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Smart Farming Market Size to Reach USD 25.98 Billion by 2028 | Increasing Adoption of Iot in Farming and use of Modern Technologies will be the Key Factor Driving the Industry Growth, States Emergen Research

Major companies operating in the global smart farming market include Deere & Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation.

/EIN News/ -- Vancouver, British Columbia, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The global smart farming market is projected to reach a market size of USD 25.98 Billion by 2028 at a CAGR of 8.0%, over the forecast period, according to most recent analysis by Emergen Research.

The smart farming market is growing due to rapid adoption of IoT (Internet of Things) and rise in focus on disease detection and livestock monitoring. The adoption of livestock monitoring solutions in developing nations and increasing popularity of drone in farming contributes to the smart farming market's revenue. Adopting modern technologies to enhance the quantity and quality of farming products will also drive the market's growth.

IoT-based smart farming targets large-scale farming operations and adds value to new trends such as family farming and organic farming, and enables highly transparent farming. Remote sensing smart farming improves productivity, reduces waste, and provides enhanced resource management. However, high cost of deployment of smart farming equipment will hinder the smart farming market's growth.

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Governments globally are partnering with various food and beverage manufacturers, agro-processing organizations, and financial institutions to develop sustainable agriculture initiatives, which will drive the growth of the smart farming market. In November 2019, United Nations Development Programme (UNDP) announced Cultiv@te at Singapore FinTech Festival (SFF), partnering with Government of Singapore and the private sector. Cutiv@te is a technological and innovation initiative doe sustainable agriculture.

Key Highlights of Report

  • In November 2019, Topcon Positioning introduced the Topcon Agriculture Project, which combines networking, cloud infrastructure, and farmers' data collection, as a web-based farm workflow optimization tool.
  • Livestock monitoring uses IoT-enabled devices to monitor and track the health of livestock. The growing demand for enhanced dairy products owing to health awareness will drive the growth of the farming type segment.  
  • Smart farming software is used to manage and optimize farm production activities. The software segment is growing as it helps in data storage, record management, analyzing and monitoring farming activities, and streamline work schedules.
  • The demand for farming products is growing in Asia Pacific at a rapid rate due to a surge in population. The rising pressure to enhance agricultural yields with limited resources and increasing need to protect crops from unexpected climate is driving the growth of the segment.
  • Major companies operating in the global smart farming market include Deere & Company, Topcon Positioning Systems, Trimble, Inc., DeLaval, Antelliq, Heliospectra, Afimilk Ltd., InnovaSea Systems, AKVA group, and Nexus Corporation.

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Emergen Research has segmented the global smart farming market in terms of farming type, offerings, application, and region:

  • Farming Type Outlook (Revenue, USD Billion; 2018-2028)
    • Precision farming
    • Livestock monitoring
    • Smart greenhouse
    • Others
  • Offerings Outlook (Revenue, USD Billion; 2018-2028)
    • Hardware
    • Software
    • Services
  • Application Outlook (Revenue, USD Billion; 2018-2028)
    • Precision Farming Application
    • Livestock Monitoring Application
    • Precision Aquaculture Application
    • Smart Greenhouse Application
    • Precision Forestry Application
    • Others

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends:   https://www.emergenresearch.com/industry-report/smart-farming-market

  • Regional Outlook (Revenue, USD Billion; 2018–2028)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. UK
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East & Africa

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

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