Smart Farms Market Segmentation:
Technology Segment Analysis
Precision farming segment is expected to account for remarkable smart farms market share by the end of 2035. Precision farming entails extremely precise, accurate, and optimum agricultural production. It enables improved productivity, effective resource utilization, and minimal environmental impact. According to data published by the Association of Equipment Manufacturers in March 2024, by adopting precision agriculture, farmers witnessed 4% in crop production, an increase of 7% in fertilizer placement efficiency, a reduction of 9% in herbicide and pesticide use, and a reduction of 6% in fossil fuel use. Focused pesticide application with AI-assisted analysis, targeting only areas that need attention instead of a blanket application, is the best illustration of a precision farming approach. These technologies allow farmers to collect and analyze data on a plethora of factors including weather, soil conditions, and crop growth to make more informed decisions about planting, irrigation, and fertilizer use.
Application Segment Analysis
The smart farms market from the livestock monitoring and management segment is expected to grow at the fastest CAGR during the upcoming years. Smart farming technologies can be used to monitor and manage livestock in a variety of ways. Technologies such as farm management software and digital farming are used to control and automate the delivery of feed, water, and veterinary care to animals. With the use of IoT technologies like geofencing, RFID, and sensors, farmers can collect and analyze a wide range of data that can be used to improve efficiency, reduce costs, and optimize animal health and welfare.
Our in-depth analysis of the global smart farms market includes the following segments:
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