The report published on the global smart agriculture market revealed the growth to be at a notable pace. The valuation of the smart agriculture market was further stated to surpass its previous valuation.
Smart agriculture is a sustainable method of agriculture that uses various modern technologies like GPS, IoT, Big Data, and cloud-bases services. Technologies like agriculture robots, infrastructural health sensors, livestock biometrics, and machine-to-machine are being accepted increasingly by the agricultural sector in order to save the cost of labor and maximize sustainability, productivity, profitability, and quality. It involves data collection and analysis, automation of farming techniques, and high precision crop control. This technique uses connectivity modules, actuators, camera, sensors, and micro-controllers so as to enable farmers to control and regulate farming operations with the help of smart devices in a remote manner.
The market of smart agriculture is driven primarily by the surging demand for food crops across the globe due to the continuous increase in population. The increasing level of automation of farm operations and integration of key and advanced technologies is expected to increase the food production level and enhance the quality of crops. This subsequently aids in boosting the growth of the market. The increasing need to monitor livestock and curb down the usage of fertilizers and pesticides is also driving the market of smart agriculture. Increasing cost of labor and the lack of skilled labor on farms is also heightening the demand for smart agriculture.
Aside from the above-mentioned pointers, the growth of the global agricultural industry, limited availability of arable lands, shifting focus towards organic food, concerns related to scarcity of natural resources, and improving environmental concerns are some of the major factors that are expected to support the growth of the market. Plus, the integration of modern technologies and increasing subsidies from the government is pushing the adoption rate of smart agricultural methodology. However, on the contrary, the market growth can be restricted by the lack of awareness among farmers and high cost of investment initially.
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Market Segmentation
The global smart agriculture market has been segmented in terms of type and applications.
By type, the market segments into services, software, and hardware. The hardware segment narrows down into sensors, drones, GPS, LED grow lights, and others. The hardware segment is also expected to lead this market category with the highest share percentage over the forecast period. This is due to its prevalent usage in the smart agriculture industry. The usage of hardware devices and tools in the industry is primarily done to minimize input and expand the output productivity level of lands and crop yields.
By application, the market covers livestock monitoring, precision farming, smart greenhouse, and fish farming. The tools of smart agriculture are used primarily in precision farming method as it plays a key role in enhancing the efficiency level of the farm and helps growers maximize on their yields of crop.
Regional Analysis
The global smart agriculture market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. The market in Asia Pacific is expected to garner the highest share of the market in the coming years.
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Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
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