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| Global Smart Agriculture Solution Market Size |
Smart agriculture solutions enable precise monitoring of soil and crops
conditions. Precision farming helps farmers maximize yields and monitor soil
moisture, plant health through sensors and IoT devices. Smart agriculture
solutions provide soil analytics, monitor crops growth stages, detect diseases
and forecast yields through machine learning and data analytics.
The global Smart Agriculture Solution Market is
estimated to be valued at US$ 33424.85
Mn in 2024 and is expected to
exhibit a UCAGR of 6.2% over the
forecast period 2024 to 2031, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Precision farming has gained significant momentum over the years. Farmers are
increasingly adopting various smart farming techniques and precision farming
tools such as GPS, GIS, drones, robotic milking systems, sensors and automated
harvesting machines to optimize yields. Real-time soil and crop monitoring
helps farmers analyze field variability and apply precise amount of water,
fertilizers and pesticides as per need of crops. These tools improve
operational efficiency, reduce production costs and minimize environmental
impact. Precision farming plays a crucial role in meeting the challenge of
increasing global food demand amid scarce resources and changing climate.
Growing acceptance of advanced technologies in agriculture is anticipated to
propel the smart agriculture solution market growth over the forecast period.
Segment Analysis
The smart agriculture solution market comprises soil sensing, yield monitoring,
disease detection, irrigation management, and others. Among these, the soil
sensing segment dominates the market with over 30% share owing to its
cost-effectiveness and ability to detect soil health and fertility level. It
helps farmers apply optimal nutrients and irrigation based on soil needs.
Key Takeaways
The Global
Smart Agriculture Solution Market Size is expected to witness high
growth. The global Smart Agriculture Solution Market is estimated to be valued
at US$ 33424.85 Mn in 2024 and is expected to exhibit a UCAGR of 6.2% over the forecast period
2024 to 2031.
Regional analysis related content comprises
The North American region dominates the smart agriculture solution market with
over 35% share. This is attributed to growing adoption of smart farming
techniques among large-scale production farms in the US and Canada.
Furthermore, supportive government initiatives promoting use of IoT and AI in
farming practices are driving market growth in this region. Asia Pacific is
expected to be the fastest growing regional market during the forecast period.
Rapid infrastructure development and increasing consumer demand for food are
factors expected to boost adoption of smart agriculture technologies in
countries like India and China.
Key players related content comprises
Key players operating in the smart agriculture solution market are Halliburton,
Ashland Global Specialty Chemicals Inc., Ecolab Inc., Baker Hughes Inc.,
Innospec Inc., JSC Gazprom Neftekhim Salavat, BASF SE, Evonik Industries AG,
Clariant AG, GasHydrate LLC, and Schlumberger Limited. Ecolab Inc. aims to
strengthen its position by expanding software capabilities in its smart
agricultural product offerings. BASF SE focuses on enhancing its digital
farming portfolio through collaborations and acquisitions.
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