Categories: Market Research

Smart Specialty Crop Farming Global Market Size, Revenue, Growth, Industry Insights, Regional Analysis and Forecast Till 2033

The smart specialty crop farming 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 Specialty Crop Farming 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 specialty crop farming market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.28 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to growing need for sustainable farming practices, increased demand for high-quality specialty crops, government subsidies and support programs, labor shortages in agriculture, climate change and weather uncertainty.

The smart specialty crop farming market size is expected to see rapid growth in the next few years. It will grow to $3.48 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing consumer interest in high-value specialty crops, growth in the global population, increased global food demand, rising demand for premium and organic produce, and increasing investment in AgTech startups. Major trends in the forecast period include adoption of advanced technologies, vertical farming, adoption of precision agriculture, technological advancements in the internet of things (IoT), and artificial intelligence (AI) launches of new products and services.

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Scope Of Smart Specialty Crop Farming Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Smart Specialty Crop Farming Market Overview

Market Drivers –
The increasing food demand is expected to propel the growth of the smart specialty crop farming market going forward. The growing food demand is driven by population growth, rising incomes, and urbanization, leading to higher consumption of diverse and resource-intensive foods. Smart specialty crop farming helps meet food demand by optimizing resource use, improving crop yields, and enhancing sustainability through advanced technologies such as precision farming, automation, and data-driven decision-making. For instance, in January 2024, according to the United States Department of Agriculture, the US-based federal executive department responsible for developing and executing federal laws related to farming, rice production in 2023 reached 218 million centum weight or hundredweight, marking a 36% increase compared to 2022. Further, the planted area for 2023 was estimated at 2.89 million acres, representing a 30% growth from the previous year. Therefore, increasing global food demand will drive the growth of the smart specialty crop farming market.

Market Trends –
Major companies operating in the smart specialty crop farming market are integrating smart farming solutions, such as air cart technology, to enhance agricultural productivity and efficiency. Air cart technology is engineered to distribute seeds and fertilizers evenly across fields, enhancing planting accuracy and efficiency for agricultural use, specifically for seeding and fertilizing operations. For instance, in February 2024, John Deere, a US-based agricultural machinery manufacturer, launched its new C-Series air cart line, offering enhanced options for farmers to improve seeding-time productivity, quality, and accuracy. The new C-Series, available in various capacities and configurations, featured reduced maintenance requirements and enhanced seeding precision. The lineup includes the industry-exclusive EZCal calibration system for faster calibrations, greater seeding confidence, and tank scales that provide real-time updates on the remaining acreage.

The smart specialty crop farming market covered in this report is segmented –
1) By Product Type: Open Field Hardware, Controlled Environment Agriculture (CEA) Systems Hardware, Software
2) By Farm Size: Small Farm, Medium Farm, Large Farm
3) By Application: Fruits And Tree Nuts, Vegetables, Culinary Herbs And Spices, Medicinal Herbs, Other Applications

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Regional Insights –
North America was the largest region in the smart specialty crop farming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart specialty crop farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the smart specialty crop farming market are BASF SE, Deere & Company, AGCO Corporation, Hexagon AB, OSRAM GmbH, Trimble Inc., Würth Elektronik GmbH & Co. KG, Netafim Ltd., DeLaval International AB, Raven Industries Inc., Indoor Urban Farming GmbH, Ag Leader Technology Inc., Freight Farms Inc., Aerofarms LLC, Sencrop SAS, IUNU Inc., XFarm Technologies S.p.A., Hazel Technologies Inc., Climate LLC, Heliospectra AB, Oishii Farm Corporation, Arugga AI Farming Ltd., Agrivi d.o.o.

Table of Contents
1. Executive Summary
2. Smart Specialty Crop Farming Market Report Structure
3. Smart Specialty Crop Farming Market Trends And Strategies
4. Smart Specialty Crop Farming Market – Macro Economic Scenario
5. Smart Specialty Crop Farming Market Size And Growth
…..
27. Smart Specialty Crop Farming Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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