The smart agriculture market has come into prominence in recent times, as large scale commercial agriculture, and increasing pressure for conserving natural resources has come into the spotlight. The market is witnessing a major growth in recent times as small compact devices, with 24/7 monitoring technologies, and advent of supporting technologies like GPS, drones, continues to promise new opportunities for players in the smart agriculture market. the market stood at an evaluation of US$6.55 bn in 2016. With a robust CAGR of 13.2%, it will likely reach US$23.44 bn by the end of 2025.
Rising Investment in Modernisation Promises a Major Boost
The modest income of farmers and increasing pressure on natural resources like land, water, among others has brought the agriculture sector in focus conventionally. However unlike in the distant past, today technology exists to modernise agriculture sector to monitor diseases in crops, their nourishment, and provide 24/7 water supply as necessary provide new opportunities for growth keeping in mind conventional challenges in the sector. Crop diseases can result in destruction of healthy food supply. Additionally, growing research in different genetic varieties, and their decreased resistance to diseases are major concerns for farmers and large scale commercial producers of agricultural products. The rising demand for agricultural products in the food and beverage industry, with brands like Coca Cola and Pepsi launching their natural drinks in recent times has brought back focus on growth for the smart agriculture market.
Rising Government Support Promises New Opportunities for Growth
Rising support by governments to adapt expensive IoT devices, and infrastructure will promise major growth for the smart agriculture market in the near future. The growing demand for modernisation, and the increasing environmental issues associated with colossal water usage in the sector will drive new opportunities for growth. Moreover, agriculture sector also forms the backbone of the economy with inputs to the industrial sector for a wide range of products. The increasing emphasis on quality agricultural products, growth of the food and beverage sector, and rising opportunities in emerging nations will drive new avenues for growth for players in the smart agriculture market.
Some of the key players operating in the smart agriculture market across the globe are TeeJet Technologies, Raven Industries Ltd., AgJunction Inc., SST Development Group Inc., Trimble Navigation Ltd., Deere & Co., Hexagon AB, Ag Leader Technology, and Iteris Inc.
The information presented in this review is based on a TMR report, titled “Smart Agriculture Market (Solutions - Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistic and Supply Chain Management, and Smart Water Management; Application - Precision Agriculture, Livestock Monitoring, Fish Farming, and Smart Greenhouse) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
The Global Smart Agriculture Market has been segmented as presented below:
Global Smart Agriculture Market: By Solution
- Network Management
- Agriculture Asset Management
- Supervisory Control and Data Acquisition
- Logistics and Supply Chain Management
- Smart Water Management
Global Smart Agriculture Market: By Application
- Precision Agriculture
- Livestock Monitoring
- Fish Farming
- Smart Greenhouse
Global Smart Agriculture Market, By Geography:
- North America
- Rest Of Europe
- Asia Pacific
- Rest Of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC