Home Press Releases Smart Farms Market is to Reach USD 36363 Million 2032, Growing at A Rate of 9.40% to forecast 2032

Smart Farms Market is to Reach USD 36363 Million 2032, Growing at A Rate of 9.40% to forecast 2032

by Press Room


 


(EMAILWIRE.COM, June 22, 2024 ) Global Smart Farms Market size was valued at USD 16200 Mn in 2023 and is expected to reach USD 36363 Mn by 2032, at a CAGR of 9.40%.

Pune, 21 June 2024: The Global Smart Farms Market was valued at USD 16200 million in 2023 and is expected to reach USD 36363 million by 2032, with a CAGR of 9.40%. The demand for smart farms is driven by the increasing adoption of advanced technologies in agriculture. According to the National Institute of Food and Agriculture, contemporary farms and agricultural operations have significantly evolved from those of the past, largely due to technological advancements, including devices, machines, sensors, and information technology. Moreover, the smart farms market is poised for growth, bolstered by government initiatives promoting smart farming. For instance, the Indian government partnered with Microsoft to enhance smallholder farmers’ income by improving price management and increasing agricultural yield through AI sensors.

Smart Farms Market Dynamics

The global population is increasing, leading to a 2% annual growth in food demand. Smart farming methods have been used to increase food production without compromising quality standards. Smartphones are increasingly being used in agriculture to provide real-time information about crops and machinery, enabling farmers to access information about weather, crop conditions, and soil health. The demand for automation of commercial greenhouses is also increasing, with Revol Greens, an American greenhouse lettuce farmer, selecting Blue Radix, an independent Dutch expert in autonomous growth, to support their US-based greenhouse operations. Blue Radix will provide artificial intelligence technologies and services to support climate control, irrigation, and energy management.

In the smart farms market stem from advancements in precision agriculture, vertical farming, and autonomous machinery. These technologies provide effective solutions to challenges like labor shortages, climate change, and decreasing arable land. The growing use of data analytics and predictive modeling also enhances risk management and crop planning, driving market growth. the market faces challenges, including high initial investment costs for small-scale farmers and concerns about data privacy and cybersecurity. Additionally, limited awareness and technical expertise in certain regions can impede market penetration. Regulatory hurdles and insufficient infrastructure in rural areas also restrict widespread adoption. Despite these obstacles, continued technological advancements and supportive policies position the smart farms market for substantial growth.

Would you Like to Take a Look On “Sample Report” of Smart Farms Market Click the Link Below:

https://pristineintelligence.com/request-sample/global-smart-farms-market-63

Smart Farms Market Regional Insights

North America is Expected to Dominate the Market Over the Forecast period., driven by the rise of US-based vendors and domestic farmers’ significant investments in technology. Key players are also collaborating to expand their global consumer base. For instance, the Public Investment Fund and Aero Farms have partnered to build and operate the largest indoor vertical farm in Saudi Arabia, utilizing advanced technologies to produce up to 1.1 million kilograms of crops annually. North America is expected to dominate the smart farms market due to its adoption of precision farming techniques, advanced analytics, and IoT-based solutions, which reduce crop losses and enhance productivity.

Smart Farms Market Segment Analysis

By Agriculture Type

Precision Farming

Livestock Monitoring

Fish Farming

Smart Greenhouse

Others

Precision farming involves highly accurate and optimal agricultural production, enhancing productivity, resource efficiency, and minimizing environmental impact. According to the U.S. Wheat Associates, farmers utilizing precision technology saw a 4% increase in crop production, a 7% improvement in fertilizer placement efficiency, a 9% reduction in herbicide and pesticide use, and a 6% decrease in fossil fuel consumption. One notable example is AI-assisted targeted pesticide application, which focuses on specific areas needing treatment rather than blanket coverage. These technologies enable farmers to collect and analyze data on weather, soil conditions, and crop growth, leading to more informed decisions regarding planting, irrigation, and fertilizer use.

Would you Like to Take a Look On “Sample Report” of Smart Farms Market Click the Link Below:

https://pristineintelligence.com/request-sample/global-smart-farms-market-63

By Offering

Hardware

Software

Services

By Medium

Loose growth

Mat

Sheet

Structural

By Services

System Integration and Consulting

Support and Maintenance

Connectivity Services

Managed Services

Professional Services

By Solution

Network Management

Agriculture Asset Management

Supervisory Control

and Data Acquisition

Logistics and Supply Chain Management

Smart Water Management

Others

By Application

Irrigation Management

Yield Monitoring

Crop Scouting

Field Mapping

Weather Tracking & Forecasting

Inventory Management

Farm Labour Management

Others

Would you Like to Take a Look On “Sample Report” of Smart Farms Market Click the Link Below:

https://pristineintelligence.com/request-sample/global-smart-farms-market-63

GLOBAL SMART FARMS MARKET BY REGION

NORTH AMERICA

USA

Canada

Mexico

EASTERN EUROPE

Russia

Bulgaria

The Czech Republic

Hungary

Poland

Romania

Rest of Eastern Europe

WESTERN EUROPE

Germany

United Kingdom

France

The Netherlands

Italy

Spain

Rest of Western Europe

ASIA PACIFIC

China

India

Japan

South Korea

Malaysia

Thailand

Vietnam

The Philippines

Australia

New-Zealand

Rest Of APAC

MIDDLE EAST & AFRICA

Turkey

Bahrain

Kuwait

Saudi Arabia

Qatar

UAE

Israel

South Africa

SOUTH AMERICA

Brazil

Argentina

Rest of South America

Smart Farms’s Key Competitors include:

AeroFarms (US)

Freight Farms (US)

LumiGrow (US)

Osram (Germany)

Philips Lighting (Netherlands)

Signify (Netherlands)

Ag Leader Technology (US)

AGCO (US)

Deere & Company (US)

Precision Planting (US), and other major players.

Key questions answered in the Smart Farms Market report are:

Which market segment dominated the global Smart Farms market in 2023?

What are the current global trends in the Smart Farms market?

What future industry applications and trends are emerging in the Smart Farms market?

What growth strategies are companies adopting to expand their presence in the Smart Farms market?

Who are the leading companies in the Smart Farms market, and what are their product portfolios?

What are the primary challenges that the Smart Farms market may face in the future?

Which region had the largest share of the Smart Farms market in 2023?

How is the regulatory environment influencing the Smart Farms market?

Key Offerings:

Market Size, Share, Size & Forecast by Different Segments | 2024−2032

Smart Farms Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

Market Trend Analysis

Pestle Analysis

Porter’s Five Forces Analysis

Industry Value Chain Analysis

Ecosystem

Regulatory Landscape

Price Trend Analysis

Patent Analysis

Technology Evolution

Investment Pockets

Smart Farms Market Segmentation

Competitive Landscape – Profiles of selected key players in a strategic perspective

Competitive landscape – Competitive Benchmarking, Smart Farms Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions

Analyst Viewpoint and Conclusion

Pristine Intelligence LLP, a prominent Food and Beverages Industry research firm, has released the following reports:

Coconut Milk Market: Coconut Milk Market Size Was Valued at USD 1233.70 Million in 2023 and is Projected to Reach USD 2141.63 Million by 2032, Growing at a CAGR of 6.32% From 2024-2032.

Fermented Milk Market: Fermented Milk Market Size Was Valued at USD 53.38 Billion in 2023 and is Projected to Reach USD 111.62 Billion by 2032, Growing at a CAGR of 8.54% From 2024-2032.

About Us:

We are technocratic market research and consulting company that provides comprehensive and data-driven market insights. We hold the expertise in demand analysis and estimation of multidomain industries with encyclopedic competitive and landscape analysis. Also, our in-depth macro-economic analysis gives a bird’s eye view of a market to our esteemed client.

Our team at Pristine Intelligence focuses on result-oriented methodologies which are based on historic and present data to produce authentic foretelling about the industry. Pristine Intelligence’s extensive studies help our clients to make righteous decisions that make a positive impact on their business. Our customer-oriented business model firmly follows satisfactory service through which our brand name is recognized in the market.

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