Global Precision Planting Market Insights Forecasts to 2030

• The Global Precision Planting Market was valued at USD 4.67 billion in 2021
• The market is growing at a CAGR of 9.7% from 2021 to 2030
• The Worldwide Precision Planting Market size is expected to reach USD 10.78 billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

 

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The Global Precision Planting Market is anticipated to reach USD 10.78 billion by 2030, at a CAGR of 9.7% during the forecast period from 2022 to 2030. The substantial cost savings associated with precision planting and seeding equipment, the surge in the adoption of advanced technologies in precision agriculture to reduce labour costs, and the increasing promotion of precision planting techniques by governments worldwide are some of the primary drivers behind the expansion of the precision planting market. Furthermore, climate change and the need to meet rising food demand will foster the industry's growth in the near future.

 

Market Overview

Precision planting is an agricultural method that uses modern technology to plant seeds in the field at specific places, depths, and spacing. Precision planting aims to maximize crop yields by giving each seed the best chance of germinating and growing into a healthy plant. This can be accomplished in a variety of ways, including the use of specialized equipment that can precisely control the placement of seeds and fertilizer in the soil. Variable rate planting is a type of precision planting that uses GPS technology to map the field and determine the optimal planting rate for different areas. Precision planting focuses on developing intelligent solutions that, through the use of a unique and original methodology, improve planting, liquid application, and harvest activities on farms all over the world. This could be done by modifying existing equipment or by purchasing new equipment and incorporating Precision Planting techniques. The most favourable development in farm management made possible by Information and Communication Technologies (ICTs) this century is sustainable precision planting. This is the most recent technological breakthrough based on sustainable precision planting and the production of healthy foods, and it includes increased profitability and production, economic efficiency, and a reduction in environmental negative effects, which is driving this market's revenue growth.

 

Increasing emphasis on integrating geomapping and sensor data with planting equipment, increasing pressure on the agriculture industry to increase food production, increasing demand for precision planting due to benefits such as optimal plant growth and higher crop yield, significant cost-savings associated with precision planting and seeding equipment are some of the major and vital factors that will likely augment the growth of the precision planting market.

 

Some of the key players in the market are focusing on producing advanced agricultural equipment and machinery for agricultural use. For instance, in February 2022, Kinze Manufacturing has unveiled its new 3505 True Speed high-speed planter for the 2023 crop season, offering advanced technology and increased productivity to small farms and fields.

 

Report Coverage

This research report categorizes the market for the global precision planting market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the precision planting market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the precision planting market.

 

Driving Factors

Precision planting allows farmers to achieve seed uniformity and control over seed placement depth. They also protect crops from natural disasters by gathering real-time geospatial data on soil crop yield, weather conditions, and plant conditions, as well as other inter and intra-field data. Precision planting and seeding equipment also ensure that seeds, fertilizers, nutrients, herbicides, and pesticides are used efficiently, reducing the waste of valuable resources. Precision planting also makes use of mapping software, smart sensors, variable rate technology (VRT), yield mapping, and other techniques to boost crop yield while improving land fertility and profitability. Furthermore, precision planting and seeding equipment help reduce energy and fuel consumption by utilizing satellite guidance technologies in navigation applications, such as GPS or GIS. The introduction of precision planting with innovative features including controllers, smart connector systems, as well as liquid control and delivery systems has also aided in their adoption. These are the major factors to boost the market in the upcoming period.

 

Restraining Factors

Precision planting hardware is costly, which is a major market barrier. Precision planting requires the use of GPS, drones, GIS, VRT, and satellite devices, as well as skilled personnel, which incurs additional operating and maintenance costs. Running a precision planter costs more per acre than seeding with an air seeder or drilling with an opener drill. Farmers and growers require technical knowledge to effectively use precision planting equipment. As a result, poor farmers in developing countries like India, China, and Brazil fail to employ these tools and techniques.

 

Market Segmentation

 

The Global Precision Planting Market share is classified into system type, product & services, and technology.

• In 2021, the high speed precision planting system segment held the largest revenue share in the global precision planting market.

Based on the system type, the global precision planting market is differentiated into precision air seeders, high speed precision planting systems, drones, and others. Among these, the high speed precision planting system segment held the largest revenue share in the global precision planting market. The explanation for this rise is that high speed planting increases daily planting efficiency by allowing for the planting of more crops during constrained planting windows, which drives revenue growth in the segment. Farmers frequently choose high speed planting technology to maintain the size of their system hardware while planting more acres per hour with the same workforce.

 

• The hardware segment is expected to hold the largest share of the precision planting market over the study period.

Based on the product & services, the global precision planting market is classified into software, hardware, and others. Among these, the hardware segment is expected to hold the largest share of the precision planting market over the study period. The growing use of control and automation devices, including drones/unmanned aerial vehicles (UAV), guidance systems, GPS devices, control systems, display systems, and delivery systems, display systems, has aided in the growth of this segment. Hardware helps farmers by providing them with the tools they need for precise planting, as well as the control and automation of field management, data analysis techniques, and monitoring, allowing them to monitor, regulate, and optimize their farm operations.

 

The services segment is estimated to grow the fastest during the predicted period. The growth can be attributed due to software assisting farmers in precision planting, micro-plot tracking, crop monitoring, variable rate spraying, and other tasks, including calculating corn production, testing different mapping on the same research area, and optimizing input applications. Software-as-a-Service (SaaS) tools have been recognized as a possible strategy for reshaping the agriculture industry through advanced software solutions.

 

• Ground technology is anticipated to hold the largest share of the precision planting market during the projected period.

Based on the technology, the global precision planting market is categorized into aerial technology and ground technology. Among these, ground technology is expected to hold the largest share of the precision planting market during the forecast period. The growth can be attributed due to the ground-based technology allows farmers to collect real-time data with precise location information, making it ideal for mapping irrigation systems, crops, and roadways, identifying areas with damaged plants, and conducting soil tests in specific field areas. Farmers use sensors to collect data and electrochemical sensors to examine electrical soil characteristics, such as the quantity of potassium. Furthermore, mechanical sensors in contact with the ground can assess the classifications and densities of the elements. These are some of the main drivers of this segment's revenue growth.

 

Regional Segment Analysis of the Precision Planting Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is expected to hold the largest share of the market during the predicted timeframe.

 

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North America is anticipated to hold the largest share of the precision planting market during the period of study. Increased adoption of smart planting and farming methods, increased awareness of the benefits of modern agricultural solutions, and various government initiatives to promote the adoption of technology-based precision planting for higher yields and better productivity are driving revenue growth in North America. Farmers and agricultural service providers anticipate further advancements as GPS technology evolves. These factors are contributing to the market's revenue growth in this region. Furthermore, initiatives taken by multiple companies involving the incorporation of various technologies are driving revenue growth in this region.

 

Asia Pacific is anticipated to grow the fastest in the global precision planting market during the prediction period. This is due to factors such as increased government initiatives, rising demand for green agriculture, and the incorporation of various farming technologies, which are driving revenue growth in this region. Manufacturers are also taking various actions to enter this region as a result of factors such as high disposable income, growing population, and high reliance on agriculture. For instance, in December 2022, BASF has developed itself in Japan's rice-growing region by implementing artificial intelligence technology to help experienced farm owners compensate for labor shortages.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global precision planting market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Kinze Manufacturing, Inc.
• Ecorobotix SA
• Morris Industries Ltd.
• Precision Ag Solutions
• Precision Seeding Solutions
• Titan Machinery
• Bourgault Industries Ltd
• Väderstad Group
• CNH Industrial N.V.
• ICL
• FlyPard Analytics GmbH
• Trimble, Inc.
• Deere & Company
• AGCO Corporation
• Ag Leader Technology
• KUBOTA Corporation

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In January 2023, Precision Planting has introduced Panorama, their newest product. Panorama by Precision Planting enables farmers to better utilise collected data by allowing for simple uploads to their preferred platform. Panorama gives farmers an unobstructed view of the data collected in their cab, whether on the app or by moving data to their preferred platform.

 

• In August 2022, Precision Planting has announced the launch of Radicle Agronomic, a new generation of powerful tools for professional agronomists that allows them to abandon manual and error-prone processes and instead focus on agronomic issues that their farmer customers face.

 

• In October 2022, Trimble Inc. unveiled the Trimble GFX-1060 and GFX-1260 guidance displays, which are next-generation displays for precision agriculture applications. With these displays, farmers can map and monitor field information in real time with precision, as well as complete in-field operations quickly and efficiently.

 

• In February 2022, Case IH, a brand of CNH Industrials, introduced the 2150S Early Riser front-fold trailing planter to provide producers with a high-performance split-row configuration option to increase planting productivity.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Precision Planting Market based on the below-mentioned segments:

 

Global Precision Planting Market, By System Type

• Precision Air Seeders
• High Speed Precision Planting System
• Drones
• Others

 

Global Precision Planting Market, By Product & Services

• Software
• Hardware
• Others

 

Global Precision Planting Market, By Technology

• Aerial Technology
• Ground Technology

 

Global Precision Planting Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa