Smart farming devices and application editable template on a smartphone vector
The Smart Spraying Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Spraying Technology Global Market Report 2024, 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
2.Smart Spraying Technology Market Characteristics
3.Smart Spraying Technology Market Trends And Strategies
4.Smart Spraying Technology market analysis
5.Smart Spraying Technology Market Size And Growth
6.Smart Spraying Technology Segmentation
7.Smart Spraying Technology Regional And Country Analysis
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27.Smart Spraying Technology Competitive Landscape And Company Profiles
28.Smart Spraying Technology Key Mergers And Acquisitions
29.Smart Spraying Technology Future Outlook and Potential Analysis
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