global smart agriculture market size was USD 19.75 billion in 2022 and to is predicted reach USD 45.07 billion in 2031, exhibiting at a CAGR of 9.6% during the forecast period.
Smart agriculture, also called precision agriculture, involves incorporating modern technologies into traditional farming methods to improve productivity, efficiency, and sustainability. It encompasses the utilization of advanced sensors, data analytics, and automation to monitor and optimize different aspects of agricultural processes. Through smart agriculture, farmers can make informed decisions based on data regarding irrigation, fertilization, pest control, and crop management. By employing Internet of Things (IoT) devices and remote sensing technologies, farmers can gather real-time data on soil moisture, weather conditions, crop health, and livestock monitoring. This data enables them to optimize resource allocation, reduce waste, minimize environmental impact, and increase yields.
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