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Increasing pressure on the global food supply chain due to the fast-growing population is driving the demand for the market.
VANCOUVER, BRITISH COLUMBIA, CANADA, September 14, 2022 /EINPresswire.com/ — The global Smart Farming Market is expected to reach USD 24.76 Billion by 2027, according to a new report by Emergen Research. The smart farming industry is projected to be powered by factors such as steady population growth, low supply of cultivable land, subsidies from the government, and demand for new and high-quality food.
Globally, smart farming is becoming increasingly popular since it increases the yield per unit of agricultural land to achieve the best results in terms of quantity, quality, and monetary returns. The use of technology improves decision-making, minimises waste, and increases operational efficiency.
Smart farming is the use of one or more technologies in the farming process to increase productivity and efficiency. It is an advanced and creative method of farming that maximises yield while minimising human labour. The use of hardware, services, and software in advanced technology is included in the farming process. The technology is used for managing irrigation systems, agricultural scouting, harvesting, sowing, and many other tasks.
Smart farming ensures high returns for the farmers when used to its potential. It aids in negating the side effects on the crops by the collection of geospatial data of livestock, soil, plants, and others. A rise in the adoption of livestock monitoring solutions in developing countries is propelling the growth of the market.
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An increasing population is making farmers face tremendous pressure to increase crop production either by making more land available to grow crops or by implementing newer techniques, such as smart farming and vertical farming. Modern farming methods face numerous obstacles, such as climate change, high labor costs. These drawbacks can be overcome by using technologies such as indoor LED farming, which creates a nature-like condition to help farmers meet the increasing demand for food. In addition, it is projected that consumer’s growing preference for healthy and fresh foods would drive demand growth over the forecast period.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The latest and updated research report on the Global Smart Farming Market covers a comprehensive overview of the Smart Farming market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Smart Farming market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Deere & Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation, among others.
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Furthermore, the report divides the Smart Farming market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global Smart Farming Market on the basis of farming type, offerings, application:
Farming Type Outlook (Revenue, USD Billion; 2017-2027)
Precision farming
Livestock monitoring
Smart greenhouse
Others
Offerings Outlook (Revenue, USD Billion; 2017-2027)
Hardware
Software
Services
Application Outlook (Revenue, USD Billion; 2017-2027)
Precision Farming Application
Livestock Monitoring Application
Precision Aquaculture Application
Smart Greenhouse Application
Precision Forestry Application
Others
Overview of the Smart Farming Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Smart Farming industry
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