2022 Smart Farming Market Size, Share, Outlook and Growth Opportunities Forecast to 2030: by Agriculture Type, by Offerings (Hardware, Software and Services), by Application and by Region

Key Findings

• Smart Farming market is estimated to grow at a CAGR of 12.36% during the forecast period, 2022-2030.
• Demand for smart technologies in the agriculture industry, increasing automation of commercial greenhouses and rise in implementation of the Controlled Environmental agriculture concepts in greenhouses are the current market trends in the smart farming market.
• Precision type of smart agriculture farming is expected to dominate the market during the forecast period.
• Hardware segment is likely to grow at the highest CAGR during 2022-2030.
• The weather tracking and forecasting segment is anticipated to portray the highest growth rate among different applications of smart farming.
• North America is expected to dominate the market share but Asia Pacific is likely to witness the highest growth rate over the projected period.

Smart Farming is an innovative concept of farming that uses modern technologies to improve the quantity and quality of agricultural products. The growing population of the world is triggering the demand for larger quantities of food and crops. So the increasing adoption of advanced technologies including big data, cloud based data services, livestock biometrics, agricultural robots, GPS and Internet Of Things assist the farmers to reduce their manual efforts, maximize the resource utilization and improve crop production. Besides this, the changing weather conditions and global warming effects are driving the farmers to adopt modern methods of farming to enhance their farm productivity and crop yield.

The Reduction of agricultural land due to an increase in urbanization and increased applications of technologies in agriculture provide great opportunities for the key players in the smart farming market. However, the increased prices of advanced technologies, equipment and lack of technical skills and infrastructure in developing countries inhibit smart farming market growth. Integrating the hardware devices with software applications and educating the farmers regarding the technical skills may overcome the restrains in the market.

Smart Farming Market Insights
The “2022 Smart Farming Market Size, Share, Outlook and Growth Opportunities Forecast to 2030” report provides a comprehensive analysis of the global smart farming market conditions. Major trends shaping the near and long term future of the industry, opportunities, drivers and restraints of Smart Farming market, detailed porter’s five forces analysis and competitive insights are included in the research report.

Smart Farming Market Share by Type:

• The report presents the detailed annual outlook of different types of the Smart Farming market to 2030. The report studied five types of smart farming including Precision farming, Livestock monitoring, Fish farming, Smart Greenhouse and Others.

The Precision farming market is estimated to grow at a higher rate in the global Smart Farming market owing to the increasing adoption of advanced technologies by farmers to monitor and control the agricultural activities for maximum productivity and higher crop yield.

Smart Farming Market Size by Offering:

• The report forecasts the Smart Farming market in various offerings which include hardware, software and services. Hardware segment is further analyzed by categorizing into GPS systems, drones, sensors, RFID readers and LED grow lights.

Hardware component segment is expected to report the highest growth rate during the estimated period due to the popularity and demand of hardware components like Automation and Control systems, HVAC systems and LED grow lights.

Smart Farming Market Size by Application:

• The report presents in-depth insights into each of the Smart Farming applications along with annual forecasts to 2030. Various applications that are studied in the report include Irrigation management, Yield monitoring, Crop scouting, Field mapping, Weather tracking & Forecasting, Inventory management and Farm labor management.

Weather tracking & monitoring segment is expected to witness the highest growth rate during the estimated period. Growing water scarcity and demand for precision irrigation drives the Irrigation management segment to record a considerable growth in the future.

Global Smart Farming Market Revenue by Region:

• The current Smart Farming market size in terms of revenue across 5 regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa are studied in the report. In addition, historic data from 2021 and annual forecasts to 2030 are also included in the research report. Globally, North America dominated the market for Smart Farming, because of the government initiatives including subsidies, educating the farmers and investments in the research field.

However, Asia-Pacific is likely to portray the highest growth rate over the projected period, owing to the government initiatives, rising population and demand for food along with the rising awareness among cultivators.

Global Smart Farming Market Analysis by Company:

• Top 10 leading companies in the global smart farming market are analyzed in the report along with their business overview, operations, geographical locations, financial analysis, SWOT profile and Smart Farming products & services.
• Global Smart Farming Market News and Recent Developments
• The latest news and industry developments in terms of Smart Farming developments, acquisitions, growth strategies, joint ventures and collaborations, technology launches and market expansions are included in the report.

Raven Industries awarded South Dakota State University in 2018 with $5 million for the establishment of precision agriculture facility in its campus.

AGCO Corporation acquired Precision Planting from the Monsanto’s subsidiary, The Climate Corporation in 2017 to be a leader in the planting technology and strengthen as a partner for professional farmers across the world.

Scope
Long term perspective on the Smart Farming industry: 2021 (base year), 2022 - 2030 (forecast period)
Smart Farming Market - Forecast by Segments - Type, Offering, Products, Application and by Geography.
It provides the market outlook by five agriculture types including Precision farming that further comprises Guidance, VRT and Remote sensing; Live stock Monitoring; Fish farming; Smart Greenhouse and others.
The report provides detailed forecast on the smart farming market offerings including hardware, software and services.
The research work categorizes the global smart farming market based on application into Irrigation management, Yield monitoring, Crop scouting, Field mapping, Weather tracking & forecasting, Inventory management and Farm labor management.
Smart Farming market shares across the countries in 5 regions including North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are analyzed.

Smart Farming Market - Strategic Analysis Review

Key strategies opted by leading players:

• Short to Long Term Industry Trends
• Porter’s Five Forces Analysis
• Supply side and Demand Side Drivers and Challenges
• Smart Farming Market - Growth Opportunities
• Potential New Business Opportunities
• Key Areas of Focus in the forecast period
• Smart Farming Market - Competitive Scenario
• Top companies in the Smart Farming market are analyzed in the report including AGCO Corporation, Raven Industries Inc., AG Leader Technology, GEA Group, Precision Planting, Deere & Company, TOPCON, Agribox LLC and SST Development Group, Inc.
• Company Peer-to-Peer Comparison
• Company Profile and SWOT Analysis
• Financial Analysis.

This product will be delivered within 1-3 business days.