Global Smart Farming Market Share
Precision farming, a widely adopted smart farming application, is utilized by farmers across the world to increase crop yield, reduce wastage, lessen environmental costs, ensure food security, and alleviate economic security risks. It improves the traditional farming methods by combining sensors, GPS, mapping tools, robots, and real time data analytics software to customize agricultural practices such as sowing, irrigation, harvesting, and fertilizer application as per accurate requirements and reduce expenditure on them.
Precision farming, a widely adopted smart farming application, is utilized by farmers across the world to increase crop yield, reduce wastage, lessen environmental costs, ensure food security, and alleviate economic security risks. It improves the traditional farming methods by combining sensors, GPS, mapping tools, robots, and real time data analytics software to customize agricultural practices such as sowing, irrigation, harvesting, and fertilizer application as per accurate requirements and reduce expenditure on them.
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The process of market engineering involves calculation of the market statistics, market size estimation,<br />
market forecast, market crackdown, and data triangulation (the methodology for these quantitative data<br />
processes is explained in the further sections). An extensive primary research study was undertaken to<br />
gather information, and authenticate the critical numbers arrived through segmentation types, industry<br />
trends, and key players of each type of products in the market.<br />
Figure 1.3<br />
Data Triangulation<br />
PRIMARY SOURCES<br />
SECONDARY SOURCES<br />
DEMAND SIDE<br />
Interviews With:<br />
• Stockmen<br />
• Agronomists<br />
• OEMs<br />
• System Integrators<br />
• Agriculture Consultants<br />
INFORMATION<br />
SOURCED<br />
• Annual reports of key industrial<br />
players<br />
• SEC Filings<br />
• 10K reports<br />
• Investor Presentations<br />
• Journals<br />
• Press Releases<br />
• Paid & Unpaid Databases<br />
SUPPLY SIDE<br />
Interviews With:<br />
• Software Providers<br />
• Service Providers<br />
• Component Manufacturers<br />
• Distributors<br />
PRIMARY<br />
SOURCE<br />
DATA<br />
TRIANGULATION<br />
SECONDARY<br />
SOURCE<br />
• Food & Agriculture Organization<br />
Reports<br />
• Livestock Industry Associations<br />
• USDA Foreign Agricultural Service<br />
Reports<br />
INFORMATION SOURCED<br />
Key Players<br />
Competitive Landscape<br />
Opportunities/<br />
Challenges<br />
<strong>Market</strong> Size and <strong>Market</strong><br />
<strong>Share</strong> (2017-2022)<br />
Macro-economic Factors<br />
<strong>Market</strong> Estimates<br />
Geographical<br />
Analysis<br />
BIS Research Analysis<br />
REQUEST FOR<br />
SAMPLE<br />
sales@bisresearch.com www.bisresearch.com 11
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