Meticulous Research®—a leading global market research company, published a research report titled, ‘Geographic Information Systems Market in Agriculture by Offering, Application (Soil & Agricultural Mapping, Crop Monitoring, Yield Prediction, Livestock Monitoring), Sub-sector (Crop Farming, Forestry, Livestock) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, Featured on Best Stocks, the geographic information systems market in agriculture is projected to reach $4.6 billion by 2030, at a CAGR of 12.9% during the forecast period.
The growth of the geographic information systems market in agriculture is driven by a surge in the demand for crop mapping solutions due to climatic changes, increasing concern for food quality, and increasing government initiatives in the agriculture sector. However, a lack of awareness & spatial intelligence expertise and dynamic government rules and regulations for the agriculture sector may restrain the market's growth.
Furthermore, the increasing adoption of cloud computing technologies and constant upgrades in mapping and navigation solutions are expected to offer significant growth opportunities for geographic information systems in the agriculture market. However, high initial investment costs and data privacy concerns may hinder the growth of this market.
Meticulous Research® has segmented this market based on offering, application, sub-sector, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on offering, in 2023, the solutions segment is expected to account for the larger share of the geographic information systems market in agriculture. The large market share of this segment is attributed to the rising demand for GIS software for better data analysis in agriculture and analyzing data and image processing for surveying purposes in agriculture.
Based on application, in 2023, the crop monitoring segment is expected to account for the largest share of the geographic information systems market in agriculture. The large market share of this segment is attributed to the growing demand for high-quality crops and the rising demand to access crop conditions to monitor water availability and temperature.
Based on sub-sector, in 2023, the crop farming segment is expected to account for the largest share of the geographic information systems market in agriculture. The large market share of this segment is attributed to the increasing use of data analytics to improve crop productivity, concern for food quality, and increasing demand for GIS solutions to track and visualize the growth and health of the crops.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the geographic information systems market in agriculture. The Asia-Pacific region's major market share can be attributed to the increasing government initiatives to implement spatial intelligence technologies across the agriculture sector and the increasing adoption of cloud computing technologies for precision farming in the region.
The key players operating in the geographic information systems market in agriculture are Hexagon AB (Sweden), Trimble Inc. (U.S.), Autodesk, Inc. (U.S.), Pitney Bowes Inc. (U.S.), Topcon Corporation (Japan), Hi-Target Surveying Instrument Co. Ltd. (China), Cadcorp Limited (U.K.), SuperMap Software Co., Ltd. (China), L3Harris Technologies, Inc. (U.S.), EOS Data Analytics, Inc. (U.S.), Caliper Corporation (U.S.), Precisely (U.S.), Takor Group Ltd. (Australia), Esri (U.S.), and Bentley Systems, Incorporated (U.S.).
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