Smart Farming Market Size and Growth to reach USD 24.76 Billion By 2027 Exclusive Report by Emergen Research
Increasing pressure on the global food supply chain due to the fast-growing population is driving the demand for the market.
VANCOUVER, BRITISH COLUMBIA, CANADA, April 13, 2023 /EINPresswire.com/ — The latest report, titled ‘Global smart farming Market,’ comprises a profound analysis of the fundamental parameters contributing to the global smart farming market scenario. The research report provides the reader with an in-depth interpretation of the smart farming market dynamics, including the crucial drivers, opportunities, threats, and challenges.An increasing population is making farmers face 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. 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.
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.
Smart Farming Market By Farming Type (Livestock Monitoring, Precision Farming, Others), By Offerings (Software, Hardware, Others) and By Application (Livestock Monitoring Application, Precision Farming Application, Others), Forecasts to 2027
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Highlights from the Report
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.
Precision Farming is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance productivity and crop yield.
Smart greenhouses, equipped with communication technologies and modern sensors, capture and deliver information on the crops and surrounding 24/7. The collected data helps in removing abnormalities and bottlenecks.
Market overview
The report bifurcates the smart farming market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment
Competitive Landscape
The latest study provides an insightful analysis of the broad competitive landscape of the global smart farming market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global smart farming market and pinpoint the fundamental growth trends.
Key Features of the smart farming Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
Some major companies in the global market report include:
Deere & Company
Topcon Positioning Systems
Trimble, Inc.
DeLaval
Antelliq
Heliospectra,
Afimilk Ltd
InnovaSea Systems
AKVA group, and Nexus Corporation
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Regional analysis is an important component of a market research report, as it provides insights into how a particular market or industry varies across different geographic regions.
Key Geographies Profiled in the Report:
North America (the U.S., Mexico, and Canada)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Europe (the U.K., France, Germany, and Rest of Europe)
Latin America (Brazil and Rest of Latin America)
Middle East & Africa (GCC Countries and Rest of Middle East & Africa)
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Market segmentation
Farming Type Outlook (Revenue, USD Billion; 2017-2027)
Precision farming
Livestock monitoring
Smart greenhouse
Others
Offerings Outlook (Revenue, USD Billion; 2017-2027)
Hardware
Software
Services
Application Outlook (Revenue, USD Billion; 2017-2027)
Precision Farming Application
Livestock Monitoring Application
Precision Aquaculture Application
Smart Greenhouse Application
Precision Forestry Application
Report Highlights:
Besides offering a vivid depiction of the global smart farming business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
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