At 11.4% CAGR, Middle East & Africa Precision Farming Market is Projected to be Worth US$ 1,729.28 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa precision farming market was valued at US$ 728.11 million in 2023 and is expected to reach US$ 1,729.28 million by 2031, registering a CAGR of 11.4% from 2023 to 2031. Surging global population and food demand and increasing reliance on smartphones are among the critical factors attributed to drive the Middle East & Africa precision farming market growth.

The rise in global population creates additional pressure on the food supply chain to produce more food efficiently. To overcome such challenges and enhance productivity, precision farming offers solutions that optimize agricultural practices, such as seeding, irrigation, fertilization, pest control, etc. Moreover, the rising population supports urbanization; this leads to the transformation of massive farming land into residential land. As a result, there is an increased need for larger yields from small amounts of land, where precision farming enables farmers to generate large amounts of yield precisely. Furthermore, according to the Food and Agriculture Organization (FAO), to successfully feed 9.1 billion people by 2050, the overall food production must increase by at least 70%. To achieve this goal, food production in developing countries needs to approximately double by 2050. This highlights substantial increases in the production of key commodities. For example, annual cereal production must grow by ~1 billion metric ton, while meat production must record growth of over 200 million metric ton to reach a total of 470 million metric ton. 72% of this cereal production is developing in countries, up from 58%. Thus, the surging global population and food demand fuels the precision farming market growth.

On the contrary, data privacy and security concerns hamper the growth of Middle East & Africa precision farming market.

By offering, the Middle East & Africa precision farming market is segmented into hardware, software, and services. The hardware segment held 60.6% share of Middle East & Africa precision farming market share in 2023, amassing US$ 441.53 million. It is projected to garner US$ 1,091.46 million by 2031 to register 12.0% CAGR during 2023–2031.

In application, the Middle East & Africa precision farming market is segmented into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and others. The yield monitoring segment held 26.7% share of Middle East & Africa precision farming market share in 2023, amassing US$ 194.40 million. It is projected to garner US$ 484.50 million by 2031 to register 12.1% CAGR during 2023–2031.

Based on country, the Middle East & Africa precision farming market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 38.9% share of Middle East & Africa precision farming market in 2023. It was assessed at US$ 283.02 million in 2023 and is likely to hit US$ 677.57 million by 2031, registering a CAGR of 11.5% during 2023–2031.

Key players operating in the Middle East & Africa precision farming market are Ag Leader Technology, AGCO Corp, AgJunction LLC, CNH Industrial NV, CropX Inc, Deere & Co, TeeJet Technologies, Topcon Corp, and Trimble Inc, among others.

• In 2024: Deere & Company announced it agreed with SpaceX to provide cutting-edge satellite communications (SATCOM) service to farmers. Utilizing the industry leading Starlink network, this solution will allow farmers facing rural connectivity challenges to fully leverage precision agriculture technologies. This partnership, an industry first, will enable John Deere customers to be more productive, profitable, and sustainable in their operations as they continue to provide food, fuel, and fiber for their communities and a growing global population.

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