Substantial cost cutting achieved by implementation of modern agricultural techniques and other major driving factors is expected to favour the rise in the Global Advanced Farming Market
Reports and Insights has published a new report titled, “Advanced Farming Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Advanced Farming Market, By Technology (Variable-rate Technology (VRT), High precision positioning systems, Automated steering systems, Remote sensing, Integrated electronic communication, Others), By Deployment Mode (Cloud, On-premises), By Services (Integration, Maintenance, Consulting & Training), By Application (Fleet Management, Livestock Farming, Forest Farming, Aqua Farming, Horticulture) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global advanced farming market in 2020 is estimated for more than US$ ** Bn and expected to reach a value of US$ ** Bn by 2028 with a significant CAGR of **%.
In the present times, the agricultural sector is turning out to be more data-centric and demand accurate, more upgraded and advanced data and technologies than before, regardless of being customary with basic agricultural approaches.
Today, the agriculture domain has become highly advanced in propagating databases by varied information and advanced communication technologies, for instance the Internet of Things (IoT). Years ago, agriculture was just a simple term which meant the production of vital food crops. Having said that, in this present day and age, the term ‘agriculture’ has a greater meaning and understanding as it covers broader concepts like production, contrast, processing, distribution and marketing of livestock products. All under a single term.
Attributing to the constantly multiplying population growth all around the world and related growing demand of essential food crops, there is a strong demand for advanced farming methods and modern approaches, worldwide, ultimately propelling the advanced farming market growth.
In addition to that, several support programmes initiated by regulatory authorities and governments across the world are further expected to offer major breakthroughs to the global advanced farming market in the forthcoming years.
However, lack of expertise and inadequate infrastructure required for advanced farming may slow down the market growth in the near future. In addition to that, the heavy initial investment associated with advanced farming is not likely to be affordable to a major part of the population which is further estimated to hinder the market growth in the future years.
Reports and Insights Study identifies some of the key participating players in the advanced farming market globally 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, and Growing Smart, among others.
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