Smart Farming – Growing Popularity and Emerging Trends in the Market : Analysis by Key Players -Agco Corporation, Delaval Corporation, Aururas ,Farmeron

Research Reports

May 06, 2021

Global Smart Farming Market is accounted for $5.77 billion in 2017 and is expected to reach $18.81 billion by 2026 growing at a CAGR of 14.0% during the forecast period. Smart farming is the modern concept that deals with better management of farms by farmers using improved communication and information technology in order to increase the quality and quantity of the yield, while also optimizing the required human labor. It basically makes use of internet of things (IoT) due to which farming is also known as smart agriculture. The use of internet of things allows farmers to enhance the production with software, sensors, robotics, location, connectivity, and data analytics. It enables farmers to observe, diagnose, make better decisions, and plan for better activities. IoT solutions deal in a better way with all the farming concerns including farming robotization or automation and precision farming.

Some of the key players profiled in the report include Deere & Company, Raven Industries, GEA Group AG, The Climate Corporation, AG Leader Technology, Topcon Positioning Systems, Inc, Boumatic LLC., Agjunction, Inc., Trimble, Inc, Agco Corporation, Delaval Corporation, Aururas S.R.L, Grownetics Inc., Farmeron, Semiosbio Technologies Inc., Sst Development Group, Inc and Precision Planting, Inc.

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Modern farming or smart farming is today upgraded with 6 new techniques. Indoor vertical farming refers to the production of crops in limited land area with 70% less use of water but in the upward direction. Farming automation is associated with the use of technology that enables more efficient production and better use and feed of the livestock. Livestock farming technology allows farmers to maintain accurate financial records, ensure ideal care and feed of the livestock, and supervise workers. The modern greenhouses are also being noticed for farming and also blockchain decentralized structure is gaining awareness. Artificial intelligence has undoubtedly gained enough popularity in agriculture till date.

The increasing demand for food production, and rising population and shortage of agricultural lands are key driving factors for the smart farming market. Furthermore, growing implementation of advanced technologies in farming for maximum profitability and production, availability of low-cost cloud services, increasing need for remote monitoring services, increasing focus on farm efficiency and productivity, reduction in cost of sensors, rising governments’ support towards smart farming, government’s support to adopt modern agricultural techniques and rising adoption of big data & IoT in smart farming are some of the factors boosting the market growth. However, high initial capital investment, Lack of Standardization and increasing level of e-waste are expected to hamper the market growth.

Application types Covered:

Precision Farming Applications
Fish Farming Applications
Smart Greenhouse Applications
Livestock Monitoring Applications
Other Application types

Product types Covered:

Automation and control systems
Smart agriculture equipment and machinery

Offerings Covered:

Hardware
Software
Services

Hardware offerings segment dominated the global market with largest share owing to its extensive usage in smart farming to reduce input and augment output productivity of crop yields. The hardware offerings include automation and control systems, and sensing and monitoring systems. Automation and control systems such as Global Positioning System (GPS) receivers, guidance and steering devices, and Variable Rate Technology (VRT) devices form a major part of the smart farming market. However, software offerings segment is expected to grow with a high CAGR during the forecast period 2017 to 2026. Fish farming applications are projected to grow at the highest CAGR during the forecast period due to implementation of smart technologies.

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Table of Content

1 RESEARCH SCOPE
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product analysis
3.7 Application analysis
3.8 Emerging Markets
3.9 Futuristic Market Scenario

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Smart Farming Market, By Agriculture type
5.1 Introduction
5.2 Precision Farming
5.3 Fish Farming
5.4 Smart Greenhouse
5.5 Livestock Monitoring
5.6 Other Agriculture types
5.6.1 Horticulture
5.6.2 Forestry
5.6.3 Orchid

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What our report offers:

– Market share assessments for the regional and country level segments

– Market share analysis of the top industry players

– Strategic recommendations for the new entrants

– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets

– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

– Strategic recommendations in key business segments based on the market estimations

– Competitive landscaping mapping the key common trends

– Company profiling with detailed strategies, financials, and recent developments

– Supply chain trends mapping the latest technological advancements

About Author:

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