Advanced farming refers to the integration of cutting-edge technologies and equipment such as sensors, autonomous vehicles, drones, and robotics with traditional farming practices to increase productivity and sustainability. The advent of precision farming techniques allows farmers to remotely monitor field conditions, optimize soil and water usage, and apply agrochemicals precisely as per requirement. This helps boost crop yields while reducing environmental impact. The growing demand for food owing to the rising global population along with shrinking arable land has boosted the need for advanced farming practices.
The Global Advanced Farming Market is estimated to be valued at US$ 11.18 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Advanced Farming are Walmart, Amazon, Costco, Target, Best Buy, Home Depot, Kroger, Lowe's, Albertsons, Publix, Walgreens Boots Alliance, CVS Health, 7-Eleven, Rite Aid, Ace Hardware, Menards, Dick's Sporting Goods, L Brands, Nordstrom, Macy's. The rising adoption of IoT technologies and data analytics in agriculture will create opportunities for precision farming solution providers to offer advanced equipment, software, and services. Further, the growing demand for agricultural production and declining farmland area globally will accelerate the adoption of advanced farming practices across major countries.
Key players operating in the Advanced Farming Market Demand are Walmart, Amazon, Costco, Target, Best Buy, Home Depot, Kroger, Lowe's, Albertsons, Publix, Walgreens Boots Alliance, CVS Health, 7-Eleven, Rite Aid, Ace Hardware, Menards, Dick's Sporting Goods, L Brands, Nordstrom, Macy's. Growing investments by governments and private organizations to promote sustainable agriculture through the integration of modern technologies with traditional farming practices will boost market revenues.
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