Why do we need Smart Agriculture Market? Major Companies are Dirt Road Data, Site-Specific Technology Development, CropMetrics, Trimble Navigation, Agribotix

Smart agriculture solution helps various entities including farmers and distributors in the value chain, in order to transform and reorient agricultural systems to optimize food productivity. This, in turn, ensures higher productivity with the effective use of resources and prevention of food loss to a certain extent. Both hardware and software components are part of smart agriculture solutions. Hardware components include sensor monitoring, smart detection, GPS enabled ranging systems, and drones.

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Major companies operating in the global smart agriculture solution market are Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.

Smart Agriculture Solution Market - Impact of Coronavirus (Covid-19) Pandemic

Many governments around the globe such as India, Spain, and Italy have imposed nationwide lockdown to prevent the spread of COVID-19 disease. For instance, India has imposed a lockdown from 25 March to 1 May until further notice. Lockdown resulted in the shortage of workers at the farms. Due to the manpower shortage, the farms are struggling to carry out the plantation activities. Moreover, there is also a shortage of transportation facilities such as Trucks and Trains. Owing to the above-mentioned factors, the COVID-19 pandemic is expected to restrain the market growth during the year 2020.

Statistics:
North America held a dominant position in the global Smart Agriculture Solution market in 2019, accounting for 51.9% share in terms of value, followed by Europe and the Asia Pacific respectively.

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Market Trends:
1. Increasing partnerships with various entities
Major companies in the market are focused on partnership and collaboration activities, in order to gain a competitive edge in the market. For instance, in January 2016, Agribotix LLC partnered with Hawkins Manufacturing, Inc. in order to enhance its presence across North America. Moreover, in November 2016, Trimble Navigation Ltd. partnered with Precision AG, Agrinetix, Géo-Pro, and Avidor High Tech France and KOREC in order to enhance its presence in the markets in North America and Europe.

2. Major investment by market players is another trend
Key players in the market are investing significantly in other ventures, in order to expand the market presence. In April 2016, SemiosBio Technologies Inc. received investment from Agtech community with the aid of Haywood Securities. This investment is expected to aid the company in broadening its presence and solution portfolio.

Cost and size of various sensors such as temperature, load, and vibration have decreased significantly in the recent past. This is typically due to technological advancements in the semiconductor industry along with intense competition among various manufacturers. Such sensors are an important component in the market and serve to collect and formulate information required for testing and monitoring health and status of crops, soil, weather, etc. Thus, these factors are expected to drive growth of the global smart agriculture solution market during the forecast period.

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