United States Precision Farming Market Forecasts $3.42 Billion Valuation by 2031

The US Precision Farming market is expected to reach USD 3.42 billion by 2031, up from USD 1.92 billion in 2023, at a CAGR of 7.5% from 2023 to 2031.

The US precision farming market has been experiencing consistent growth over the past few years on the back of improved productivity needs, shortage of manpower, and increasing focus on cost reduction and environmental conservation. The market is supported by the presence of large and well-established players like AGCO Corporation, Deere & Company, Caterpillar, and Ag Leader Technologies that keep developing advanced products based on agriculture technologies. The increasing usage of sensor technologies, software platforms, and automation tools is driving market expansion as US farmers adopt digital approaches to better manage crops and resources. Additionally, organizations such as the American Society of Agricultural and Biological Engineers (ASABE) and the American Society of Agronomy (ASA) encourage the development of precision agriculture practices. Overall, the US precision farming market is likely to grow further, increasing its position in the global agricultural sector.

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Guidance technology segment to dominate the technology segment of the market during the forecast period.

Guidance technology is a key aspect of the US precision farming market, enabling for precise navigation of farm equipment to improve efficiency and reduce waste. GPS/GNSS guidance devices help farmers maximize planting, fertilization, and pesticide treatment to ensure precise coverage and eliminate overlap. The technology enables farmers to monitor soil condition, crop health, and production patterns in real time, allowing them to make more accurate decisions. By combining guidance systems with auto-steering and variable rate application technologies, farmers can become more operationally effective, less labor-dependent, and environmentally friendly. The US market is witnessing an ever-growing demand for precision farming solutions as large-scale operations aim at optimizing productivity and cost-cutting. With continuous innovations in geospatial technologies, guidance-enabled precision farming is set to further enhance the US market, leading to greater yields and effective farm management in diversified agricultural fields.

Weather tracking and forecasting segment to register the highest CAGR in the market during the forecast period.

Weather tracking and forecasting constitute an essential application segment of the US precision farming market, spurred by the increasing demand for real-time data-driven decision-making in agriculture. The segment uses cutting-edge technologies like weather stations, satellite imagery, sensors, and predictive analytics software to track major environmental parameters, such as temperature, humidity, precipitation, and solar radiation. These solutions enable farmers to optimize planting plans, irrigation cycles, and pest management strategies for higher crop yields and better resource utilization. Simple equipment like soil moisture sensors, UV sensors, and handheld weather probes are being integrated into precision farm systems to aid in proper weather analysis at the field. With unstable weather patterns impacting farm yields, farmers in the US are increasingly turning to these systems as a strategy to counter risk, diminish crop loss, and safeguard agricultural operations. Thus, the market for weather tracking and forecasting is expected to witness the fastest growth rate in the US precision farming market, to make it a strong player in enabling sustainable and resilient farm practice across the country.

Key Players

The report profiles key players such as include Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Raven Industries, Inc. (US), AgJunction LLC (US), AG Leader Technology (US), AgEagle Aerial Systems Inc (US), Topcon (US), TeeJet Technologies (US), and Climate LLC (US). These players have adopted various organic and inorganic growth strategies such as product launches, agreements, partnerships, acquisitions, and collaborations to strengthen their position in the market.