IMARC Group, a leading market research company, has recently releases report titled “Smart Agriculture Market Report by Agriculture Type (Precision Farming, Livestock Monitoring, Smart Greenhouse, and Others), Offering (Hardware, Software, Service), Farm Size (Small, Medium, Large), and Region 2023-2028”, Offers a comprehensive analysis of the industry, which comprises insights on the smart agriculture market share.
How Big is the Smart Agriculture Market?
The global smart agriculture market size reached US$ 15.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.68 Billion by 2028, exhibiting a growth rate (CAGR) of 9.33% during 2023-2028.
Industry Overview of Smart Agriculture
Smart agriculture, also known as precision agriculture, is a farming approach that integrates advanced technologies to optimize crop production and resource management. It comprises various technologies, such as artificial intelligence (AI), sensors, unmanned aerial vehicles (UAVs), big data, the internet of things (IoT), machine learning (ML), global positioning systems (GPS), and robotics. It provides data-driven insights and real-time monitoring to enhance the efficiency, sustainability, and productivity of agricultural operations. It allows farmers to make informed decisions to precisely allocate resources, such as water, fertilizers, and pesticides, that reduce waste and maximize yields. It assists in offering crucial information about soil conditions, weather patterns, crop health, and machinery performance. It aids in maximizing the utilization of resources, lowering environmental impact, and increasing transparency and visibility in farming activities. It is beneficial in eliminating the requirement of manual intervention and saves time and effort for farmers. As it helps in identifying early detection and diagnosis of soil and plants and improving the quality of food products, the demand for smart agriculture is rising across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/smart-agriculture-market/requestsample
What are the growth prospects and trends in the smart agriculture industry?
At present, the increasing preference for eco-friendly agricultural methods represents one of the major factors strengthening the growth of the market. Besides this, the growing demand for smart agriculture due to the rising focus on soil erosion around the world is offering a positive market outlook. In addition, the increasing popularity of autonomous farming machinery and robotics that streamline labor-intensive tasks, enhance operational efficiency, and reduce production costs, is providing lucrative growth opportunities to industry investors.
Apart from this, the widespread availability of internet connections that facilitate the seamless exchange of data between devices and platforms across the globe is bolstering the growth of the market. In line with this, the increasing integration of artificial intelligence (AI) and machine learning (ML) to interpret complex data patterns and make accurate predictions about crop growth and disease outbreaks is propelling the growth of the market. Moreover, the growing demand for higher crop yield in a cost-effective way among farmers around the world is positively influencing the market. Besides this, the rising demand for food products among the masses worldwide is supporting the growth of the market.
Additionally, the increasing adoption of smart agriculture, as it minimizes environmental impact while ensuring crop viability, is impelling the growth of the market. Furthermore, governing agencies of several countries are taking various initiatives to promote sustainable agriculture practices across the globe, which is contributing to the growth of the market.
Leading Companies Operating in the Global Smart Agriculture Industry:
- AG Leader Technology
- AGCO Corporation
- AgJunction Inc. (Kubota Corporation)
- CLAAS KGaA mbH
- CropMetrics LLC (CropX inc.)
- Deere & Company
- DICKEY-john
- Farmers Edge Inc.
- Gamaya
- Granular Inc. (Corteva Inc.)
- Raven Industries Inc. (CNH Industrial N.V.)
- Trimble Inc.
Smart Agriculture Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Agriculture Type:
- Precision Farming
- Livestock Monitoring
- Smart Greenhouse
- Others
Breakup by Offering:
- Hardware
- Software
- Service
Breakup by Farm Size:
- Small
- Medium
- Large
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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