Over the last decade, the global agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices. Rising global population and high income growth have resulted in growing concerns of food security across the world. Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems. With the rapid employment of smart farming solutions, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises. The advent of innovative farm management techniques has resulted into reduced energy consumption and overall cost-effective operations, owing to their more precise and resource-efficient approach. As a result, the smart farming industry is anticipated to progress, due to the ever growing affinity for more convenient and smart farming solutions than the traditional methods.
The market research study offers a wide perspective of the different types of solutions and applications pertaining to smart farming and analyzes its impact on the farming sector, by providing critical insights into the direction of its future expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players), and secondary research (a host of paid and unpaid databases), along with the analytical tools, that have been used to build the forecast, and the predictive models. The report is a compilation of various segmentations including market breakdown by solutions, applications, and region. Moreover, the report also consists of an additional section of agricultural robots for smart farming. Market segmentation of agricultural robots in smart farming on the basis of type and application has also been evaluated. The report highlights the key driving and restraining forces for this market as well as the market opportunities in different segments of smart farming, such as crop production, livestock management, indoor crop production, and aquatic species farming, among others.
The report answers the following questions about the global smart farming market:
- What is the global smart farming market size in terms of revenue from 2017-2022 along with the growth rate during the forecast period 2018-2022?
- What is the revenue generated by the different solutions such as hardware systems, software, and services for the smart farming market?
- What is the market size of smart farming solutions for different applications including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others?
- What is the smart farming market size for different regions on the basis of various solutions and applications?
- What are the key trends and opportunities in the market pertaining to countries included in different geographical regions?
- How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of smart farming?
- What are the major driving forces that are expected to increase the demand for smart farming during the forecast period?
- What are the major challenges inhibiting the growth of the global smart farming market?
- What kind of new strategies is being adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players in the smart farming market by analyzing their recent developments, product offerings, and regional presence?
- How are agricultural robots transforming the contemporary farming practices?
The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the smart farming market by the players and government.
Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). Each region details the individual push and pull forces in addition to the key players from that region. Deere & Co., Trimble Inc., AGCO Corporation, Raven Industries, GEA Farm Technologies, Lely, Afimilk Ltd., Allflex Inc., Vertical Farm Systems, AeroFarms, Phillips Lighting, Osram Licht AG, Harvest Automation, and AKVA Group are some of the prominent players in the smart farming market.