Smart Agriculture Market- Industry Analysis, Trends, Segmentation and Development Forecast 2025
Smart agriculture market is expected to grow US$ 30.01 billion by 2025 from US$ 11.30 billion in 2016.
(EMAILWIRE.COM, April 25, 2018 ) 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.
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.
Key trend which will predominantly effect the 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. The future technological advancement in the smart agriculture is expected to ease out the lengthy procedures involved in crop production and also support in making the supply chain of this market more effective. The needs and wants of customer increase each passing day and to meet such rapidly increasing demands, it has become very important to adopt technologies that provide better result in less time and cost.
For more information about this report visit: http://www.theinsightpartners.com/reports/smart-agriculture-market
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.
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
Get Sample Report of Smart Agriculture Market: http://www.theinsightpartners.com/sample/TIPTE100000318
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.
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.
Key trend which will predominantly effect the 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. The future technological advancement in the smart agriculture is expected to ease out the lengthy procedures involved in crop production and also support in making the supply chain of this market more effective. The needs and wants of customer increase each passing day and to meet such rapidly increasing demands, it has become very important to adopt technologies that provide better result in less time and cost.
For more information about this report visit: http://www.theinsightpartners.com/reports/smart-agriculture-market
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.
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
Contact Information:
The Insight Partners
Sameer Joshi
Tel: +91 9666111581
Email us
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The Insight Partners
Sameer Joshi
Tel: +91 9666111581
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results