The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Smart Agriculture Global Market Report 2024 offers crucial insights into the smart agriculture market help businesses analyse and build stronger strategies.

Introduction The smart agriculture market has witnessed remarkable growth in recent years, with projections indicating continued expansion. From 2023 to 2024 alone, the market is set to increase from $14.53 billion to $16.38 billion, representing a significant compound annual growth rate (CAGR) of 12.8%.

Driving Forces Behind Market Growth

• Rising global population
• Concerns over climate change
• Government initiatives and support
• Farm labor shortages
• Water scarcity concerns

Population Growth Pressures Drive Smart Agriculture Market Growth The burgeoning global population exerts immense pressure on the food supply system, necessitating innovative solutions to enhance agricultural efficiency. Smart farming plays a pivotal role by facilitating informed decision-making throughout the food value chain. For instance, acute food insecurity affected millions in 2021, underscoring the urgency for smarter agricultural practices.

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https://www.thebusinessresearchcompany.com/report/smart-agriculture-global-market-report

Technological Advancements Reshaping The Smart Agriculture Market Technological innovation stands as a cornerstone in the evolution of smart agriculture. Major companies are pioneering cutting-edge solutions such as livestock biometrics, agricultural robots, and RFID technology to empower farmers with real-time insights and optimize productivity. For example, DeLaval’s robotic collectors enhance cow welfare and hoof health, showcasing the potential of technology-driven advancements in agriculture.

BASF Agricultural Solutions Enhances Portfolio With Horta S.R.L. Acquisition BASF SE’s acquisition of Horta S.r.l. underscores the industry’s commitment to leveraging digital solutions for agricultural enhancement. This strategic move not only expands BASF’s product line but also underscores the increasing integration of digital technologies to drive productivity and sustainability in agriculture.

Segmentation and Regional Outlook: The smart agriculture market is segmented based on offering, farm size, and application, providing a comprehensive framework for industry analysis and growth projections.

1. By Offering: Hardware, Software, Services
2. By Farm Size: Small, Medium, Large
3. By Application: Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse, Other Applications

Regional Dynamics

• North America emerged as the largest region in the smart agriculture market in 2023.
• Asia-Pacific is poised to witness the fastest growth during the forecast period, underscoring the global nature of smart agricultural advancements.

Future Outlook: The smart agriculture market is poised for exponential growth, with projections indicating a significant increase to $25.38 billion by 2028, fueled by trends such as precision farming, adoption of IoT sensors, and climate-smart agriculture practices. Collaborations and partnerships within the agtech ecosystem are expected to further drive innovation and market expansion.

Conclusion: The trajectory of the smart agriculture market reflects a paradigm shift in agricultural practices, driven by technological innovation and a growing imperative for sustainability. As the industry continues to evolve, stakeholders must embrace collaboration and investment in transformative technologies to unlock the full potential of smart farming in addressing global food security challenges.

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The Smart Agriculture Global Market Report 2024  provides a comprehensive outlook of the smart agriculture market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smart agriculture market forecast offers a thorough analysis on smart agriculture market size, smart agriculture market share, prominent players and their strategies.

The Table Of Content For The Smart Agriculture Market Include:
1. Smart Agriculture Market Executive Summary
2. Smart Agriculture Market Segments
3. Smart Agriculture Market Size And Smart Agriculture Market Growth Rate
4. Key Smart Agriculture Market Trends
5. Major Smart Agriculture Market Drivers
……
25. Key Mergers And Acquisitions In The Smart Agriculture Market
26. Top Smart Agriculture Companies
27. Smart Agriculture Market Opportunities And Strategies
28. Smart Agriculture Market, Conclusions And Recommendations
29. Appendix

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