Smart Farming Market Forecast Predicts Surge in Demand for Hardware Software and Connected Agricultural Services

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Smart Farming Market Size, Share & Trends Analysis Report By Application (Precision Farming, Livestock Monitoring & Management, Aquaculture) And Product Type (Hardware, Software, And Services)- Market Outlook And Industry Analysis 2034"

The global smart farming market is estimated to reach over 22.8 billion by the year 2034, exhibiting a CAGR of 17.2% during the forecast period.

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Key factors expected to drive demand over the forecast period include the rising automation of commercial greenhouse operations and the expanding adoption of Controlled Environment Agriculture (CEA) techniques, which are designed to optimize crop yields and maintain optimal growing conditions. The agricultural industry is undergoing a significant transformation, with a marked shift toward greenhouse-based cultivation, as commercial producers increasingly recognize the advantages of controlled growing environments.

A major development supporting this transition is the replacement of traditional lighting systems with energy-efficient LED grow lights. Although these systems involve higher upfront costs, they offer substantial long-term savings in operational expenses and are well-suited to integration with CEA technologies, making them an attractive solution for indoor farming. Additionally, the advancement of smart agriculture-driven by innovation and data-centric farming methodologies-is significantly enhancing crop productivity. Ongoing progress in digital technologies and their broader adoption are projected to further propel the expansion of the global smart agriculture market.

List of Prominent Players in the Smart Farming Market:
• Ag Leader Technology
• AgriCircle
• AGRIVI
• Agroptima S.L.
• AquaManager
• Augment
• BASF SE
• Cargill, Incorporated
• Climate LLC (Bayer AG)
• CNH Industrial N.V.
• Connecterra B.V.
• CropX, Inc.
• Deere & Company
• Ec2ce
• FarmFacts
• Hexagon Agriculture
• Intellias
• Kubota Corporation
• OneSoil
• Proagrica (LexisNexis Risk Solutions Group)
• Signify Holding
• Syngenta AG
• Topcon Corporation
• Trimble Inc.
• Yara International ASA
• 365FarmNet

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Market Dynamics
Drivers:
The global smart agriculture market is experiencing significant momentum, driven by proactive government initiatives across both developed and developing nations. Substantial investments in research and development (R&D) are being made to foster technological innovation aimed at improving agricultural efficiency and sustainability. Concurrently, private sector participants are intensifying their R&D efforts to introduce advanced smart farming solutions. This collective emphasis on innovation is expected to be a key catalyst for market expansion throughout the forecast period.

Challenges:
The success of smart agriculture is fundamentally dependent on the acquisition and analysis of sensitive operational data. However, the lack of standardized frameworks for data governance, security, and privacy presents a considerable obstacle. Concerns surrounding unauthorized data access, inadequate protection measures, and inconsistent data handling practices may hinder market penetration and impede widespread adoption of smart agricultural technologies.

Regional Trends:
North America is projected to retain its dominant position in the global smart agriculture market, supported by well-established policy frameworks and substantial government backing that incentivize the deployment of cutting-edge agricultural technologies. Financial support mechanisms, including subsidies and tax incentives, further encourage market growth in the region. Meanwhile, the Asia-Pacific region is anticipated to register robust growth, fueled by increasing governmental efforts to modernize agriculture through the integration of digital and automated solutions.

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Recent Developments:
• In March 2021, DeLaval introduced the RC700 and RC550 robot collectors for solid flooring with the purpose of improving cow comfort. They are capable of handling any manure intake technology.

Segmentation of Smart Farming Market-
By Application-
• Precision Farming
o Yield Monitoring and Crop Scouting or Forecasting
o Precision Planting
o Precision Spraying
o Precision Fertilization
o Precision Irrigation
o Farm Management
o Others
• Livestock Monitoring & Management
• Aquaculture
• Others
By Product-
• Hardware
• Software
o Software Type
 Farm Operation Management Software
 Hardware Control Application Software
 Data and Predictive Analytics Software
o Deployment Type
 On-Premises
 Cloud-Based
• Services
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/smart-farming-market/1660

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.