#Global Farm Management Software and Services Industry Report
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Vertical Farming: Shaping the Future of Sustainable Food Production
Vertical Farming Industry Overview
The global vertical farming market size is expected to reach USD USD 24.95 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 20.1% from 2023 to 2030. Increased use of Internet of Things (IoT) sensors for producing crops is likely to spur market demand over the forecast period. Information obtained from the sensors is stored on the cloud and analyzed to perform the required actions. The growing automation in agriculture and increasing use of big data and predictive analytics for maximizing yields are also likely to drive the market.
Vertical farming is effective in ensuring stability in crop production and maintaining reliability even in adverse climatic conditions. It provides multiple benefits over the traditional farming technique, such as less use of water, the lesser need for agrochemicals, and low dependence on agricultural labor. Vertical farming makes use of metal reflectors and artificial lighting to maximize natural sunlight.
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Genetically modified organisms and the environmental and health effects of pesticides and other non-natural substances that are used for increasing agricultural production have encouraged consumers to adopt organic foods. According to the Organic Trade Association, the U.S. organic industry sales increased by around 5% in 2019 owing to the increased investment in infrastructure and education. As per the Organic Foods Production Act of 1990, the handlers and growers of organic products need to comply with the regulations.
Artificial lighting helps in extending the hours of natural daylight, which further increases the health, growth rate, and yield of the plants. Artificial lighting such as high-pressure sodium lighting and LED lighting can extend the availability of crops (throughout a season). LED lighting systems produce a dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.
A hydroponic system is a method of growing plants without soil. A hydroponic system eliminates the need for pesticides and artificial ripening agents and helps in producing nutritionally-rich vegetables. However, factors such as high initial investment and fewer crop varieties are likely to restrain the market growth.
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The global AI in media & entertainment market size was estimated at USD 25.98 billion in 2024 and is projected to grow at a CAGR of 24.2% from 2025 to 2030.
The global smart thermostat market size was valued at USD 4.99 billion in 2024 and is expected to grow at a CAGR of 18.5% from 2025 to 2030.
Vertical Farming Market Segmentation
Grand View Research has segmented the global vertical farming market report based on structure, growing mechanism, crop category and region
Vertical Farming Structure Outlook (Revenue, USD Million, 2017 - 2030)
Shipping Container
Building-based
Vertical Farming Component Outlook (Revenue, USD Million, 2017 - 2030)
Hardware
Lighting
Hydroponic components
Climate control
Sensors
Software
Services
System Integration & Consulting
Managed Services
Assisted Professional Services
Vertical Farming Growing Mechanism Outlook (Revenue, USD Million, 2017 - 2030)
Hydroponics
Aeroponics
Aquaponics
Vertical Farming Crop Category Outlook (Revenue, USD Million, 2017- 2030)
Fruits Vegetables, & Herbs
Tomato
Lettuce
Bell & Chili Peppers
Strawberry
Cucumber
Leafy Greens (excluding lettuce)
Herbs
Others
Flowers & Ornamentals
Perennials
Annuals
Ornamentals
Others (Cannabis, Microgreens)
Vertical Farming Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
China
Japan
India
Singapore
South Korea
South America
Brazil
Middle East and Africa (MEA)
Key Companies profiled:
AeroFarms (U.S.)
Illumitex, Inc. (U.S.)
American Hydroponics (U.S.)
Agrilution GmbH
Brightfarms Inc.
Everlight Electronics Co., Ltd.
Freight Farms
GrowUp Urban Farms Ltd.
Green Sense Farms, LLC
Vertical Farm Systems
Key Vertical Farming Company Insights
Some of the key players operating in the market include Agrilution GmbH; Aerofarm; Brightfarms Inc.; Everlight Electronics Co., Ltd; Freight Farms; GrowUp Urban Farms Ltd.; Green Sense Farms, LLC; Vertical Farm Systems.
Vertical Farm Systems is engaged in the development of fully automated growing systems with reusable medium and energy efficient climate cells. The company utilizes artificial intelligence (AI) and automation for optimized growing conditions.
Brightfarms Inc., is an indoor farming company that provides fresh packaged salad. The company sells their product locally that are grown in controlled environment. The company is inclined towards development of efficient vertical farming system with a focus on resource efficiency and sustainable practices.
Bowery Farming and Aerofarm are some of the emerging market participants in the target market.
Bowery Farming is engaged in providing solutions related to vertical farming and digital agriculture. Bowery Farming is a New York based company having farms in New Jersey, Maryland, and Pennsylvania.
Aerofarm, is a U.S.- based indoor vertical farming solution provider. The company uses artificial intelligence and plant biology to fix broken food system and improve the fresh produce growth
Recent Developments
In March 2023, BrightFarms, a pioneer in the indoor farming industry, is growing by establishing four additional regional greenhouse centers that introduce sustainably farmed leafy greens to a broader audience in the Eastern and Central United States. The newly built greenhouse centers are expected to meet the rising demand for organic food and initiate distribution to retailers by 2024. With this expansion, the company is expecting 10x revenue growth by 2024.
In February 2023, AeroFarms and Public Investment Fund (PIF), a wealth funding body of Saudi Arabia, announced a joint venture to establish indoor vertical farms in the Middle East and Saudi Arabia.
Order a free sample PDF of the Vertical Farming Market Intelligence Study, published by Grand View Research.
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Global Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Analysis 2024: Size Forecast and Growth Prospects
The autonomous beyond visual line of sight (bvlos) drones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size - The autonomous beyond visual line of sight (BVLOS) drones market size has grown exponentially in recent years. It will grow from $1.08 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to increasing demand for efficient delivery systems, growth in agricultural automation, improvements in infrastructure inspection, rising use in emergency response and disaster management, and evolving regulatory frameworks enabling BVLOS operations.
The autonomous beyond visual line of sight (BVLOS) drones market size is expected to see exponential growth in the next few years. It will grow to $3.05 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to increasing demand for logistics and delivery solutions, regulatory changes favoring drone operations, rising investment in drone technology startups, growing applications in agriculture for precision farming, and expanding use in emergency response and disaster management. Major trends in the forecast period include advancements in battery technology for longer flight times, greater emphasis on safety and cybersecurity protocols, expansion of drone-as-a-service (DaaS) models, the integration of 5G technology for improved connectivity, and the development of advanced payload systems for diverse applications.
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Scope Of Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Overview
Market Drivers - The rapid growth in the military and defense sectors is expected to propel the growth of the autonomous beyond visual line of sight (BVLOS) drone market going forward. The military and defense sector refers to the organizations and activities involved in national security, including armed forces, defense agencies, and military equipment and technology production. The rapid growth in the military and defense sectors is driven by increasing geopolitical tensions, rising defense budgets, and advancements in technology. Autonomous beyond visual line of sight (BVLOS) drones enhance the military and defense sectors by enabling long-range surveillance, reconnaissance, and logistics operations without requiring direct human control, improving operational efficiency and safety. For instance, in August 2024, according to the USA Facts, a US-based not-for-profit, nonpartisan civic initiative, the US military spent approximately $820.3 billion in 2023, accounting for roughly 13.3% of the federal budget, while in March 2023, the Department of Defense requested $842.0 billion for 2024, reflecting a 2.6% increase. Therefore, rapid growth in the military and defense sectors drives growth in the autonomous beyond visual line of sight (BVLOS) drones market.
Market Trends - Major companies operating in the autonomous beyond visual line of sight (BVLOS) drone market are focusing on developing advanced technology, such as automated ground infrastructure, to enhance delivery efficiency, improve safety during operations, and enable scalable logistics solutions for various industries. Automated Ground Infrastructure refers to the systems and technologies that facilitate drone operation, charging, and management from the ground, including docking stations and associated software. For instance, in April 2024, DroneUp, a US-based drone delivery service provider, introduced its proprietary autonomous Ecosystem, which integrates ground infrastructure, software, and drones to transform last-mile logistics for retailers, quick-service restaurants, and healthcare. DroneUp’s DBX docking station facilitates autonomous package pickup, storage, and delivery, supporting precise landings, real-time monitoring, and quick deliveries with up to 60 mph and a 30-mile range. This scalable, affordable system aims to enhance operational efficiency and is rolling out in select markets.
The autonomous beyond visual line of sight (BVLOS) drones market covered in this report is segmented –
1) By Type: Small Unmanned Aerial Vehicles (UAVs), Medium Unmanned Aerial Vehicles (UAVs), Large Unmanned Aerial Vehicles (UAVs) 2) By Product Type: Fixed Wing Drone, Rotor Drones, Hybrid Drones 3) By End-User: Agriculture And Agribusiness, Energy And Utilities, Construction And Engineering, Mining, Logistics And Transportation, Government And Military, Media And Entertainment, Other End-Users
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Regional Insights - North America was the largest region in the autonomous beyond visual line of sight (BVLOS) drones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous beyond visual line of sight (BVLOS) drones marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies - Major companies operating in the autonomous beyond visual line of sight (BVLOS) drones marker are Airbus SE, Honeywell International Inc., BAE Systems, Thales Group, L3Harris Technologies Inc., Parrot SA, Quantum Systems, Skydio, Zipline, Delair, Matternet, Flytrex Aviation, Wingcopter, Applied Aeronautics, DroneUp, EHang, Plymouth Rock Technologies, Asylon, Skyports, Amboya
Table of Contents 1. Executive Summary 2. Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Report Structure 3. Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Trends And Strategies 4. Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market – Macro Economic Scenario 5. Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Size And Growth ….. 27. Autonomous Beyond Visual Line Of Sight (BVLOS) Drones Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix
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Farm Management Software Market Analysis, Size, Research and Economic Growth Report by 2030
The global farm management software market size was estimated to be USD 3.30 billion in 2022 and is anticipated to grow at a robust compound annual growth rate (CAGR) of 16.2% from 2023 to 2030. This growth is largely driven by the rising adoption of cloud computing technologies that facilitate real-time data management for farms. FMS integrates advanced Information and Communication Technology (ICT) tools, particularly Internet of Things (IoT) devices and big data analytics, to tackle various resource constraints faced by the agricultural sector. These constraints include the scarcity of energy, water, and labor, as well as pressing social concerns, such as environmental sustainability, animal welfare, and the judicious use of fertilizers, all of which can impact agricultural productivity.
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One key development within farm management is the increased use of site-specific crop management, which allows for precise application of inputs like pesticides, thereby minimizing their use, increasing crop yields, and improving decision-making on the farm. FMS leverages data analytics to analyze historical and real-time data, enabling predictive modeling that can help farmers anticipate crop performance under different environmental conditions. By assessing factors such as weather, soil quality, and crop health, the software provides valuable insights for optimizing fertilization, pest control, and irrigation schedules. Such forecasting can help farmers maximize yield potential, while phenotyping tools enable detailed assessments of various factors influencing crop growth, such as nitrogen levels and soil pH. These insights allow for a better understanding of crop development in response to diverse environmental factors.
Agricultural industry players increasingly recognize the need to incorporate technology to enhance crop production. In developed countries, farm mechanization has boosted profitability within the agricultural sector. Today’s modern agricultural landscape relies on both software and hardware components, with equipment manufacturing incorporating embedded software applications, hardware, and network services to improve operational efficiency.
Solution Segmentation Insights:
The farm management software market is segmented into software and services. In 2022, the software segment held the largest share, accounting for 63.9% of the market revenue. This dominance is attributed to the growing realization of the benefits digital solutions offer to agriculture. Farm management software provides a wide range of benefits to agricultural businesses, such as streamlining operations, optimizing resource use, and improving decision-making through data analytics. Additionally, it aids in better crop planning, efficient inventory tracking, real-time monitoring, and remote access capabilities, which together help increase productivity and profitability.
Technological advancements are driving constant innovation in farm management software to meet evolving industry demands. For instance, in July 2023, Bushel Inc. introduced an automated grain contract entry feature in Bushel Farm, which reduces the need for manual data entry, provides useful marketing insights, offers detailed financial overviews, and helps streamline processes. This innovation empowers farmers with more insightful decision-making tools and improves overall agricultural efficiency.
The services segment is further divided into system integration & consulting, maintenance & support, assisted professional services, and managed services. Among these, the managed services segment held the largest share of 34.8% in 2022 and is expected to remain dominant throughout the forecast period. Managed services are further categorized into data services, farm operation services, and analytics services, while assisted professional services include climate information services and supply chain management services. As farmers seek to enhance productivity and profitability, they are adopting more sophisticated and efficient agricultural practices to ensure high-quality products while maintaining output levels to meet market demands.
Order a free sample PDF of the Farm Management Software Market Intelligence Study, published by Grand View Research.
#Farm Management Software Industry#Farm Management Software Market Share#Farm Management Software Market Analysis
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Variable Rate Technology (VRT) Market Size, Share, Trends, Growth and Competitive Analysis
"Global Variable Rate Technology (VRT) Market' – Industry Trends and Forecast to 2028
Global Variable Rate Technology (VRT) Market, By Product (Soil Sensing VRT, Fertilizer VRT, Seeding VRT, Crop Protection Chemical VRT, Yield Monitor VRT, Irrigation VRT, Other), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others), Farm Size (Large Farms, Small Farms, Mid-Size Farms), Offering (Hardware, VRT Service, VRT Software), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
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**Segments**
- **Hardware**: The hardware segment of the Variable Rate Technology (VRT) market includes GPS systems, handheld devices, sensors, drones, and smart farming equipment. Advancements in technology have led to the development of highly sophisticated hardware components that are integral to the successful implementation of VRT practices in agriculture. These hardware components enable precise data collection, analysis, and application of variable rate inputs, resulting in optimized agricultural practices and enhanced crop yields.
- **Software**: The software segment of the VRT market comprises precision farming software, data management tools, and decision support systems. These software solutions play a crucial role in processing the vast amounts of data collected from various sources such as sensors, drones, and satellite imagery. By leveraging advanced algorithms and analytics, farmers can make informed decisions regarding variable rate applications of fertilizers, pesticides, and irrigation, leading to improved efficiency and sustainability in agriculture.
- **Services**: The services segment of the VRT market includes consulting services, integration and implementation services, and maintenance and support services. As the adoption of VRT practices continues to grow among farmers worldwide, the demand for specialized service providers offering expertise in precision agriculture solutions is also increasing. These services assist farmers in implementing VRT technologies effectively, optimizing their operations, and maximizing the benefits of variable rate applications in agriculture.
**Market Players**
- **Deere & Company**: Deere & Company is a leading player in the VRT market, offering a wide range of precision agriculture solutions that leverage advanced hardware and software technologies. The company's innovative products enable farmers to enhance productivity, reduce input costs, and improve sustainability through precise variable rate applications.
- **Trimble Inc.**: Trimble Inc. is another prominent player in the VRT market, known for its high-precision GPS systems, data management software, and agronomic solutions. The company's comprehensive VRT offerings empower farmers to make data-driven decisions and optimize their agricultural practices for better outcomes.
- **Ag Leader Technology**: Ag Leader Technology specializes in providingAg Leader Technology has positioned itself as a key player in the Variable Rate Technology (VRT) market by offering a comprehensive suite of precision agriculture solutions tailored to the needs of modern farmers. The company's focus on innovation and customer-centric approach has enabled it to carve out a significant market share in the increasingly competitive VRT landscape. Ag Leader Technology's product portfolio includes precision farming hardware such as GPS systems, sensors, and displays, as well as a range of sophisticated software solutions for data management, analysis, and decision support.
One of the key strengths of Ag Leader Technology lies in its ability to provide integrated VRT solutions that seamlessly combine hardware and software components to deliver value-added services to farmers. By offering a holistic approach to precision agriculture, the company ensures that farmers can leverage the full potential of VRT technologies to optimize their operations, increase productivity, and maximize yields. Ag Leader Technology's emphasis on user-friendly interfaces and intuitive design also sets it apart from competitors, making it easier for farmers to adopt and implement VRT practices on their farms.
In addition to its robust product offerings, Ag Leader Technology has built a reputation for its exceptional customer support and technical assistance services. The company's team of agricultural experts and field technicians are on hand to provide guidance, training, and troubleshooting assistance to farmers looking to implement VRT solutions effectively. This personalized approach to customer service has been instrumental in fostering long-term relationships with clients and establishing Ag Leader Technology as a trusted partner in the precision agriculture industry.
As the global agriculture sector continues to face challenges such as climate change, resource constraints, and shifting consumer preferences, the demand for innovative technologies like VRT is expected to grow. Ag Leader Technology is well-positioned to capitalize on this trend by further expanding its product portfolio, enhancing its software capabilities, and strengthening its market presence through strategic partnerships and collaborations. By staying at the forefront of technological advancements and prioritizing customer success, Ag Leader Technology is poised to sustain its growth trajectory and solidify its position as a leading player in the**Global Variable Rate Technology (VRT) Market, By Product**: - Soil Sensing VRT - Fertilizer VRT - Seeding VRT - Crop Protection Chemical VRT - Yield Monitor VRT - Irrigation VRT - Other
**Crop Type**: - Cereals and Grains - Oilseeds and Pulses - Fruits and Vegetables - Others
**Farm Size**: - Large Farms - Small Farms - Mid-Size Farms
**Offering**: - Hardware - VRT Service - VRT Software
**Country**: - U.S. - Canada - Mexico - Germany - Poland - Ireland - Italy - U.K. - France - Spain - Netherlands - Belgium - Switzerland - Turkey - Russia - Rest of Europe - Japan - China - India - South Korea - New Zealand - Vietnam - Australia - Singapore - Malaysia - Thailand - Indonesia - Philippines - Rest of Asia-Pacific - Brazil - Argentina - Chile - Rest of South America - UAE - Saudi Arabia - Egypt - Kuwait - South Africa - Rest of Middle East and Africa
The global Variable Rate Technology (VRT) market is witnessing significant growth due to the increasing adoption of precision agriculture practices to enhance crop yields, optimize resource utilization, and address sustainability challenges in
Key points covered in the report: -
The pivotal aspect considered in the global Variable Rate Technology (VRT) Market report consists of the major competitors functioning in the global market.
The report includes profiles of companies with prominent positions in the global market.
The sales, corporate strategies and technical capabilities of key manufacturers are also mentioned in the report.
The driving factors for the growth of the global Variable Rate Technology (VRT) Market are thoroughly explained along with in-depth descriptions of the industry end users.
The report also elucidates important application segments of the global market to readers/users.
This report performs a SWOT analysis of the market. In the final section, the report recalls the sentiments and perspectives of industry-prepared and trained experts.
The experts also evaluate the export/import policies that might propel the growth of the Global Variable Rate Technology (VRT) Market.
The Global Variable Rate Technology (VRT) Market report provides valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Variable Rate Technology (VRT) Market Landscape
Part 04: Global Variable Rate Technology (VRT) Market Sizing
Part 05: Global Variable Rate Technology (VRT) Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
The investment made in the study would provide you access to information such as:
Variable Rate Technology (VRT) Market [Global – Broken-down into regions]
Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
Country-wise Market Size Split [of important countries with major market share]
Market Share and Revenue/Sales by leading players
Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
Market Size
Market Size by application/industry verticals
Market Projections/Forecast
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Farm Management Software Market Emerging Trends And Forecast, 2030
The global farm management software market size was estimated at USD 3.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.2% from 2023 to 2030.
The growth of the market can be attributed to the increasing implementation of cloud computing for real-time farm data management. Farm Management Software (FMS) involves the use of Information Communication Technology (ICT), particularly IoT and big data analytics, to address resource constraints such as shortage of energy, water, and labor and social issues such as environment, animal welfare and use of fertilizers, which negatively influence the agricultural production.
The adoption of remote sensing technology in the agriculture industry has increased due to the emergence of drones and GIS. The images captured through a device featuring remote sensing technology can be used for the detection of cop water stress, monitoring weeds & crop diseases, classification of crop species, and mapping of soil properties. Some open-source remote sensing software includes Quantum GIS Semi-Automatic Classification Plugin (SCP), Optical and Radar Federated Earth Observation (ORFEO) toolbox, Opticks, and PolSARPro.
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Farm Management Software Market Report Highlights
• The emergence of big data, mobile computing, and advanced sensing technology, which supports software, are shaping the market for farm management software
• The precision farming agriculture type dominated the overall market with a share of 43.5% in 2022 and is expected to continue its dominance over the forecast period
• The cloud-based deployment model is expected to witness the highest CAGR of 17.7% over the projected period
• The data collected through sensors and drones are visualized through the platforms developed by the service providers
• The software segment dominated the market in 2022, driven by the increasing recognition of digital solutions' advantages in agriculture, offering streamlined operations, efficient resource management, improved decision-making through data analytics, enhanced crop planning, better inventory tracking, and increased productivity and profitability for farmers
• Managed services are similar to third-party or outsourced services. Most growers adopt managed service providers for drone services as data collection requires special assistance
• North America dominated the market and held a share of 33.7% in 2022, owing to the increased adoption of precision agriculture, sustainability practices, data-driven decision-making, and technological advancements, empowering farmers to enhance productivity and competitiveness in the agricultural industry
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• The global AI agents market size was valued at USD 3.86 billion in 2023 and is expected to grow at a CAGR of 45.1% from 2024 to 2030.
• The global accelerated processing unit market size was estimated at USD 13.85 billion in 2023 and is projected to grow at a CAGR of 17.5% from 2024 to 2030.
Farm Management Software Market Segmentation
Grand View Research has segmented the global farm management software market based on agriculture type, deployment model, solution, and region:
Farm Management Software Agriculture Type Outlook (Revenue, USD Million, 2017 - 2030)
• Precision Farming
• Livestock Monitoring
• Smart Greenhouse
• Others
Farm Management Software Deployment Model Outlook (Revenue, USD Million, 2017 - 2030)
• Web-based
• Cloud-based
Farm Management Software Solution Outlook (Revenue, USD Million, 2017 - 2030)
• Software
• Services
o System Integration & Consulting
o Maintenance & Support
o Managed Services
o Data Services
o Analytics Services
o Farm Operation Services
o Assisted Professional Services
o Supply Chain Management Services
o Climate Information Services
Farm Management Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East and Africa (MEA)
o Kingdom of Saudi Arabia (KSA)
o UAE
o South Africa
Order a free sample PDF of the Farm Management Software Market Intelligence Study, published by Grand View Research.
#Farm Management Software Market#Farm Management Software Market size#Farm Management Software Market share#Farm Management Software analysis#Farm Management Software Industry
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Ben Alfi, CEO & Co-Founder of Bluewhite – Interview Series
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Ben Alfi, CEO & Co-Founder of Bluewhite – Interview Series
Ben Alfi is the Founder and CEO of Bluewhite, an autonomous technology company. He established the business in 2017 after more than 25 years of experience in the Israeli Air Force as a combat pilot and Head of Unmanned Systems R&D Programs.
Bluewhite focuses on improving farm resilience by providing technology that maximizes productivity and reduces operational costs. The company equips existing fleets with autonomous technology, offering a user-friendly platform and comprehensive service to help farms become more profitable and sustainable. Alfi has extensive expertise in deploying large-scale autonomous systems and has founded several successful startups. He is also actively involved in supporting Israel’s startup ecosystem, promoting values such as fellowship, innovation, and connection to the land.
After 25 years in the Israeli Air Force, you transitioned to agriculture by founding Bluewhite in 2017. Can you share more about the journey and inspiration behind starting Bluewhite, and why you chose to focus on autonomous technology for existing tractors instead of building new ones from scratch?
After two decades in the Air Force, I was inspired to apply my experience in advanced robotic systems to agriculture. In my work I saw how military-grade technology was quickly becoming mass-market-ready and understood the benefits of next-gen robotics and AI processing to disrupt industries. My co-founders and I looked for where we could have the largest impact and quickly settled on agriculture, a traditionalist industry which was ripe for innovation. We co-founded Bluewhite in 2017 to tackle the pressing challenges of labor shortages, rising operational costs, and environmental concerns that pose a crushing risk to global food production. As part of our company’s ethos, we chose to retrofit existing tractors with our autonomous technology rather than building new ones, to enable growers to immediately benefit from increased ROI without the cost and downtime of overhauling their equipment stack. This approach ensures farmers can maximize their current investments while rapidly adopting advanced technology to improve efficiency and productivity.
How does Bluewhite’s autonomous technology improve on-farm efficiency and reduce input costs for growers?
Bluewhite’s technology combines hardware and software into a seamless solution that allows for complete remote fleet management. Pathfinder, our hardware offering, which can be retrofitted onto any tractor, uses computer vision, AI, and smart implement integration to perform tasks like seeding, spraying, mowing and more autonomously. This allows growers to direct their limited work force toward higher-value tasks like farm management or skilled labor, and benefit from boosted productivity. This leads to significant reductions in labor costs, and chemical usage, ultimately decreasing overall production costs by up to 85% while increasing efficiency through data-driven operation planning. By maximizing inputs and minimizing both material waste and down time, autonomous agriculture is the critical solution for increasing yields and profits to ensure global food supply.
According to a recent McKinsey report, AI can add significant economic value in agriculture. Can you share specific examples of how Bluewhite’s technology contributes to this economic value both on and off the farm?
Bluewhite’s technology focuses on on-farm efficiency by automating labor-intensive tasks, which leads to significant cost reductions (reduced labor costs by 40-50%). For instance, our autonomous systems can limit inputs with precision materials application, automate streamlined tasks, and work round-the-clock, reducing the need for manual labor, improving safety and application quality in the farm and optimizing the use of inputs like chemicals. Savings from increased efficiency enable lower prices on produce and food for shoppers and increased profitability for distributors and retailers, contributing to a more resilient and sustainable agricultural sector, capable of weathering supply chain shocks to meet demand amidst resource scarcity and inflation.
How does the use of Bluewhite’s autonomous systems contribute to environmental sustainability, particularly in terms of reducing chemical usage and improving soil health?
Our autonomous systems minimize the overall quantity of toxic chemicals used. Precise and accurate chemical application enables the protection of local ecology and health from undue harm caused by toxic run-off or wind drift. By reducing unnecessary miles driven and optimizing resource allocation, Bluewhite is helping lower the overall carbon footprint of agricultural operations.
What measures has Bluewhite implemented to ensure the safety of autonomous tractor operations, and how do you train farm workers to use this technology effectively?
Safety is paramount in our ethos and operations. Bluewhite prioritizes safety in its autonomous tractor operations through a multi-layered approach. The system includes continuous self-diagnostics that monitor critical components like sensors, steering, and brakes, so that any issues trigger immediate corrective actions to ensure growers’ equipment stays operational. Bluewhite offers a safety layer of field intelligence that integrates sensor fusion with LiDAR and computer vision so that tractors can navigate safely, detect anomalies, and avoid obstacles, while maintaining a safe distance from people and objects. Built-in reduction procedures and physical safety features, such as front bumpers and emergency shutdown buttons provide additional safeguards. Additionally, geofencing and location-based controls prevent tractors from breaching predefined boundaries to further prevent risk to people, crops and equipment. Lastly, while tractor operations are conducted autonomously, human operators receive real-time status updates and can intervene when necessary. Bluewhite’s comprehensive training programs, including hands-on sessions and ongoing support, ensure farm workers can efficiently transition to and manage these advanced systems, all facilitated by user-friendly platforms that do not require advanced technical skills.
How scalable is Bluewhite’s autonomous technology? Can it be adapted to different types of crops and farming conditions?
Bluewhite’s technology is highly scalable and adaptable to various crop types and farming conditions. In addition to recently signing a major manufacturing partnership with CNH Industrial, Bluewhite’s retrofitting approach remains brand-agnostic, allowing us to work with a wide array of tractors and implements. Bluewhite already works with over 20 leading permanent crop growers and has executed over 50,000 operational hours of autonomous farming across 150,000 acres of farmland in the US alone. We have successfully implemented our solutions across a range of permanent crops, including nuts, berries, apples, and grapes, as this sector faces some of the most acute labor shortages. Our technology can handle diverse farming environments, ensuring continuous operation and optimal performance even in GPS-denied or challenging conditions. Thus, Bluewhite is enabling growers to ‘grow forward’ and scale their operations sustainably.
How does Bluewhite’s Compass platform help farmers make data-driven decisions, and what kind of insights can they gain from using it?
The Compass platform collects and analyzes data from the field using advanced AI algorithms, providing farmers with real-time dashboards and insights into both the quality of their application as well as the maintenance needs and efficiency indicators of their equipment. This allows them to monitor farm operations remotely and make data-driven decisions that optimize resource allocation, improve efficiency, and increase productivity through optimized path planning and overall operations. Other types of insights gained include crop health, soil conditions, and ideal timing for various farming activities, helping farmers enhance overall farm management and profitability. The farmer’s almanac of the future is here, and it is more accurate than ever before thanks to tools like autonomous technology, AI, and machine learning.
What kind of support do you provide to farmers during and after the onboarding process to ensure the success of their autonomous farming operations?
Bluewhite offers comprehensive support during and after the onboarding process. This includes initial training sessions, hands-on assistance, and technical remote and in-field support to ensure smooth implementation and operation of our autonomous systems. We also provide regular updates and access to our customer service team to address any issues and help farmers maximize the benefits of our technology. Our goal is to enable growers to adopt autonomous technology quickly and we offer our full support to help them realize its benefits.
What future innovations and developments can we expect from Bluewhite in the field of AI-driven agriculture?
Looking ahead, Bluewhite is committed to expanding our autonomous solutions and scaling globally as we continuously enhance our technology to address new challenges and opportunities that would benefit from our services.. Recent technological successes and demonstrated achievements in computer vision and navigation, targeted application systems, and interoperability across advanced farm management systems are spurring wider adoption of autonomous agricultural technology, and helping to drive the sector towards a more efficient, and sustainable future. AI and machine learning stand at this new frontier, transforming nearly all fields, including agriculture, into a tech-centric industry equipped to meet modern challenges. Future developments for Bluewhite will include further optimization of AI and machine learning to improve operational efficiency and sustainability, as well as exploring new applications for our autonomous systems in different agricultural sectors beyond permanent crops.
With the integration of autonomous systems, how do you see the role of human labor evolving in the agriculture industry?
The integration of autonomous systems in agriculture can shift the role of human labor towards more skilled, tech-oriented, and managerial positions. Farm workers are being upskilled to manage and operate advanced technologies in a safer work environment. This evolution will also allow growers to take a more bird’s eye view of farm management and not waste time on filling labor and efficiency gaps. The labor shift also promises to create new job opportunities in tech management and maintenance, ensuring a sustainable future for the agriculture industry – which is currently suffering under the weight of acute labor shortages.
Thank you for the great interview, readers who wish to learn more should visit Bluewhite.
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Farm Management Software Market - Positive Long-Term Growth Outlook 2030
Farm Management Software Industry Overview
The global farm management software market size was estimated at USD 3.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.2% from 2023 to 2030.
The growth of the market can be attributed to the increasing implementation of cloud computing for real-time farm data management. Farm Management Software (FMS) involves the use of Information Communication Technology (ICT), particularly IoT and big data analytics, to address resource constraints such as shortage of energy, water, and labor and social issues such as environment, animal welfare and use of fertilizers, which negatively influence the agricultural production.
Gather more insights about the market drivers, restrains and growth of the Farm Management Software Market
The adoption of remote sensing technology in the agriculture industry has increased due to the emergence of drones and GIS. The images captured through a device featuring remote sensing technology can be used for the detection of cop water stress, monitoring weeds & crop diseases, classification of crop species, and mapping of soil properties. Some open-source remote sensing software includes Quantum GIS Semi-Automatic Classification Plugin (SCP), Optical and Radar Federated Earth Observation (ORFEO) toolbox, Opticks, and PolSARPro.
The increasing use of site-specific crop management is expected to reduce pesticide use, increase crop yields, and provide greater insight for farm management decisions. Farm management software equipped with advanced data analytics capabilities can process historical and real-time data to generate predictive models, enabling farmers to forecast crop performance under different environmental conditions. By analyzing factors like weather patterns, soil quality, and crop health, the software can offer valuable insights to make informed decisions regarding fertilization, pest control, and irrigation. Forecasting crop performance under various environmental situations can assist farmers in boosting their yield. Phenotyping aids in the understanding of several elements affecting crop growth, such as nitrogen depletion and soil pH levels. It is used to determine crop growth under various situations.
The players in the agriculture industry are acknowledging the need for technology infusion to increase the production of crops. The growing farm mechanization has increased the profitability of the agriculture sector in developed countries. Modern agriculture involves the use of software and hardware components. Equipment manufacturing requires embedded application software and hardware, along with network services.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
• The global aviation software market size was estimated at USD 10.68 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030.
• The global generative AI in financial services market size was estimated at USD 1,673.1 million in 2023 and is projected to grow at a CAGR of 39.1% from 2024 to 2030.
Global Farm Management Software Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments over the forecast period. For this study, Grand View Research has segmented the global farm management software market report based on agriculture type, deployment model, solution, and region.
Agriculture Type Outlook (Revenue, USD Million, 2017 - 2030)
Precision Farming
Livestock Monitoring
Smart Greenhouse
Others
Deployment Model Outlook (Revenue, USD Million, 2017 - 2030)
Web-based
Cloud-based
Solution Outlook (Revenue, USD Million, 2017 - 2030)
Software
Services
System Integration & Consulting
Maintenance & Support
Managed Services
Data Services
Analytics Services
Farm Operation Services
Assisted Professional Services
Supply Chain Management Services
Climate Information Services
Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
US
Canada
Europe
UK
Germany
France
Asia Pacific
China
India
Japan
South Korea
Australia
Latin America
Brazil
Mexico
Middle East and Africa (MEA)
Kingdom of Saudi Arabia (KSA)
UAE
South Africa
Key Companies & Market Share Insights
The market is competitive and has the presence of several key market players. These players are adopting strategies such as partnerships and collaborations to gain a competitive edge. For instance, in January 2021, Farmers Edge, Inc. announced a partnership with Google Cloud to promote the company’s services and boost the implementation of artificial intelligence, machine learning, and predictive analysis in its program. Some prominent players in the global farm management software market include:
Ag Leader Technology
AgJunction LLC
BouMatic
CropX, Inc.
CropZilla Inc.
DeLaval
DICKEY-john
Deere & Company
Corteva
CNH Industrial
Trimble Inc.
Climate LLC.
Gamaya
GEA Group Aktiengesellschaft
Farmers Edge Inc.
Gronetics
Order a free sample PDF of the Farm Management Software Market Intelligence Study, published by Grand View Research.
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"AR in Agriculture: Enhancing Efficiency or Just Overcomplicating Simple Tasks?"
As the market is still in its nascent stage, its growth is primarily driven by the increasing global demand for food, the rising population, the trend of digitalization in both industry (Industry 4.0) and agriculture (Agriculture 4.0), the need for simulated training, and the importance of precise field monitoring.
Digital technology has increasingly influenced various industries in recent years, and agriculture is no exception. Augmented Reality has emerged as a transformative force within the agricultural sector, offering innovative solutions that enhance productivity, efficiency, and sustainability.
Key Applications of Augmented Reality in Agriculture
Precision Farming: AR enables farmers to visualize and analyze critical data such as soil conditions, crop health, and weather patterns in real-time. This facilitates informed decision-making related to planting, irrigation, and harvesting, which leads to increased crop yields and optimized resource usage.
Training and Education: AR technology offers immersive training experiences, providing farmers with step-by-step guidance on equipment operation, crop management, and pest control. This contributes to skill development and better knowledge retention among agricultural professionals.
Remote Assistance: Farmers can receive virtual assistance from remote experts through AR-powered devices such as smart glasses or mobile phones. This helps in quick issue resolution, reducing downtime and improving overall farm productivity.
Crop Monitoring and Management: AR applications assist in monitoring crop health by overlaying real-time data on the condition of plants. This allows for early identification of diseases, pests, and nutrient deficiencies, enabling timely intervention and preventing potential yield losses.
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Benefits of Augmented Reality in Agriculture
Increased Efficiency: AR streamlines farm operations by providing timely information, reducing the need for manual tasks, and optimizing the use of resources.
Improved Decision-Making: Access to real-time data enables farmers to make more informed decisions regarding crop management, resource allocation, and overall farm strategy.
Sustainability: AR-facilitated precision farming practices contribute to sustainable agriculture by minimizing resource wastage, reducing environmental impact, and optimizing input usage.
Enhanced Productivity: AR tools lead to increased productivity through efficient resource management, improved crop management, and reduced operational downtimes.
Understanding Augmented Reality in Agriculture
Augmented Reality involves overlaying digital information onto the physical world, providing users with an enriched and interactive experience. In agriculture, AR integrates digital insights with the physical environment to deliver real-time data, insights, and visualizations to farmers and agricultural professionals. This technology utilizes devices such as smart glasses, smartphones, and tablets to create an immersive and informative environment.
Market Impact
The global shift towards digitization, industrialization, and sustainability has created significant opportunities for companies to invest in advanced technological tools within agriculture. Digitization is particularly evident in precision agriculture, smart farming, artificial intelligence (AI), the Internet of Things (IoT), and big data analytics, with North America and Europe leading the market.
Market Segmentation
By Application:
Indoor Farming
Outdoor Farming
By Solution:
Hardware
Software
Service
By Region:
North America: U.S., Canada, and Mexico
Europe: Germany, France, Netherlands, Italy, and Rest-of-Europe
U.K.
Asia-Pacific: Japan, India, Australia and New Zealand, and Rest-of-Asia-Pacific
China
Rest-of-the-World: South America, Middle East, and Africa
Recent Developments in the Global Augmented Reality in Agriculture Market
June 2022: Rams Creative Technologies Pvt. Ltd. announced a new partnership with Microsoft’s Mixed Reality Program (MRPP), a program designed by Microsoft for companies involved in designing, developing, and deploying mixed reality and augmented reality solutions for enterprises.
January 2022: Augmenta and Arva Intelligence entered into a partnership to promote affordable farm-ready automation, environmental enhancement, and carbon offsetting.
Report Overview : https://www.infiniumglobalresearch.com/market-reports/global-ar-in-agriculture-market
Market Drivers and Challenges
Drivers:
Digitization driving the next agricultural revolution (Agriculture 4.0)
AR as a tool for precise field monitoring
Growing demand for spatial computing applications
Challenges:
Lack of awareness
Limited research and development (R&D) and agricultural use-cases for AR
Conclusion
Augmented Reality is ushering in a new era of smart and sustainable farming practices in agriculture. By providing real-time data, enhancing decision-making, and optimizing resource use, AR is becoming an invaluable tool for farmers to meet the challenges of modern agriculture. As the market continues to develop, the integration of technology and agriculture is set to revolutionize food production and the management of agricultural resources.
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Global Agriculture Customer Segmentation Market: Transforming the Future of Agribusiness | BIS Research
The agriculture customer segmentation market is emerging as a pivotal tool for agribusinesses, enabling companies to more effectively target specific groups of farmers, distributors, and consumers based on their unique needs, behaviors, and preferences. By understanding customer segmentation, agribusinesses can tailor their products, services, and marketing strategies to optimize their reach and improve outcomes.
Understanding Agriculture Customer Segmentation
"Customer Segmentation" refers to the process of dividing a broad customer base into distinct groups based on certain characteristics, such as buying behavior, demographics, geographic location, and psychographic data. In the agricultural context, this can mean classifying farmers by their crop types, farming practices, land size, or technology adoption rates. It can also apply to segmenting customers based on market channels, such as those who prefer to buy through traditional distributors versus those who prefer online platforms.
Key segments in the agricultural sector include:
Smallholder Farmers
Commercial Farmers
Sustainable or Organic Farmers
Input Distributors
Technology Adopters
Global Market Dynamics
Several factors are driving the growth of the agriculture customer segmentation market:
Growing Demand for Personalization:
Agribusinesses are becoming more customer-centric, increasing the need for personalized products and services.
Farmers and distributors have distinct needs based on farm size, crops, location, and market challenges.
Customer segmentation helps companies offer tailored solutions to meet these specific needs.
Technological Advancements:
Data analytics, AI, and ML are enabling companies to collect and analyze large amounts of customer data.
These technologies help identify patterns within customer segments, improving targeting and resource allocation.
Increased Competition in Agribusiness:
The agriculture industry is becoming more competitive, with more companies offering innovative products.
Agribusinesses use customer segmentation to differentiate themselves and provide specialized services aligned with the specific needs of each customer group.
Request for a sample research report on agriculture customer segmentation market
Rise of Sustainable Agriculture:
Sustainability is a key trend in agriculture, with varying preferences for eco-friendly and sustainable products.
Customer segmentation helps companies target those seeking organic inputs and sustainable crop management practices.
Digital Transformation of Agriculture:
The digitalization of agriculture is increasing the demand for smart, efficient farming solutions.
Segmentation identifies and targets customers who are open to adopting digital tools such as farm management software, remote sensing, and automated machinery.
Applications of Customer Segmentation in Agriculture
Customer segmentation can be applied across various aspects of the agricultural value chain, from input supply to product marketing and farm management services.
Targeted Marketing and Sales: Agribusinesses can use segmentation to refine their marketing and sales efforts by delivering personalized messages and promotions to specific customer groups. For example, companies can develop marketing campaigns specifically for smallholder farmers in developing countries, emphasizing affordability and ease of use. At the same time, they can offer advanced technology packages for large-scale, commercial farmers in developed regions.
Product Development and Innovation: By understanding the needs of different customer segments, agribusinesses can design and develop products that better align with those needs. This may involve creating input products, such as seeds, fertilizers, and equipment, tailored for different crops or farming practices. Similarly, technology developers can design digital solutions that cater to various levels of farm management complexity, from basic software for small-scale farms to advanced precision agriculture systems for large commercial operations.
Optimizing Supply Chain Management: Customer segmentation can help agribusinesses streamline their supply chains by aligning distribution strategies with the unique requirements of different customer groups. For example, companies might develop separate supply chain models for regions with differing levels of infrastructure or connectivity. Segmentation also allows companies to optimize inventory management by predicting demand patterns based on customer profiles.
Enhancing Customer Relationships: Segmenting customers enables agribusinesses to develop stronger relationships with their clients by offering personalized services and support. This could include targeted educational programs, training sessions, and advisory services tailored to the needs of specific farming communities. For instance, companies can provide specialized guidance on precision agriculture to technologically advanced farmers while offering hands-on support to those just beginning their digital transformation journey.
Get more detailed insights on Agriculture Market Research Reports.
Challenges in the Agriculture Customer Segmentation Market
Data Collection and Management:
Collecting and managing data for accurate customer segmentation is challenging, especially for smallholder farms in developing regions lacking digital tools.
Data privacy concerns and regulatory restrictions further complicate efforts to gather customer information.
Diversity of Farming Practices:
Farming practices vary widely, even within the same region, complicating the creation of consistent customer segments.
Differences in farm size, crop types, and technology adoption require nuanced and customized segmentation strategies.
High Costs of Implementation:
Implementing effective customer segmentation strategies involves substantial investments in data analytics, technology, and human resources.
Smaller agribusinesses may struggle with these costs, making segmentation efforts financially challenging.
Future Market Prospects
As the agriculture industry continues to evolve, customer segmentation will become an increasingly valuable tool for agribusinesses. Several trends are expected to shape the future of the agriculture customer segmentation market:
AI-Driven Segmentation
Integration with Digital Agriculture Platforms
Expansion into Emerging Markets
Focus on Sustainability and Regenerative Agriculture
Talk to our Analyst to get a deeper insight of the market
Conclusion
The agriculture customer segmentation industry is playing an essential role in transforming how agribusinesses engage with farmers, distributors, and consumers. By leveraging customer segmentation, companies can develop more targeted marketing strategies, create innovative products, optimize supply chains, and strengthen relationships with their customers. As technological advancements continue and the demand for personalized agricultural solutions grows, customer segmentation will become an even more integral part of the industry’s future.
#Agriculture Customer Segmentation Market#Agriculture Customer Segmentation Industry#Agriculture Customer Segmentation Market Report#Agriculture Customer Segmentation Market Size#Agriculture Customer Segmentation Market Research#Agriculture#BIS Research
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FOMC likely to cut in September, Gold jumps as Middle East conflicts escalate
US stocks rose on Wednesday as the Federal Reserve signalled the likelihood of a September interest rate cut, while, as expected, leaving rates unchanged following its latest policy meeting.
“A reduction in the policy rate could be on the table as soon as the next meeting in September,” Fed Chair Jerome Powell said at a news conference after the meeting. “We’re getting closer to the point at which it’ll be appropriate to reduce our policy rate, but we’re not quite at that point.”
In their policy statement, Fed officials made two important changes that acknowledged recent progress in their inflation fight and that pivoted them closer to lowering rates without making any explicit commitment.
The day’s US data added to the rate cut hopes. The Chicago purchasing managers index fell to 45.3 in July, down from a seven-month high of 47.4 in June, but above forecasts for 44.8. But the pending home sales index rose 4.8% month-on-month in June to 74.3, well ahead of expectations for a 1.5% increase.
Meanwhile, ahead of Friday’s key July non-farm payrolls, the latest ADP private sector employment report showed an increased of 122,000 month-on-month, below expectations for a 150,000 advance. June's gain was revised to 155,000 from 150,000.
At the close in New York, the blue-chip Dow Jones Industrials Average was up 0.2% at 40,842, while the broader S&P 500 index gained 1.6% to 5,522, and the tech-laden Nasdaq Composite jumped 2.6% to 17,599.
Meta Platforms was the latest of the tech Magnificent Seven to release quarterly earnings, albeit after the Wednesday close. The Facebook, Instagram, and WhatsApp owner, beat estimates for the second quarter and issued a better-than-expected forecast for the current period. That sent its shares 4.6% higher in after-hours trading.
But another Magnificent Seven component, Microsoft lost 1.1% as its fourth-quarter earnings, released after the Wall Street close on Tuesday, saw cloud revenue growth miss expectations. Overall, the software giant’s earnings just edged past estimates for the quarter.
Chip stocks provided the main boost for the tech sector after Advanced Micro Devices jumped 4.4% as it posted stronger-than-expected earnings and forecast upbeat revenue for the current quarter, citing strong demand from artificial intelligence (AI). Rival NVIDIA benefited in kind, leaping 12.8%, while Broadcom gained 12.0%.
Elsewhere, Match Group was 13.2% higher after the online dating service recorded a second-quarter revenue beat and announced plans to lay off about 6% of its staff to cut costs. And Starbucks rose 2.7% after the coffee chain met expectations for quarterly profit, even as its global sales declined.
But on the downside, Pinterest dropped 14.5% after the social media group delivered a weaker-than-expected third quarter, despite achieving record global monthly active users. And health insurers Humana shed 10.6% on the back of weak forward guidance even as Q2 profit beat estimates.
With commodities, crude prices soared after the killing of Hamas leader Ismail Haniyeh in Iran heightened tensions in the Middle East, raising prospects of a wider conflict in the region hitting oil supplies.
US WTI crude climbed 5.2% to $78.61 a barrel, while UK Brent crude rose 4.0% to $80.21 a barrel.
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5G IoT Market - Forecast(2024 - 2030)
5G IoT Market Overview
The 5G IoT Market size is forecast to reach $40.5 billion by 2026, growing at a CAGR 61% from 2022 to 2026. Increased proliferation of technologies like predictive maintenance, data analytics, digital twins and others in manufacturing sector has been eventually driving the need for 5G IoT. Rising demand for connected cars equipped with advanced in-vehicle infotainment and telematics system along with increasing penetration of advanced communication infrastructure in healthcare sector to optimize surgical robots, asset tracking, telemedicine, remote health monitoring are some of the prime factors driving the global 5G IoT Market. Furthermore, with growing adoption of precision farming, agricultural drones and greenhouse automation, global 5G IoT has gained a huge traction. Rise in adoption of IoT and artificial intelligence (AI) to develop fully connected smart cities offering high speed data transmission and data analytics as a part of improving real-time monitoring is analyzed to drive the market in future years.
5G IoT Market Report Coverage
The report: “5G IoT Industry Outlook – Forecast (2022-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the 5G IoT Industry.
By Solution: Hardware, Cellular Connectivity, Software, Services
By Organization Size: SME, Large Enterprises
By Radio Technology: 5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture
By Range: Short Range 5G IoT devices, Wide Range 5G IoT devices
By Application: Predictive Maintenance, Business Optimization, Asset Tracking and Management, Logistics & Supply Chain Management, Automation Control and Management, Others
By End Users: Manufacturing (Medical & Pharmaceutical, Chemical, Food & Beverage, FMCG, Metal, Machinery & Equipment, Semiconductor & Electronics, Others), Transportation & Logistics, Consumer, Oil & Gas, Automotive, Ports, Energy, Smart City, Smart Building, Retail, Agriculture, Healthcare, Education, Smart Events & Stadia, Mining, Utilities, Others
By Geography: North America (US, Canada, Mexico), Europe (Germany, U.K, France, Spain, Italy, Others), APAC (China, Japan, Malaysia, Thailand, South Korea, Philippines, Hong Kong, Others), South America (Brazil, Argentina and others), RoW (Middle East and Africa)
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Key Takeaways
5G New Radio Standalone architecture is analyzed to witness highest growth in the 5G IoT Market during 2022-2026 owing to increased performance, super-fast response times and faster access to higher data rates.
APAC 5G IoT Market held the largest share in 2021, attributing to factors like rising demand for more reliable connectivity and more bandwidth between devices among manufacturers as a part of optimizing smart industrial operations including process automation, remote monitoring, collaborative robots, predictive analytics, augmented reality, additive manufacturing.
Increased proliferation of technologies like predictive maintenance, data analytics, digital twins and others in manufacturing sector along with rise in demand for connected cars equipped with advanced in-vehicle infotainment and telematics system are analyzed to significantly drive the global 5G IoT Market during the forecast period 2022-2026.
5G IoT Market Segment Analysis- By Radio Technology
By radio technology, 5G IoT Market has been segmented into 5G New Radio Standalone Architecture, 5G New Radio Non-Standalone Architecture. 5G New Radio Standalone Architecture is analyzed to grow with the highest CAGR of 72% during the forecast period 2022-2026. As compared to 5G non-standalone architecture, standalone architecture acts as a more efficient solution, which includes increased performance, better flexibility, and reduced complexity, attributing to its market growth. Rising adoption of connected cars, immersive media, automated guided vehicles or cobots control need super-fast response times and faster access to higher data rates, which is enabled by SA architecture, and thus such beneficiary capabilities of 5G standalone technology are boosting its market growth. In May 2021, Swisscom announced its plans to strengthen its long-term strategic partnership commitment to Ericsson with a deal including 5G Standalone (SA) rollout. This 5G SA is analyzed to enable Swisscom to deliver superior network performance and new use cases comprising logistics, energy, factory, mining, and airport and so on. Such factors are further set to propel the market growth of 5G IoT Market in the long run.
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5G IoT Market Segment Analysis- By End Users
By end users, 5G IoT market has been segmented into Manufacturing, Transportation & Logistics, Consumer, Oil & Gas, Automotive, Ports, Energy, Smart City, Smart Building, Retail, Agriculture, Healthcare, Education, Smart Events & Stadia, Mining, Utilities and Others. Automotive sector is analyzed to witness the highest growth with a CAGR 70% during 2022-2026. The demand for future mobility and automated driving coupled with enhanced multimedia and infotainment features in the car is attributing to the market growth. Rising investment towards infotainment solutions with 5G connectivity for seamless and delay-free video and music streaming along with the integration of weather forecasts, or information on the current traffic situation is another prime factor contributing towards market growth. Expansion of digital infrastructure is set to lead to a huge increase in data in the automotive sector. According to a report published by Acta Verba, in advanced connected cars, the data flow is to reach 1 GB per vehicle per day, and it will further explode by 30 times to 1 TB of data per vehicle, per month, by 2025. This creates a need for significantly more bandwidth and faster data processing capabilities close to end users and mobile devices at the digital edge, and such factors are contributing towards expansion of 5G IoT Market. In December 2021, Volkswagen announced the deployment of Nokia’s industrial-grade private 5G wireless network at the company’s main plant in Wolfsburg, Germany. This development was done to help the facility achieve real-time connectivity for IoT sensors, connected vehicles and machinery, supporting intelligent networking of production robots and wireless assembly tools. Such factors are set to drive the market forward in the coming years.
5G IoT Market Segment Analysis- By Geography
By Geography, 5G IoT Market has been segmented into North America, Europe, APAC, South America and Others. APAC dominated the 5G IoT Market with a share of 34% in 2021, owing to burgeoning demand for next-generation high-speed mobile internet among manufacturers in this region for more reliable connectivity and more bandwidth between devices. Rising partnerships between telecom operators and IoT network providers in APAC region with an aim to enable enterprises running more automated, productive, sustainable and safer businesses with harmonized service level agreements, while providing real-time insights is resulting in speedy expansion of the market. Although 4G can accommodate Industry 4.0 capabilities, 5G is analysed to be the true accelerator for digitalization and the key to implementing features like IoT, advanced robotics and remote machine control, and augmented/virtual reality (AR/VR) to enterprises, with the manufacturing and energy sectors taking the lead in its adoption. According to GSMA, APAC 5G Industry Community is formed by 12 Contributing members and the existing IoT community and 5G emerging market community with over 500 members in more than 30 countries with an aim to build a platform for people who are passionate about 5G benefits to industries and enterprises, to connect with peers and share their knowledge, requirement, and build the ecosystem to support each other to drive businesses forward with the new technologies in APAC. Furthermore, growing investment towards smart city infrastructure, equipped with advanced security features for real-time surveillance, large scale monitoring by local authorities and backed up by analytics, Artificial Intelligence (AI), Internet-of -Things (IoT) and data-driven insights is one of the key factors driving its market growth within the region. In January 2022, Qualcomm announced collaboration with Cybertrust Japan Co., Ltd. and SB Technology Corp. through the Qualcomm IoT Services Suite offering to proliferate smart Cities and 5G IoT solutions in Japan. This collaboration was done to explore projects with Qualcomm Smart Cities Accelerator Program ecosystem members and develop smart solutions for use cases across smart cities, smart campuses, smart parking, smart energy-management, smart security, smart factories, and more in this country. Such developments are set to create significant growth opportunities for the market during 2022-2026.
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5G IoT Market Drivers
Increased proliferation of technologies like predictive maintenance, data analytics, digital twins and others in manufacturing sector are impacting the market growth
Increasing penetration of advanced technologies like predictive maintenance, data analytics, digital twins and others as a part of improving business insights for greater operational efficiency, better product quality, optimized supply chain performance and so on acts as major factor driving the market growth towards 5G IoT Market. The burgeoning demand for predictive maintenance in manufacturing sector leveraging critical communication infrastructure provides data analysis tools and techniques, which are used to monitor equipment condition for regular operational wear and tears, and such factors are analyzed to elevate the 5G IoT Market. Furthermore, rising investments towards connected asset monitoring enabling real-time asset data analysis assists in providing a powerful tool for productivity improvement, which in turn can also aid the market growth overtime. 5G’s enhanced bandwidth compared with other wireless communications technologies help robots and cobots to be monitored and updated in real-time as the environment changes. 5G’s low latency allows for actions to be monitored close to real-time, and such benefits of 5G are propelling the growth of the market. In November 2021, Huawei and China Mobile jointly deployed 5G enabled manufacturing solutions powered by mobile edge computing (MEC) at Haier’s smart factories. Haier is leveraging advanced technologies like artificial intelligence and machine vision at seven smart factories in China and has planned to expand in 20 factories by the end of 2022. Such new development is set to fuel the market growth in the long run.
Rise in demand for connected cars equipped with advanced in-vehicle infotainment and telematics system drives its market forward
Growing demand for connected cars equipped with advanced in-vehicle infotainment and telematics system act as a major driver boosting its market growth. The enhanced bandwidth of 5G New Radio enables richer infotainment and more immersive in-car entertainment experiences. Adoption of multi-access edge computing (MEC) platform puts processing power at the edge of the network, for faster gaming and higher quality video. Such beneficiary capabilities of 5G IoT is analyzed to positively impact the market growth overtime. Furthermore, with the substantial growth of C-V2X technology, 5G network for C-V2X infrastructure for use on on-board platforms is evolving. The rise in adoption of advanced driver assistance system (ADAS), equipped with on-board sensors, is also set to significantly trigger the growth of 5G IoT Market. Rising investments towards autonomous driving (AD) with an aim to harmonize and accelerate the introduction of intelligent transport and communication solutions is augmenting the growth of the market. According to the Economic Times, connected car shipments in the U.S. is expected to cross 80 million units during 2020 to 2025, growing at a CAGR of 10%. They moreover state that 5G cars will account for 27% of the market by 2025. In August 2021, Honda collaborated with Verizon to explore how Verizon 5G Ultra Wideband and 5G Mobile Edge Computing (MEC) can ensure fast, reliable communication between road infrastructure, vehicles and pedestrians. Verizon’s 5G and MEC platforms bring the power of the cloud closer to the vehicle, lowering latency, offering massive bandwidth, and improving communications and connectivity between drivers, other cars, traffic lights, pedestrians and emergency vehicles to improve threat detection and avoid accidents. Such developments are analyzed to propel the 5G IoT Market growth in the coming years.
5G IoT Market Challenges
High infrastructure cost related with 5G deployment and coverage hinders its market growth
5G offers a significant increase in speed and bandwidth, but its more limited range requires further infrastructure. 5G antennas and base stations are smaller in the 5G era, but more of them would have to be installed on buildings or homes to compensate for their shorter range. Cities need to install extra repeaters to spread out the waves and extend range, while also maintaining consistent speeds in more densely populated areas, and thus, deployment of additional infrastructure requires high cost, which in turn create a negative impact on the growth of the market. A small tower and 5G cell site costs $30,000–$50,000 and due to such high costs small and medium enterprises are not opting for 5G. Investments needed in key components for a 5G network coverage includes spectrum, sites, power distribution and resilient strength fibre. Such factors have been creating an adverse impact on its market growth.
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5G IoT Market Landscape
Product innovations, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the 5G IoT Market. 5G IoT top 10 companies include:
Qualcomm
Ericsson
Nokia Corporation
Samsung Electronics Co. Ltd.
AT&T Inc.
Verizon Communications Inc.
Vodafone Group Plc
Telefonica S.A.
Deutsche Telekom
SK Telecom
Recent Developments
In November 2021, Samsung announced about the launch of its latest automotive chip solutions, the Exynos Auto T5123 for 5G connectivity to enhance smarter and more connected automotive technologies for enriched in-vehicle experiences including entertainment, safety and comfort and other critical features on the road. This product is specifically designed to bring fast and seamless 5G connectivity in both standalone (SA) and non-standalone (NSA) mode to the next generation of connected cars.
In October 2021, Ericsson announced about the launch of end-to-end time critical communication for real time 5G experiences such as cloud gaming, AR/VR, and unlock new ones in remote control, mobility automation, and industrial control. With the launch of its new Critical IoT product, Ericsson is enhancing its 5G capabilities ensuring consistent low latency and high reliability demanded by time-critical applications and services for consumers, enterprises, and public sector.
In August 2021, Qualcomm announced about the launch of Qualcomm Flight RB5 5G Platform to offer both 5G and AI-capabilities for delivering a solution which will drive the next generation of high-performance, low-power, 5G drones. With this launch, Qualcomm combines heterogeneous, low-power computing and camera systems with AI, and long-range connectivity such as 5G, and Wi-Fi 6 to bring together the unparalleled power of 15 TOPS with advanced imaging capabilities and drone-to-drone communication.
#5G IoT Market#5G IoT Market Share#5G IoT Market Size#5G IoT Market Forecast#5G IoT Market Report#5G IoT Market Growth
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Farm Management Software Market: Increasing Adoption in Smart Agriculture 2023 to 2030
The global farm management software market size is anticipated to reach USD 10.58 billion by 2030, growing at a CAGR of 16.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Farm management software has witnessed remarkable growth in the agriculture industry, primarily driven by the need for increased efficiency and productivity, technological advancements, and digital transformation in agriculture. The software provides farmers with valuable tools and features to streamline farm operations, optimize resource utilization, and make data-driven decisions, ultimately enhancing productivity and reducing operational costs. For instance, a modern farm using farm management software can efficiently manage irrigation schedules based on real-time weather data, analyze soil conditions to determine optimal crop varieties, and monitor equipment performance remotely, resulting in higher yields and improved profitability.
The rising awareness of sustainability and environmental concerns has prompted farmers to adopt more eco-friendly practices. Farm management software facilitates site-specific crop management, reducing pesticide usage and minimizing environmental impact. For example, by using data from the software to identify areas with pest infestations, farmers can apply targeted treatments, reducing overall chemical usage and preserving the ecosystem's health. In addition, the integration of precision agriculture technologies with farm management software allows farmers to adopt precise and resource-efficient practices, such as variable rate application of fertilizers, further improving sustainability and resource management on the farm.
Gather more insights about the market drivers, restrains and growth of the Farm Management Software Market
Farmers’ increasing focus on crop yield, productivity, and farm efficiency is expected to positively influence the demand in the market over the forecast period. Technologies such as cloud computing and the Internet of Things (IoT) are expected to increase the usage of big data, artificial intelligence, and robots in farming. Big data is essential in providing predictive insights in agriculture, redesigning business processes, and making real-time operational decisions for altering business models.
Global IT companies such as IBM offer software solutions and big data analytics for precision farming technologies. On the contrary, startups are moving upstream in the value chain and extending their offerings to insurance and advisory services. The value chain of this market includes suppliers, agricultural OEMs, integrators & service providers, and customers. Integrators focus on covering the input supply and production aspects and act as one-stop solution providers. They provide B2B or B2C software solutions and physical products. Service providers help reduce downtime, increase equipment utilization, and enhance vehicle-to-vehicle communication, promoting operational efficiency. Service providers for seed-related activities offer advisory services for seed selection, which help farmers maximize yield productivity. Big-data service providers act as intermediaries between clients and suppliers and offer data-driven advice.
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The global dispatch console market sizewas valued at USD 1.95 billion in 2024 and is projected to grow at a CAGR of 5.0% from 2025 to 2030.
The global video surveillance market size was estimated at USD 73.75 billion in 2024 and is projected to grow at a CAGR of 12.1% from 2025 to 2030,
Farm Management Software Market Segmentation
Grand View Research has segmented the global farm management software market based on agriculture type, deployment model, solution, and region:
Farm Management Software Agriculture Type Outlook (Revenue, USD Million, 2017 - 2030)
Precision Farming
Livestock Monitoring
Smart Greenhouse
Others
Farm Management Software Deployment Model Outlook (Revenue, USD Million, 2017 - 2030)
Web-based
Cloud-based
Farm Management Software Solution Outlook (Revenue, USD Million, 2017 - 2030)
Software
Services
System Integration & Consulting
Maintenance & Support
Managed Services
Data Services
Analytics Services
Farm Operation Services
Assisted Professional Services
Supply Chain Management Services
Climate Information Services
Farm Management Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
US
Canada
Europe
UK
Germany
France
Asia Pacific
China
India
Japan
South Korea
Australia
Latin America
Brazil
Mexico
Middle East and Africa (MEA)
Kingdom of Saudi Arabia (KSA)
UAE
South Africa
Key Companies profiled:
Ag Leader Technology
AgJunction LLC
BouMatic
CropX, Inc.
CropZilla Inc.
DeLaval
DICKEY-john
Deere & Company
Corteva
CNH Industrial
Trimble Inc.
Climate LLC.
Gamaya
GEA Group Aktiengesellschaft
Farmers Edge Inc.
Grownetics
Order a free sample PDF of the Farm Management Software Market Intelligence Study, published by Grand View Research.
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Precision Farming Market Regional Analysis by Overview - 2032
The Reports and Insights, a leading market research company, has recently releases report titled “Precision Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Precision Farming Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Precision Farming Market?
The global precision farming market was valued at US$ 9.65 Billion in 2023, and is expected to register a CAGR of 9.7% over the forecast period and reach US$ 22.2 Bn in 2032.
What are Precision Farming?
Precision farming is an agricultural technique that employs advanced technologies such as GPS, sensors, drones, and data analytics to optimize crop management at the field level. This method enhances efficiency, productivity, and profitability by accurately monitoring and managing field variations. It allows farmers to apply the precise number of inputs like water, fertilizers, and pesticides at the optimal time and location, reducing waste, cutting costs, and minimizing environmental impact. By utilizing real-time data and insights, farmers can make more informed decisions, resulting in better crop yields and more sustainable farming practices.
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What are the growth prospects and trends in the Precision Farming industry?
The precision farming market growth is driven by various factors and trends. The precision farming market is a rapidly growing segment of the agriculture industry, driven by the increasing use of advanced technologies like GPS, sensors, drones, and data analytics. This market aims to improve farm efficiency, productivity, and sustainability through precise field management. Its growth is fueled by the rising awareness of precision farming benefits, such as cost savings, resource conservation, and enhanced crop yields. The market includes a variety of products and services, including precision equipment, software, and consulting. Investments from private and public sectors, along with technological advancements and supportive government policies, further accelerate the market's expansion and adoption globally. Hence, all these factors contribute to precision farming market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
North America
United States
Canada
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Poland
Benelux
Nordic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
South Africa
United Arab Emirates
Israel
Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
Deere & Company
Trimble Inc.
CNH Industrial N.V.
AGCO Corporation
Raven Industries, Inc.
Ag Leader Technology
PrecisionHawk
Topcon Positioning Systems, Inc.
TeeJet Technologies
DICKEY-john Corporation
Lindsay Corporation
Valmont Industries, Inc.
Descartes Labs
Farmers Edge Inc.
Iteris, Inc.
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Smart Agriculture Market Size, Share, Demand, Future Growth, Challenges and Competitive Analysis
"Global Smart Agriculture Market – Industry Trends and Forecast to 2030
Global Smart Agriculture Market, By Agriculture Type (Precision Farming, Precision Forestry, Livestock Monitoring, Smart Greenhouse, Precision Aquaculture, Others), Solution (Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, Others), Offering (Hardware, Software, Services), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Labor Management, Financial Management, Feeding Management, Milk Harvesting, Breeding Management, Fish Tracking and Fleet Navigation, Water Quality Management, HVAC Management, Others) - Industry Trends and Forecast to 2023 to 2030.
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**Segments**
- **Hardware**: This segment includes devices such as sensors, drones, GPS systems, and automated farming tools that are utilized in smart agriculture practices. These hardware components play a crucial role in data collection, monitoring, and automation of various tasks on the farm.
- **Software**: Smart agriculture software solutions focus on data analytics, predictive modeling, and farm management systems. These tools help farmers make informed decisions, optimize resource allocation, and improve overall efficiency in agricultural operations.
- **Services**: The services segment covers a range of offerings including consulting, managed services, and support for smart agriculture technologies. Service providers in this segment assist farmers in implementing and utilizing smart agriculture solutions effectively.
**Market Players**
- **Deere & Company**: Deere & Company is a prominent player offering advanced precision agriculture technologies and solutions. The company's products include precision farming equipment and digital platforms for farmers to enhance productivity and sustainability.
- **Trimble Inc.**: Trimble specializes in precision agriculture technologies that enable farmers to improve crop yield and reduce input costs through the use of GPS and other integrated technologies. Their solutions cover precision agriculture hardware and software solutions.
- **Ag Leader Technology**: Ag Leader Technology provides precision agriculture tools such as displays, guidance and steering systems, and data management software to facilitate efficient farm management practices. The company focuses on empowering farmers with data-driven insights for better decision-making.
- **IBM Corporation**: IBM offers smart agriculture solutions powered by AI and IoT technologies to help farmers optimize resource usage, monitor crop health, and predict yield outcomes. Their integrated platforms support data-driven decision-making for sustainable agriculture practices.
The Smart Agriculture Market is witnessing significant growth driven by increasing adoption of advanced technologies in the agriculture sector. Hardware components such as sensors and drones are being increasingly utilized for monitoring crop conditions and environmental factors, while software solutions are enabling farmers to analyze data for precision farming practices. The services segment is also playing a crucial role in supporting farmers in implementing and managing smart agriculture technologies effectively. KeyThe smart agriculture market is experiencing robust growth as farmers and agricultural businesses increasingly embrace advanced technologies to optimize their operations. One of the key drivers of this growth is the rising need for efficient and sustainable agricultural practices to meet the growing global food demand. Smart agriculture solutions, encompassing hardware, software, and services, offer a comprehensive set of tools to address these challenges and drive improved productivity and resource management in the agriculture sector.
In the hardware segment, the adoption of devices such as sensors, drones, GPS systems, and automated farming tools is revolutionizing how farmers collect data, monitor crops, and automate tasks on their farms. These technologies enable real-time monitoring of crop conditions, soil health, weather patterns, and other environmental factors, allowing farmers to make data-driven decisions to optimize their operations. Furthermore, the integration of hardware components with software solutions enhances the efficiency and accuracy of data collection and analysis, leading to improved crop yields and reduced input costs for farmers.
On the software front, smart agriculture solutions are empowering farmers with advanced data analytics, predictive modeling, and farm management systems. These tools enable farmers to gain valuable insights into their operations, identify trends and patterns in their data, and make informed decisions to maximize productivity and profitability. The use of precision agriculture software not only streamlines farming practices but also helps in resource allocation, risk management, and overall operational efficiency on the farm.
The services segment of the smart agriculture market is also gaining traction as service providers offer consulting, managed services, and support to assist farmers in implementing and leveraging smart agriculture technologies effectively. These services play a crucial role in guiding farmers through the adoption process, providing training and technical assistance, and ensuring the seamless integration of hardware and software solutions into their existing operations. By partnering with experienced service providers, farmers can accelerate their digital transformation journey and unlock the full potential of smart agriculture technologies.
Overall, the smart agriculture market is poised for continuous growth and innovation as advancements in technologies such as AI, IoT, and data analytics drive further enhancements in agricultural practices.**Global Smart Agriculture Market, By Agriculture Type** - Precision Farming - Precision Forestry - Livestock Monitoring - Smart Greenhouse - Precision Aquaculture - Others
**Solution** - Network Management - Agriculture Asset Management - Supervisory Control and Data Acquisition - Logistics and Supply Chain Management - Smart Water Management - Others
**Offering** - Hardware - Software - Services
**Application** - Yield Monitoring - Field Mapping - Crop Scouting - Weather Tracking and Forecasting - Irrigation Management - Farm Labor Management - Financial Management - Feeding Management - Milk Harvesting - Breeding Management - Fish Tracking and Fleet Navigation - Water Quality Management - HVAC Management - Others
The global smart agriculture market is witnessing substantial growth with the increasing adoption of advanced technologies across various agriculture types such as precision farming, livestock monitoring, and smart greenhouse solutions. The market is driven by the growing need for efficient and sustainable agricultural practices globally to meet the rising demand for food. Solutions like network management, agriculture asset management, and smart water management are enabling farmers to optimize their resource allocation and enhance overall productivity in their operations.
In terms of offerings, hardware components such as sensors, drones, and automated farming tools continue to revolutionize data collection and monitoring practices on farms, leading to improved decision-making for farmers. Software solutions are empowering farmers with advanced analytics and predictive modeling capabilities, enabling them to make informed decisions
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
Key Questions Answered with this Study
1) What makes Smart Agriculture Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Smart Agriculture Market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Smart Agriculturein next few years?
8) What is the impact analysis of various factors in the Global Smart Agriculture Market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Smart Agriculture Market?
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Precision Farming Market Size, Trends, and Business Outlook 2024 - 2030
The global precision farming market size was valued at USD 10.50 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030.
The growth of precision farming is attributed to the burgeoning proliferation of the Internet of Things (IoT) along with the use of advanced analytics by farmers. Advanced analytics is a part of data science that uses numerous tools and methods to forecast data and ensure that the crop and soil receive adequate nurturing. This helps farmers to plan their actions accordingly.
For a deep understanding of different farming aspects such as irrigation and plowing, numerous technologies such as IoT, GPS, and remote sensing application control are used. IoT helps farmers address various challenges involved in the proper monitoring of crops. It provides real-time data about environment temperature and water content in the soil through sensors placed on the farm, which assists farmers in making improved decisions about harvesting times, crop market rate, and soil management. This is one of the key factors contributing to the growth of the market for precision farming.
Gather more insights about the market drivers, restrains and growth of the Precision Farming Market
Precision Farming Market Report Highlights
• Increasing government support for adopting modern agricultural techniques and the growing need for efficiently monitoring the health of crops are expected to drive market growth
• The cloud-based software model is anticipated to gain a significant share of the market over the projected period as it reduces energy consumption and provides storage for a large amount of data while facilitating cost saving
• Innovations in GPS mapping and related farming applications are enabling farmers to operate more efficiently and increase their profit margin
• Demand for drones is expected to grow in the agriculture field as they are increasingly used to monitor irrigation systems
• Yield monitoring is expected to continue leading the application segment in terms of revenue share. It is widely used in soil monitoring since it detects soil qualities that may be used to increase yields
• The digital revolution in the agricultural sector, along with government financial incentives to farms, is likely to drive demand for precision farming in Europe in the forthcoming years
• Asia Pacific is expected to showcase the fastest growth owing to the availability of the largest agricultural land, which provides growth opportunities in countries such as China, India, Australia, and Japan
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• The global artificial intelligence in agriculture market size was valued at USD 1.91 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.5% from 2024 to 2030.
• The global industrial wireless sensor network market size was valued at USD 5.19 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of % from 2024 to 2030.
Precision Farming Market Segmentation
Grand View Research has segmented the global precision farming market report based on offering, application, and region.
Offering Outlook (Revenue, USD Million; 2017 - 2030)
• Hardware
o Automation & Control Systems
o Drones
o Application Control Devices
o Guidance System
o GPS
o GIS
o Remote Sensing
o Handheld
o Satellite Sensing
o Driverless Tractors
o Mobile Devices
o VRT
o Map-based
o Sensor-based
o Wireless Modules
o Bluetooth Technology
o Wi-Fi Technology
o Zigbee Technology
o RF Technology
o Sensing Devices
o Soil Sensor
o Nutrient Sensor
o Moisture Sensor
o Temperature Sensor
o Water Sensors
o Climate Sensors
o Others
o Antennas & Access Points
• Software
o Web-based
o Cloud-based
• Services
o System Integration & Consulting
o Maintenance & Support
o Managed Types
o Data Types
o Analytics Types
o Farm Operation Types
o Assisted Professional Types
o Supply Chain Management Types
o Climate Information Types
Application Outlook (Revenue, USD Million; 2017 - 2030)
• Yield Monitoring
o On-Farm
o Off-Farm
• Field Mapping
• Crop Scouting
• Weather Tracking & Forecasting
• Irrigation Management
• Inventory Management
• Farm Labor Management
Regional Outlook (Revenue, USD Billion, 2017 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Russia
o Italy
• Asia Pacific
o China
o Japan
o India
o Australia
o Singapore
• South America
o Brazil
• Middle East and Africa (MEA)
Order a free sample PDF of the Precision Farming Market Intelligence Study, published by Grand View Research.
#Precision Farming Market#Precision Farming Market size#Precision Farming Market share#Precision Farming Market analysis#Precision Farming Industry
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Global Animal Genetics Market worth $9.5 billion by 2028
Animal Genetics Marketin terms of revenue was estimated to be worth $6.6 billion in 2023 and is poised to reach $9.5 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as better accessibility to technologies and well-established distribution channels drive growth in the developed markets across Europe and North America. Moreover, the growing demand for livestock food products has driven the need for genetic materials and live animals, as breeders and the animal food products industry seek higher productivity standards.
Animal Genetics Market Trends
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Browse in-depth TOC on "Animal Genetics Market"
283 - Tables
77 - Figures
168 – Pages
Live animals segment accounted for the largest share of the animal genetics market
The animal genetic products segment is categorized into live animals and genetic materials. In 2022, the live animals segment commanded the largest share of the animal genetics market. This is attributed to the high demand for live animals to breed generations with high-productivity traits, high maternity ability, high growth rates, and feed efficiencies. Also, growing demand for animal proteins, the rising awareness of the benefits of genetic improvement in livestock, and the technological advancements in animal breeding are further boosting the market growth. The key players in the live animal genetics market are Genus plc, EW Group, , Cobb-Vantress, Topigs Norsvin, and Hendrix Genetics.
The poultry segment accounted for the largest share of the animal genetics market.
The live animal segment is segmented into canine, poultry, porcine, bovine, and other live animals. The poultry segment accounted for largest share of the live animal market in 2022. The high demand for poultry meat and eggs in developed countries and the increasing demand for the same in developing countries due to the growing population and rapid urbanization drive the growth of the poultry segment.
Europe accounted for the largest share of the animal genetics market.
The global animal genetics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe accounted for the largest share of the animal genetics market, followed by North America and Asia Pacific. Market growth is driven by the need to improve livestock productivity, growing demand for animal food products, and the high intake of animal-derived proteins.
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Animal Genetics Market Dynamics:
Drivers:
Growing global population and rapid urbanization
Restraints:
The emergence of alternative such as lab-based meat
Opportunities:
Innovations in phenotyping services
Challenges:
Economic sustainability in local breeds
Key Market Players:
Some of the major market players in the animal genetics market include Neogen Corporation (US), Genus (Uk), Urus (US), EW Group Gmbh (Germany), Groupe Grimaud (France).
Recent Developments:
In March 2023, URUS Group collaborated with Genetics Australia. The JV will be 60 percent owned by URUS and 40 percent owned by Genetics Australia (GA). It will have access to the full suite of GENEX products and access to the PEAK program.
In January 2023, Zoetis collaborated with VAS to give farmers better compatibility crossover between Vas's PULSE platform, a broad farm management cloud-based software, and DairyComp, a herd health system with Zoetis's CLARIFIDE genetic and fertility testing.
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Animal Genetics Market Advantages:
Improved Productivity: Animal genetics advancements enable the breeding of livestock with enhanced traits such as faster growth rates, increased milk or egg production, and efficient feed conversion, leading to higher overall agricultural productivity.
Disease Resistance: Selective breeding and genetic engineering allow for the development of animals with increased resistance to diseases, reducing the need for antibiotics and minimizing disease-related economic losses.
Quality Enhancement: Genetic improvements can lead to better meat quality, improved taste, tenderness, and nutritional content, meeting consumer demands for high-quality and nutritious products.
Environmental Sustainability: By breeding animals that require fewer resources, produce less waste, and emit fewer greenhouse gases, the industry contributes to more sustainable and eco-friendly farming practices.
Resource Efficiency: Animal genetics helps optimize resource utilization by minimizing inputs such as feed, water, and land while maximizing outputs, thus reducing the overall environmental impact of agriculture.
Biodiversity Preservation: Focused breeding programs can help conserve and protect endangered or rare animal breeds, maintaining biodiversity within livestock populations.
Reduced Food Insecurity: Enhanced genetics lead to increased food production, helping to address global food security challenges and ensuring a stable supply of animal-derived products.
Economic Benefits: Farmers can benefit from increased profitability due to improved yields, reduced mortality rates, and access to premium markets willing to pay for genetically superior products.
Human Health Research: Studying animal genetics can provide insights into human genetics and diseases, contributing to advancements in medicine and biotechnology.
Innovation and Technological Progress: The animal genetics market drives technological innovation, fostering collaborations between biotech firms, researchers, and agricultural stakeholders to develop cutting-edge solutions.
Customization: Advances in gene editing and synthetic biology enable the customization of animal genetics to meet specific market demands and consumer preferences.
Ethical Considerations: Ethical practices within the industry, such as ensuring animal welfare and addressing potential concerns, help create a more responsible and transparent approach to genetic enhancements.
In summary, the animal genetics market offers a range of advantages that encompass improved agricultural productivity, environmental sustainability, economic growth, and ethical considerations, ultimately contributing to the development of a more resilient and responsible global food system.
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