Smart Farming Market Report Analysis, Forecast, and Key Player Research | XAG, Ag Leader Technology, Inc., AgJunction Inc., Deere & Company

Smart Farming Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Smart Farming market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Smart Farming market from 2024 to 2031, and what is the market value expected to change by 2031?

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.

What is Smart Farming Market?

Smart Farming refers to the integration of advanced technologies and data-driven approaches in agricultural practices to enhance productivity, efficiency, and sustainability. This concept encompasses the use of Internet of Things (IoT) devices, sensors, drones, and artificial intelligence (AI) to monitor and manage crops, livestock, and resources in real time. Smart farming aims to optimize agricultural output while minimizing environmental impact, reducing resource consumption, and improving decision-making through data analysis. It is a transformative approach that modernizes traditional farming techniques, promoting precision agriculture and sustainable farming practices.

Growth Driver

The demand for precision farming is on the rise as farmers increasingly utilize advanced technologies to enhance crop efficiency, reduce waste, and maximize overall yield. Smart farming technologies provide farmers with accurate insights into their crops, enabling them to manage resources more effectively. This improved resource management is contributing to the growing adoption of smart farming practices.

Key Players:

Profiles of some of the major players in the global Smart Farming market, which include:

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

Industry Development:

In March 2023, Pepsico partnered with Cropin, a leading global agri-tech company, to develop a crop and plot-level predictive intelligence model aimed at helping farmers in India maximize potato yields and quality. This initiative, branded under Pepsico's "Lay's," features functional dashboards accessible via user-friendly mobile apps and is currently being piloted in demo farms in Gujarat and Madhya Pradesh.

In June 2023, Hyderabad-based Magellanic Cloud launched a range of agricultural and logistics drones designed for autonomous operation without human intervention. These Indian-made drones have operational ranges from 5 km to 60 km and can carry cargo payloads between 2 kg and 100 kg.

In August 2023, Delaval unveiled its innovative E-series rotary milking system, which enhances milking efficiency, streamlines worker routines, automates the selection and sorting of cows, and reduces stress on dairy cattle.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Smart Farming market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

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

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

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➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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