smart agriculture market

Smart agriculture industry was pegged at $16.74 billion in 2019, and is projected to reach $29.23 billion by 2027, growing at a CAGR of 9.7% from 2021 to 2027.

PORTLAND, OREGON, UNITED STATES, July 18, 2023/EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Smart Agriculture Market by Type (Precision Farming, Livestock, Aquaculture, and Greenhouse), and Component (Solution, Service, and Connectivity Technology): Global Opportunity Analysis and Industry Forecast, 2021–2027".

Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/5578

Major market players
Trimble Inc.
Topcon Positioning Systems
Deere & Company
AgEagle Aerial Systems Inc.
DeLaval Inc.
Raven Industries, Inc.
Afimilk Ltd
AGCO Corporation
Ag Junction LLC.
GEA Group

COVID-19 scenario:
Lack of laborers, increased need for improved yield, and disruption in farm operations due to regulations regarding social distancing have increased the demand for smart agriculture.
The COVID-19 pandemic has encouraged digitization of farms and integrating internet of things (IoT)in farm activities to maintain the health of crops and monitor livestock without involving labors.

Buy This Report (263 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/1cd15104de80d7c6aa801d1940ed131f

The precision farming segment dominated the market
By type, the precision farming segment held the largest share in 2019, accounting for more than two-fifths of the global smart agriculture market, due to increasing revolution of technology in the field of precision farming and benefits of precision farming from service and product perspective. However, the greenhouse segment is expected to manifest the highest CAGR of 12.4% during the forecast period, owing to benefits of smart greenhouse such as maintaining a micro-climate environment for cops, minimizing manual intervention, and optimizing the yielding process.

The service segment to manifest the highest CAGR through 2027
By component, the service segment is expected to register the highest CAGR of 11.1% during the forecast period, as it helps farmers in decision-making about the next steps to take with their farm operation and use data gathered by sensors for better crop production with low cost. However, the solution segment held the largest share in 2019, contributing to nearly three-fifths of the global smart agriculture market, as it helps in enhancing the yield production by doing monitoring of water quality, nutrient & mineral quality.

Flash Sale Is Back Get 15% Discount: https://www.alliedmarketresearch.com/purchase-enquiry/5578

North America to portray the highest CAGR by 2027
By region, the market across North America is expected to manifest the highest CAGR of 12.1% during the forecast period, due to surge in population, improved lifestyle across the region, and technological advancements in crop production. However, the global smart agriculture market across Asia-Pacific held the largest share in 2019, accounting for more than one-third of the market, owing to surge in adoption of smart agriculture and rise in disposable income to invest in farming in the region.

David Correa
Allied Analytics LLP
1 800-792-5285
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.