The global smart farming market is expected to register a CAGR of around 10% over the period of 2021-2027. The Smart farming market is witnessing an uptick as it helps the farmers to get better results out of their crops, and help the farmers battle the negative effects of external factors like weather, smart farming software also provides data about the number of fertilizers that are required in the field for a particular crop. This software helps to increase the overall efficiency and reduced various unnecessary costs. The smart farming market witnessed a decline in 2020 owing to the spread of COVID-19. The outbreak had adversely impacted the supply chain of the smart farming market, as some of the prominent players are based in China and the US, and these countries were the worst affected countries in the pandemic in the first half of 2020. North America transpires to be the dominant market when it comes to revenue generated by developing the technology used in smart farming, Also, owing to extensive adoption of smart farming solutions, high ICT investment among government organizations, and high demand for linked solutions across the region. The expanding government initiatives and favorable rules for the advancement of the agriculture sector are credited with the rise of the smart farming market in the North American area. Furthermore, the government of this region is offering subsidies and tax breaks to encourage the growth of the smart farming sector. All these reasons are propelling the smart farming market in North America to new heights.

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 According to UnivDatos Market Insights (UMI)’ research report “Global Smart Farming Market”, the market is expected to witness robust growth during the forecast period 2021-2027F.

This growth is also attributed to factors such as the growing population, investment in digital technologies, etc., Also, smart farming helps the farmers to get better results out of their crops, smart farming could ensure high returns for the farming business if used to its complete potential. It can help the farmers to battle the negative effects of external factors like weather, smart farming software also provides data about the number of fertilizers that are required in the field for a particular crop.

Based on the Type, the market is segmented into precision farming, livestock monitoring, Aquaculture, and greenhouse. Precision farming held the majority of the smart farming market in 2020 and is expected to maintain its dominance during the forecast period. This is mainly because of the constantly improving software and hardware technologies such as sensors, robotics, automation, and others in the agriculture industry. Total market revenue.

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Based on Component, the market is segmented into solutions, services, and connectivity technology. The solutions segment grabbed the major market share and dominated the market in 2020. Moreover, the segment is expected to retain that dominance during the forecast period. The smart farming solution helps in enhancing yield production by monitoring water quality, air quality, nutrient & mineral quality, and others.

North America to witness extensive growth

North America transpires to be the dominant market when it comes to revenue generated by developing the technology used in smart farming, Also, owing to extensive adoption of smart farming solutions, high ICT investment among government organizations, and high demand for linked solutions across the region. The expanding government initiatives and favorable rules for the advancement of the agriculture sector are credited with the rise of the smart farming market in the North American area. Furthermore, the government of this region is offering subsidies and tax breaks to encourage the growth of the smart farming sector. All of these reasons are propelling the smart farming market in North America to new heights.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global smart farming market are by Afimilk Agricultural Cooperative Ltd., AgJunction Inc., AGCO Corporation, AgEagle Aerial Systems Inc., Deere & Company, DeLaval Inc., LumiGrow Inc., Raven Industries Inc., Topcun Positioning Systems Inc., and Trimble Inc.

“Global Smart Farming Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

 Market Segmentation:

1. By Type (Precision Farming, Livestock Monitoring, and Others)
2. By Component (Solutions, Services)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Afimilk Agricultural Cooperative Ltd., AgJunction Inc., AGCO Corporation, AgEagle Aerial Systems Inc., Deere & Company, DeLaval Inc., LumiGrow Inc., Raven Industries Inc., Topcun Positioning Systems Inc., and Trimble Inc.)

Key questions answered in the study:

1. What are the current and future trends of the global construction and design software industry?
2. How the industry has been evolving in terms of technology and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global construction and design software industry?
5. What is the customer orientation, purchase behavior, and expectations from the global construction and design software suppliers across various region and countries?