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Precision Agriculture Global Market Report 2023: Demand for Higher Crop Yields Bolsters Adoption



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Dublin, May 25, 2023 (GLOBE NEWSWIRE) — The “Precision Agriculture Market – A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis – Analysis and Forecast, 2022-2027” report has been added to’s offering.

The global precision agriculture market was valued at $7.89 billion in 2022 and is expected to reach $14.61 billion in 2027, following a CAGR of 13.12% during 2022-2027.

The growth in the global precision agriculture market is expected to be driven by increase in requirement for higher crop yield and a boost in investments in climate-smart agriculture practices.

Market Lifecycle Stage

The precision agriculture market is in a growing phase owing to different advanced technologies in the market. As increase in adoption of automated machineries and equipment, sensors and navigation systems, artificial intelligence, IoT, smartphones, robots, autonomous vehicles, and others. Hardware systems is the most important product used in the modern agriculture operations.


  • Precision agriculture is a modern approach to farm and farm management that uses information technology to ensure plants and soils receive exactly what they need for optimal health and productivity. The aim of precision agriculture is to ensure profitability, sustainability, and environmental protection. The precision agriculture industry is known as satellite farming, precision agriculture, demand farming and site-specific crop management (SSCM). Precision agriculture relies on specialized equipment, software, and IT services. The use of these precision agriculture technologies resulted in the increase in agriculture production with achieving sustainable goals.
  • The use of precision agriculture technologies has positive impact of agriculture operations. These technologies offer benefits such as increased efficiency & productivity, water saving, reduced costs, pest detection and animal health, better sustainability, and others. In addition, precision agriculture helps farmers better understand the important factors such as water, topography, orientation, vegetation, and soil types.

Market Segmentation

Segmentation 1: by Application

  • Field Monitoring
  • Crop Forecasting
  • Precision Planting
  • Precision Spraying
  • Precision Fertilization
  • Precision Irrigation
  • Farm Management
  • Others

The global precision agriculture market in the application segment is expected to be dominated by precision irrigation applications. This is owing to the rise in awareness towards use of water efficiently and reduce the wastage of nutrients, water, and chemicals. In addition, rise in demand for advanced irrigation systems paired with soil and water sensors are expected to generate higher returns than traditional irrigation systems.

Segmentation 2: by Product Type

  • Hardware Systems
  • Software
  • Services

The hardware systems segment is estimated to capture highest market share during the period 2022 to 2027. The hardware equipment is increasingly used in the various farming operations. In addition, Hardware solutions in precision agriculture include automation and control solutions, sensing and navigation solutions, and other hardware solutions such as probes and analysers. The rising demand for hardware solutions is because of the widespread use of yield monitors, handheld computers and mobiles, and agriculture cameras.

Segmentation 3: by Function

  • Farm Management
  • Field Management
  • Fleet Management

The field management captures major market share due to the usage of hardware such as sensors, drones, nozzles, cameras, smartphones, and tasks such as planting, spraying, fertilizing, and irrigation, among other activities. In addition, the field management software integrates sensor data and imaging input with other data, allowing farmers to identify fields that require treatment and verify the optimum amount of water, fertilizers, and pesticides to apply.

Segmentation 4: by Farm Produce

  • Field Crops
  • Permanent Crops
  • Others

Field crops capture a significant market share in the global precision agriculture market because these crops are grown for large-scale consumption. This is followed by permanent crops, which include fruits, vegetables, and nuts, among others.

Segmentation 5: by Technology

  • Guidance Technology
  • Sensing Technology
  • Variable Rate Application Technology
  • Data Analytics and Intelligence
  • Others

Guidance technology is a majorly used technology in the global precision agriculture market and registered the highest market share in the year 2021. The guidance technology comprises the global positioning system (GPS) and global navigation satellite system (GNSS) technologies applied in the agriculture industry for navigation purposes. It is followed by sensing technology. Sensing technology solutions are integrated with data analysis software that helps the farmers process the extracted farm information.

Segmentation 6: by Region

  • North America – U.S. and Canada
  • Europe – Germany, France, Italy, Spain, Netherlands, Denmark, and Rest-of-Europe
  • China
  • U.K.
  • Asia-Pacific and Japan – India, Japan, Australia and New Zealand (ANZ), Indonesia, Vietnam, Malaysia, and Rest-of-Asia-Pacific and Japan
  • Middle East & Africa – Israel, South Africa, Turkey, and Rest-of-Middle East & Africa
  • South America – Brazil, Argentina, Chile, Peru, Mexico, and Rest-of-South America

North America generated the highest revenue of $2,860.3 million in 2021. The region is experiencing an increase in adoption of precision agriculture technologies such as autonomous vehicles, software systems, guidance & navigation systems, agriculture sensors, and other automation & control systems. In addition, increase adoption of digital technologies for modern farm machineries in efficient crop production in the region along with rise in popularity of indoor farming owing to urbanization are expected to drive the market growth during the forecast period.

Recent Developments in the Global Precision Agriculture Market

  • In September 2022, Trimble Inc. acquired Bilberry, a France-based company specializing in selective spraying technology systems for sustainable farming. By this acquisition Trimble Inc. get access to Bilberry’s artificial intelligence (AI) technology that identifies a wide variety of weed species in real time for a broad range of crop types.
  • In February 2022, Trimble Inc. launched its Virtual Farm, an interactive online experience for farmers across the world to immerse themselves in precision agriculture. In this new online tool, users walk through a digital farm and identify common challenges they encounter daily.
  • In February 2022, Deere & Company opened a development facility in Austin, the U.S. that focus on developing software used in autonomous tractors that helps tractors use data from the cloud and GPS signals to take a precise and specific path.
  • In June 2022, Kubota Corporation partnered with the National Electronics and Computer Technology Center (NECTEC-NSTDA) to develop Thailand’s KAS Crop Calendar application, a rice crop calendar application powered by KUBOTA Agri Solution.

Demand – Drivers and Limitations

Following are the demand drivers for the Precision Agriculture Market:

  • Increasing Demand for Global Food Production
  • Need for Automation of Workforce in Agriculture
  • Surging Investment and Support in Climate-Smart Agriculture Practices
  • Need for Input Optimization in Agriculture

The market is expected to face some following challenges:

  • High Initial Investment
  • Threat to Data Security and Privacy
  • Lack of Awareness and IT Infrastructure in Developing Regions

How This Report Can Add Value to End-users

  • Product/Innovation Strategy: The product segment helps the reader understand the different types of hardware systems, software, and services available in the precision agriculture applications. Moreover, the study provides the reader a detailed understanding of the different product types by applications (field monitoring, crop forecasting, precision planting, precision spraying, precision fertilization, precision irrigation, farm management, and others). Hardware solutions such as automation & control systems, sensing & navigation systems, and indoor farming equipment are most widely used in modern agriculture practices. Therefore, the precision agriculture market is a moderate investment and high revenue generating product in the coming years owing to the rise in investment towards climate smart agriculture practices across the globe.
  • Growth/Marketing Strategy: The global precision agriculture market has seen major development by key players operating in the market, such as partnership, joint ventures, collaborations, and product developments. The favoured strategy for the companies has been partnership, joint venture, collaborations, and alliances to strengthen their positions in the precision agriculture market.
    • For instance, in June 2022, Kubota Corporation partnered up with the National Electronics and Computer Technology Center (NECTEC-NSTDA) to develop Thailand’s KAS Crop Calendar application, a rice crop calendar application powered by KUBOTA Agri Solution.
  • Competitive Strategy: Key players in the global precision agriculture market analysed and profiled in the study involve hardware systems and software manufacturers that are engaged in providing advanced precision agriculture solutions to farmers and other agriculture service companies. Moreover, a detailed competitive benchmarking of the players operating in the global precision agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company’s coverage, product portfolio, its market penetration.

The top segment players who are leading include key precision agriculture technologies manufacturers in the market and the ones which are engaged in providing modern precision technologies across the globe.

Key Companies Profiled

Company Type 1: Precision Agriculture Equipment Manufacturers

  • AGCO Corporation
  • CLAAS Group
  • CNH Industrial N.V.
  • Deere & Company
  • Hexagon Agriculture
  • Kubota Corporation
  • TeeJet Technologies
  • The Toro Company
  • Topcon Corporation
  • Yanmar Co. Ltd.

Company Type 2: Precision Agriculture Software and Service Providers

  • Accenture
  • Amazon Web Services, Inc.
  • Climate LLC
  • Granular Inc.
  • IBM Corporation
  • Microsoft Corporation
  • X Development LLC (Alphabet Inc.)

Key Questions Answered in the Report

  • What is the expected global precision agriculture market size in terms of value during 2022-2027?
  • What is the expected future scenario and revenue generated by different solutions, including software and platform, hardware, and support services?
  • What is the expected future scenario and revenue to be generated by the technology segment, including guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence?
  • What is the expected future scenario and revenue generated by different applications for precision agriculture solutions, including precision irrigation, field monitoring, spraying, fertilization, precision planting, and data management?
  • Which region is the largest market for the global precision agriculture market?
  • What is the expected future scenario and revenue generated by different regions and countries in the global precision agriculture market, such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
  • What is the competitive strength of the key players in the global precision agriculture market based on the analysis of their recent developments, product offerings, and regional presence?
  • Which are the different consortiums and associations present in the global precision agriculture market, and what are their roles, focus areas, and key functions in this market?
  • Where do the key precision agriculture companies lie in their competitive benchmarking based on market coverage and market potential?
  • What does the technology ecosystem of precision agriculture solutions constitute?

Key Attributes:

Report Attribute Details
No. of Pages 477
Forecast Period 2022 – 2027
Estimated Market Value (USD) in 2022 $7.89 Billion
Forecasted Market Value (USD) by 2027 $14.61 Billion
Compound Annual Growth Rate 13.1%
Regions Covered Global

Key Topics Covered:

1. Markets

2. Application

3. Product

4. Region

5. Markets – Competitive Benchmarking & Company Profiles

6. Research Methodology

For more information about this report visit

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Confluence former executive joins fintech Premialab




James Carrington, a former executive at Confluence, Investment Metrics, Style Analytics has joined fintech Premialab. He brings extensive client engagement expertise in investment analytics and data for the institutional investment community.
LONDON, Feb. 27, 2024 /PRNewswire/ — Premialab, the financial data and analytics firm, announced today the appointment of James Carrington as Head of Client Engagement. Mr. Carrington, based in London, will spearhead global client engagement, leveraging over 10 years of experience in driving client engagement gained at Investment Metrics, Style Analytics, and most recently at Confluence, part of the Clearlake Capital Group portfolio. His primary focus will be on enabling faster tailor-made investment analytics delivery and data integration for Premialab’s pension funds, foundations, endowments, and insurance clients.

Adrien Geliot, Co-Founder & Chief Executive Officer of Premialab, said, “I am delighted to welcome James to the team. His appointment confirms our commitment to delivering first-class service to our customers across global locations. His experience in maximizing the value derived from investment analytics will be invaluable in serving our clients as we continue scaling our activities worldwide.”
Commenting on his appointment, James Carrington said, “I am delighted to have joined the Premialab team. Their innovative solution makes a real difference to institutional investors looking at quant investments. The evolution of Premialab over the last number of years has been something that I have followed closely, and I am looking forward to working with the team to further support our customer base across our established and emerging demographics.”
The announcement follows recent senior appointments at Premialab, including Philippe Jacson, former BNP Paribas, Merrill Lynch and MSCI executive; Daniel Fields, former Global Head of Markets at Societe Generale; John Macpherson, former Managing Director at Goldman Sachs, Citibank, and Nomura; Marc Fisher, former Managing Director at Citibank with a prior position at Deutsche Bank; and Georgios Sittas, former Managing Director at HSBC, Standard Chartered, and previously a director at Lehman Brothers.
Recognized as the reference for data and risk analytics on quantitative strategies, Premialab’s capital markets infrastructure is currently used by leading asset managers, insurance companies and pensions funds, accelerating their digitalization and enhancing performance and risk control while reducing costs. The platform’s client AUM is representing an estimated USD$10 trillion.
About Premialab
Premialab is an independent platform providing data, analytics and risk solutions on systematic and factor-based strategies in collaboration with leading investment banks and institutional investors globally. Combining intelligent technology with a unique source of information the platform empowers asset allocators to make better investment decisions whilst achieving utmost time and cost efficiency.
With offices in London, Paris, New York, Hong Kong, Sydney, and Dubai, its international team is dedicated to supporting a global client base with the most up-to-date risk premia dataset, advanced portfolio construction, performance and risk analytics. The firm has established strong partnerships with the top 18 investments banks, global asset managers, pensions funds and insurance companies.

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Axon Technologies and Keyrus Announce Strategic Partnership to Elevate Cybersecurity Business




Keyrus Acquires Minority Stake in Axon Technologies, adding Axon’s Cybersecurity Portfolio to Keyrus Solutions, and Expanding Keyrus Reach across Middle East and Africa
PARIS and DUBAI, UAE, Feb. 27, 2024 /PRNewswire/ — In a significant development in the cybersecurity sector, Keyrus, an international leader in data intelligence and digital transformation, has announced the acquisition of a minority stake in Axon Technologies, a premier provider of cybersecurity services based in Dubai, UAE. This strategic investment marks a major milestone in Keyrus’ cybersecurity strategy, signalling an ambitious step towards establishing a global cybersecurity powerhouse.

Strategic Expansion and Enhanced Cybersecurity Solutions
The collaboration between Keyrus and Axon Technologies is set to revolutionize the cybersecurity landscape in the Middle East and Africa, particularly with Keyrus’ entry into the lucrative Saudi Arabian market. This move enables Keyrus to pursue its investment in a newly formed cybersecurity business, offering enhanced data security solutions to both existing and new clients.
Eric Cohen, Founder and CEO of Keyrus, expressed his enthusiasm: “This investment in Axon Technologies marks a significant step in our cybersecurity strategy. We’re embarking on an exciting journey to amplify our cybersecurity capabilities and establish a world-class global player in this domain. Axon Technologies’ innovative approach to consulting and managed services aligns perfectly with our vision and culture. We eagerly anticipate integrating Axon into our ecosystem to bolster our cybersecurity solutions and address the digital security challenges of our clients.”
Hadi Hosn, CEO of Axon Technologies, also shared his thoughts: “This partnership marks a new era for Axon Technologies, propelling us further in our mission to protect organizations from cyber threats. We admire the Keyrus vision and believe that our combined strengths will lead to disruptive data and cybersecurity solutions, addressing critical challenges in digital identity, application security, API, and data security across various environments and industries.”
Hadi Darwiche, Chairman of DIV Capital & Co-founder of Axon Technologies: “It’s gratifying to see Axon Technologies grow from a concept into a key player in the cybersecurity field. With Keyrus joining forces with us, we anticipate a period of sustained growth, leveraging our combined experience and established reputations. We are confident that together, Axon Technologies will continue to extend its market presence and deliver top-tier solutions.”
Comprehensive Cybersecurity Portfolio and Global Reach
In a relatively short period, Axon Technologies, founded in 2020, has emerged as a beacon of excellence and innovation in the cybersecurity field, demonstrating remarkable growth and agility in its operations. With a revenue of $3.2 million USD in 2023 and a projected substantial increase of the activities, it represents a testament to its robust business model, exceptional service delivery, and the trust clients place in Axon Technologies. The team made of 30 dedicated professionals is its most valuable asset. Axon Technologies commits to growing its team, fostering a culture of innovation, collaboration, and continuous learning.
Axon Technologies, renowned for its expertise in cybersecurity, will now be able to leverage Keyrus global presence and capabilities. With headquarters in Dubai and a significant footprint in the Middle East, Europe and Africa, Axon Technologies is well-positioned to monitor threats and support client cybersecurity programs across these regions effectively. With the backing of Keyrus’s global network, Axon Technologies is poised for unprecedented growth and are dedicated to setting new standards in the cybersecurity landscape.
The partnership is also expected to enhance the offerings of both companies. Axon Technologies’ expertise in Data Security, Cloud Security, DevSecOps and Managed Security Services aligns seamlessly with the Keyrus strategic objectives in digital, data, AI and cloud transformation initiatives.
About Axon Technologies
Axon Technologies offers comprehensive cybersecurity services including consulting, managed security services, engineering, and testing. The company is a leader in addressing critical infrastructure customers’ cybersecurity needs, from strategic consulting to hands-on management and technical security engineering support and managed security services, ensuring a robust and comprehensive approach to cybersecurity. The company’s service portfolio includes:
Technical Security Consulting & Advisory: Guidance and expertise for technical cybersecurity programs.Advanced Security Testing: Rigorous cybersecurity testing across the environment to identify and address vulnerabilities.Security Engineering & Architecture: Designing and implementing robust security architectures across on-premises and cloud environments.Managed Security Services: Ongoing management and support of cybersecurity operations. About Keyrus
Keyrus, an international player in the consulting and technology sectors and a specialist in data and digital technology, is dedicated to helping enterprises take advantage of the data and digital paradigm to enhance their performance, facilitate and accelerate their transformation, and generate new drivers of growth and competitiveness.
Placing innovation at the heart of its strategy, Keyrus develops a value proposition that is unique in the market and centred around five major service groups, each comprised of multiple solutions:
Automation and Artificial IntelligenceHuman-Centric Digital ExperienceData and Analytics enablementCloud and SecurityBusiness transformation and InnovationBuilding on the combined expertise of more than 3,500 employees active across 27 countries and 4 continents, Keyrus is one of the leading international experts in data, consulting and technology.
Keyrus is listed on Euronext Growth Paris. (ALKEY – ISIN Code: FR0004029411 – Reuters: KEYR.PA – Bloomberg: ALKEY: FP).
About DIV Capital
DIV Capital, originally starting as a family office, now operating as a strategic investment holding firm, specializing in bespoke advisory services. The firm focuses on fortifying family capital through comprehensive offerings that encompass support for early-stage enterprises, strategic asset allocation, and robust governance infrastructure development. The firm operates out of Geneva and Dubai and provides three core services:
Family Asset Support: Tailored support to construct an asset allocation that meets wealth goals.Family Financial Sponsorship: Reinforcement for family-operated businesses, aimed at fostering enduring value creation.Governance and Reporting: Consultation on governance frameworks and the enhancement of reporting standards for comprehensive asset oversight.Forward Looking Statements
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Axon Technologies, Keyrus or DIV Capital do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will the companies and the affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
Contact: [email protected]
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NDC Group and Valantic form a strategic partnership in EPM solutions




PRAGUE, Feb. 27, 2024 /PRNewswire/ — NDC Group, a leading company in enterprise performance management (EPM) consultancy and data analytics is pleased to announce a strategic partnership with valantic, renowned digital solutions, consulting, and tech innovation company. Through this partnership, the companies aim to offer a joint portfolio of solutions and services in SAP planning and analytics.

Central to this collaboration is the delivery of NDC Financial Consolidation, which offers an automated and streamlined approach to legal and managerial consolidation. While the solution draws inspiration from the concept and functions of previously popular SAP consolidation solutions, it utilizes the modern technologies to enhance automation, performance, user experience, and seamless data integration.
The partnership also gives the chance to offer additional products, including SAC workforce planning content, SAP BusinessObjects migration accelerators, and pre-built content for SAC financial planning. Overall, the combined expertise and product offering enhance the ability of both companies to support customers in driving data-driven transformations within their organizations.
Stefan Blinkmann, Head of SAP Analytics at valantic, emphasizes: “We are very pleased about our new partnership, and we are convinced that our customers will benefit greatly from it. Above all, the NDC Group’s products create added value in the area of consolidation based on SAP Analytics Cloud, and they expand valantic’s range of services. An integrated solution for reporting, planning, and consolidation in SAP Analytics Cloud provides multiple benefits for our customers and enables them to streamline their system landscape.”
Karel Jirik, Head of Products at NDC Group, is also convinced of the benefits of this collaboration: “Our partnership with valantic is an excellent opportunity to leverage the synergies between our teams to streamline and transform our customers’ data landscape. The jointly offered EPM solutions enable precise and swift decision-making and enhance operational efficiency, crucial elements in today’s competitive landscape. I’m particularly pleased we found a lot of commonalities with valantic, and I am convinced together we can deliver better solutions in a shorter time.”
Vladislav Stefanak, CEO of NDC Group, reflects on the partnership’s potential: “This partnership embodies my vision of equipping our clients with advanced functionalities reminiscent of those found in SAP BPC and SAP Financial Consolidation, yet significantly enhanced by leveraging top-tier SAP technologies. Our collaboration with valantic commenced with remarkable synergy from the outset, underpinned by their extensive expertise and knowledge base.”
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