Market Research Blog

The global precision farming market was valued at USD 3.1 Bn in 2021. The market is projected to grow USD 11.2 Bn in 2028, at a CAGR of 25.2%. Cannabis growing through precision farming and potential market prospects in Asia Pacific and the Middle East is likely to grow the market share of global precision farming market. Because the top key players in the industry are active in this sort of farming, the building-based vertical farms sector dominates the precision farming market. Building-based vertical farms generate higher revenue per square foot than shipping container-based vertical farms since the former requires less capital and has lower running costs. The rise in popularity of organic food, optimum use of vertical space and balanced energy use, ease of crop monitoring and harvesting, and decline in arable land are all key elements influencing the precision farming market's growth. However, the market's growth is hampered by large initial investments and the use of emer

The global precision farming market was valued at USD 3.1 Bn in 2021. The market is projected to grow USD 11.2 Bn in 2028, at a CAGR of 25.2%. Cannabis growing through precision farming and potential market prospects in Asia Pacific and the Middle East is likely to grow the market share of global precision farming market. Because the top key players in the industry are active in this sort of farming, the building-based vertical farms sector dominates the precision farming market. Building-based vertical farms generate higher revenue per square foot than shipping container-based vertical farms since the former requires less capital and has lower running costs. The rise in popularity of organic food, optimum use of vertical space and balanced energy use, ease of crop monitoring and harvesting, and decline in arable land are all key elements influencing the precision farming market's growth. However, the market's growth is hampered by large initial investments and the use of emer