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. 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.
The report pays special attention to the key elements of the Smart Farming Market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
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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.
Key Highlights of 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.
Regional Analysis - The research report is an investigative study providing a conclusive view of the Smart farming business sphere by an in-depth segmentation of the market into key applications, types, and regions. These segments are analyzed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Smart farming industry in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa.
Emergen Research has segmented the global Smart Farming Market on the basis of farming type, offerings, application, and region:
Farming Type Outlook (Revenue, USD Billion; 2017-2027)
- Precision farming
- Livestock monitoring
- Smart greenhouse
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
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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