The smart spraying technology 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.
Smart Spraying Technology 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 smart spraying technology market size has grown exponentially in recent years. It will grow from $4.33 billion in 2023 to $5.2 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to precision agriculture adoption, need for resource optimization, data analytics for crop management, environmental sustainability goals, government initiatives and regulations.
The smart spraying technology market size is expected to see exponential growth in the next few years. It will grow to $10.95 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to integration with farm management systems, rising global population and food demand, climate change adaptation, increased connectivity and iot integration, global sustainability initiatives. Major trends in the forecast period include technological advancements in ai and robotics, advancements in sensor technologies, integration of artificial intelligence (ai), focus on sustainable agriculture practices, connectivity and iot integration.
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Scope Of Smart Spraying Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Spraying Technology Market Overview
Market Drivers –
Rising demand for precision farming is expected to propel the growth of the smart spraying technology market going forward. Precision farming, or precision agriculture, employs technology and data-driven methods to optimize agricultural production, including precise control of inputs such as fertilizers, pesticides, and water to meet specific field needs. Smart spraying technology is used in precision farming for enabling the precise and targeted application of pesticides and herbicides based on real-time data and field conditions. For instance, in June 2023, according to Caffini S.p.A., an Italy-based agricultural technology company, the adoption of Agriculture 4.0 in Italy experienced a significant growth rate of 31% in 2022. Furthermore, the utilization of smart farming technologies in cultivated areas increased to 8% in 2022, up from 6% in 2021. Therefore, the rising demand for precision farming will drive the growth of the smart spraying technology market.
Market Trends –
Major companies operating in the smart spraying technology market are developing advanced technologies, such as artificial intelligence-enabled spraying systems, to provide precise and real-time analysis of crop conditions and optimize pesticide and herbicide application. An artificial intelligence-enabled spraying system is an agricultural technology that utilizes machine learning algorithms and sensor data to intelligently and autonomously adjust the application of pesticides, herbicides, and other chemicals in real-time during crop spraying operations. For instance, in October 2021, Greeneye Technology, an Israel-based technology company, launched AI-enabled precision spraying technology, which is designed to significantly reduce herbicide usage by up to 78% compared to traditional broadcast spraying methods, reducing herbicide costs by over 50% on average. The system enhances weed control efficacy by using AI to detect and precisely spray weeds within the crop. The system uses a combination of hardware and deep machine learning to make real-time weed management decisions based on captured data. It calculates the precise amount of herbicide needed and applies it directly to the weeds while leaving nearby crops unaffected.
The smart spraying technology market covered in this report is segmented –
1) By Mobility: Mounted, Self-Propelled, Trailed
2) By Farm Size: Small-Sized Farms, Large-Sized Farms
3) By Application: Row Crops, Arboriculture, Viticulture, Horticulture, Other Application
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Regional Insights –
Asia-Pacific was the largest region in the smart spraying technology market in 2023. The regions covered in the smart spraying technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the smart spraying technology market report are BASF SE, Deere & Company, Syngenta Group Co., Micron Group, CNH Industrial, AGCO Corporation, Yanmar Co. Ltd., Trimble Inc., Jacto Group, Raven Industries, Hagie Manufacturing Company, Munckhof, AG Leader Technology, Horsch Maschinen GmbH, Topcon Agriculture, Ecorobotix, Blue River Technology, Agrosmart S.A, Ubiqutek Ltd., WaterBit Inc., TerraPrima Group, Greeneye Technology, Abundant Robotics Inc., CropX Technologies Ltd., Gamaya Ltd.
Table of Contents
- Executive Summary
- Smart Spraying Technology Market Report Structure
- Smart Spraying Technology Market Trends And Strategies
- Smart Spraying Technology Market – Macro Economic Scenario
- Smart Spraying Technology Market Size And Growth
…..
- Smart Spraying Technology Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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