Smart Agriculture Market Outlook by 2029, Key Companies, And Latest Drivers.
This study uses 2021 as the base year and 2022 to 2029 as the forecast period to estimate the market size for Smart Agriculture. According to this study, in 2022 the growth of Smart Agriculture market is projected to reach multimillion USD by 2028, compared to 2021. Over the next seven years, the Smart Agriculture market will register a magnificent spike in CAGR in terms of revenue.
The research report provides in-depth information on the market's size, cost and revenue, trends, growth, and capacity as well as a forecast through 2029. Additionally, a comprehensive analysis of this market's key drivers of growth is provided. This study is a thorough quantitative analysis of the market that provides data for developing strategies to accelerate growth and effectiveness.
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Smart Agriculture Market Overview:
In 2021, the smart agriculture market was estimated to be worth US$15.03 billion. The main factors influencing demand are the increasing automation of commercial greenhouses and the expanded application of the Controlled Environment Agriculture (CEA) concept in greenhouses to increase yields and preserve ideal growth conditions. The potential advantages of greenhouse farming are coming to the attention of cultivators, which has led to an increase in the construction of commercial greenhouses. Growers are shifting their attention away from conventional lighting systems and towards LED grow lights instead because they are simpler to integrate into a CEA setup. LED grow lights are regarded as suitable for indoor farming despite being expensive because of their long-term energy efficiency advantages.
Smart Agriculture Market Segment Analysis:
The Livestock Monitoring segment had the highest share (22.04%) of all agriculture types in 2021. Precision livestock monitoring enables real-time monitoring of livestock welfare, production, and health to maintain optimal yields. Due to factors like growing dairy farm size and rising technical advancements, such as precision livestock monitoring, market players have been advised to concentrate on new product launches and significant cost savings related to livestock monitoring management. Livestock contributes significantly to agriculture, which gives it a significant role in the industry. It is an essential component of programmes aimed at reducing poverty and can be produced quickly thanks to the abundance of all necessary inputs in the nation.
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Smart Agriculture Market Key Players:
- Deere & Company
- Trimble, Inc.
- AG Leader Technology
- Sst Development Group, Inc
- Agco Corporation
- The Climate Corporation
- Precision Planting, Inc.
- Semiosbio Technologies Inc.
- DeLaval
- Antelliq
- Afimilk Ltd.
- Raven Industries
- AgJunction
Key company and market share insights:
This section explains the main competitors to the readers. This study investigates key growth strategies employed by these players to maintain their influence, such as innovation trends and advancements, product portfolio strengthening, mergers and acquisitions, collaborations, new product innovations, and regional expansion. Apart from business strategies, the report also contains important financial data and current developments. In addition, readers can get information about the global sales, prices and revenues of manufacturers from 2017 to 2022.
Smart Agriculture Market COVID 19 Impact:
Direct changes in supply and demand, market and supply chain disruptions, and economic effects on enterprises and financial markets are the three main ways that COVID-19 can affect the world economy. After the COVID-19 problem, the market will offer producers attractive chances, according to our researchers who are monitoring the situation throughout the world. The report's goal is to further highlight the impact of the current environment, the economic downturn, and COVID-19 on the entire sector.
Smart Agriculture Market Regional Analysis:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Important Features of the Reports:
- Detailed overview of the global Smart Agriculture market.
- Market drivers, restraints, opportunities, and challenges region-wise.
- Detail market segmentation and market share, with explanation.
- Recent industry trends and developments
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