Global Smart Agriculture Market To Attain CAGR Of 13% By 2025
Posted On February 19, 2019
The Smart Agriculture Market is anticipated to reach USD 17.3 BN globally by the year 2025 as per the recently published report available with Value Market Research. This market was valued USD 7.3 BN (by revenue) in 2018 and is expected to showcase a whooping CAGR of 13% during 2019 – 2025. The report is a crisp read with all the key market statistics foreseeing the market growth forecast, industry developments along with latest developments in the industry.
Smart agriculture is an innovative way of carrying out agricultural activities which reduce human efforts by making maximum utilization of the resources available. Some of the application of smart agriculture includes water management, yield monitoring, irrigation control, and planting and seeding among others.
The report "Global Smart Agriculture Market Report By Type (Precision Farming, Livestock Monitoring, Smart Greenhouse And Others), By Offerings (Hardware, Software And Services), By Application (Yield Monitoring, Field Mapping, Field Scouting, Weather Tracking And Forecasting, Irrigation Management, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Labor Management, Feeding Management, Milk Harvesting, Breeding Management And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025"deals with in-depth quantitative and qualitative analyses of the market.
Rising penetration of cloud-based services, internet of things, GPS, and other similar advanced technologies is likely to augment the industry expansion. Also, increasing adoption of artificial intelligence and internet of things by farmers is also fueling market growth. The growing need for modern agriculture equipment in order to monitor livestock and disease detection are also pushing the demand for smart agriculture. As per the report, the increasing population of tech-savvy and well-educated farmers, growing concerns for decreasing arable land, and availability of advanced agriculture machines are further likely to offer a fillip to the smart agriculture market. On the flip side, high cost associated with the installation of smart agriculture equipment and lack of standardization in smart agriculture are some of the major factors which are likely to curb the market growth.
Segmentation of the market has been done in the report on the basis of type, offerings, application, and region. Type covers precision farming, livestock monitoring, smart greenhouse and others. Among which, the precision farming segment is currently holding highest share in the market owing to the growing adoption of the internet of things along with the need to maintain the sustainability in the farm production. The offering includes hardware, software, and services. Hardware segment dominating the market and is expected to remain dominant over the forecast timeline. This can be attributed to the growing adoption of smartphones, rising usage of cloud technology and the integration of GPS technology in most of the new agriculture equipment. Application area covers yield monitoring, field mapping, field scouting, weather tracking and forecasting, irrigation management, crop scouting, weather tracking and forecasting, irrigation management, farm labor management, feeding management, milk harvesting, breeding management, and others. Among which, yield monitoring is leading the segment since it helps farmers to take a decision about their fields by providing real-time information. The regional analysis includes the top five regions namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present North America is ruling the global smart agriculture market owing to the rising adoption of advanced agricultural technologies among farmers in the region. Also, the government is supporting poor farmers by creating programs such as training, campaign, and educating them about advanced agriculture equipment is again creating huge opportunity in the region.
The Report Segments Global Smart Agriculture Market -
- Precision Farming
- Livestock Monitoring
- Smart Greenhouse
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking and Forecasting
- Irrigation Management
- Farm Labor Management
- Feeding Management
- Milk Harvesting
- Breeding Management
- North America
- Latin America
- Middle East and Africa
Players profiled In The Market:
Ag Leader Technology, AgJunction, Inc., AGCO Corporation, Argus Control Systems Ltd., Agribotix LLC, Autonomous Solutions, Inc., BouMatic Robotic B.V., CNH Industrial, CLAAS, CropZilla Software, Inc., CropMetrics LLC, Drone Deploy, DeLaval International AB, DICKEY-john Corporation, Deere and Company, Farmers Edge, Inc., GEA Group, Grownetics, Inc., Gamaya, and Granular, Inc.
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