Global Smart Agriculture Market Forecast 2022-2030

Global Smart Agriculture Market Forecast 2022-2030KEY FINDINGS

The global smart agriculture market is predicted to register a CAGR of 9.98% during the forecast period, 2022-2030. The market growth is attributed to supportive government initiatives, innovations and advancements in agricultural technology, expanding corporate farming, and the rising popularity of automation in agriculture.

MARKET INSIGHTS

Smart agriculture is a concept that encompasses enabling the infrastructure to leverage advanced technologies for the agriculture industry. These include the Internet of Things (IoT), cloud, and big data for analyzing, automating, monitoring, and tracking operations.

The increasing corporate farming practices are one of the major growth drivers of the global smart agriculture market. Corporate farming is large-scale agriculture practiced on farms owned by large corporations. This entails the roles played by corporations, corporate ownership of farms, agricultural product sales, public policy, and research through lobbying efforts and funding initiatives.

Corporate farming enables consumers access to a vast variety of food items. In addition, large-scale operations facilitate the creation of a wide variety of products, higher profitability, and increased market reach. Moreover, these organizations have smart agriculture equipment resources that allow them to afford connectivity technologies, robots, and automation equipment. Such aspects propel global smart agriculture market prospects. However, the lack of skilled operators and high costs hamper the market growth.

REGIONAL INSIGHTS

The global smart agriculture market growth assessment includes the analysis of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is the fastest-growing region in the global market. Agriculture is a crucial sector for the region’s development in the region, with over 70% of the rural population dependent on agriculture as their primary source of income.

COMPETITIVE INSIGHTS

Several global players are contesting for market share, contributing to moderate competitive rivalry. Some of the leading companies in the market include The Climate Corporation (Bayer AG), Topcon Positioning Systems Inc, Trimble Inc, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments