The precision planting market is estimated to be USD 3.6 billion in 2020 and projected to reach USD 4.6 billion by 2025, at a CAGR of 5.1%. The most significant factor driving the precision planting market is the increasing focus on farm efficiency and crop productivity due to the rising global population.

Precision planting has the potential to transform the agricultural sector by making traditional farming activities more efficient and predictable. The high demand for agricultural products due to population growth; increased adoption of VRT, remote sensing technology, and guidance technologies by farmers worldwide; and strong government support promoting the use of precision planting techniques are the major factors fueling the growth of the precision planting market.

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Hardware to hold largest market share during forecast period

The hardware segment is expected to continue to hold the largest share of the precision planting market from 2020 to 2025. The growth of this segment is attributed to the increasing adoption of automation and control devices, such as drones/unmanned aerial vehicles (UAV), GPS devices, control systems, guidance systems, delivery systems, and display systems. In precision planters, hardware such as delivery systems, control systems, seed meters, sensors, and GPS devices play a vital role in accurate seed placement and uniform distribution of seeds. GPS-based auto-guidance technology is used in agricultural vehicles to reduce the overlapping during the field mapping process, thereby saving fuel, labor, and time, and leading to soil compaction. The increasing adoption of advanced planting and seeding equipment with new features such as VRT and guidance systems for precision planting is expected to drive the growth of the precision planting market for hardware.

High-speed precision planting systems to hold largest market share between 2020 and 2025

The high-speed precision planting systems segment is expected to hold the largest share of the precision planting market in 2020, and a similar trend is likely to continue in the coming years. High RoI and growing awareness about the benefits of using these planting systems among farmers are the primary reasons for the largest market share of this segment. Precision planters with GPS-based auto-guidance technology allow growers to reduce the overlapping of seeds during the planting process, thereby substantially saving on the input costs.

North America to account for largest share in precision planting market from 2020 to 2025

North America is expected to account for the largest share of the precision planting market in 2020 owing to the presence of a substantial number of large farms and major players such as Deere & Company (US), AGCO Corporation (US), and Topcon Positioning Systems (US) in this region. These companies have contributed to the growth of the precision planting market by launching innovative products and services, and by extensively spending on the R&D of precision planting technologies. Further, countries in this region, such as the US and Canada, are the early adopters of precision planting technologies since these countries have a large number of progressive farmers with bigger farms.

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Market Players

The precision planting market is dominated by a few globally established players such as Deere & Company (US), Trimble, Inc. (US), AGCO Corporation (US), CNH Industrial (US), Topcon Positioning (US), and Kinze Manufacturing (US).