Precision Farming Industry 2030 Overview, Regional Outlook, Growth Report
The global precision farming market reached an estimated value of USD 10.50 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030. This growth is driven largely by the widespread adoption of the Internet of Things (IoT) and advanced analytics in agriculture. Through IoT and advanced analytics, farmers can analyze and forecast data related to crop growth, soil health, and environmental conditions, ensuring more effective crop management and optimized yields. Advanced analytics, a branch of data science, provides tools and methodologies for interpreting large volumes of data, allowing farmers to plan their actions more accurately and increase agricultural productivity. Recent technological advancements such as vertical farming, which uses carefully designed structures to maximize yields and minimize waste, have opened up numerous growth opportunities for precision farming. Additionally, investments in emerging agri...