Table of Contents
Precision Farming Market Overview
Precision farming companies, or smart farming, utilize advanced technologies like GPS, GIS, drones, IoT sensors, and data analytics to optimize agricultural practices.
By precisely managing resources such as water, fertilizers, and pesticides, it increases efficiency, boosts crop yields, and promotes sustainability.
Precision farming also enables data-driven decision-making, reducing costs and improving overall farm management.
While the technology offers numerous benefits, such as higher productivity and reduced environmental impact, challenges include high initial costs, the need for technical expertise, and data management complexities.
Despite these hurdles, the continued development of precision farming technologies is expected to enhance global food production while minimizing environmental harm.
Market Drivers
The global precision farming market is driven by several key factors, including technological advancements in IoT, AI, and remote sensing, which enhance resource optimization and crop yields.
Climate change concerns and the need for sustainable farming practices further fuel the adoption of precision farming, as it reduces environmental impact by minimizing the use of water, fertilizers, and pesticides.
Additionally, rising global food demand and government initiatives promoting agricultural efficiency contribute to the market’s growth.
Economic benefits, such as cost savings and increased profitability, make precision farming an attractive option for farmers, driving further market expansion.
Market Size
The global precision farming market is forecasted to reach USD 33.2 billion by 2033, growing from USD 10.5 billion in 2023 at a 12.2% CAGR.
List of Major Companies
These are the top 10 companies operating in the Precision Farming Market:
Deere
Company Overview
| Establishment Year | 1837 |
| Headquarter | Moline, Illinois, U.S. |
| Key Management | John C. May (CEO) |
| Revenue (US$ Bn) | $ 61.2 Billion (2023) |
| Headcount | ~ 83,000 (2023) |
| Website | http://www.deere.com/ |
About Deere & Company
Deere & Company, a leading entity in the precision farming companies/sector, has consistently advanced agricultural technology to enhance productivity and sustainability.
The company’s precision agriculture solutions integrate advanced technologies such as GPS guidance, data analytics, and automation to optimize farming operations.
In 2023, Deere introduced the G5 family of displays and the JDLink™ M modem, aiming to make precision farming technology faster, more sophisticated, and cost-effective for farmers and contractors.
Additionally, Deere’s acquisition of Blue River Technology in 2017 has bolstered its capabilities in machine learning and computer vision, enabling more precise crop management. These strategic initiatives underscore Deere’s commitment to leading innovation in precision agriculture.
Geographical Presence
Deere & Company, commonly known as John Deere, operates a vast global network with manufacturing facilities across North America, South America, Europe, Asia, and Australia.
Key locations include the United States, Brazil, Germany, India, and China, among others. The company maintains an extensive sales and service network in over 30 countries.
In addition to its manufacturing footprint, John Deere has strengthened its market position through strategic acquisitions, such as the Wirtgen Group and Blue River Technology.
These global operations and partnerships reflect the company’s commitment to meeting the diverse needs of customers worldwide.
Recent Developments
- In October 2024, John Deere launched the Auto Pickup feature for skidders. It is integrated with TimberMatic Maps and streamlines production tracking and job progress monitoring.
- In October 2024, John Deere introduced the next-generation SmartGrade, which offers enhanced flexibility, ease of use, and performance, now available with both Leica and Topcon solutions.
Trimble
Company Overview
| Establishment Year | 1978 |
| Headquarter | Westminster, Colorado, U.S. |
| Key Management | Robert Painter (CEO) |
| Revenue (US$ Bn) | $ 3.8 B (2023) |
| Headcount | ~ 12,700 (2023) |
| Website | http://www.trimble.com/ |
About Trimble
Trimble Inc. has been a significant contributor to the precision farming companies/sector, offering advanced solutions that enhance agricultural productivity and efficiency.
In April 2024, Trimble and AGCO Corporation finalized a joint venture, forming PTx Trimble, to deliver mixed-fleet precision agriculture technologies.
This collaboration aims to provide farmers with seamless, easy-to-use solutions compatible with various equipment brands.
Additionally, Trimble has expanded its product portfolio with the introduction of the GFX-1260™ display, a 12-inch Android-based device designed to manage farming operations through the Precision-IQ™ interface.
These strategic initiatives underscore Trimble’s commitment to advancing precision agriculture through innovation and collaboration.
Geographical Presence
Trimble Inc., a global technology company, operates in over 150 countries with a strong presence in North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America. Its headquarters are located in Westminster, Colorado, with key operations in Sunnyvale, California.
The company also has significant operations across the EMEA region, including in Austria, France, Germany, the UK, and the UAE, as well as in Asia Pacific countries such as Australia, India, Japan, and Singapore, and Latin American markets like Brazil, Mexico, and Argentina.
A network of research and development centers, sales offices, and manufacturing facilities supports Trimble’s global reach.
Recent Developments
- In November 2024, Performance Food Group selected Trimble for fleet management, doubling its truck count from 4,000 to over 8,000 with Trimble’s in-cab technology.
- In November 2024, Trimble launched a free version of ProjectSight®, featuring AI and advanced tools to improve construction project management and enable real-time sharing of project information.
AGCO
Company Overview
| Establishment Year | 1990 |
| Headquarter | Duluth, Georgia, U.S. |
| Key Management | Eric Hansotia (CEO) |
| Revenue (US$ Bn) | $ 14.4 Billion (2023) |
| Headcount | ~ 27,900 (2023) |
| Website | http://www.agcocorp.com/ |
About AGCO
AGCO Corporation has advanced its precision farming companies’ capabilities through strategic initiatives.
In April 2024, AGCO launched PTx, a new brand representing its precision agriculture portfolio, combining technologies from Precision Planting and PTx Trimble to enhance farmers’ productivity and sustainability.
Additionally, in November 2023, AGCO announced the acquisition of FarmFacts’ digital assets, bolstering its farm management information systems and software development capabilities to serve farmers’ data management needs better.
These developments underscore AGCO’s commitment to providing innovative solutions in the precision farming sector.
Geographical Presence
AGCO Corporation, headquartered in Duluth, Georgia, has a significant global presence with operations spanning North America, South America, Europe, the Middle East, Asia-Pacific, and Africa.
The company’s sales are concentrated in Europe (52%) and North America (26%), with additional contributions from South America (16%) and Asia-Pacific and Africa (6%).
AGCO operates manufacturing facilities in several key regions, including the United States, Mexico, France, Germany, Italy, and Brazil, producing a wide range of agricultural machinery under brands such as Massey Ferguson, Fendt, and Valtra.
Its global dealer network consists of over 3,000 dealers, ensuring localized support and service across 60 countries.
Recent Development
- In November 2024, AGCO donated USD 50,000 to the Weathered But Strong: Hurricane Relief Fund, supporting farmers affected by Hurricane Helene. The initiative, led by over 40 Georgia agricultural organizations, aids recovery efforts.
- In November 2023, AGCO acquired digital assets from FarmFacts GmbH, a leader in Farm Management Information Software. This enhances AGCO’s FMIS offerings and software development for farming data management.
BASF
Company Overview
| Establishment Year | 1865 |
| Headquarter | Ludwigshafen, Germany |
| Key Management | Martin Brudermüller CEO) |
| Revenue (US$ Bn) | $ 92.9 Billion (2022) |
| Headcount | ~ 111,991 (2023) |
| Website | http://www.basf.com/ |
About BASF
BASF SE has significantly improved its precision farming companies’ capabilities through strategic partnerships and acquisitions.
In 2021, BASF Digital Farming and ZEN-NOH, Japan’s largest farming cooperative, began promoting precision agriculture technologies to support Japanese farmers in increasing yields and enhancing farm management efficiency.
Additionally, in May 2022, BASF acquired Horta S.r.l., an Italian company specializing in digital farming solutions, to strengthen its digital farming portfolio.
These initiatives underscore BASF’s commitment to integrating digital technologies into agriculture to promote sustainable farming practices.
Geographical Presence
BASF SE, headquartered in Ludwigshafen, Germany, operates in 93 countries with 234 production sites, including six Verbund sites.
Its largest concentration is in Europe, particularly in Germany, where its Ludwigshafen complex is the largest integrated chemical site in the world.
The company also has a strong presence in the Asia-Pacific region, notably in China and India, as well as in North America, with numerous facilities across the U.S., Canada, and Mexico.
In South America, BASF is active in Brazil and Argentina, while in Africa, it supports industrial development through local production and commercial operations. This global footprint enables BASF to serve customers in over 190 countries.
Recent Development
- In November 2024, BASF announced an investment to expand production capacity for its X3D® 3D printing technology for catalysts.
- In May 2022, BASF acquired Horta S.r.l., an Italian digital farming company, with Horta retaining its organization, management, and brand for business continuity.
Lindsay
Company Overview
| Establishment Year | 1955 |
| Headquarter | Omaha, Nebraska, United States |
| Key Management | Randy Wood (CEO) |
| Revenue (US$ Bn) | $ 770.7 M (2023) |
| Headcount | ~ 1,262 (2023) |
| Website | http://www.lindsay.com/ |
About Lindsay
Lindsay Corporation has strengthened its precision farming companies’ capabilities through strategic investments and technological innovations.
In January 2024, the company announced a $50 million investment to expand and modernize its manufacturing facility in Lindsay, Nebraska, aiming to enhance efficiency and product quality.
Additionally, in July 2023, Lindsay acquired FieldWise, LLC, a leader in subscription-based precision irrigation solutions, to broaden its digital agriculture offerings.
These developments underscore Lindsay’s commitment to advancing precision agriculture through strategic growth and innovation.
Geographical Presence
Lindsay Corporation, headquartered in Omaha, Nebraska, has a strong global presence, with operations across North America, South America, Europe, Africa, and the Asia-Pacific region.
The company provides irrigation solutions and infrastructure products tailored to the needs of diverse markets. In North America, it serves the U.S. and Canada, while in South America, it supports agricultural development.
In Europe, Africa, and the Asia-Pacific, Lindsay addresses regional agricultural and infrastructure challenges, leveraging its expertise to meet the specific demands of each area. This extensive geographical footprint enables Lindsay to serve its global clientele effectively.
Recent Developments
- In January 2024, Lindsay Corporation planned to invest over $50 million in its largest global manufacturing facility in Lindsay, Neb., over the next two years.
- In July 2023, Lindsay Corporation acquired FieldWise, LLC, enhancing its precision irrigation solutions and expanding its customer base.
Bayer
Company Overview
| Establishment Year | 1863 |
| Headquarter | Leverkusen, North Rhine-Westphalia, Germany |
| Key Management | Bill Anderson (CEO) |
| Revenue (US$ Bn) | $ 52.1 Billion (2022) |
| Headcount | ~ 101,369 (2022) |
| Website | http://www.bayer.com/ |
About Bayer
Bayer AG has bolstered its precision farming companies’ capabilities through strategic initiatives and technological innovations.
In November 2024, Bayer expanded its collaboration with Orbia’s Precision Agriculture business, Netafim, to develop digital farming solutions aimed at enhancing crop production and resource optimization.
Additionally, in June 2024, Bayer announced plans to launch ten blockbuster agricultural products over the next decade, each projected to generate over €500 million in sales, underscoring its commitment to innovation in agriculture.
Furthermore, Bayer has integrated artificial intelligence into its crop science division to expedite the discovery of new herbicides, addressing challenges such as herbicide resistance.
These developments highlight Bayer’s dedication to advancing precision farming through strategic partnerships and technological advancements.
Geographical Presence
Bayer AG, headquartered in Leverkusen, Germany, operates in over 80 countries worldwide. The company has a strong presence in the Europe, Middle East, and Africa (EMEA) region, with around 59,500 employees, primarily in Germany.
In North America, Bayer has a significant footprint, particularly in the U.S., where it operates across all business sectors and employs over 9,000 people.
The company also maintains a robust presence in Asia-Pacific, especially in China, where it operates 18 companies and employs around 2,800 people.
Bayer’s global reach is further enhanced through strategic investments in emerging markets, strengthening its market resilience.
Recent Developments
- In November 2024, Orbia’s Netafim and Bayer expanded their collaboration to offer digital farming solutions that enhance yields and reduce environmental impact.
- In June 2024, Bayer aimed to launch ten blockbuster products in the next decade, generating a peak sales potential of 32 billion euros, helping farmers boost production and support regenerative agriculture.
Raven
Company Overview
| Establishment Year | 1956 |
| Headquarter | Sioux Falls, South Dakota, US |
| Key Management | Daniel A. Rykhus (CEO) |
| Revenue (US$ Bn) | $ 348.4 Million (2023) |
| Headcount | ~ 1,290 (2023) |
| Website | http://ravenind.com/ |
About Raven
Raven Industries, Inc., a leader in precision farming companies technology, has significantly advanced its offerings through strategic initiatives.
In November 2021, CNH Industrial completed the acquisition of Raven Industries, enhancing its capabilities in precision agriculture.
In December 2022, Raven introduced two autonomous agriculture solutions: The Driver Assist Harvest and Driverless Tillage systems, aiming to improve efficiency and productivity in farming operations.
Additionally, in March 2023, Raven announced the strategic integration of Augmenta, enhancing its automated technology portfolio to provide more advanced precision farming solutions.
These developments underscore Raven’s commitment to advancing precision agriculture through innovation and strategic growth.
Geographical Presence
Raven Industries, Inc., headquartered in Sioux Falls, South Dakota, operates globally through its three main divisions: Applied Technology, Engineered Films, and Aerostar.
The company has a significant presence in North America, with facilities across the United States and Canada, and expanded its operations to Virginia in 2020.
In Europe, Raven serves markets in Switzerland, the Netherlands, and Belgium, while in Latin America, it operates in Brazil.
The company also has a presence in Australia. In 2021, Raven was acquired by CNH Industrial to enhance its precision agriculture capabilities and integrate its operations into CNH’s global network.
Recent Developments
- In March 2023, following CNH Industrial’s acquisition of Augmenta, Raven Industries integrated its machine vision technology, enhancing automated variable rate crop spraying.
- In November 2021, CNH Industrial completed its acquisition of Raven Industries, enhancing its digital transformation and building on a long-standing partnership.
Hexagon
Company Overview
| Establishment Year | 1979 |
| Headquarter | Stockholm, Sweden |
| Key Management | Ola Rollén (Chairman) |
| Revenue (US$ Bn) | $ 5.1 Billion (2022) |
| Headcount | ~ 24,000 (2022) |
| Website | https://hexagon.com/ |
About Hexagon
Hexagon AB has enhanced its precision farming companies’ capabilities through strategic initiatives and technological innovations. The company’s Agriculture division focuses on providing effective information technology solutions aimed at resource optimization and increased agricultural productivity.
In April 2022, Hexagon completed the acquisition of ETQ, a leading provider of SaaS-based quality management system software, enhancing its digital solutions portfolio.
Additionally, Hexagon offers a comprehensive suite of precision agriculture products designed to monitor and manage operations, automate machinery, and ensure quality and efficiency throughout various phases of the agricultural process.
These developments underscore Hexagon’s commitment to advancing precision farming through strategic growth and innovation.
Geographical Presence
Hexagon AB, a Swedish multinational technology company, operates globally across multiple regions, including Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.
Headquartered in Stockholm, Sweden, Hexagon specializes in geospatial solutions, industrial measurement, autonomous systems, and smart city technologies.
It has a significant presence in key markets such as the U.S., China, India, Germany, and Brazil, focusing on industries like manufacturing, automotive, aerospace, and urban planning.
The company’s diversified solutions cater to both private enterprises and government entities, with a strong emphasis on innovation through its global R&D and manufacturing facilities.
Recent Development
- In November 2024, Hexagon teamed up with Microsoft to host HxGN SDx2 on Azure, driving digital transformation in the industrial sector.
- In November 2024, Hexagon acquired Indurad and xtonomy to boost mining productivity, safety, and autonomy with radar and RTLS technologies.
Yara
Company Overview
| Establishment Year | 1905 |
| Headquarter | Oslo, Norway |
| Key Management | Svein Tore Holsether (CEO) |
| Revenue (US$ Bn) | $ 16.6 Billion (2022) |
| Headcount | ~ 17,800 (2022) |
| Website | http://www.yara.com/ |
About Yara International
Yara International has advanced its precision farming companies’ capabilities through strategic initiatives and technological innovations.
The company has developed several precision-agriculture solutions, building on over a century of crop nutrition experience and working closely with local farmers.
In May 2023, Yara announced plans to build a new global production plant for specialty crop nutrition products and biostimulants, aiming to increase yields and improve quality.
Additionally, Yara has introduced digital farming solutions that empower farmers to make informed decisions, optimize resources, and achieve greater yields while protecting the environment.
These developments underscore Yara’s commitment to advancing precision agriculture through innovation and strategic growth.
Geographical Presence
Yara International ASA, a leading global producer of nitrogen-based fertilizers, operates in over 140 countries with 26 production plants worldwide.
The company has a significant presence in regions such as North and South America, Europe, Africa, Asia, and the Middle East, with key operations in countries including the United States, Brazil, Norway, South Africa, India, and Qatar.
Yara’s strategic acquisitions, including Fertibras in Brazil and SaskFerco in Canada, have strengthened its market position.
The company also invests in research and development, focusing on sustainable agricultural practices and advanced crop nutrition solutions.
Recent Developments
- In May 2024, Yara International built one of the world’s largest plants for specialty crop nutrition and biostimulants to boost yields, improve quality, and support food security and climate action.
Granular
Company Overview
| Establishment Year | 2014 |
| Headquarter | San Francisco, California, U.S. |
| Key Management | Sid Gorham (CEO) |
| Revenue (US$ Bn) | $ 97.5 Million (2023) |
| Headcount | ~ 251 (2023) |
| Website | https://www.granular.ag/ |
About Granular
Granular Inc., established in 2014, has been a significant contributor to the precision farming companies/sector by providing software solutions that enhance farm management efficiency and profitability.
In 2017, the company was acquired by DuPont, which later became Corteva Agriscience, integrating Granular’s digital tools into its agricultural offerings.
In November 2022, Traction Ag, a cloud-based accounting software firm, acquired Granular Business from Corteva, rebranding it as Traction Enterprise Operations.
This acquisition expanded Traction Ag’s capabilities in field management data and information services, underscoring Granular’s ongoing influence in advancing precision agriculture through strategic developments.
Geographical Presence
Granular Inc., headquartered in San Francisco, California, is a leading agricultural software company providing farm management solutions.
It has expanded its presence with a regional office in Champaign, Illinois, which focuses on customer success, data science, and training.
Granular’s software solutions are utilized by farmers in several countries, including the United States, Canada, the United Kingdom, Germany, France, and Australia, allowing the company to serve a broad range of agricultural needs across diverse global markets.
Recent Developments
- In November 2022, Traction Ag expanded by acquiring Granular Business from Corteva, forming Traction Enterprise Operations to enhance field management data capabilities.
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