Smart Agriculture Market Share, Size and Opportunity 2023-2030

1. Smart Agriculture Market Share, Size and Opportunity 2023-2030 The global smart agriculture market is poised for significant growth, driven by the pervasiveness of technology in the agriculture industry. The adoption of cutting-edge technologies such as the Internet of Things (IoT) and artificial intelligence (AI) by farmers, coupled with the increasing focus on livestock monitoring and disease detection, is revolutionizing farming practices and boosting the demand for smart agriculture techniques. Several macroeconomic factors, including shrinking arable land, the need to reduce Greenhouse Gas Emissions (GHG), a growing global population, and the rising dependence on agricultural products to address starvation issues, are further fueling the demand for smart agriculture practices. Access Full Report:https://www.fairfieldmarketresearch.com/report/smart-agriculture- market According to a 2020 report by the UN Food and Agriculture Organization (FAO), if current agriculture production trends continue, the number of individuals affected by hunger will exceed 840 million by 2030, putting additional pressure on the agriculture industry. This presents a significant opportunity for technology providers to scale their IT services in the agriculture domain by offering support for emerging technologies such as robotics, cloud- based solutions, AI sensors, and RFID tags using IoT. Governments are also encouraging technology adoption in agriculture, as demonstrated by initiatives like the partnership between the Indian government and Microsoft to empower small-scale farmers in India to optimize crop yield through AI sensors. Microsoft, in collaboration with state governments, farmers, and the Ministry of Electronics and Information Technology (MeitY) and Ministry of Agriculture and Farmers Welfare, is developing an AI ecosystem for farming. The increasing penetration of technology, supported

2. by government initiatives, is expected to drive the demand for smart agriculture practices and contribute to the growth of the smart agriculture market. 5G to Create Impactful Opportunities in the Smart Agriculture Market The rollout of 5G technology worldwide is expected to have a significant impact on the smart agriculture market. With its high bandwidth and cellular capabilities, 5G enables agribusinesses to gather data remotely and manage equipment effectively through IoT. This technology opens up new possibilities in the smart agriculture market, facilitating data aggregation, predictive analytics, animal monitoring and tracking, video-equipped drone operations, and the monitoring of autonomous vehicles in agriculture practices. Precision Farming to Drive Global Smart Agriculture Market Growth The increasing adoption of precision farming practices is expected to contribute significantly to the growth of the smart agriculture market. Precision farming focuses on improving the accuracy of agricultural practices and inputs by considering agro-climatic conditions and crop-specific requirements. The perceived benefits of precision farming, such as enhanced agriculture productivity, soil degradation prevention, efficient use of water resources, and reduced production costs, have driven its adoption worldwide, thereby boosting the smart agriculture market. North America to Maintain Dominance, APAC Emerges as a Lucrative Market North America, with its developed economies, is expected to maintain its dominant position in the smart agriculture market. Factors such as increasing GDP per capita and the presence of thriving technology startups have created new pathways for smart agriculture in the region. Additionally, agricultural organizations in North America have formed the North America Climate Smart Agriculture Alliance (NACSAA) to educate cultivators and enhance agricultural productivity, further bolstering the smart agriculture market's growth. In Asia Pacific (APAC), smart agriculture practices are gaining traction, supported by favorable government initiatives. The Japanese Ministry of Agriculture, for instance, provides funding for precision farming, while the Indian government carries out various initiatives to promote smart agriculture. These include digitalization of Primary Agricultural Credit Society (PACS), Pradhan Mantri Krishi Sinchayee Yojana (PMSKY), Management of Agricultural Extension in Hyderabad (MANAGE), One Nation One Market, and mentoring startups in agri-tech. APAC is expected to be a lucrative market for smart agriculture. Competitive Landscape of the Global Smart Agriculture Market Key players in the smart agriculture market include AGCO Corporation, CropMetrics, DeLaval, Ag Leader Technology, Granular Inc., and The Climate Corporation. These companies are at the forefront of developing innovative solutions to meet the evolving needs of the agriculture industry and capitalize on the growing demand for smart agriculture practices. Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com