Smart Farming Market Size – USD 12.62 billion in 2019, Smart Farming Market Growth - CAGR of 8.8%, Smart Farming Market Trends – High demand in the automotive sector.
The global Smart Farming Market is expected to reach USD 24.76 Billion by 2027, according to a new report by Emergen Research. The smart farming industry is projected to be powered by factors such as steady population growth, low supply of cultivable land, subsidies from the government, and demand for new and high-quality food. Smart farming ensures high returns for the farmers when used to its potential. It aids in negating the side effects on the crops by the collection of geospatial data of livestock, soil, plants, and others. A rise in the adoption of livestock monitoring solutions in developing countries is propelling the growth of the market.
Modern farming methods face numerous obstacles, such as climate change, high labor costs. These drawbacks can be overcome by using technologies such as indoor LED farming, which creates a nature-like condition to help farmers meet the increasing demand for food. Increased adoption in the automation and control systems, such as GNSS/GPS receivers, guidance, and steering systems, irrigation controllers, has created a demand for the smart farming practice. A surge in the deployment of artificial intelligence and IoT has driven driving the demand for the hardware in the offering segment.
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Key Participants Include Deere Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation, among others.
Governments in North America are effectively giving sponsorships to empower the use of brilliant water system because of rising concerns relating to water preservation. Moreover, expanding government assets to create vertical homest eads are foreseen to drive the North American market.
The primary aim of the report is to offer precise information to the readers and investor and help them invest after understanding the market dynamics at glance. The report offers in depth information about the competitive landscape of the global Smart Farming market with extensive profiling of each market player with its global position, financial standing, business expansion plans, and license agreement. The report covers recent advancements, product developments, mergers and acquisitions, joint ventures, partnerships and collaborations. It also provides Porter’s Five Forces analysis and SWOT analysis for every market player.
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Application Outlook (Revenue, USD Billion; 2017-2027)
Precision Farming Application
Livestock Monitoring Application
Precision Aquaculture Application
Smart Greenhouse Application
Precision Forestry Application
Farming Type Outlook (Revenue, USD Billion; 2017-2027)
The global Smart Farming market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Smart Farming market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
A rise in the adoption of livestock monitoring solutions in developing countries is propelling the growth of the market. In addition, it is projected that consumer’s growing preference for healthy and fresh foods would drive demand growth over the forecast An increasing population is making farmers faces tremendous pressure to increase crop production either by making more land available to grow crops or by implementing newer techniques, such as smart farming and vertical farming. period.
Key points discussed in the report for Global Smart Farming Market:
Chapter 1: Introduction, market driving force product, Objectives of the Study, and Research Scope of the Smart Farming market
Chapter 2: Exclusive Summary –vital information of the Smart Farming Market.
Chapter 3: Market Dynamics- Drivers, Trends, and Challenges of the Smart Farming Market
Chapter 4: Smart Farming Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Market segmentation by Type, End-User and Region 2016-2018
Chapter 6: Analysis of the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 7 8: Appendix, Methodology and Data Source…Continued
Finally, Smart Farming Market is a valuable source of guidance for individuals and companies.
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