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Smart Farming Market Analysis and Forecast (2018-2022)

The smart farming market based on solutions as hardware systems, software, and services. Hardware systems solutions type encompasses a broad range of systems including automation and control systems, sensing and navigation systems, and indoor farming equipment that are combined with each other and are supported by different data management and mapping software solutions to constitute smart farming systems and technologies. Moreover, companies also offer software products and apps for portable smart farming solutions. The smart farming services include integration and deployment of farm equipment, maintenance and support, and other services such as consultancy, veterinarian, and financial services.

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Exponential rise in world population has resulted in a greater demand for advanced farming techniques to extract higher agricultural profitability from the limited land and livestock resources. Hardware systems offered by the company are a complex network of interconnected components and software products. These components and technologies together and individually, are put to different forms of usage, for instance, for precision crop farming, livestock monitoring and management, indoor farming, and aquaculture, among others. The success of these components depends extensively on the integration of all the product types into one whole system as a smart farming solution.

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The rise of IoT technology in smart farming and the easy access to data has made the usage of software-based solutions and services more common in the last decade.

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