Verified Market Research® is excited to announce the launch of its latest comprehensive market research report on the "Smart Agriculture Market - Trends, Opportunities, and Forecasts". The report provides a detailed analysis of the rapidly evolving smart agriculture sector, offering actionable insights and trends for industry leaders looking to stay ahead in this fast-growing market.
LEWES, Del., Sept. 17, 2024 /PRNewswire/ -- The Global Smart Agriculture Market Size is projected to grow at a CAGR of 10.30% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 17.74 Billion in 2024 and is expected to reach USD 38.86 Billion by the end of the forecast period.
As the global agricultural landscape shifts towards precision farming and sustainable practices, smart agriculture technologies are at the forefront of this transformation. From advanced IoT sensors, automated machinery, and data analytics to AI-driven crop management systems, smart agriculture is reshaping traditional farming by improving efficiency, reducing resource consumption, and boosting yields.
Key Features of the Report:
- In-depth Market Analysis: A thorough examination of the current market size, projections, and growth drivers shaping the smart agriculture sector.
- Technological Innovations: Comprehensive coverage of the latest advancements in smart farming technologies, including IoT integration, drones, robotics, and data-driven farming solutions.
- Regional Insights: Detailed analysis of key markets across North America, Europe, Asia-Pacific, and other emerging regions.
- Competitive Landscape: Profiles of key industry players, market strategies, and their innovations driving the future of smart agriculture.
Why This Report Matters: Agricultural leaders, technology providers, and investors are all seeking to harness the benefits of smart agriculture solutions to address the global challenges of food security, resource optimization, and sustainability. This report provides a roadmap for companies looking to capitalize on these opportunities, highlighting key market trends, investment potential, and strategic growth areas.
Who Should Read This Report:
- Agribusiness Leaders: Looking to implement cutting-edge technologies for operational efficiency and sustainability.
- Technology Providers: Offering smart solutions and tools for precision farming, irrigation systems, and automated equipment.
- Investors & Venture Capitalists: Seeking to identify high-growth opportunities within the agritech space.
- Policy Makers & Regulators: Interested in understanding the evolving dynamics of sustainable agriculture practices.
The Smart Agriculture Market Report is an essential resource for organizations looking to gain a competitive edge in this transformative industry. Don't miss out on key opportunities-equip your business with the insights you need to drive innovation and growth.
For more information or to purchase the report, please contact us at: https://www.verifiedmarketresearch.com/download-sample?rid=9635
Browse in-depth TOC on "Global Smart Agriculture Market Size"
202 - Pages
126 - Tables
37 - Figures
Report Scope
REPORT ATTRIBUTES | DETAILS |
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Deere & Company, Trimble, Inc., AGCO Corporation, Topcon Positioning Systems, Raven Industries, Bayer AG, CNH Industrial N.V., Kubota Corporation, Afimilk Ltd., AgJunction, Inc., AgeEagle Aerial Systems, Inc., DeLaval, ETwater, Gamaya, LumiGrow, Inc., and The Climate Corporation. |
SEGMENTS COVERED | By Offering, By Agriculture Type, By Farm Size, By Application, and By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst's working days) with purchase. Addition or alteration to country, regional & segment scope |
Global Smart Agriculture Market Overview
Growing Need for Sustainable Farming Solutions: The Smart Agriculture Market is driven by the rising need for sustainable agricultural techniques. As global food demand increases, precision agriculture technologies such as IoT and AI enhance resource efficiency, augmenting yields while minimizing water and pesticide usage. Agritech enterprises can leverage the increasing trend towards sustainability to enhance revenue through creative solutions.
Technological Advancements in IoT and AI: Technological advancements in IoT sensors, drones, and AI-driven data analytics are significant catalysts in the Smart Agriculture Market. These developments facilitate real-time surveillance and accuracy in crop management, soil health, and irrigation systems. Companies that incorporate these advanced technologies into their products are strategically positioned to satisfy the requirements of contemporary farmers, enhancing market adoption and ensuring long-term profitability.
Rising Demand for Food Security: The global population is expected to exceed 9 billion by 2050, making food security a paramount concern. The Smart Agriculture Market is driven by this need, as governments and agribusinesses engage in advanced farming practices to improve productivity. Solutions that provide predictive insights and enhance production cycles are crucial for firms aiming to penetrate this expanding market area.
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High Initial Costs of Implementation: A major obstacle to expansion in the Smart Agriculture Market is the substantial initial investment required for smart farming technologies. Advanced technology, like IoT sensors and automated machinery, necessitates substantial capital expenditure, which may dissuade smaller farming enterprises from embracing these advancements. Manufacturers and solution suppliers must present economical solutions or adaptable financing options to surmount this obstacle and enhance market penetration.
Limited Awareness in Developing Regions: In underdeveloped regions, where agriculture is primarily traditional, knowledge and comprehension of smart farming technology are limited. The Smart Agriculture Market encounters obstacles in various domains owing to insufficient knowledge and technical proficiency. Enterprises focusing on these areas must emphasize training and capacity-building efforts to facilitate adoption, thereby unlocking new development prospects.
Data Privacy and Security Concerns: With the expansion of the Smart Agriculture Market, worries over data privacy and cybersecurity are also increasing. Agricultural producers are becoming increasingly apprehensive about implementing technology that collect extensive sensitive data without sufficient security protocols. Solution providers must confront these issues by delivering comprehensive data protection and open policies to foster trust and promote the wider use of smart agriculture technologies.
Geographical Dominance
North America exhibits geographical preeminence in the Smart Agriculture Market, propelled by sophisticated technical integration, robust infrastructure, and significant expenditures in precision agriculture. The United States, notably, has a significant presence of pivotal stakeholders and governmental endorsement for sustainable agriculture efforts. This dominance propels market expansion by stimulating innovation, promoting collaborations, and establishing a standard for global smart agriculture practices in other countries.
Key Players
The "Global Smart Agriculture Market" study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Deere & Company, Trimble, Inc., AGCO Corporation, Topcon Positioning Systems, Raven Industries, Bayer AG, CNH Industrial N.V., Kubota Corporation, Afimilk Ltd., AgJunction, Inc., AgeEagle Aerial Systems, Inc., DeLaval, ETwater, Gamaya, LumiGrow, Inc., and The Climate Corporation.
Smart Agriculture Market Segment Analysis
Based on the research, Verified Market Research has segmented the global Smart Agriculture Market into Offering, Agriculture Type, Farm Size, Application and Geography.
- Smart Agriculture Market, by Offering
- Hardware
- Sensing Devices
- Software
- Services
- Smart Agriculture Market, by Agriculture Type
- Precision Farming
- Livestock Monitoring
- Precision Aquaculture
- Precision Forestry
- Smart Greenhouse
- Others
- Smart Agriculture Market, by Farm Size
- Small
- Medium
- Large
- Smart Agriculture Market, by Application
- Yield Monitoring
- Weather Tracking and Forecasting
- Milk Harvesting
- Water Quality Management
- HVAC Management
- Smart Agriculture Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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