The article examines the trends in the digital transformation of agriculture towards precision production of industry-specific products using precision agriculture technologies based on Earth remote sensing data. These technologies are shown to be evolving from digitalization of individual operations to digitalization of an interconnected system integrating all operations, including operations of related industries. The problems of effective implementation of digital technologies in the Russian Federation, as well as the ways of their solution using complex, integration technologies, are analyzed. The author's mathematical model is presented for forecasting the economic effect of the Earth remote sensing data utilization in precision agriculture technologies, which have become one of the main drivers of the rapid agriculture development throughout the world. Possible options are discussed of how this model can be utilized for the purpose of a scientifically grounded approach to the development of such technologies in a country. © Published under licence by IOP Publishing Ltd.