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Smart Agriculture Market to Witness Growth Acceleration During 2019-2025 - Topcon Precision Agriculture, SST Development Groupm, Deere & Company, Trimble Navigation Limited

03-08-2019 04:58 AM CET | IT, New Media & Software

Press release from: The Insight Partners

Smart Agriculture Market

Smart Agriculture Market

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.

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 efficient production of livestock. Hence, the demand for livestock management system is expected to increase during the forecast period.

Some of the key players of smart agriculture market include 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.

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The overall Smart agriculture market size has been derived using both primary and secondary source. The Smart agriculture market research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Smart agriculture market.

By the year 2050 the total global population is expected to increase by approximately 16.5%, and to meet their daily food demand, the agriculture sector globally is expected to increase its production by 70%. Presently, achieving the target of minimum food security for survival is the major challenge faced by the industry. Thus, the organization across the globe are promoting the adoption of smart agriculture solution, which would further reduce the time consuming process of crop yielding and also enhance the research practices in this field.

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.

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Smart agriculture market by application is segmented into precision farming, livestock monitoring, yield monitoring, soil health monitoring, irrigation systems, forestry, variable rate technology (VRT), asset management, smart greenhouse and others. Precision farming has received maximum traction over the years, however livestock monitoring is projected to grow at a significant rate during the forecast period, and precision farming would continue to dominate the market by capturing majority revenue share in the market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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