Precision Farming Market 2030: Hardware Powers 66% Market Dominance

The global precision farming market was valued at USD 11.67 billion in 2024 and is projected to reach USD 24.09 billion by 2030, expanding at a CAGR of 13.1% from 2025 to 2030. The market’s growth is primarily fueled by the rapid expansion of the Internet of Things (IoT) and the increasing adoption of advanced analytics by farmers.

Advanced analytics, a major component of data science, uses a suite of tools and techniques to predict key trends and ensure proper crop and soil management. This empowers farmers to make informed decisions and plan farm activities more effectively. Technologies such as IoT, GPS, and remote sensing are being widely deployed to enhance understanding of farm operations, including irrigation and plowing. IoT plays a pivotal role by providing real-time information on environmental temperature and soil moisture through field-based sensors. These insights guide farmers in determining optimal harvesting times, adjusting crop pricing, and improving soil management, making IoT one of the central drivers of precision agriculture adoption.

Additional factors supporting the uptake of sustainable agricultural technologies include better farmer education, improved access to information, financial assistance programs, and rising demand for organic food. Environmental degradation and resource depletion continue to challenge crop productivity, increasing the urgency for sustainable practices that conserve water, soil, and nutrients. This shift has heightened the need for advanced crop protection and nutritional strategies, propelling market expansion.

Emerging innovations—such as vertical farming to maximize yield while minimizing resource use—are opening new growth avenues. Investments in autonomous machinery, GPS-guided systems, and advanced sensing technologies are expected to further accelerate adoption. Soil, climate, and water sensors deployed across fields provide farmers real-time insights to optimize productivity and reduce losses. These sensor technologies are also gaining traction across several non-agricultural industries, including healthcare, automotive, pharmaceuticals, and sports, underscoring their broad applicability.

Order a free sample PDF of the Precision Farming Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

  • North America accounted for the largest revenue share of over 43.0% in 2024.
  • The U.S. precision farming market is expected to grow steadily due to favorable government initiatives.
  • By offering, the hardware segment dominated with over 66.0% market share in 2024.
  • By application, yield monitoring held the highest share at over 42.0% in 2024.

Market Size & Forecast

  • 2024 Market Size: USD 11.67 Billion
  • 2030 Projected Market Size: USD 24.09 Billion
  • CAGR (2025–2030): 13.1%
  • Largest Regional Market: North America

Key Precision Farming Company Insights

Leading market participants include Trimble, Inc., AGCO Corporation, Raven Industries Inc., and Deere & Company, each contributing significantly to technological advancements in the sector.

  • Deere & Company manufactures agricultural and forestry machinery, drivetrains, diesel engines, and a wide range of heavy equipment. Its offerings support sectors such as agriculture, construction, forestry, military, and turf care.
  • AGCO Corporation develops and sells tractors, combines, sprayers, hay tools, seeding equipment, tillage tools, and smart farming technologies.

Emerging players such as Prospera Technologies and Agrible, Inc. are also shaping the industry landscape.

  • Prospera Technologies provides AI-enabled sensors and imaging systems to enhance irrigation and crop health monitoring.
  • Agrible, Inc. supports farmers in more than 30 countries with solutions for water optimization, crop protection, farm operations, field trials, and sustainability initiatives.

Leading Precision Farming Companies

  • 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

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The precision farming market is poised for strong growth as farmers increasingly adopt digital tools to improve productivity, conserve resources, and manage environmental challenges. Technologies such as IoT, advanced analytics, GPS guidance, and sensing systems are transforming agricultural practices by providing real-time insights and enabling data-driven decisions. With North America leading adoption and global interest rising in sustainable and efficient farming methods, the market is expected to expand rapidly through 2030. Innovations in automation, vertical farming, and AI-driven solutions will continue to drive the next wave of growth in precision agriculture.

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