Smart Agriculture - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Smart Agriculture Market is accounted for $11.45 billion in 2018 and is expected to reach $30.00 billion by 2027 growing at a CAGR of 11.3% during the forecast period. Increasing income levels and command for protein-rich aqua food and rising focus of farmers on livestock monitoring and disease recognition are the major factors propelling the market growth. However, factors such as high upfront cost for use of new agricultural equipment and on the whole fragmented agriculture industry are hampering the market growth.
Smart agriculture is the method of performing the agricultural activities using highly developed technologies. This smart agriculture is the innovative way of carrying out the agricultural activities by reducing the human efforts and by making maximum consumption of the resources which are available. Smart agriculture includes the agricultural activities with the adoption of internet of thing (IoT), sensors in order to raise the productivity of the farm.
Based on the application, the precision farming application segment is likely to have a huge demand due to the growing focus on farm efficiency and productivity. The execution of precision farming tools has the potential to change the concept of agriculture for good, making traditional agricultural activities more well-organized and predictable. Precision farming technologies, such as guidance technology, smart sensors, drones, and variable rate technology (VRT), have made it possible to manage the soil and crop effectively.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increasing government support and rising awareness among cultivators. For instance, in Japan, the ministry of agriculture has been providing funds for developing precision agriculture. The farmers’ association and community-based organizations in each country play a major role in promoting a sustainable agriculture.
Some of the key players profiled in the Smart Agriculture Market include DeLaval, Deere & Company, BouMatic, Aurorass.r.l., Agribotix LLC, Trimble Inc., TOPCON, The Climate Corporation, SST Development Group, Inc., Semios Bio Technologies Inc., Precision Planting LLC, Raven Industries Inc., AgJunction LLC, AGCO Corporation and Ag Leader Technology, Inc..
Farm Sizes Covered:
• Smart Water Management
• Supervisory Control and Data Acquisition
• Agriculture Asset Management
• Network Management
• Precision Farming Application
• Livestock Monitoring Application
• Precision Aquaculture Application
• Smart Greenhouse Application
• Precision Forestry Application
• Thermoplastic Polyurethane (TPU)
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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