ADVANCED FARMING MARKET ANALYSIS

Advanced Farming MarketSize and Trends

Advanced farming market caters to agriculture-based activities through utilization of connected and advanced information technologies for the analysis, monitoring, identifying and controlling the field operations to maximize the yield and ensure profitability. Moreover, optimum utilization of the available resources that include light, water, space, energy, and costs associated with the maintenance form the primary factors that are expected to drive overall demand.

According to Population Reference Bureau, global population in 2018, was over 7.6 billion, which is expected to cross 9.9 billion by 2050. Moreover, the urbanization of the economically developed and emerging regions is expected to witness significant growth over the forecast period, necessitating increased demands for the agricultural produce. Advanced farming systems will increase yield production and will also result in better crop quality. This will in turn drive growth of global advanced farming market, specifically in the countries with unfavorable natural climate and densely populated that include the U.S., Western Europe, China, India, and few other economies.

China, India, Russia, Indonesia, Thailand, and Brazil are among the major global agricultural production economies. These are emerging regions wherein the rural area produce accounts for the major proportion of the country produce. Lack of appropriate knowledge of the advanced farming processes, low consumer motivation, high operational complexities, and lack of affordable internet connectivity are major challenges hindering the overall market growth. Moreover, high initial cost associated with advanced farming is expected to be one of the major factor restraining growth of the global advanced farming market during the forecast period.

Proliferating incorporation of advanced sensors and precision software and hardware technologies will present strong consumer inclination for increased agricultural produce

Agricultural drones for monitoring field conditions by AgEagle; advanced analytics for agronomic analysis by Aglytix; multi-sensor Vector Probe by probe AquaSpy, Virtual Optimizer (VO) water management tool that monitors soil moisture and provides virtual agronomist services by CropMetric; and API connectivity between fleet of green and yellow earth movers by John Deere are few of the major advancements in the advanced farming market. Moreover, many other major developments to enhance agricultural produce are taking place on daily basis, is expected to garner significant growth opportunities over the forecast period.

The U.S. is expected to hold dominant position in the global advanced farming market adoption rates over the forecast period

High consumer motivation towards advanced technologies, extensive government initiatives to support the agriculture from the U.S. Department of Agriculture, and high production demands is expected to drive the regional growth over the forecast period. China, India, Indonesia, and Thailand are among the most potential markets across the globe, however, lack of proper infrastructure and knowledge for the handling of these systems will continue to interfere with the growth prospects.

Market- Trends