New York, USA, May 31, 2023 (GLOBE NEWSWIRE) -- The 5G Smart Farming Market is predicted to develop at a CAGR of roughly 16.14% during the forecast period, reaching a value of over USD 68.01 Billion by 2032. The increased demand for modern farm equipment that can deliver higher productivity, precision, and efficiency, as well as improved data collection and monitoring capabilities, is one of the key drivers of this expansion. This demand has emerged from both developed and developing countries, who are looking for better ways to achieve larger yields for less money and time while also reducing their environmental footprint.
As 5G-enabled applications offer increased levels of efficiency, the 5G Smart Farming Market is predicted to emerge as one of the fastest expanding categories within the global smart farming industry.
The introduction and implementation of 5G networks gives a chance to fully realise the potential of Internet of Things (IoT) technology and connected'smart agricultural' devices. Platform providers and user device components in the 5G smart farming market provide high-speed connectivity, accuracy and high-resolution information exchange, real-time asset tracking, remote and mobile finance, and automation.
Get Free Sample PDF Brochure -
https://www.marketresearchfuture.com/sample_request/11695
Competitive Analysis:
The key companies in the 5G Smart Farming Market include
- Microsoft Corporation
- John Deere
- AT&T
- T-Mobile
- GEA Group
- Siemens AG
- EIITE Inc.
- Deloitte
- Telstra Corporation Limited
- Apple Inc.
- Verizon
Scope of the Report - 5G Smart Farming Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 68.01 Billion |
| CAGR during 2023-2032 | 16.14% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends. |
| Regions Covered | North America, Europe, Asia Pacific, and Rest of the World |
Buy Now Premium Research Report - Get Comprehensive Market Insights.
A number of corporate firms, government organisations, and other industry stakeholders are supporting the 5G Smart Farming Market. For example, Microsoft launched the Agricultural Connectivity Platform (ACP) in 2020, which uses 5G technology to connect farmers to the cloud and remotely manage data generated by their machinery.
Furthermore, John Deere has recently introduced a new range of 5G-powered tractors that are compatible with its existing farm monitoring systems. Furthermore, Apple Inc. is investigating 5G-enabled agriculture use cases for its iPhones.
All of these advancements in the 5G Smart Farming Market confirm that the industry is on the verge of a thrilling revolution, as 5G-enabled applications are provided to farms throughout the world. The technology promises to revolutionise data interchange and monitoring inside the farming sector, as well as open the door to new business models and product offerings.
The implementation of 5G technology for increased, efficient, and reliable data collecting and monitoring is a prominent trend in the 5G Smart Farming Market. 5G technology provides high-speed and dependable connectivity, real-time asset tracking, and the ability to manage enormous amounts of data from many sources. As a result, market leaders such as John Deere and T-Mobile are developing and deploying 5G-enabled applications to improve the efficiency and precision of farm operations. Another significant development is the growing use of 5G-enabled autonomous tractors, drones, and other robotics applications. Such advancements are offering small and medium-scale farmers with cost-effective alternatives for increasing production and product quality.
Browse In-depth Market Research Report (Charts, Tables, Figures) on 5G Smart Farming Market -
https://www.marketresearchfuture.com/reports/5g-smart-farming-market-11695
Segment Insights:
The 5G Smart Farming Market is divided into three components: hardware, software, and services. Sensors and actuators, radio frequency identification (RFID) tags and readers, cellular modems, and other components comprise the hardware section. The growing area of 5G smart farming services, such as predictive analytics, machine learning, and remote monitoring, is likely to give the services segment a large market share during the projection period.
Regional market share and insights are accounting for the increased demand from the Asia Pacific region's small and medium-scale farmers. The availability of skilled labour and government attempts to enhance the agricultural economy will fuel regional growth.
Furthermore, as they rapidly adopt IoT technologies and innovative agricultural equipment, India, China, and Japan will contribute considerably to the growth of the 5G Smart Farming Market.
Europe is predicted to be the largest market by region, followed by North America, Asia Pacific, and the Rest of the World. Factors such as technology availability, updated and modern farm management, activity automation, and growing usage of IoT technologies will boost growth in the region. Europe's cold climate, rich acreage, and long growing season will present tremendous growth opportunities.
In North America, the availability of advanced technology such as 5G and analytics, as well as government efforts to modernise infrastructure, will drive some of the growth in the 5G smart farming industry.
These companies are concentrating on product innovation, strategic acquisitions, and alliances, as well as leveraging their market presence, to improve their services and achieve a competitive advantage in the 5G Smart Farming Market.
Related Reports:
- Self-Service Technology Market - The Self-Service Technology market industry is projected to grow USD 73.8 billion by 2030, exhibiting a CAGR of 11.87% during the forecast period (2022 - 2030).
- Smart Home Market - The smart home market is estimated to register a CAGR of over 12.3% to reach USD 254.78 Billion by the end of 2030.
- User Interface Service Market - User Interface Service Market is expected to generate a market value of USD 43.24 Billion by 2030 growing at a CAGR of 10.6%.
Browse through more Information And Communications Technology Research Reports.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Follow Us: LinkedIn | Twitter
