Global Smart Agriculture Market: Overview
The rapid escalation of food demand due to the growing population worldwide is boosting the demand for smart agriculture. The smart agriculture engages advanced technologies such as Big Data, GPS, IoT and connected devices. Smart agriculture helps in automated farming, collection of data from the field and then analyses it so that the farmer can make accurate decision in order to grow high quality crop. The field data are collected with the help of sensors, cameras, micro controllers, and actuators. Then the collected data are transferred via internet to the operator or the farmer for decision making.
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Global Smart Agriculture Market: Drivers and Restraints
The major drivers of the global smart agriculture market are the increase in demand for usage of latest technologies in agriculture, rising global food demand, surging need for livestock monitoring, and increase in greenhouse farming. Due to rapid acceleration in the global population, the demand for food is also increasing and on the other hand agriculture labor is decreasing. Due to this, the individual farmers and the corporate farming houses are adopting the smart agriculture tools and equipment in order to minimize the. This will help the farmers and corporate houses to grow high quality crops in large quantity to meet the required food demand. The sensors and cameras used in smart agriculture provides information to the operator for water level, fertilizers as well as light required for growing the best quality food.
The smart agriculture market has factors limiting the market growth such as high cost of the smart devices and less awareness about the latest technologies among the farmers. The high cost involved in manufacturing of smart devices, is in turn increasing the price of the final product which is limiting the farmers in procuring the smart devices.
Global Smart Agriculture Market: Key Segments
The market for smart agriculture is segmented on the basis of solutions, applications and geography.
On the basis of solutions, the market of smart agriculture is further segmented as network management, agriculture asset management, supervisory control and data acquisition, logistic and supply chain management, smart water management and others. Network management has been heavily deployed as it involves the operations related to remote monitoring systems and it also helps in analyzing the data generated from the field. Smart water management aims to reduce human labor, minimize weather risks, and increase the off-season production by saving water and energy by the use of smart water products and chemical. The others segment includes mobility solution, connectivity solutions and quality assurance solutions.
Based on application, smart agriculture market is segmented as precision agriculture, livestock monitoring, fish farming, smart greenhouse and other. The concept of precision agriculture is based on crop and soil observing, image capturing through UAVs or drones and responding it to the operator. With the help of precision agriculture the farmers can maintain their fields and make necessary decisions in order to yield high quality and large quantity crops with the help of accurate data collected from the field. The others segment includes indoor farming, horticulture and dairy management among others. In the application segment, livestock monitoring is the fastest growing segment, growing at an influential rate.
Global Smart Agriculture Market: Regional Outlook
Geographically, the smart agriculture market is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific is the fastest growing region in the global smart agriculture market during the forecast period from 2017 to 2025. North America held the largest market share in 2016 in the market for smart agriculture.
Companies Mentioned in Report
The smart agriculture market report also provides the description of different key participants across the globe. The key players in the smart agriculture market are Deere & Co., Raven Industries, Inc., Trimble Navigation Ltd., AGCO Corporation, AgJuction Inc., AG Leader Technology, Iteris Inc., SST Development Group, Inc., Hexagon AB, TeeJet Technologies.
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The segments covered in the Smart Agriculture market are as follows:
Global Smart Agriculture Market, 2017-2025: By Solution
• Network Management
• Agriculture Asset Management
• Supervisory Control and Data Acquisition
• Logistics and Supply Chain Management
• Smart Water Management
Global Smart Agriculture Market, 2017-2025: By Application
• Precision Agriculture
• Livestock Monitoring
• Fish Farming
• Smart Greenhouse
Global Smart Agriculture Market, 2017-2025: By Geography
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o South Africa
o Rest of Middle East and Africa
• Latin America
o Rest of Latin America
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