Dublin, Jan. 27, 2023 (GLOBE NEWSWIRE) — The “Smart Agriculture Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Offering (Hardware, Software, Services), By Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouses, Others), By Company and By Region” report has been added to ResearchAndMarkets.com’s offering.
The global smart agriculture market is anticipated to observe impressive growth during the forecast period, 2023-2027.
The major factors include technological advancements and rise in demand for food. The increase in population and rapid urbanization, are driving the smart agriculture market, globally. Smart agriculture is assisting farmers to grow crops with more efficiency by utilizing advanced technologies.
Smart agriculture gives real-time data on the conditions of soil, air, and crops. It not only ensures high crop yield but makes it sustainable while conserving the environment. The other factors supporting the market’s growth are increasing awareness among farmers, growing investments in technological research and product innovation, and support from governments for infrastructure development in smart agriculture
Rising Demand for Food
Owing to the increase in population, the surge in food demand is propelling the growth of the smart agriculture market. According to the United States Food and Agriculture Organization, the world population is anticipated to reach 9 billion by 2050, which is estimated to increase demand for food then by 70%.
Farmers are likely to have pressure to increase the production of crops, which is going to impel them to opt for smart agriculture, which is expected to bolster the growth of the market. The use of smart agriculture is not only enhancing the productivity of crops, but it also reduces the wastage of valuable resources such as water, fertilizers, pesticides, and land.
In recent years, rapid advancements are done in smart…