Smart Farming Market Growth, Recent Trends, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2027

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Vancouver, B.C., March 31, 2020 – 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.

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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.

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.

The latest market intelligence report, titled 'Global Smart Farming Market', is intended to provide the target audience with the necessary information about the global Smart Farming industry.

Key Highlights of the Smart Farming Market Report:

  • Increased adoption in the automation and control systems, such as GNSS/GPS receivers, guidance, and steering systems, irrigation controllers, has created a demand for the smart farming practice. A surge in the deployment of artificial intelligence and IoT has driven driving the demand for the hardware in the offering segment.
  • Precision Farming is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance productivity and crop yield.
  • Smart greenhouses, equipped with communication technologies and modern sensors, capture and deliver information on the crops and surrounding 24/7. The collected data helps in removing abnormalities and bottlenecks.
  • Key participants include Deere & Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation, among others.

The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter's Five Forces Analysis have been implemented by our analysts' team to evaluate the production and distribution capacities of the Smart Farming market players.

Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.emergenresearch.com/purchase-enquiry/2

The research study presents an industry-wide summary of the Smart Farming market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Smart Farming7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.

Segmental Analysis:

The Smart Farming market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.

  • 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

To get a discount on the Global Smart Farming Market report, visit: https://www.emergenresearch.com/request-discount/2

Regional Analysis:

Governments in North America are effectively giving sponsorships to empower the use of brilliant water system because of rising concerns relating to water preservation. Moreover, expanding government assets to create vertical homesteads are foreseen to drive the North American market.

The Smart Farming industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.

Major Geographies Analyzed in the Report:

  • 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)

Key Questions Answered in the Report:

  • What is the growth rate of the Smart Farming market? What is the anticipated market valuation of the Smart Farming industry by 2027?
  • What are the key growth driving and restraining factors of the Smart Farming market?
  • Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
  • What are the key opportunities and growth prospects of the Smart Farming industry over the forecast period?
  • Which region is expected to show significant growth in the coming years?

Read more: https://www.emergenresearch.com/industry-report/smart-farming-market

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