Decent yields: Farmers will use industry products to boost efficiency, but slow adoption rates may harm growth

Revenue for the Precision Agriculture Systems and Services industry is expected to grow. Due to increasing demand from crop farmers who have pushed to maximize crop output to meet growing global demand, industry growth has been strong over the five-year period. During the five years to 2022, steady growth is set to continue for the industry. Revenue is expected to grow in the five years 2022. The 2014 Farm Bill expanded support for small and beginning farmers with training and access to investment capital, which is expected to increase the available funds farmers have for precision agriculture equipment...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies

Industry Threats & Opportunities

  • Government incentives and technological innovations will support industry growth
  • Large multinational companies have encouraged the uptake of precision agriculture
  • As industry products become more advanced, those employed must become more specialized
  • Industry Report - Industry SWOT Analysis Chapter

    The Precision Agriculture Systems and Services industry has characteristics of a growing industry. First, the industry's value added (IVA), which measures the industry's overall contribution to the economy, is forecast to grow at an annualized rate of 7.9% over the 10 years to 2022. This rate far outpaces the annualized 2.1% increase in US GDP during the same period. The higher growth rate of IVA typically points to a growing industry because it is contributing an increasing share of wages and profit to the US economy each year.While farms in the Agribusiness industry (IBISWorld report NN004) have been keen to adopt efficiency-enhancing systems and practices, smaller farms that lack capital have been slower to invest. Mor...purchase to read more.

    Additional Insights for the Precision Agriculture Systems & Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Precision Agriculture Systems & Services Industry are

  • Ability to quickly adopt new technology
  • Development of a symbiotic relationship with another industry
  • Highly trained work force
  • IBISWorld analysts also discuss how external factors such as Demand from agribusiness and Demand from tractors and agricultural machinery manufacturing in the Precision Agriculture Systems & Services industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Precision Agriculture Systems & Services Industry?

    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.

    Industry Products
  • Yield monitors
  • Variable-rate application control systems
  • Guidance systems
  • Data management services
  • Geographical information systems
  • Soil Mapping systems
  • Industry Activities
  • Geographical information systems development
  • Yield monitor development
  • Variable-rate application controller development
  • Air and ground steering systems development
  • Technical support services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from agribusiness
  • Demand from tractors and agricultural machinery manufacturing
  • Price of semiconductor and electronic components
  • Government assistance
  • Technological change

  • Current Performance
  • Downstream demand
  • Government assistance
  • Technological advances
  • Profit and structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Corporate involvement and globalization
  • Regulation outlook
  • Profit and structural changes
  • Table: Precision Agriculture Systems & Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Precision Agriculture Systems & Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting
  • Agribusiness

  • Key Selling Industries
  • Communication Equipment Manufacturing

  • Products & Services
  • Yield monitors
  • Geographical information systems
  • Guidance systems
  • Variable-rate application control systems
  • Soil Mapping systems
  • Data management services
  • Chart: Precision Agriculture Systems & Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Agribusiness companies
  • Agricultural producers
  • Original equipment manufacturers (OEMs)
  • Chart: Major Market Segmentation for the Precision Agriculture Systems & Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Precision Agriculture Systems & Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Precision Agriculture Systems & Services Industry

  • Industry Globalization
    Trimble Inc., Deere & Company,
  • Table: Trimble Inc. - financial performance
  • Table: Deere & Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Precision Agriculture Systems & Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Precision Agriculture Systems & Services Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Demand from agribusiness (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Geographical Information Systems (Gis)
  • A data-collection system designed to reference specific points on the Earth's surface.
  • Global Positioning System (Gps)
  • The US Department of Defense's 24 Earth-orbiting satellites that can be used to assign map coordinates.
  • Yield Monitoring Systems
  • The measurement of area-specific yields using combine-mounted equipment.
  • What Our Customers Say

    Why buy this report?

    The Precision Agriculture Systems & Services Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Precision Agriculture Systems & Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Precision Agriculture Systems & Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Precision Agriculture Systems & Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.