Smart Farming Market to reach USD 24.97 Bn by 2029, emerging at a CAGR of 11.02 percent and forecast 2023-2029

Smart Farming Market Report Scope and Research Methodology

Maximize Market Research Pvt Ltd, a leading global market research company, has published its latest report on the Smart Farming Market, revealing a market value of $12.01 million in 2022. The report offers comprehensive insights into this dynamic industry, including market dynamics, drivers, restraints, and regional perspectives. It encompasses a wide array of market segments and key technologies shaping the future of smart farming.

The research methodology employed in this report leverages real-world data from 2022, and insights from major industry players across the globe. Past trends from the previous five years were considered, with special attention to the unique challenges posed by the global lockdown in 2020.

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Smart Farming Market Dynamics:

The global Smart Farming market is experiencing significant growth, primarily driven by the rapid adoption of artificial intelligence, analytics, sensors, and other emerging technologies within the agriculture sector. These advancements are boosting yields and enhancing the efficiency of resource use, contributing to environmental sustainability in crop cultivation. The farming sector plays a vital role in addressing climate change, with advanced technologies and machinery improving land cultivation, seed quality, irrigation, and fertilizer utilization.

With a steadily rising world population, there is an increasing demand for food and crops. As a result, farmers are turning to modern technologies, such as big data, cloud-based data services, livestock biometrics, agricultural robotics, GPS, and the Internet of Things, to reduce manual labor, optimize resource utilization, and increase crop yields.

Smart Farming Market Regional Insights:

North America: The North American region held the largest market share, accounting for 44.3% in 2022, with an expected CAGR of 9.81% during the forecast period. Government initiatives aimed at bolstering the agriculture industry are propelling the growth of the smart farming market in this region. The adoption of technologies like the Wide Area Augmentation System (WAAS) is contributing to this growth.

Asia Pacific: The Asia Pacific region is poised for significant growth at an undisclosed CAGR during the forecast period. The adoption of smart farming techniques, such as smart irrigation controllers and AI-based land analytics services in countries like China and India, is driving market expansion. In India, the agritech sector is booming, with over 450 startups, growing at a rate of 25% annually, particularly in precision-based sowing techniques.

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Smart Farming Market Segmentation:

by Farming Type

Precision Farming
Livestock Monitoring
Smart Greenhouse
Others

by Offering

Hardware
Software
Services

by Application

Irrigation Management
Yield Monitoring
Crop Scouting
Field Mapping
Weather tracking and forecasting
Inventory Management
Farm Labor Management

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Smart Farming Market Key Players:

1. John Deere
2. Trimble
3. Topcon Positioning Systems
4. DeLaval
5. AKVA
6. Antelliq
7. Afimilk
8. InnovaSea Systems
9. Heliospectra
10. LumiGroW
11. InnovaSea Systems
12. ABACO
13. Treemetrics
14. Raven Industries
15. AG Leader Technology
16. The Climate Corporation

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Table of content for the Smart Farming Market includes:

1. Global Smart Farming Market: Research Methodology

2. Global Smart Farming Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3.Global Smart Farming Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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About Maximize Market Research:

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