Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "Cultivation Solutions in Smart Agriculture - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Cultivation Solutions in Smart Agriculture was valued at an estimated US$1.9 Billion in 2023 and is projected to reach US$4.1 Billion by 2030, growing at a CAGR of 11.9% from 2023 to 2030.
The growth in the smart agriculture market is driven by several factors. One of the primary drivers is the increasing global population, which is escalating the demand for food and putting pressure on agricultural systems to produce more with fewer resources. Technological advancements are making sophisticated cultivation solutions more affordable and accessible to a broader range of farmers, thereby accelerating adoption. Climate change and the need for sustainable farming practices are also propelling the market, as smart agriculture solutions offer ways to optimize resource use and reduce environmental impact.
Government initiatives and subsidies promoting the adoption of advanced agricultural technologies are further supporting market growth. Additionally, consumer demand for transparency and sustainability in food production is encouraging farmers to implement smart agriculture practices. Investments from agritech companies and venture capitalists are fostering innovation and bringing new solutions to the market. These factors collectively contribute to the rapid expansion and adoption of cultivation solutions in smart agriculture, transforming the future of farming.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Compound Environmental & Control Equipment segment, which is expected to reach US$2.2 Billion by 2030 with a CAGR of a 11.8%. The Agriculture Cloud segment is also set to grow at 12.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $487.2 Million in 2023, and China, forecasted to grow at an impressive 11.1% CAGR to reach $627.8 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Cultivation Solutions in Smart Agriculture Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Bayer AG, Biz4Intellia Inc., CropIn Technology Solutions Private Limited, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $4.1 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Cultivation Solutions in Smart Agriculture - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Technological Innovations Propel Growth in Smart Agriculture Solutions Market
- Integration of IoT in Cultivation Expands Addressable Market Opportunity
- AI and Machine Learning Strengthen Business Case for Smart Agriculture
- Rising Demand for Precision Farming Drives Adoption of Advanced Cultivation Solutions
- Sustainable Farming Practices Propel Growth in Cultivation Solutions
- Increasing Focus on Water Conservation Drives Growth in Smart Irrigation Systems
- Growing Use of Drones and Aerial Imaging Spurs Growth in Cultivation Solutions
- Here`s How Blockchain Technology is Transforming Smart Agriculture
- Rising Global Population and Food Demand Propel Adoption of Efficient Cultivation Techniques
- Enhanced Connectivity and 5G Networks Drive Growth in Smart Agriculture Solutions
- Smart Greenhouse Technologies Propel Growth in Controlled Environment Agriculture
- Expanding Adoption of Robotics in Agriculture Strengthens Business Case for Automation
- Increasing Awareness of Soil Health Management Drives Demand for Smart Cultivation Tools
- Focus on Enhancing Crop Yields and Quality Generates Demand for Smart Solutions
Select Competitors (Total 48 Featured):
- Bayer
- Biz4Intellia
- CropIn Technology Solutions Private Limited
- Dol-Sensors
- Faststream Technologies
- Ground Control Ltd.
- Hashstudioz
- Kubota Corporation
- Libelium Comunicaciones Distribuidas
- PsiBorg
- REDtone International Bhd.
- Semtech Corporation
- Telit Cinterion
- Yanmar Holding Co., Ltd.
- Yara International
For more information about this report visit https://www.researchandmarkets.com/r/loa0o2
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