The Middle East and Africa precision agriculture market size is expected to reach USD 1.25 billion in 2024 and reach USD 2.18 billion by 2029, growing at a CAGR of 11.7% from 2024 to 2029.
Precision agriculture is a modern-day agricultural practice that uses various appliances to observe and measure the variability in crops and enables farmers to respond to those changes. The major objective of precision agriculture is to make decision making regarding the management of farms and optimize the resources to be used.
The practice of precision farming is possible due to the introduction of Global Positioning Systems (GPS). The ability to locate precise positions made it easy to create spatial variability maps of soil humidity, nutrient levels, yield of crops, and topography of the land. This data can be used to reduce the wastage during resource distribution.
The availability of unmanned aerial vehicles, optimized returns for inputs, and sustainable farming are expected to propel the precision agriculture market. An increase in demand for new agricultural practices to increase productivity and the rapid growth of population are also driving the market growth. Unaffordable costs of equipment by farmers in middle- and low-income countries and lack of awareness among the farmers are the major restraining factors for the precision agriculture market.
Cloud-based software is rapidly gaining popularity and is the fastest-growing segment.
Guidance systems are the largest market segment, and they include GPS and GIS, which are essential in precision farming.
Irrigation management is expected to be the fastest-growing segment due to the increasing scarcity of water.
Based on geography, the market for precision agriculture is analyzed under the Middle East and Africa regions. This region offers a diverse and large agricultural market. Water scarcity in countries of Middle Eastern countries driving farmers towards the use of modern agricultural practices is expected to propel the market for precision agriculture in this region. Developing countries in the African region, such as South Africa, are rapidly adapting to the use of technology in agriculture, which is also expected to drive the market.
Major companies in the market for precision agriculture are Trimble, Inc. (U.S.), Deere & Company (U.S.), AJ Junction, Inc. (U.S.), Leica Geosystems (Switzerland), AgSmarts Inc., Monsanto Company, CropMetrics LLC and Dickey-John Corporation.
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