Advanced Farming Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
Global Advanced Farming Market is expected to reach USD 40.03 Bn by 2030, at a CAGR of 25% during the forecast period.
The report covers the detailed analysis of the global advanced farming industry with the classifications of the market on the basis of technology, service, deployment, application, and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players contribution in it.
The report has profiled major key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in North America region. Major country’s policies about manufacturing and its impact on market demand are covered in the report.
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Global Advanced Farming Market Dynamics
Increasing global food demand to drive the market
With the increasing population demand for agricultural food such as fruits, vegetables, and grains is also increasing day by day. Food demand is expected to increase anywhere between 59% to 98% by 2050. Due to this Farmers worldwide need to increase crop production, either by increasing the amount of agricultural land to grow crops or by enhancing productivity on existing agricultural lands through fertilizer and irrigation and adopting new methods like precision farming. Advanced farming technology helps farmers or growers to monitor their field or yield, provide knowledge of soil characteristics, and to work in low visibility situations through Ariel images. At present time precision agriculture is gaining in popularity largely due to the introduction of high technology tools into the agricultural community that is more accurate, cost-effective, and user-friendly.
Lack of knowledge and skills to restrain the market
Lack of technological knowledge and skills of farmers are expected to create challenges for the global advanced farming market. For instance, in India mostly farmers don’t have proper knowledge of advance technologies skills to execution of these technologies, which can be used in farming.
Global Advanced Farming Market Segment Analysis
High precision positioning system is expected to witness the highest growth of the global advanced farming market during the forecast period. This technology enables farmers to collect real-time data with accurate position information. The high-precision positioning system is used for farm planning, field mapping, soil sampling, tractor guidance, crop scouting, variable rate applications, and yield mapping, which helps farmers to produce higher yields at low cost. However, it also facilitates farmers to work in low visibility situations like dust, rain, fog, darkness, etc., which is expected to create many lucrative opportunities in the advanced farming market.
Global Advanced Farming Regional Insights
North America is expected to witness highest growth during forecast period
North America is expected to hold the largest market share of xx% by 2023 due to the increasing adoption of advanced farming technologies in countries like the US and Canada. In the US agriculture is a major industry, which is a net exporter of food. Farmers are adopting the advanced technologies such as sensors, automated steering systems, precision systems, robots, etc., which is expected to boost the market in North America.
Asia Pacific is expected to witness rapid growth at a CAGR of xx% during the forecast period. The growth in Asia Pacific region is led by developing countries such as India, China, and Indonesia. In India agriculture plays an important role as more than 70 % of the population is dependent on agriculture for livelihood. The agriculture sector contributes 13.9% to the total GDP, which is the largest contributor to the national income. Increasing demand for higher yield at low cost led farmers to adopt advanced farming technologies and précising systems. Sensing technology is now increasingly being applied in agriculture to create 'intelligent farms', which is expected to boost the market growth in the region.
The objective of the report is to present a comprehensive analysis of the global advanced farming market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding global advanced farming market dynamics, structure by analyzing the market segments and project global advanced farming market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global advanced farming market make the report investor’s guide.
Global Advanced Farming Market scope: Inquire before buying
| Advanced Farming Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 8.39 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 25% | Market Size in 2030: | USD 40.03 Bn. |
| Segments Covered: | by Technology | Variable-rate Technology (VRT) High precision positioning systems Automated steering systems Remote sensing Integrated electronic communication |
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| by Service | Integration Maintenance Consulting & Training |
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| by Deployment | Cloud On-premises |
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| by Application | Fleet management Livestock farming Forest farming Aqua farming Horticulture |
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Global Advanced Farming Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Global Advanced Farming Market Key Players
1. John Deere & Company
2. Raven Industries, Inc.
3. AGCO Corp.
4. AgJunction Inc.
5. Trimble Inc.
6. Cisco Systems
7. IBM Corp.
8. Smart Fertilizer Management
9. Blue River Technology
10. Microsoft Corp.
11. Intel Corporation
12. ThingWorx
13. Growing Smart
14. Kubota
15. Gehl
16. Husqvarna Group
17. Hexagon Agriculture
18. OnFarm
19. SureHarvest
Frequently Asked Questions:
1. Which region has the largest share in Global Advanced Farming Market?
Ans: North America region held the highest share in 2023.
2. What is the growth rate of Global Advanced Farming Market?
Ans: The Global Advanced Farming Market is growing at a CAGR of 25% during forecasting period 2024-2030.
3. What is scope of the Global Advanced Farming Market report?
Ans: Global Advanced Farming Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Advanced Farming Market?
Ans: The important key players in the Global Advanced Farming Market are – John Deere & Company, Raven Industries, Inc., AGCO Corp., AgJunction Inc., Trimble Inc., Cisco Systems, IBM Corp., Smart Fertilizer Management, Blue River Technology, Microsoft Corp., Intel Corporation, ThingWorx, Growing Smart, Kubota, Gehl, Husqvarna Group, Hexagon Agriculture, OnFarm, and SureHarvest.
5. What is the study period of this Market?
Ans: The Global Advanced Farming Market is studied from 2023 to 2030.