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WHAT IS THE SMART FARMING TECHNOLOGY AND ITS MARKET ADVANTAGES?

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Bis Research
WHAT IS THE SMART FARMING TECHNOLOGY AND ITS MARKET ADVANTAGES?

Smart farming is a concept in agriculture that involves data collection, data analysis, and data-driven decision making to increase yield, monitor crops and animals, and improve overall efficiency in all possible agricultural operations. Smart farming method or concept employs various technologies that become the means of operation. For example, to collect data, smart farming depends on the internet of things (IoT) and other sensor-based technologies, which allow seamless data collection. For data analysis, various farm management software and artificial intelligence (AI) based tools can be used to make sense of the collected data, and later autonomous machines and other mechanical equipment can be utilized to take necessary actions; for example, drones can be used to spread inputs such as pesticides and fertilizers.

Smart farming can help in various aspects of agriculture and can be applied to the entire value chain of the process. Following are some applications of smart farming.

·       It can help in monitoring farm processes and improve efficiency

·       Accurate weather forecasts can be done using predictive analytics

·       Farm equipment can be remotely operated and monitored

·       Data analytics can help in calculating precise feed and input for optimized results


According to Rakhi Tanwar, Principal Analyst, BIS Research, “Smart farming is expected to play a significant role in the agriculture industry in coming years. The growing adoption of digital technologies has increased the efficiency of agriculture practices, which has significantly impacted the growth of the smart farming market. The market is expected to register a high growth rate during the forecasted period and may remain relevant beyond it as well. The smart farming market has also been positively affected by ongoing digitization efforts and policies laid down by various governments across the globe. Various countries are initiating public-private partnerships to promote startups and increase awareness. Smart farming addresses various agricultural challenges such as greenhouse emissions, decreased workforce, and limited productivity. This could become an opportunity for the smart farming market as organizations such the Food and Agriculture Organization (FAO) and the European Union have been trying to popularize climate-smart farming methods to tackle various sustainability-related challenges in the agriculture industry.”


 

 Key Questions Answered in the Report

·      What is the expected global smart farming market size in terms of value during the period 2020-2026?

·      What is the expected future scenario and revenue generated by the different types of solutions, including hardware, software, and services?

·      What is the expected future scenario and revenue generated by different application segments in the smart farming market, including precision agriculture, livestock monitoring, and management, indoor farming, aquaculture, others?

·      Which region is the largest market for the global smart farming market?

·      What are the expected future scenario and the revenue generated by different regions and countries in the global smart farming market such as North America, Europe, the U.K., China, Asia-Pacific, and the Rest-of-the-World?

·      What is the competitive strength of the key players in the global smart farming market on the basis of the analysis of their recent developments, product offerings, and regional presence?

·      How are the adoption scenario, related opportunities, and challenges associated with the global smart farming market?

 

Get the free sample of the smart farming market report exclusively on Bis Research’s Website:

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