The market is expected to increase at CAGR of 16.99% during the forecast period 2022-2027
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Smart Farming Market – A Global and Regional Analysis. According to this study, the global smart farming market was valued at $15.06 billion in 2022 and is projected to reach $33 billion by 2027. The following factors are responsible for the increase in demand for smart farming:
- Need for automation of workforce in agriculture.
- Rising concerns over agriculture sustainability
- Need for technology in livestock monitoring and disease detection.
- Increasing demand for global food security owing to population growth and urbanization
The detailed study is a compilation of 283 market data tables and 66 figures spread through 416 pages. Check out the detailed table of content here: https://bisresearch.com/requestsample?id=1460&type=toc Analyst’s Take on the Market Projection According to Debraj Chakraborty, Principal Analyst, BIS Research, “The smart farming market is expected to grow at a significant growth rate during the forecast period because of the growing need for more sustainable agricultural practices. Traditional farming practices can be resource-intensive, leading to waste and environmental damage. Smart farming technologies, such as precision irrigation and fertilization, can help to reduce waste and improve efficiency.” Request a FREE sample of this report here: https://bisresearch.com/requestsample?id=1460&type=download Major Existing Industry Leaders in the Global Smart Farming Market The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- Ag Leader Technology
- AGCO Corporation
- CNH Industrial N.V.
- Deere & Company
- Hexagon Agriculture
- Kubota Corporation
- Climate LLC
- Trimble Inc.
- BASF SE
- CropX inc.
- Connecterra B.V.
- Naio Technologies
- Signify Holding
- Osram Licht AG
Recent Developments in the Global Smart Farming Market
- In October 2022, Trimble Inc. launched new agriculture displays, such as Trimble GFX-1060 and GFX-1260, for precision agriculture applications. These displays provide next-generation performance and connectivity for in-field operations.
- In August 2022, CropX inc. launched a continuous nitrogen leaching monitoring capability for its farm management system. This new development would track the nitrogen movement and salts in the soil.
- In June 2022, BASF acquired Horta S.r.l., an Italian company specializing in digital farming solutions. Horta is an established player in the development of highly innovative agronomic Decision Support Systems (DSS) for crops such as grapes, tomatoes, cereals, and olives.
Want to learn more about the latest trends in smart farming practices? Speak to our analysts Exclusive DeepTech™ MAP on Agriculture by BIS Research: Agriculture Drones and Robots Market Augmented Reality in Agriculture Market About BIS Research: BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals. Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management. BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes. Contact: Head of Marketing Email: [email protected] BIS Research Inc. 39111 PASEO PADRE PKWY STE 313, FREMONT CA 94538-1686 Visit our Blog @ https://bisresearch.com/news Get Expert Insights @ https://community.insightmonk.com Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research Connect with us on Twitter@ https://twitter.com/BISResearch