Precision Farming Market size was valued at USD 6.8 Billion in 2024 and is projected to reach USD 13.6 Billion by 2033, exhibiting a CAGR of 8.3% from 2026 to 2033.
South Korea's precision farming market is projected to grow at a compound annual growth rate (CAGR) of 12.3% from 2022 to 2030, driven by technological advancements and government initiatives aimed at promoting sustainable agriculture.
Guidance Systems: Utilizing GPS and satellite systems to enhance field operations and reduce overlaps.
Remote Sensing: Employing drones and sensors for real-time crop monitoring and data collection.
Variable Rate Technology (VRT): Allowing for precise application of inputs like fertilizers and pesticides based on field variability.
The market is segmented by offerings into hardware (e.g., GPS receivers, sensors, drones), software (e.g., farm management systems), and services (e.g., data analytics, consulting).
Industries require precision farming solutions that offer:
Data-Driven Decision Making: Tools that provide actionable insights for crop management.
Resource Efficiency: Technologies that optimize the use of water, fertilizers, and pesticides.
Scalability: Systems adaptable to various farm sizes and types.
The South Korean government supports the adoption of precision farming through:
Subsidies: Financial incentives for purchasing precision farming equipment.
Research and Development: Funding for developing new agricultural technologies.
Training Programs: Educating farmers on the use of advanced farming technologies.
In my interactions with South Korean farmers, I've observed a growing interest in precision farming technologies. Farmers are particularly enthusiastic about tools that offer real-time data and analytics, enabling them to make informed decisions that enhance productivity and sustainability. The integration of these technologies has not only improved crop yields but also reduced environmental impact.
Overall, the precision farming market in South Korea is poised for significant growth, with industries and government working collaboratively to advance agricultural practices through technology.
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Deere & Company
Trimble
Agco
Agjunction
Raven Industries
AG Leader Technology
SST Development Group
Teejet Technologies
Topcon Positioning Systems
Dickey-John Corporation
Cropmetrics
Hexagon Agriculture
Granular
Prospera Technologies
Agribotix
Autocopter Corp
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Precision Farming Market
Satellite Imaging
Soil Sensors
Variable Rate Technology (VRT)
Autonomous Tractors and Drones
Farm Management Software (FMS)
Crop Management
Soil Management
Yield Monitoring
Water Management
Livestock Monitoring
Small Farms (Under 50 Acres)
Medium Farms (50 to 500 Acres)
Large Farms (Over 500 Acres)
Cereals and Grains
Fruits and Vegetables
Pulses
Oilseeds
Others (Including Flower and Ornamental Crops)
Farmers
Agrochemical Companies
Farm Equipment Manufacturers
Consultancy Services
Government and Regulatory Bodies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Precision Farming Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Precision Farming Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Precision Farming Market, By Type
6. South Korea Precision Farming Market, By Application
7. South Korea Precision Farming Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Precision Farming Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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