As per this study the Global Smart Agriculture Market was valued USD XX BN (by revenue) in 2019 and is anticipated to reach USD XX BN by 2026 with a CAGR of XX%.
Smart agriculture refers to integration of advanced technologies in the existing agricultural activities to improve yield and quality of agricultural products. It is precisely used for crop monitoring, analyzing climate conditions, cattle monitoring and for end-to-end farm management. It includes technologies such as ubiquitous computing, wireless networks, RFID tags and others for driverless tractors, automated crop watering, crop planting, pesticide spraying, weeding, crop maintenance, etc.
The market is experiencing fast-paced growth owing to favorable government support to adopt modern farming techniques to increase product yield. Growing global population coupled with rising need for agricultural outcomes to fulfill global demand is fueling market growth. Growing usage of smart techniques for livestock monitoring, reducing labor cost, and increase yield is again spurring the market demand. However, the high cost of devices along with lack of awareness among the farmer regarding benefits is expected to restrain market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of smart agriculture.
The broad smart agriculture market has been sub-grouped into type, offering and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- 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
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for smart agriculture in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Smart Agriculture Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the smart agriculture market includes 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. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.