Smart Farming Market Overview
The global smart farming market is estimated to reach $33.0 billion in 2027, reveals the premium market intelligence study. The study also highlights that the market is set to witness a CAGR of 16.99% during the forecast period 2022-2027.
The approach of using information technology (IT), digital technologies, precision algorithms, and sensors to ensure optimum utilization of resources to achieve high crop yields and reduced operational costs is called smart farming. Smart farming agriculture technologies comprise specialized equipment, software, and IT services. Apart from the growing demand for food, there are several other microeconomic factors that are expected to contribute to the growth of the smart farming market.
USP of the Report
• Study on research & development projects
• Competitive study
• Market strategies & developments
• Patent analysis
• Case Studies
• Funding Analysis
• Government Programs and Regulatory Landscape
• Startup Landscape
Analyst Perspective
According to Debraj Chakraborty, Lead Analyst of the report, “The Smart Farming Market is expected to grow at a significant growth rate during the forecast period because of the growing need for more sustainable agricultural practices. Traditional farming practices can be resource-intensive, leading to waste and environmental damage. Smart farming technologies, such as precision irrigation and fertilization, can help to reduce waste and improve efficiency.”
Key Companies Operating in The Market
Key players in the global Smart Farming Market analysed and profiled in the study involve integrated hardware and software manufacturers that are engaged in providing advanced smart farming solutions to farmers and other agriculture service companies. Moreover, a detailed competitive benchmarking of the players operating in the global Smart Farming Market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include Ag Leader Technology, AGCO Corporation, CNH Industrial N.V., Deere & Company, Hexagon Agriculture, Kubota Corporation, Climate LLC, Trimble Inc., BASF SE, CropX inc.,Connecterra B.V., Naio Technologies, DJI, Signify Holding, Osram Licht AG, Afimilk Ltd., Allflex USA Inc., Nedap N.V., Cargill, Incorporated, GEA Group Ag, AKVA Group ASA, Eruvaka Technologies, and AquaManager
Key Questions Answered in the Report/h3>
• What is the expected global smart farming market size in terms of value during the period 2022-2027?
• What is the expected future scenario and revenue generated by the different types of products, including hardware and software?
• What is the expected future scenario and revenue generated by different application segments in the smart farming market, including precision farming, livestock monitoring and management, aquaculture, and others?
• Which region is the largest market for the global smart farming market?
• What are the expected future scenario and the revenue generated by different regions and countries in the global smart farming market, such as North America, Europe, the U.K., China, Asia-Pacific, and South America, and the Middle East and Africa?
• What is the competitive strength of the key players in the global smart farming market on the basis of the analysis of their recent developments, product offerings, and regional presence?
• What are the adoption scenarios, related opportunities, and challenges associated with the global smart farming market?
• What are the market dynamics of the global smart farming market?
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