According to a new market study entitled ” Smart Agriculture Market to 2025 – Global Analysis and Forecast by Product Type (Hardware (Sensor Based Monitoring System, Smart Detection System, GPS Enabled Ranging System and Drones), software and services (Climate Information system, Supply Chain Management, others)), and Application (Precision farming, Livestock monitoring, yield monitoring, Soil health monitoring, Irrigation System, Forestry, VRT, Asset Management and Green House)- Global Analysis and Forecasting, “explains the report, explaining the key drivers of this growth and highlighting key market players and their evolution. The report factors this growth and also highlights the major players in the market and their developments.
Global Smart Agriculture Market is expected to grow from US$ 11.30 billion in 2016 to US$ 30.01 billion by 2025 at a CAGR of 11.5% between 2017 and 2025.
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Key trend which will predominantly effect the smart agriculture market in coming year is upcoming technological advancement in this field. It is predicted that the upcoming technological advancements in this industry would enable the farmers to regulate the requirements of a crop at any explicit location and instant in a way that will be increasingly accurate, and from a distance. The companies that survive in the ecosystem would be on account of innovations and to support the development and adoption of smart agriculture techniques. The future technological advancement in the smart agriculture is expected to ease out the lengthy procedures involved in crop production and also support in making the supply chain of smart agriculture market more effective. The needs and wants of customer increase each passing day and to meet such rapidly increasing demands, it has become very important to adopt technologies that provide better result in less time and cost.
Companies profiled in this report includes, AGCO Corporation, Ag Junction Inc., AG Leader Technology, Deere & Company, Raven Industries, Inc., Semiosbio Technologies Inc., SST Development Group, Inc., Teejet Technologies, Topcon Precision Agriculture and Trimble Navigation Limited, among others.
Along with the rising trend of globalization, the people are getting more educated regarding healthy diet and thus the food and beverages industry is experiencing a sturdy shift in the food consumption pattern. More number of people today, have started including non-vegetarian food produces, which is subsequently leading to rising demand for smart agriculture market.
Global Smart Agriculture Market has been categorized by Product type majorly into three categories; hardware, software and services. The hardware segment further comprises of sensors based monitoring system, smart detection systems, GPS enabled ranging system and drones. Whereas the services segment comprises of supply chain management, climate information and other (System Integration, Maintenance and Consulting Service). The software and services market is expected to witness highest growth rates, whereas the hardware segment is expected to grow at a moderate growth rate.
Key questions answered in the report include
- What will the market size and the growth rate be in 2025?
- What are the key factors driving the global smart agriculture market?
- What are the key market trends impacting the growth of the smart agriculture market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global smart agriculture market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the smart agriculture market?
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