According to a new report from Berg Insight, the global market for precision agriculture solutions is expected to grow from €5.5 billion in 2023 to €9.5 billion in 2028, at a CAGR of 11.6%. Precision farming practices involve using various technologies to manage variations in the field, maximize yield, increase productivity, and reduce input consumption. While solutions like auto-guidance and machine monitoring are widely adopted, technologies like farm equipment telematics and variable rate technology are not yet widely used, due to interoperability challenges. Major players in the market include Deere & Company, AGCO, CNH Industrial, Topcon Positioning Systems, and Hexagon. The agricultural drone market is growing rapidly, led by DJI, with an installed base of over 300,000 drones. The in-field sensor market is divided into environmental, pest, and water management segments, with Semios being the largest vendor. Autonomous technology is becoming increasingly important in farming, with major players like Deere & Company and AGCO aiming to deliver fully autonomous solutions by 2026 and 2030 respectively. Autonomous tractors, combine harvesters, and feed pushers are also being developed, with Kubota and Lely being recent examples. According to Berg Insight, autonomy will play a significant role in the future of farming.
Here’s a reworded version of the line: The global precision agriculture market is expected to surge to €9.5 billion by 2028, representing substantial growth potential.
