Press release
Smart Agriculture Market - Expected To Be Driven Over The Forecast Period Due To The Several Government Initiatives Being Undertaken
The global smart agriculture market has been witnessing expansion at a rapid pace in the past few years. Factors such as such as the persistently rising demand for improved production of agricultural products and the rising awareness regarding the benefits of connected devices in improving operability of a number of agriculture processes and operations are at the core of the market’s healthy growth in the past.
The report presents a thorough analysis of the market and its key segments on global and regional fronts. The report does so with the help of detailed qualitative and quantitative insights into market’s competitive dynamics, the global and regional regulatory framework confining several aspects of the market, and factors such as drivers, restraints, and trends influencing the growth prospects of the market. Verifiable projections regarding the state of the market over the period between 2016 and 2024 are also included in the report.
The projections featured in the report have been derived with the help of proven research methodologies and analysis tools. With the expansive and detailed data in the report, it makes for a reliable repository covering analysis and information concerning every facet of the market, including but not limited to: technology, application, product type, and regional market.
Global Smart Agriculture Market: Drivers and Restraints
The global smart agriculture market is expected to be driven over the forecast period due to the several government initiatives being undertaken across a number of developed and emerging economies with an aim of increasing the usage of connected devices in the agriculture sector. However, the dearth of awareness and unaffordability of smart agriculture solutions and practices, especially when it comes to small farmers in emerging economies such as China, India, and Brazil, could hinder the growth of the market to a certain extent in the next few years.
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The requirement of uninterrupted internet supply for operating connected technologies is also expected to create growth challenges for the market in developing and underdeveloped economies. Nevertheless, this could be an excellent opportunity for telecom companies to make their mark in these regions, allowing vast growth prospects in the promising smart agriculture market.
Global Smart Agriculture Market: Segmentation
The report segments the global smart agriculture market on the basis of criteria such as type, application, and geography.
On the basis of type, the market is segmented into hardware, services, and software solutions. Key hardware elements used in a typical smart agriculture project include smart detection systems, sensor monitoring systems, and global positioning system (GPS) devices. The services segment can be further segmented into implementation, integration, consulting, and maintenance. The software solutions segment can be segmented into remote monitoring solution, supply chain management solution, mobility solution, connectivity solution, quality assurance solution, and data analytics solution. From a geographic perspective, the report analyzes the smart agriculture market across regions such as Middle East and Africa, North America, Latin America, Europe, and Asia Pacific.
Geographically, North America is expected to emerge as the dominant regional market for smart agriculture, chiefly owing to the presence of a large number of technology companies innovating in the field of connected technologies and the reducing costs of connected equipment. In the future years, Asia Pacific is expected to offer significant growth opportunities for the smart agriculture market owing to the encouraging adoption of connected devices across several sectors in the region.
Global Smart Agriculture Market: Competitive Overview
Some of the key companies operating in the highly competitive global smart agriculture sector, transforming it with product innovations, are Trimble Navigation Limited, Cisco Systems Inc., SST Development Group, Inc., AgJunction Inc., AGCO Corporation, Salt Mobile SA, SemiosBio Technologies Inc., Vodafone Group, Raven Industries, Inc., and Deere & Company.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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