An increasing smart agriculture worldwide due to growing agricultural industry and high demand for food crops drives the world’s smart agriculture market. The increasing population and automation of farms further supports market growth. The global smart farming market is driven by the growing need to improve crop quality, maximize crop production and increase productivity. The growing need for livestock control and minimization of the use of pesticides and fertilizers is improving smart farming.
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Some Major Key Players included Are:-
Major players in the global smart agriculture market include AG Leader Technology, AGCO Corporation, Trimble, Inc., Precision Planting, Inc., AgJunction, Inc., Agribotix LLC, Deere & Company, The Climate Corporation, Autonomous Solutions, Inc., Drone Deploy, CLAAS KGaA mbH, and CNH Industrial among others.
Certain drivers of smart farming market growth include growth in global agriculture, reduced work flexibility and increased labor costs. Other factors support the growth of the smart market in agriculture include limited availability of arable soils, growing environmental concerns, the focus on organic food, and the concerns about scarcity of natural resources. However, the smart market in agriculture is constrained by high initial investment. In addition, growing demand and technological developments from emerging economies are expected to offer multiple growth opportunities on the smart agriculture market in the next few years.
Intelligent farming is sustainable agriculture using technology like Big Data, Cloud-based Services, GPS, and IoT. The agriculture sector is increasingly embraced for the sake of savings in labor costs and optimum efficiency, production, sustainability and profitability through innovations such as livestock biometrics, agricultural robotics, infrastructural safety and machine-to-machine sensors. Intelligent agriculture includes data collection and analysis, high-precision plant control and farming automation.
The highest revenue on the market was generated in 2017 in North America. The growing population and demand for high quality crops are encouraging the creation of the intelligent market in agriculture. Increased labor costs and higher agricultural automation continue to support market growth. The adoption of smart agriculture for increased productivity in farms will be encouraged by growing investments and funding from government in the farm sector. Growing technological adoption such as Big Data, Cloud-based services, GPS and IoT complement the growth of the smart agriculture market over the forecast period.
Hardware, software and services are the various components used in smart agriculture. In 2017, the hardware segment was the biggest share of the global market for intelligent agriculture. Mainly used in farming to improve crop yield and productivity are hardware components like automation and control, sensing devices, LED growth lights and HVAC systems.
Intelligent agriculture is driven mainly by the increasing demand for food crops around the world due to the substantial increase in population. The rising automation of farm activities and incorporation of state-of – the-art technology to improve food production and performance of crops fuel market growth. In the process of adopting intelligent agriculture the growing requirement to monitor livestock and minimize the use of pesticides and fertilizers. The demand of the intelligent agriculture has been increased by rising labor costs combined with lack of labor on farms.
Other factors supporting the growth of the market are limited availability of arable land, growth in world agriculture, increased environmental concerns, focus on organic food, and concerns regarding the scarcity of natural resources. Adopting smart agriculture has been accelerated by the integration of government technologies and subsidies. But the growth of smart agriculture market is constrained by high initial investment. Emerging economy demand and technological progress are expected to create several opportunities for growth in the next few years.
Table of Contents -Major Key Points
1. Overview and Scope
2. Executive Summary
3. Smart Agriculture Market Insights
4. Smart Agriculture Market Size and Forecast by Component, 2018-2026
5. Smart Agriculture Market Size and Forecast by Application, 2018-2026
6. Smart Agriculture Market Size and Forecast by Region, 2018-2026
7. Company Profiles
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