.
13.2.7 Droneseed
13.2.8 Dendra Systems
13.2.9 Kubota Corporation
13.2.10 Hexagon Agriculture
13.2.11 Dickey-John Corporation
13.2.12 Monosem
13.2.13 White Planters (Brand of Agco)
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/4wr0gw
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