USD 7.04 billion Growth in Smart Farming Market Size with 39% Contribution from North America – Technavio – QNT Press Release


AGCO Corp., Bayer AG, and Deere and Co. Emerge as major participants

NEW YORK, Sept. 5, 2022 /PRNewswire/ — The latest market analysis report titled Smart Farming Market by Product, Application, and Geography – Forecast and Analysis 2022-2026 has been added to Technavio’s catalog. The report predicts the market to witness an accelerating growth momentum at a CAGR of 13.65%. The analysts at Technavio categorize the global smart farming market as a part of the global agricultural products market. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

For more insights on the scope and value chain analysis, Read a FREE Sample Report

Smart Farming Market Segmentation Highlights

  • Application
    • Soil And Crop Management: The smart farming market share growth in the soil and crop management segment will be significant during the forecast period. The use of smart farming is highly important in farming, as the overall management of farms manually is comparatively difficult. The condition of the crop can be affected by different parameters, such as temperature, humidity, climate, and damage caused by insects. Hence, due to this, the smart farming market for soil and crop management will be in demand in the forecast years.
    • Fleet Management
    • Storage And Irrigation Management
    • Indoor Farming
  • Product
    • Automation And Control Systems: Automation and control systems in agriculture are used for predictive management of the overall production of crops. The core of any automated control system is to regulate the processes that can occur during or after the sowing of crops. The introduction of wireless communication devices, feedback control systems, and real-time monitoring of crops helps farmers examine the crops effectively.
    • Smart Agriculture Equipment And Machinery
  • Geography
    • North America: 39% of the market’s growth will originate from North America during the forecast period. The US is the key market for smart farming in North America. Market growth in this region will be faster than the growth of the market in South America. The rapid adoption of smart farming tools and techniques will facilitate the smart farming market growth in North America over the forecast period.
    • Europe
    • APAC
    • MEA
    • South America

Request a FREE Sample Report for Segment-wise Insights and Regional Contribution

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of the pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Top 5 Smart Farming Market Players

Ag Leader Technology

The company offers smart farming solutions for growers seeking a cost-effective GPS receiver and designed for general mapping and AutoSwath functions.

AGCO Corp.

The company offers smart farming solutions which help customers improve uptime, machine optimization, fleet optimization, and decision support.

Bayer AG

The company offers smart farming solutions which include digital applications like Climate FieldView which enable farmers to collect and analyze data from their fields to help make better, more informed decisions that can also improve harvests.

Deere and Co.

The company offers smart farming solutions which help in collecting valuable information quickly and easily, so one can analyze it to make better decisions, or share it with advisors.

Farmers Edge Inc.

The company offers smart farming solutions by combining on-farm hardware, easy-to-use software, digital agronomy, AI-driven analytics, and support to growers that help farm data, manage risks and maximize returns.

Download a Sample Report PDF for Vendor-specific Insights and Regional Contribution

Smart Farming Market Dynamics

Rising availability of low-cost cloud services to Drive Growth

In smart farming, sensors and other monitoring tools are of great importance as they collect information about the soil, crop health, and environmental conditions that might affect the crops. The vast amount of information generated by these monitoring devices is collected in the cloud so that farmers can get easy access to the information they need. Moreover, the adoption rate of cloud technology is increasing at a high rate.

Big data in smart farming likely to Emerge as the Key Trend

Improvement in wireless communication in the agricultural field is leading to growth in production level. The improvements in functional safety and repair and maintenance of equipment in the field are giving rise to a crop production level. In addition, with the use of GPS trackers and sensors , granular data points on soil conditions and detailed information on wind and pesticide requirements can be conveyed to farmers.

Key Market Dynamics and their impact Analysis are now Available at Technavio. Download Sample PDF

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Smart Farming Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 13.65%

Market growth 2022-2026

$7.04 billion

Market structure

Fragmented

YoY growth (%)

12.52

Full story available on Benzinga.com



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