The South and Central America precision farming market is expected to grow at a CAGR of 10.5% from 2023 to 2031, reaching a value of $1.33 billion by 2031. The market was valued at $597.88 million in 2023. The growth of the market is driven by the increasing adoption of agricultural robots, such as driverless tractors, drones, and automated irrigation systems. These robots make farming processes faster, simpler, and more precise. Companies such as Tortuga AgTech, Harvest Automation, and Solinftec are launching agricultural robots worldwide.
The precision farming market is segmented by product, including agricultural robots, precision irrigation systems, precision planters, and precision crop monitoring systems. The market also faces challenges such as high upfront costs and the need for specialized training.
The report provides an analysis of the competitive landscape, including major players such as AGCO Corp, CNH Industrial NV, Deere & Co, TeeJet Technologies, Topcon Corp, Trimble Inc, and others. The report is divided into 13 chapters, providing insights into the market size, segmentation, drivers, challenges, market trends, and vendor landscape.