Smart Farming Market to Exhibit a Noteworthy Growth of 33.69 Billion with Excellent CAGR of 12.86% by 2029, Size, Share, Key Growth Drivers, Applications and Opportunity Analysis
SYDNEY, Oct. 25, 2022 /PRNewswire/ -- Data Bridge Market Research published latest Smart Farming Market study by in-depth analysis about current scenario, the market size, demand, growth pattern, trends, and forecast. The Smart Farming market research report is absolutely fair and clear research report designed by masters by using top-notch research techniques and tools. SWOT Analysis and Porter's Five Forces analysis helps to find out the threats, opportunities, strength and weakness present in the Smart Farming market. The report is a careful examination of the Smart Farming market and gives bits of knowledge about noteworthy techniques, scope, chronicled data, and accurate data of the general market. It moreover joins foreseen bits of knowledge that are evaluated with the assistance of a sensible game plan of frameworks and speculations.
Data Bridge Market Research analyses that the Global Smart Farming Market was valued at USD 12.80 billion in 2021 and is expected to reach USD 33.69 billion by 2029, registering a CAGR of 12.86% during the forecast period of 2022-2029.
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Smart Farming Market Analysis:
Smart farming is defined as application of one or more than one technology in the farming process to gain more efficiency and effectiveness. It is the advanced and innovative way of doing farming to get the maximum output and to reduce the human efforts. Advance technology includes usage of hardware, service and software to the process of farming. The technology includes irrigation management, scouting of crops, harvesting, seeding and many more.
Smart farming is being widely adopted globally as it enhances the yield per unit of farming land to acquire best in terms of quantity, quality, and financial returns. The technology assists in better decision making, reduces waste and maximizes efficiency in operations.
Some of the major players operating in the smart farming market are:
- Grownetics
- Inc. (US)
- Auroras s.r.l. (Italy)
- Granular, Inc. (San Francisco)
- TOPCON CORPORATION (Japan)
- The Climate Corporation (US)
- Farmers Edge Inc (Canada)
- DICKEY-john. (US)
- Conservis (US)
- Ag Leader Technology. (US)
- Raven Industries, Inc. (US)
- Iteris, Inc. (US)
- Reed Business Information Ltd (US)
- AgJunction (Canada)
- Trimble Inc. (US)
Recent Developments
- DeLaval launched RC550 & RC700, a robot collector designed for solid floors in March'2021. These products enhance cow comfort and hoof condition. These robots are capable of handling manure without using additional water due to their unique rotary manure intake system.
- John Deere added a new Work Planner feature in January'2021 to help farmers in streamlining their work setup experience. They assist operators work more quickly in the field, and provides farmers with a holistic tool to manage their farms.
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Opportunities
Furthermore, use of unmanned aerial vehicles or drones in agricultural farms and popularity of land-based recirculating aquaculture systems extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in focus on integration of smartphones with agricultural hardware and software applications will further expand the market.
Important Facts about This Market Report:
- This research report reveals this business overview, product overview, market share, demand and supply ratio, supply chain analysis, and import/export details
- The smart farming Industry report captivates different approaches and procedures endorsed by the market key players to make crucial business decisions
- This research presents some parameters such as production value, marketing strategy analysis, Distributors/Traders and effect factors are also mentioned
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed
- The import and export details along with consumption value and production capability of every region is mentioned in the report
- Porter's five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth
- The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies
Smart Farming Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Key Industry Drivers:
- Use of Modern Technologies in Agricultural Products
The use of modern technologies such as variable rate technology (VRT), data management software, mapping software, yield mapping software, and GPS in agricultural products is one of the major factors driving the growth of smart farming market. These technologies improve land fertility and profitability, maximize productivity, reduce the cost of farming and facilitate sustainable agriculture.
- Availability of Low-Cost Sensors
The availability of various sensors such as load, temperature, and vibration accelerate the market growth. The on-going technological advancements in the semiconductor industry and intense competition among various manufacturers also drive the market growth.
- Concerns regarding Soil Erosion
The increase in the concerns regarding soil erosion encouraging farmers to adopt advanced agricultural technologies further influence the market. The status of soil condition plays a crucial role in decision making regarding sustainable soil management and appropriate land use that is acquired with the help of modern agricultural solutions.
Additionally, rapid urbanization, change in lifestyle, expansion of agricultural sector, surge in investments and increase in government initiatives positively impact the smart farming research
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Challenges Faced by Smart Farming Industry
On the other hand, high cost for development of modern agricultural equipment and fragmented agriculture industry are expected to obstruct market growth. Also, management of large volumes of data for productive decision making and environmental concerns are projected to challenge the smart farming market in the forecast period of 2022-2029.
Smart Farming Market Segmentations:
By Agriculture Type
- Precision Farming
- Livestock Monitoring
- Fish Farming
- Smart Greenhouse
By Software
- Web Based
- Cloud Based
By Service
- System Integration and Consulting
- Support and Maintenance
- Connectivity Services
- Managed Services
- Professional Services
By Solution
- Network Management
- Agriculture Asset Management
- Supervisory Control and Data Acquisition
- Logistics and Supply Chain Management
- Smart Water Management
Application
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking and Forecasting
- Irrigation Management
- Farm Labor Management
- Financial Management
- Feeding Management
- Milk Harvesting
- Breeding Management
- Fish Tracking and Fleet Navigation
- Water Quality Management
- HVAC Management
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Smart Farming Market Country Level Analysis
The countries covered in the Smart Farming market report are South Africa, Saudi Arabia, U.A.E., Egypt, Israel, the Rest of Middle East and Africa, U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina and Rest of South America. North America dominates globally due to rising demand for advanced technologies and software design and development.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Key Benefits of the report:
This study presents the analytical depiction of the global Smart Farming industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Smart Farming market share.
The current market is quantitatively analysed to highlight the global Smart Farming market growth scenario.
Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Smart Farming market analysis based on competitive intensity and how the competition will take shape in the coming years.
Table of Contents:
1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Smart Farming Market Regulations
6. Market Overview
7. Global Smart Farming Market, By Agriculture Type
8. Global Smart Farming Market, By Software
9. Global Smart Farming Market, By Service
10. Global Smart Farming Market, By Solution
11. Global Smart Farming Market, By Application
12. Global Smart Farming Market, By Region
13. Global Smart Farming Market: Company Landscape
14. SWOT Analyses
15. Company Profile
16. Questionnaires
17. Related Reports
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Browse Related Reports:
Precision Farming Software Market, By Delivery Model (Local/ Web- Based and Cloud- Based), Technology (Guidance System Technologies, Remote Sensing and Control System and Variable Rate Technology), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Inventory Management, Farm Labour Management, Financial Management and Others)- Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-precision-farming-software-market
Indoor Farming Technology Market, By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based and Hybrid), Facility Type (Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms and Indoor Deep Water Culture (DWC) Systems), Component (Hardware and Software and Services), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals and Others)- Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-indoor-farming-technology-market
Crop Scouting Precision Farming Market, By Offerings (Hardware, Software, Services), Technology (Guidance Technology, Remote Sensing Technology, Variable Rate Technology) – Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-crop-scouting-precision-farming-market
Variable Rate Precision Farming Market, By Offering (Hardware, Software, Services), Technology (Map-Based Variable Rate Technology, Sensor-Based Variable Rate Technology), Application (Precision Irrigation, Precision Seeding, Precision Fertilization, Pesticide Variable Rate Application) – Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-variable-rate-precision-farming-market
Asia-Pacific Vertical Farming Market, By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Biopesticides, Biofertilizer, Biostimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Component (Lighting, Hydroponic Component, Climate Control, Sensors), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines and Rest of Asia-Pacific) https://www.databridgemarketresearch.com/reports/asia-pacific-vertical-farming-market
Europe Vertical Farming Market, By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Biopesticides, Biofertilizer, Biostimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Component (Lighting, Hydroponic Component, Climate Control, Sensors), Country (Germany, U.K., France, Italy, Spain, Netherlands, Russia, Belgium, Switzerland, Turkey, and Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-vertical-farming-market
Middle East and Africa Vertical Farming Market, By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Bio pesticides, Bio fertilizer, Bio stimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Component (Lighting, Hydroponic Component, Climate Control, Sensors) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-vertical-farming-market
North America Vertical Farming Market, By Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Structure (Shipping Containers, Building Based), Type (Bio pesticides, Bio fertilizer, Bio stimulants), Crop Type (Leafy Green, Pollinated Plants, Nutraceutical Plant), Application (Indoor, Outdoor), Component (Lighting, Hydroponic Component, Climate Control, Sensors) https://www.databridgemarketresearch.com/reports/north-america-vertical-farming-market
Digital Farming Software Market, By Component (Software and Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity and Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management and Others), Country (U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Israel, Egypt and Rest of Middle East and Africa, Brazil, Argentina and Rest of South America) https://www.databridgemarketresearch.com/reports/global-digital-farming-software-market
Europe Digital Farming Software Market, By Component (Software and Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity and Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management and Others), Country (Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-digital-farming-software-market
North America Digital Farming Software Market, By Component (Software and Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity and Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management and Others), Country (U.S., Canada, and Mexico) https://www.databridgemarketresearch.com/reports/north-america-digital-farming-software-market
Smart Indoor Farming Market, By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based and Hybrid), Facility Type (Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms and Indoor Deep Water Culture (DWC) Systems), Component (Hardware and Software and Services), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals and Others), Country https://www.databridgemarketresearch.com/reports/global-smart-indoor-farming-market
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