Global precision ag market is on pace to grow by 13% by 2032
Precision ag technologies continue to evolve, and they are expected to be widely used for decades to come. A new study shows how much growth they have seen, and where they are expected to go over the next 10 years.
Data from Fact MR shows the global precision ag market is set to grow by 13 percent by 2032. With that growth, value is expected to land at more than $20 billion. From 2017 through 2021, the industry grew by 12 percent.
Research found guidance systems are a key player in the growth, taking in 41 percent of the total market revenue. The group says scarce resources and unpredictable weather is driving more demand for precision farm equipment.