Press release
Smart Agriculture Market size is estimated to reach $29.2 billion by 2027 with a CAGR of 9.7% from 2021 to 2027
According to a new report published by Report Ocean, titled, “Smart Agriculture Market by Type and Component: Opportunity Analysis and Industry Forecast, 2021–2027,” the global smart agriculture market size was valued at $16.7 billion in 2019, and is estimated to reach $29.2 billion by 2027 with a CAGR of 9.7% from 2021 to 2027. Smart agriculture enables farmers to minimize cost and the efforts associated agricultural activities. Moreover, smart agriculture increases productivity by guiding farmers to expertly invest both resources and time in the appropriate way to achieve and increase the yield production. Furthermore, increase in global population is the major reason for enhancing agriculture productivity. As per a UN report, in 2017, the global population was 7.6 billion, which is expected to grow to 8.6 billion by 2030 and 9.8 billion by 2050—an increase of 13% and 29%, respectively. Therefore, the farmers are increasingly adopting internet-based technology such as smartphone in their day-to-day activities, owing to data-driven methodology for optimizing and managing the production of farm which also results in boosting the growth of the smart agriculture market.GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1247
The technologies evolved in smart agriculture are used in remote research stations and refugee camp in flooded or earthquake affected areas. In such cases, various growth mechanisms used in agriculture help for artificial growth of crop in controlled environment. Moreover, the use of Internet of Things in components used in agriculture reduces the human intervention and tracks the growth of the crop. This in turn, reduces the labor cost and material wastage. Furthermore, farmers are adopting smart agriculture across the globe to maintain, monitor, and control proper soil moisture for better plant growth, quality, and overall yield, which is the major factor that drives the growth of the smart agriculture market. However, in developing nations like India, Brazil, and China, despite of technological advancement there is less attentive toward smart agriculture market trends. Moreover, current condition of agriculture is not satisfactory to produce maximum crop because of lack of skilled workforce and awareness among farmers regarding smart agriculture technology. In addition, farmers who are skilled are not ready to do farminsg and they are moving toward metro cities for the sake of job. Furthermore, there is no clear and unambiguous direction available in terms of financial and technical support from the Centre to the Panchayat levels which can provide full guidance or knowledge of using smart agriculture tools. Hence, lack of technical support and awareness among farmers is restricting the growth of the smart agriculture market.
COVID-19 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The outbreak of coronavirus has significantly impacted the smart agriculture industry along with all stages of supply chain and value chain such as labor and production inputs for the farm, national, and international transport of food and others. COVID-19 has further affected the consumer behavior with regards to purchasing smart agriculture care products globally. Ultimately, the decline in cultivation output as a consequence of labor and raw materials shortage and partial operations led to a decline in smart agriculture market.
Vertical farming is a revolutionary approach used to produce food in vertically stacked layers such as in a skyscraper, used warehouse, or shipping container. It facilitates huge quantity of nutritious and quality fresh food without relying on favorable weather, high water usage, skilled labor, and high soil fertility. Furthermore, there is an increase in the demand for vertical farming, owing to different factors such as optimum use of vertical space and balanced energy utilization and growing urban population, which requires organic food. In addition, surge in adoption of technology driven vertical farming in the developing countries is expected to provide lucrative opportunity for the market growth. Moreover, increase in population leads to rise in demand–supply gap for food. Thus, the need for alternative farming techniques such as vertical farming is expected to grow in the near future.
Key Findings Of The Study
By type, the precision farming segment dominated the global market in 2019, and is expected to retain its dominance throughout the smart agriculture market forecast period.
By component, the solution segment accounted for highest share in the smart agriculture market growth in 2019, and is projected to grow at a CAGR of 8.9% from 2021 to 2027.
By region, Asia-Pacific accounted for highest smart agriculture market share in 2019, and is expected to grow at a CAGR of 8.3%.
The key players operating in the smart agriculture market analysis include Trimble Inc., Deere & Company, Topcon Positioning Systems, DeLaval Inc., AgEagle Aerial Systems Inc., Afimilk Ltd, Raven Industries, Inc., Ag Junction LLC., AGCO Corporation, and GEA Group.
READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1247
Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Agriculture Market size is estimated to reach $29.2 billion by 2027 with a CAGR of 9.7% from 2021 to 2027 here
News-ID: 2247074 • Views: …
More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…

Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…

Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…

Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,…