info@marketresearchfuture.com   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

Global Agricultural Farming in 2023 and Beyond

By Rashmi Phumatia , 27 January, 2023

Farming is one of the oldest businesses on which livelihood depends. With time, the methods and approaches to agriculture have also changed. Agricultural production is changing drastically with advancing technology and new farming methods.

According to reports, the global crop production market will be USD 5,813.66 billion in 2023 at a CAGR of 10.3 percent, which rose from USD 5,271.98 billion as compared to its value in  2022. Further, the crop production market is supposed to grow to USD 8,483.55 billion by 2027 at a CAGR of 9.9 percent.

The World Grain reveals that the total estimated grain crop in the EU-27 and the UK would increase to 304.4 million tonnes in 2023, as forecasted by COCERAL. The demand for fresh fruits and vegetables in Europe has increased market size and the need for large external suppliers, especially in developing countries.

The developing technologies have a significant impact on how farmers raise crops and livestock. Farm equipment is the necessary tool. Smart farming solutions will help to change operations in crop production. The reports reveal that drones in farming and the market size will increase to 4.8 billion USD by 2024. Again, the IoT (internet of things) in Europe will grow from one billion in 2020 to 2.06 billion USD by 2025.

Research also says the demand for Agribots (agriculture robots) is increasing due to a labor shortage and an increase in the need for agriculture tools. These are used to spray pesticides, herbicides, weeding, pruning, etc. From agribots to drones, technological innovations are helping to reshape the farming industry.

Thus, the studies have proven that the global smart farming market has been growing steadily over the last few years and will progress even faster in the upcoming years.

Farm Bill Projected Funding, In Billions 2019-2023

 

-2023.jpg

Latest News

2025.png
Quadric and Denso Team Up to Progress Automotive AI Semiconductors for 2025

The automotive industry will benefit significantly from strategic partnerships in artificial intelligence (AI) and its use in cars. AI integration into automobiles is projected to improve considerably in the year 2025 due to the formation of various…

Read More

2024.png
Semiconductor Trade Restrictions Threaten EV, AI, and Industrial Progress in 2025

In 2025, the global semiconductor industry is already grappling with new and complex challenges emanating from the trade wars and policy changes between the United States and China. The semiconductor industry, an essential backbone of technology…

Read More

2030.png
Surge in Demand for Semiconductors in 2025 Driven by Boom of Generative AI

The rapid use of generative artificial intelligence (AI) in 2025 has profoundly affected the semiconductor sector, resulting in unprecedented growth for advanced chip technologies. According to estimates made by the Capgemini Research Institute, this…

Read More

condition.png
Texas Faces Challenges to Balance Grid Security and AI Boom in 2025

Texas will face an emerging challenge in 2025 as the electricity grid experiences unprecedented strain from the rapid expansion of artificial intelligence (AI) data centers. Power usage has increased due to technology firms' indiscriminate placement…

Read More

Stocks.png
Tech Turmoil in 2025: Magnificent Seven Stocks Slide as Tesla Leads Market Decline

With the "Magnificent Seven”- Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla leading the fall, the US stock market saw a significant dip in early 2025. Usually seen as market drivers, these IT behemoths found themselves in the correction…

Read More

Author Pic
Rashmi Phumatia

Senior Manager