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Smart Agriculture Market Trends

Report ID: GMI7104
Published Date: Oct 2023
Report Format: PDF

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Smart Agriculture Market Trends

The use of Internet of Things (IoT) devices & sensors for real-time data collection and monitoring has continued to expand. These technologies provide valuable insights into soil conditions, weather, crop health, and livestock management. Precision farming techniques, such as variable rate application and precise planting, are becoming increasingly popular. These methods optimize resource utilization, reduce waste, and boost overall crop yields.

Sustainability is a growing concern in agriculture. Smart agriculture technologies are being used to reduce water & chemical usage, minimize environmental impacts, and enhance overall sustainability. The smart agriculture market is expanding globally, reaching not only large commercial farms but also small-scale & subsistence farming operations, thereby contributing to food security and economic development.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of smart agriculture reached USD 18.5 million in 2022 and is set to observe more than 12% CAGR between 2023 and 2032, says this GMI report.

The software segment is anticipated to register over 10% CAGR from 2023 to 2032, as the farm management software allows farmers to collect, analyze, and visualize data from sensors, drones & other sources.

North America market share was over 35% in 2022, as the region has a strong agriculture sector and a high level of technology adoption.

Deere & Company, Trimble Inc., AGCO Corporation, Topcon Positioning Systems, DeLaval Inc, Ag Leader Technology, and Raven Industries.