Press release
Smart Agriculture Market is Expected to Witness Speedy Growth of USD 21.12 billion, at a CAGR of 10% by 2029 - Ag Junction LLC., AGCO Corporation, and GEA Group
Smart Agriculture
Smart agriculture is a concept that focuses on providing the infrastructure for the agricultural industry to use advanced technology. Additionally, wireless sensors, low-power wide-area networks, WiFi, Zigbee, and other connected technologies are a few of the tools that farmers can use to efficiently carry out tasks related to agriculture like harvesting, buying, planting, and inventory control.
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Rising Adoption of IoT Application in Agriculture: Key Driver of Smart Agriculture Market
» Rise in penetration of the Internet of Things (IoT) technology in the farming industry helps farmers to monitor product development by providing real-time assistance using IoT applications
» Use of IoT applications in traditional agriculture methods helps to reduce time and cost involved in various farming resources such as water, energy, and land, and focus on delivering quality food to customers
» Implementation of IoT-based devices in the agricultural sector also eliminates the use of pesticides and fertilizers using precision farming techniques, which further improves the health of crops or soil to deliver organic food to various end users
» High adoption of the IoT technology in the agricultural sector helps to improve the responsive ability of farmers to any significant change in weather, humidity, and air efficiency, and also drives automation in traditional farming processes using various data analytics, visualization, and management systems & solutions
Market Dynamics
Global Smart Farming Market Drivers
Increasing Reliance on Modern Technology to Drive Market
Precision farming, also known as "smart agriculture," has the potential to generate high returns for the agricultural industry. By collecting geospatial data of the soil, livestock, and plants, as well as other inter-and intra-field information, this type of farming can help farmers combat the adverse effects of nature on crops. Precision farming provides information about required quantities of irrigation water, liquid fertilizers, nutrients, herbicides, and pesticides and also helps reduce resource waste. The incorporation of cutting-edge technologies boosts productivity and lowers the cost of farming.
Increased Access to Organic Foods Due to the Internet of Things (IoT) to Aid Growth
The rapidly expanding adoption of Internet of Things (IoT) technology in agriculture enables farmers to monitor the growth of their products better. Integrating the Internet of Things applications into conventional agricultural practices reduces the time and resources such as land, water, and energy, allowing farmers to focus on producing high-quality food for consumers. Various end users can now receive organic food due to the elimination of pesticides and fertilizers in precision farming techniques.
Global Smart Farming Market Restraint
High Cost of Equipment to Hinder Market Growth
One of the most significant factors that hinder market expansion is the high cost of precision farming equipment. Precision agriculture employs cutting-edge technologies and costly equipment, including intelligent sensors, drones, VRT, GPS, GNSS, guidance tools, and receivers. These technologies and tools are highly effective but also quite expensive. Installation and operation of precision agricultural equipment also require qualified personnel. Farmers in developing countries with limited resources for agricultural practices, such as India, China, and Brazil, frequently choose traditional farming over new technology farming because the latter requires a more significant financial and time investment.
Prominent Key players of the Smart Agriculture Market survey report:
Historical data available in the report elaborates on the development of the Smart Agriculture on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Trimble Inc., Deere & Company, Topcon Positioning Systems, DeLaval Inc., AgEagle Aerial Systems Inc., Afimilk Ltd, Raven Industries, Inc., Ag Junction LLC., AGCO Corporation, and GEA Group.
Recent Developments
February 2022- Ag Leader Added Nozzle-By-Nozzle Control-RightSpo- to Its Full-Farm Lineup. Ag Leader grew its full-farm solution lineup with the newest addition to its DirectCommand application product line, trusted by farmers for nearly two decades.
February 2022- Patriot took the next step forward in spray technology and connectivity in Australia. The Case, IH Patriot sprayer, has been a fixture of many farming operations for over two decades. Australian customers are about to be introduced to the latest Case IH application technology, the new Patriot 50 series.
January 2022- New Hexagon technology ensured precision in planting with excavators Launch of HxGN AgrOn Planting Assistant is focused on the forest market. Still, it can also be adapted to enhance operations on other crop types such as palm oil, citrus, and coffee.
Smart Agriculture Market Segmentation:
Smart Agriculture Market by Type, 2023-2029, (USD Billion)
» Precision Farming
» Livestock
» Aquaculture
» Greenhouse
Smart Agriculture Market by Component, 2023-2029, (USD Billion)
» Solution
» Hardware
» Hvac System
» Led Grow Lights
» Valves & Pumps
» Sensors & Control Systems
» Software
» Network Management
» Smart Water Management
» Irrigation Management
» Service
» Consulting
» System Integration And Deployment
» Support And Maintenance
» Connectivity Technology
» Cellular Iot
» Lora
» Nb-Iot
Global Navigation Satellite System (GNSS)
» Wi-Fi
» Sigfox
» Wireline
» Wireless Personal Area Network (WPAN)
The regional outlook by revenue covers the countries namely:
✦ North America (United States, Canada and Mexico)
✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
✦ South America (Brazil, Argentina, Colombia, and Rest of South America)
✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
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Key Features of the Smart Agriculture Market Report: -
⇨ Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.
⇨ Examine the market opportunities for stakeholders by identifying higher growth sections.
⇨ To study and analyse the global Smart Agriculture industry status and forecast including key regions.
⇨ An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
⇨ It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.
⇨ It helps you make strategic business decisions and investment plans.
Competitive Landscape
Competition has been growing for the Smart Agriculture industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.
Highlight the Following Key Factors:
► Business Description: a particular description of agency operations and enterprise departments.
► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.
► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.
► Company History: The development of predominant occasions associated to the company.
► Main merchandise and services: A listing of the company's fundamental products, services, and brands.
► Main Competitors: A listing of the company's fundamental competitors.
► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.
► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
Table of Contents
Global Smart Agriculture Market Research Report 2023-2029
1 Smart Agriculture Market Overview
1.1 Product Overview and Scope of Smart Agriculture
1.2 Smart Agriculture Segment by Type (Product Category)
1.3 Global Smart Agriculture market Segment by Application
1.4 Global Smart Agriculture Market by Region (2023-2029)
1.4.1 Global Smart Agriculture Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)
1.4.2 North America Status and Prospect (2023-2029
1.4.3 Europe Status and Prospect (2023-2029)
1.4.4 China Status and Prospect (2023-2029)
1.4.5 Japan Status and Prospect (2023-2029)
1.4.6 Southeast Asia Status and Prospect (2023-2029)
1.4.7 India Status and Prospect (2023-2029)
1.5 Global Market Size (Value) of Smart Agriculture (2023-2029)
1.5.1 Global Smart Agriculture Revenue Status and Outlook (2023-2029)
1.5.2 Global Smart Agriculture Capacity, Production Status and Outlook (2023-2029)
…
Why Choose Smart Agriculture Market Report?
✔ Unbiased conclusions and market insights
✔ 24×7 customer service available to address client queries
✔ Highly efficient and experienced team of analysts striving to create top-quality reports
✔ Our reports have facilitated the growth of over 500 companies
✔ The systematic and methodical market research process
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Thank you for your interest in the Smart Agriculture Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.
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