Press release
Smart Agriculture Market Set for Rapid Expansion with High CAGR by 2024-2031 - AGCO, Ag Leader Technology, John Deere.
Smart Agriculture Market
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What is the projected growth rate (CAGR) of the Global Smart Agriculture market from 2024 to 2031, and what is the market value expected to change by 2031?
Global Smart Agriculture Market reached USD 22.6 billion in 2022 and is expected to reach USD 35.4 million by 2031 growing with a CAGR of 5.8% during the forecast period 2024-2031.
Smart agriculture, often referred to as precision agriculture, involves the use of advanced technologies to improve farming practices and increase productivity. This approach incorporates tools such as IoT devices, drones, sensors, and data analytics to monitor crop health, soil conditions, and weather patterns in real-time. By leveraging data-driven insights, farmers can make informed decisions regarding planting, irrigation, fertilization, and pest control, ultimately optimizing resource use and enhancing yield while minimizing environmental impact. Smart agriculture also supports sustainable practices by reducing waste and improving the efficiency of agricultural operations, making it a vital component of modern food production systems.
Key Developments:
❁ In September 2022, Deere & Company, a prominent American corporation, expanded its agricultural machinery offerings by introducing three new self-propelled forage harvesters. Designed with the needs of milk and livestock producers in mind, these advanced machines aim to enhance efficiency for farmers and contractors alike. The new harvesters address critical challenges such as reduced harvest windows and a shortage of experienced labor in the agricultural sector. By integrating innovative technology and design, Deere & Company's latest addition to its fleet is expected to support farmers in optimizing their forage harvesting operations.
List of the Key Players in the Smart Agriculture Market:
AGCO, Ag Leader Technology, John Deere, Raven Industries, Precision Planting LLC, Trimble, DeLaval, AgJunction, Agribotix, and The Climate Corporation.
Research Process:
Both primary and secondary data sources have been used in the global Smart Agriculture 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 Agriculture Market:
By Product: Management Information System, Remote Sensing Systems/ Sensors, Geographic Information Systems- GIS, Spatial Decision Support Systems- SDSS, Yield Mapping.
By Application: Precision Farming, Independent Restaurants, Livestock Monitoring, Yield & Soil Monitoring, Agricultural Drone, Farm Management, Smart Greenhouse & Irrigation, Others.
Regional Breakout:
The global Smart Agriculture Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
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Regional Analysis:
The global Smart Agriculture Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Smart Agriculture Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
**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:
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of New Zealand Food Testing and Certification manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Revenue of New Zealand Food Testing and Certification in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.
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Frequently Asked 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 Agriculture 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 Agriculture 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 Agriculture market?
What are the major opportunities that the companies can get to attain success in the world?
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Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
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