Asia-Pacific Precision Farming Market Forecast to 2031 - Regional Analysis - by Offering and Application

The Asia Pacific precision farming market was valued at US$ 2.33 billion in 2023 and is expected to reach US$ 6.90 billion by 2031; it is estimated to register a CAGR of 14.5% from 2023 to 2031.

Growing Demand for Agricultural Robots Boosts Asia Pacific Precision Farming Market

An agricultural robot is a robotic device that can advance agricultural processes by taking over many farmer’s duties that are labor-intensive. Agriculture robots make many applications faster, simpler, more precise, and effective. Driverless tractors, drones for data collection and crop monitoring, automated irrigation and harvesting, autonomous precision seedings, are a few of the frequently used agricultural robots for crop farming, soil management, and livestock production. Furthermore, various companies offer agricultural robots for farming, harvesting, picking, and weeding purposes. For example, Tortuga AgTech and Harvest Automation provide farm robots, while Harvest CROO offers harvesting robots.

Moreover, various companies continue to launch agricultural robots worldwide. For instance, Solinftec, a global leader in artificial intelligence solutions and sustainable agricultural practices, announced the launch of its Solix Sprayer Robot and that it is commercially available to farmers, cooperatives and Ag retailers. Thus, the growing adoption and launch of agricultural robots are expected to provide opportunities for the precision farming market growth during the forecast period.

Asia Pacific Precision Farming Market Overview

Key factors such as the increasing use of cloud-based technology, the adoption of modern farming techniques to enhance productivity, and the growing food demand drive the growth of precision agriculture in Asia Pacific. Additionally, government initiatives aimed at increasing the usage of modern technologies in agriculture are playing a significant role in propelling market growth. In many developing countries in Asia Pacific, the majority of farmers are smallholders who operate small farms crucial for food security in a few of the region's underprivileged areas. These farmers often rely on generic recommendations or historical information to make field decisions rather than using scientific data.

Precision agriculture is transforming the farming landscape for small-scale farmers in Asia Pacific, providing a wide range of advantages. Through the use of sophisticated methods such as mechanized planting, precise fertilizer application, accurate irrigation, and comprehensive pest control, farmers can enhance their use of resources, resulting in higher crop yields and improved land sustainability. Precision agriculture offers opportunities to address this by enabling farmers to make decisions based on data and optimize their agricultural production processes.

Asia Pacific Precision Farming Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Precision Farming Market Segmentation

The Asia Pacific precision farming market is categorized into offering, application, and country.

By offering, the Asia Pacific precision farming market is segmented into hardware, software, and services. The hardware segment held the largest share of the Asia Pacific precision farming market share in 2023.

In application, the Asia Pacific precision farming market is segmented into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and others. The yield monitoring segment held the largest share of the Asia Pacific precision farming market share in 2023.

• Based on country, the Asia Pacific precision farming market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China segment held the largest share of Asia Pacific precision farming market in 2023.

Ag Leader Technology, AGCO Corp, CNH Industrial NV, CropX Inc, Deere & Co, TeeJet Technologies, Topcon Corp, and Trimble Inc are some of the leading companies operating in the Asia Pacific precision farming market.

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