Precision Farming Market Size Is to Hit USD 11.2 Bn by 2028: Market Growth, Share, Demand, Solutions & Regional Analysis Forecast Report

Precision farming is an effective farming management system implemented to improve crop yield and reduce labor costs.

The Global Precision Farming Market was valued at USD 3.1 Bn in 2021. The market is projected to grow USD 11.2 Bn in 2028, at a CAGR of 25.2% Forecast period 2021 to 2028. Precision farming is a cutting-edge farming method that uses modern technology to help farmers boost production and save labor costs. Smart sensors, GPS, GNSS, auto-steering and guiding technology, and variable rate technology (VRT) are a few of the key technologies utilized in precision farming. They not only assist in lowering labor costs, but also ensure that resources are used efficiently and eliminate waste, which is more prevalent in conventional agricultural methods.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.extrapolate.com/sample/Agritech/precision-farming-market/25621?utm_source=Akshay&utm_id=8022

The rapid adoption of advanced technologies in precision farming to reduce labor costs, the increased use of Internet of Things (IoT) devices in agricultural fields, the substantial cost savings associated with precision farming, climate change and the need to meet rising food demand, and the increased promotion of precision farming techniques by governments globally are the most important factors influencing the growth of the precision farming market.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬-
• AeroFarms
• Signify
• BrightFarms
• Illumitex Inc
• Heliospectra AB
• Freight Farm
• SPREAD Co., Ltd
• OSRAM GmbH
• Urban Crop Solutions
• Cargill, Incorporated
• Plenty Unlimited Inc.
• Valoya
• BOWERY FARMING INC.
• Others

Precision farming enables farmers to precisely control field fluctuations, increase productivity, and reduce labor expenses. These methods aid in gathering relevant data to assist farmers in their agricultural activities and boost crop productivity with innovative IT-based agricultural methods. This is influencing rapid growth of the precision farming market in the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.extrapolate.com/enquire/Agritech/precision-farming-market/25621?utm_source=Akshay&utm_id=8022

A rapid increase in urban populations across the globe has increased dependency on agricultural innovations driven by technology. Effective integration of environmentally friendly methods to produce fruits and vegetables are aiding farmers to increase yield. The demand for urban agriculture has risen as organic foods are being consumed owing to their nutritional value as compared to conventional foods.

𝐓𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐅𝐚𝐫𝐦𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧-
𝐁𝐲 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞-
• Building-based
• Shipping Container-based

𝐁𝐲 𝐓𝐲𝐩𝐞-
• Hydroponics
• Aeroponics
• Aquaponics

𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭-
• Irrigation
• Lighting
• Sensor
• Climate Control
• Others

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧-
• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia

𝐁𝐫𝐨𝐰𝐬𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:https://www.extrapolate.com/Agritech/precision-farming-market/25621?utm_source=Akshay&utm_id=8022

𝐊𝐄𝐘 𝐈𝐍𝐃𝐔𝐒𝐓𝐑𝐘 𝐃𝐄𝐕𝐄𝐋𝐎𝐏𝐌𝐄𝐍𝐓𝐒:
August 2021- Aero-Farms has announced to expand to the Midwest region as part of a project with the World Wildlife Fund (WWF) to minimize the environmental footprint of indoor agriculture.

June 2021- Osram has expanded its business operation by launching Osconiq S 5050 white lighting to its horticulture portfolio.

The global Precision Farming market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific region is expected to dominate the market share owing to the organic food is in high demand in the region, which eats more than 75% of all veggies produced worldwide. The growth of indoor farming and organic food in the region is being fueled by a shift in customer preferences, followed by an increase in pollution, food scandals, and a rise in aversion. Some of the largest indoor vertical farms in the world are located in the region. Hong Kong is a highly populated island with limited farmland. Traditional farming produces insufficient quantities to meet local demand, hence the country is heavily reliant on imports.

However, Europe region is expected to witness highest growth rate during the forecast period of global precision farming market due to the increasing implementation of nanotechnology and robotics in farming. Nanotechnology aids in the improvement of food packaging as well as disease and insect control. The European Environment Agency has undertaken many attempts to construct vertical farms in order to address the difficulties of population expansion and climate change, as well as the production of food in an environmentally unfavorable manner. As a result, market demand in the region has increased.

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This release was published on openPR.