MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled Latin America Precision Agriculture Market Research Report: Forecast (2023-2028). This report provides a detailed assessment of the Latin America Precision Agriculture Market, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.
Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.
Market Timeline Overview
- Historical Years: 2018-21
- Base Years: 2022
- Forecast year - 2023-2028
This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.
In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2026 to 2032, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.
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Latin America Precision Agriculture Market Outlook
According to the report, The Latin America Precision Agriculture market is projected to grow at a CAGR of around 13.0% during the forecast period, i.e., 2023-28. It attributes to the factors such as the growing demand for exceptional crop production with limited resources & the upsurging population of the region with the scarcity of food. In recent years, the region's agricultural industry has undergone considerable changes. Latin America, with ample agricultural lands & a burgeoning populace, faces a daunting predicament.
The report also examines consumer preferences, regulatory impacts, and investment trends that will shape the market’s trajectory over the next decade.
Latin America Precision Agriculture Market Drivers:
Surging Government Initiatives to Support the Adoption of Modern Agriculture Technique - In recent times, there has been a marked surge in governmental endeavors aimed at bolstering Precision Agriculture in the Latin American region. This is due to escalating recognition of the potential benefits that these cutting-edge techniques can provide, including heightened productivity, reduced environmental impact, and reduced food security. It is a pioneering method that utilizes technology to streamline farming practices & augment productivity. The government provides a tax credit that can extend up to 20% of the expenditure incurred in implementing these methods such as variable-rate fertilization & pesticide application. This incentive propels farmers to embrace these techniques & invest in these technologies.
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Latin America Precision Agriculture Market Trends:
Advancement in Technology such as LIDAR-enabled Drones - The contemporary era has witnessed an innovative phase in the field of agriculture, and precision agriculture has emerged as a pivotal constituent of modern-day farming methodologies. Specifically, the assimilation of LIDAR-endowed unmanned aerial vehicles (UAVs) has had a momentous impact on the market. These UAVs are equipped with sensors that emit laser beams, which, when reflecting, generate an intricate three-dimensional model of the terrain. The data collected can be utilized to fabricate incredibly precise maps of crops & fields, thereby furnishing farmers with an abundance of invaluable insights on the most optimal planting, fertilizing, and irrigation techniques.
Latin America Precision Agriculture Market Segmentation
The study categorizes the Latin America Precision Agriculture Market into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.
By Offering
- Hardware
- Automation and Control System
- GPS/GNSS System
- Guidance and Steering System
- Flow and Application Rate Control Solutions
- Handheld Computers/ Mobile devices
- Agriculture Cameras
- Others
- Sensing and Monitoring
- Yield Monitors
- Sensing Systems
- Other Hardware
- Software
- Services
- Integration and Deployment
- Maintenance and Repair
- Other Services
- Automation and Control System
By Application
- Precision Irrigation
- Yield Monitoring
- Precision Spraying
- Precision Fertilization
- Precision Planting
- Data Management
By Crop Type
- Cereals & Grains
- Oil seeds & Pulses
- Fruits & Vegetables
- Others (Herbs, etc.)
Geographical Analysis
The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:
By Country
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Rest of Latin America
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Leading Companies in Latin America Precision Agriculture Market Worldwide: Players, Analysis & Future Outlook
Deere & Company, Trimble Inc., BASF SE, AGCO Corporation, Bayer, Ag Smart Inc., Topcon Corporation, Cropmetrics LLC, Raven Industries LLC, Leica Geosystem, Monsanto Company, and others are the top players in Latin America Precision Agriculture Market.
Key Highlights of the Report
- Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2023 to 2028.
- Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
- Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
- Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.
Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences
Browse through our flexible pricing plans and choose the package that best fits your business needs whether you require a single-user license, corporate access, or customized insights. Once you select the plan that suits your requirements, you can purchase and instantly access the full report online – https://www.marknteladvisors.com/pricing/latin-america-precision-agriculture-market.html
Frequently Asked Questions (FAQ)
1. What is the projected growth rate of the Latin America Precision Agriculture Market?
2. What are the major factors driving this market’s growth?
3. Which regions are expected to lead the Latin America Precision Agriculture Market?
4. Who are the prominent players in the Latin America Precision Agriculture Market?
5. How is the competition structured in this market?
6. How can I access the full report?
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MarkNtel Advisors is a leading research and consulting organization offering data-driven insights across the environmental sector, including environmental services, waste management, and water treatment solutions. Our studies evaluate technological advancements, regulatory frameworks, and infrastructure innovations shaping the sustainability agenda. Through Competitive Intelligence, we support clients in benchmarking performance, identifying eco-efficient opportunities, and achieving operational excellence aligned with global environmental standards and climate objectives.
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