$7.6bn
$X.Xbn
13,063
292
$X.Xbn
Precision agriculture systems and services have experienced substantial growth over the past five years. This growth is primarily driven by the increased adoption of IoT and smart devices, allowing farmers to optimize production efficiencies through real-time data on soil conditions, crop health and weather patterns. Despite initial disruptions from the COVID-19 pandemic, the industry demonstrated resilience due to technological advancements, improved agricultural markets and increasing demand for larger equipment. As a result, industry revenue has grown at a CAGR of 10.9% to $7.6 billion in 2024, with a 1.4% increase in 2024 alone. Advances in drone technology, precision farming software and data analytics have further contributed to this robust growth, enabling more precise and efficient farming practices.
Industry revenue has grown at a CAGR of 10.9 % over the past five years, to reach an estimated $7.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Trimble Inc. | 333.5 | 45.0 | 13.5 | |
Deere & Co | 113.5 | 15.1 | 13.3 | |
Raven Industries, Inc. | 106.5 | 10.1 | 9.4 |
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Industry revenue is measured across several distinct product and services lines, including Guidance systems, Yield monitors and Geographical information systems. Guidance systems is the largest segment of the Precision Agriculture Systems & Services in the US.
Precision agriculture guidance systems see enhanced accuracy and efficiency
Precision agriculture systems and services include software development, testing applications and consulting activities that gather, track and analyze agricultural data, usually in conjunction with other systems, such as harvesting or field-input machinery. Software and related systems may be packaged as individual units for sale to downstream markets or integrated into third-party products, such as farm machinery.
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NAICS 33311 - Precision Agriculture Systems & Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The integration of IoT and smart devices has significantly enhanced precision agriculture. This technology provides real-time data on soil conditions, crop health and weather...
Learn about an industry's products and services, markets and trends in international trade.
Advances in AI, IoT and machine learning are driving the adoption of precision agriculture technologies. These technologies optimize resource utilization and enhance producti...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Plains region is ideal for precision agriculture due to its vast arable land and robust infrastructure. These conditions support the implementation of advanced farming sy...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
High start-up costs and stringent regulations create significant barriers to entry into the precision agriculture market. New entrants must navigate complex legal requirement...
Learn about the performance of the top companies in the industry.
Trimble Inc. is at the forefront of the Precision Agriculture Systems and Services industry with its cutting-edge technology and solutions. The company has recently bolstered...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The USDA and other government programs offer substantial financial support for adopting precision agriculture technologies. This assistance makes advanced farming techniques ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The profit of precision agriculture systems has increased significantly due to growing demand and technological advancements. These advancements have improved efficiency and ...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Precision Agriculture Systems & Services in the US industry in United States is $7.6bn in 2024.
There are 292 businesses in the Precision Agriculture Systems & Services in the US industry in United States, which has grown at a CAGR of 12.9 % between 2019 and 2024.
The market size of the Precision Agriculture Systems & Services in the US industry in United States has been growing at a CAGR of 10.9 % between 2019 and 2024.
Over the next five years, the Precision Agriculture Systems & Services in the US industry in United States is expected to grow.
The biggest companies operating in the Precision Agriculture Systems & Services market in United States are Trimble Inc., Deere & Co and Raven Industries, Inc.
Geographical information systems development and Yield monitor development are part of the Precision Agriculture Systems & Services in the US industry.
The company holding the most market share in United States is Trimble Inc..
The level of competition is low and increasing in the Precision Agriculture Systems & Services in the US industry in United States.