Smart Farming Market Growth Trends: Regional Breakdown, Type, Application, Restraints, and Key Players Forecast to 2031 - XAG, Ag Leader Technology, Inc., AgJunction Inc., Deere & Company

DataM Intelligence has released a new research report on the Smart Farming market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The Global Smart Farming Market reached US$ 11.12 billion in 2022 and is expected to reach US$ 22.45 billion by 2031, growing with a CAGR of 9.1% during the forecast period 2024-2031.

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Smart farming, also known as precision agriculture, refers to the use of advanced technologies and data-driven practices to enhance agricultural productivity, efficiency, and sustainability. It incorporates tools such as the Internet of Things (IoT), artificial intelligence (AI), drones, remote sensing, and data analytics to monitor and manage farming operations in real-time. Smart farming aims to optimize resource use, improve crop management, increase yield, and minimize environmental impact by enabling farmers to make informed decisions based on accurate data. This approach allows for better management of inputs like water, fertilizers, and pesticides, ultimately leading to more sustainable agricultural practices.

List of the Key Players in the Smart Farming Market:

XAG, Ag Leader Technology, Inc., AgJunction Inc., Deere & Company, Afimilk Agricultural Cooperative Ltd., DeLaval, AKVA Group, Aquabyte Inc., BouMatic LLC, and InnovaSea Systems, Inc

Key Developments:

In March 2023, PepsiCo partnered with Cropin, a leading global agri-tech company, to launch a crop and plot-level predictive intelligence model aimed at helping farmers maximize potato yields and quality through user-friendly mobile app dashboards. This precision agriculture initiative, branded under Lay's, is currently being piloted in demo farms located in Gujarat and Madhya Pradesh.

In June 2023, Magellanic Cloud, a Hyderabad-based company, unveiled a range of agricultural and logistics drones with varying capacities and operational ranges. These drones, proudly made in India, can operate autonomously without human guidance, with operational distances ranging from 5 km to 60 km and cargo capacities between 2 kg and 100 kg.

In August 2023, DeLaval launched its innovative E-series rotary milking system, designed to enhance milking efficiency, streamline worker routines, automate the selection and sorting of cows, and reduce stress on dairy cattle.

Research Process:

Both primary and secondary data sources have been used in the global Smart Farming Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Smart Farming Market:

By Agriculture Type: Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse,Others

By Offering: Hardware, Monitors, Controllers, Sensors, Software, Web Based, Cloud Based, Service, System Intergration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, Professional Services

By Solution: Network Management, Agriculture Asset Management, Smart Water Management, Logistics and Supply Chain Management, Others

By Farm Size: Small Farms, Medium Farms, Large Farms

By Distribution Channel: Company Stores, E-Commerce, Specialty Stores, Others

By Application: Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Feeding Management, Milk Harvesting, Fish Tracking, Others

By End-User: Livestock, Agriculture, Aquaculture

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Smart Farming market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Smart Farming Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Smart Farming market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Smart Farming Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Smart Farming market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Smart Farming market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Smart Farming market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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