• Stacy Lawlor

Global Precision Farming Market Size to grow USD 11.2 Bn in 2028


Precision Farming Market

The Global Precision Farming Market Size was valued at USD 3.1 Bn in 2021. The market is projected to grow USD 11.2 Bn in 2028, at a CAGR of 25.2%. Cannabis growing through precision farming and potential market prospects in Asia Pacific and the Middle East is likely to grow the market share of global precision farming market.


Precision Farming Market

Request Free Sample To Learn More About This Report


COVID-19 ANALYSIS

The Covid-19 pandemic forced the closure or partial shutdown of industries, warehouses, enterprises, and educational institutions around the world. The other lockdown measures were implemented as well, including stringent social distance norms, restricted travel, and limited access to public areas, restaurants, theme parks, movie theatres, and shopping malls. Supply chain operations and logistics-related services were disrupted in almost every industry throughout the world. Vertical farming's growth has also been hampered by limited consumer and corporate spending, lockdown measures, and supply chain interruptions. The market is experiencing a downturn as a result of the Covid-19 epidemic, which has resulted in the closure of many SMEs, logistical disruptions, lockdowns, and other issues. The pandemic has forced governments all around the world to redirect their attention and resources to the health-care sector.


Vertical farming is the process of growing food in vertical levels, such as in an old warehouse, skyscraper, or shipping container. Organic foods are thought to be healthier, more nutritious, safer, and more ecologically friendly than conventional meals. Consumer food purchasing behavior is a major component that drives demand for organic food, and it is critical for producers, legislators, and suppliers to adopt successful marketing tactics. Indoor farming, unlike traditional farming, can produce crops all year, resulting in enhanced yield. Indoor farming can also preserve crops from adverse weather by employing techniques such as controlled environment agriculture technology, in which facilities employ artificial environmental control, light management, and fertigation. Growing urbanization, increasing demand for high-quality food, and autonomous agriculture techniques are some of the key drivers driving market expansion. The demand for food has increased as a result of these reasons. With an increasing population, food demand is predicted to increase significantly by 2030. Consumers can produce crops in a warehouse or a multi-story building by using the vertical cultivation technique.

Precision Farming Market

Request Free Sample To Learn More About This Report


A simulated environment for indoor crop growing can be created by combining several types of technology. Using IoT and big data analytics, the changing environment in the farming facility can be continuously evaluated. The Internet of Things (IoT) has the potential to serve as the backbone of precision farming. For instance, Indian-based company, Bimantis has developed TheGreenSage, an innovative farming system powered by IoT. The solution monitors and controls the external environment, including light, nutrients, air quality, and plant growth levels, automatically. Changes in the system and facility centres are automated thanks to the solution's utilization of connected technologies.


The shipping container-based segment dominated the global precision farming market share is expected to continue during the forecast period owing to ability of the structure to assist in the growth of crops regardless of location one of the main advantages of container farming is that it is simple to carry, and it does not require a large plot of ground or a specialized structure to begin cultivating. The hydroponics segment is dominating the market share owing to inexpensive installation costs and ease of use, hydroponics is a popular growing method. The irrigation segment is dominating the market share owing to the dependence on artificial lighting accounts for a large portion of the lighting market. Asia Pacific region is expected to dominate the market share owing to the organic food is in high demand in the region, which eats more than 75% of all veggies produced worldwide. The growth of indoor farming and organic food in the region is being fueled by a shift in customer preferences, followed by an increase in pollution, food scandals, and a rise in aversion.


Read More Details On This Report:

https://extrapolate.com/Agritech/precision-farming-market/25621


10 views