Smart Farming Market: An In-Depth Look at the Current State and Future Outlook
The Smart Farming Market report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Smart Farming market. It provides a comprehensive evaluation of the global Smart Farming market from various perspectives to deliver a detailed, informative, and precise analysis of regional growth, competition, and market segmentation, among other factors. Moreover, it also gives an accurate account of the significant breakthroughs and developments that influence the global Smart Farming market. It also focuses on both the global as well as the regional expansion of the Smart Farming industry to give an overall analysis.
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.
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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others
Key participants include Deere & Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation, among others.
Some Key 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.
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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
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
Others
Regional Bifurcation of the Smart Farming Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Objectives of the Report:
Study of the global Smart Farming market size by key regions, types, and applications with reference to historical data (2017-2027) and forecast (2017-2027)
Industrial structure analysis of the Smart Farming market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Smart Farming market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Smart Farming market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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