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Advanced Farming Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

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The agriculture sector, which directly or indirectly serves about 7.5 billion people globally, is being threatened by the overexploitation of resources, increasing pollution, and climate change. This has inflicted damage to the environment, the life cycles of both plants and animals, land, and crops, which has in turn impacted the agriculture sector. Amid these concerns, advanced farming is said to radically transform the practice of farming.  Advanced farming is the application of the right technology in lieu of traditional farming techniques to improve productivity, yield better crops, and minimize manual labor. Advanced farming utilizes modern technologies such as high-precision positioning (HPS) and variable-rate technology (VRT), which results in the improved monitoring of crop health while reducing wastage. Advanced farming, coupled with farming management systems (FMS) also help farmers to make informed decisions and track and monitor animal health. With a growing number of advanced farming projects, farmers can even track activities on their farm on a desktop or mobile device, even from a remote location, through training and consulting.

There are many factors driving the advanced farming market. Increasing global food demand is expected to be one of the major drivers of the market. The need for advanced farming methods amid growing land degradation is also expected to propel this market. The support programs run by government, timely initiatives from the United Nations (UN) and the Food & Agriculture Organization (FAO) is also anticipated to boost the market growth. Growing adoption of customized machinery across large farms for tillage, sowing, and plant protection and so on is also expected to further drive the market.

There are, however, many restraints to the advanced farming market’s growth. The high initial investment associated with advanced farming is expected to be one of the major restraints. Inappropriate infrastructure development and lack of information & knowledge on modern & advanced agricultural technology are also expected to hinder the growth of the advanced farming market.

The global advanced farming market can be segmented on the basis of technology, application, services, deployment, and region. On the basis of technology, the market can be sub-segmented into variable-rate technology (VRT), automated steering systems, high-precision positioning systems (HPS), integrated electronic communication, and remote sensing. On the basis of applications the market can be segmented into forest farming, livestock farming, horticulture, fleet management, and aqua farming. On the basis of services, the market can be divided into integration services, training & consulting, and maintenance services. On the basis of deployment the market can be segmented into cloud-based and on-premise.

On the basis of geography the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America and Europe are expected to witness prominent growth owing to their developed economies and markets, followed by Asia Pacific and Middle East and Africa.

Some of the major players in the global advanced farming market include 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. 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market    
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.


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