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Advanced Farming Market Overview by Recent Opportunities, Growth Size, Regional Analysis and Forecasts to 2030 | Get an instant 30% discount

Advanced farming market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the advanced farming market by region.

Reportocean analyst estimates the advanced farming market to witness a CAGR of 13.44% during the forecast period 2016-2022.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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The agriculture sector feeds around 7.5 billion people that require proper lands and fresh water. However’ with the increasing pollution’ the environment is changing and resulting in damage of crops and is leading to the change in the life cycle of plants and animals. Thus’ one way to address this issue of agricultural production is to use sensing technology to make intelligent farms. Advanced farming is about utilisation of right technology to improve the cultivation regardless of using chemicals. The use of advanced farming will improve monitoring of crop health and animal’ quality of the filed’ improvement in soil (moisture and fertility)’ and yield production. It also helps in reducing wastage on the field and improves the efficiency of land and the crop.

The usage of technologies improves decision making process in agriculture. Escalating the demand of the food supply chain has mandated the utilisation of the agriculture resources. With this’ the regulatory bodies have also started developing rural areas by setting up new infrastructure to ensure the benefits of the development in these areas.

Reportocean analyst estimates the advanced farming market to witness a CAGR of 13.44% during the forecast period 2016-2022. Some of the players included in the report are Trimble Navigation’ AGCO Corp.’ John Deere & Company’ Raven Industries’ and Agjunction Inc. The advanced farming market is segmented by technologies’ applications’ services’ deployment’ and regions. The reports also talks about the investment done in all the regions by private and public sector. In regions’ Americas is expected to be the biggest market in terms of revenue contribution while Asia Pacific and the Middle East & Africa (MEA) are expected to expand the market in the upcoming years.

The study covers and analyses “Global Advanced Farming Market”. Bringing out the complete key insights of the industry’ the report aims to provide an opportunity for players to understand the latest trends’ current market scenario’ government initiative and technologies related to the market. In addition’ it will help the venture capitalist in understanding the companies better and take informed decisions.

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Region/Country Cover in the Report

Americas
US
Canada
Brazil
Mexico

Europe

Asia Pacific (APAC)
India
China
Australia
Japan

Middle East & Africa (MEA)
South Africa
The Gulf Corporation Council (GCC)

Since last few years’ with the growing food requirement and climate change concerns’ farmers across the globe have started utilizing the technology- and environment-friendly farming practices. Although this transition is mostly in the developed economies’ it is expected that in the coming years’ even the underdeveloped markets will adopt it.
The advanced farming technologies such as variable rate technology (VRT) and high precision positioning systems (HPS) help the farmers to take informed decisions such as when’ how and where to harvest the crop and increase the yield. Most of these systems are interlinked with the farming management systems (FMS). These technologies also help the farmers to track and monitor the animal health. Since past two to three years’ the cloud based FMS has started penetrating into the advanced farming market. With the help of these systems’ the farmer is able to track and monitor the farm activities from remote locations at any time from his desktop or from a mobile device. For example’ if there is some variation in the animal health’ the farmer will receive an alert message. These cloud based systems at present are popular in North America’ Western Europe’ and Australia.
There are various factors driving the advanced farming market such as government and United Nation’s (UN) support’ growing food requirement’ and need for the water management systems. But’ one of the key factors impacting the growth of the market is the high initial investments. Farmers are bit reluctant in adopting these technologies specifically in underdeveloped countries such as in Africa.

Key Players Covered in the Report
Trimble Navigation
AGCO Corp.
Deere & Company
Raven Industries
AgJunction
Cisco Systems
IBM Corp.
Microsoft Corp.
Intel Corporation
Smart Fertilizer Management
Blue River Technology
Growing Smart
ThingWorx

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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