Latin America Precision Agriculture Market Growth Trends & Future Outlook 2028

Future Latin America Precision Agriculture Market: Key Dynamics, Size & Share Analysis

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.

Top Trend Impacting the Latin America Precision Agriculture Market Growth

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.

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Understanding the Core Segments in the Latin America Precision Agriculture Market

Latin America Precision Agriculture Market Size, Share & Industry Trends Analysis- By Offering (Hardware, Software, Services), 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.], By Country (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Rest of Latin America), By Company (Ag Smarts Inc., AGCO Corporation, BASF SE, Bayer, Cropmetrics LLC, Deere & Company, Leica Geosystem, Monsanto Company, Raven Industries, Inc., Topcon Corporation, Trimble Inc., Others

Geographical Analysis of the Latin America Precision Agriculture Market

Brazil
Mexico
Argentina
Colombia
Chile
Peru
Rest of Latin America

Of all the regions, Brazil dominates the market in Latin America during the forecast period.

Who Dominates the Latin America Precision Agriculture Market Insights on Key Industry Players?

Companies are strengthening their presence in the Latin America Precision Agriculture market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

Ag Smarts Inc.
AGCO Corporation
BASF SE
Bayer
Cropmetrics LLC
Deere & Company
Leica Geosystem
Monsanto Company
Raven Industries, Inc.
Topcon Corporation
Trimble Inc.
Others

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