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.
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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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