Growing demand for livestock management system will escalate the Smart Agriculture Market at a CAGR of 11.5%
Published Date : 01/08/2017
Report : Smart Agriculture Market to 2025 – Global Analysis and Forecast by Product Type (Hardware (Sensor Based Monitoring System, Smart Detection System, GPS Enabled Ranging System and Drones), software and services (Climate Information system, Supply Chain Management, others)), and Application (Precision farming, Livestock monitoring, yield monitoring, Soil health monitoring, Irrigation System, Forestry, VRT, Asset Management and Green House) – Global Analysis and Forecast
Latest market study on "Smart Agriculture Market to 2025 - Global Analysis and Forecast by Product Type (Hardware (Sensor Based Monitoring System, Smart Detection System, GPS Active Ranging System and Drones), software and services (Climate Information system, Supply Chain Management, others)), and Application (Precision farming, Livestock monitoring, yield monitoring, Soil health monitoring, Irrigation System, Forestry, VRT, Asset Management and Green House) - Global Analysis and Forecast?, the smart agriculture market is estimated to reach US$ 30.01 billion by 2025 from US$ 11.30 billion in 2016. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Browse market data tables and in-depth TOC of the Global Smart Agriculture Market (2016-2025)
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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.
Along with the rising trend of globalization, the people are getting more educated regarding healthy diet and thus the food and beverages industry is experiencing a sturdy shift in the food consumption pattern. More number of people today, have started including non - vegetarian food produces, which is subsequently leading to rising demand for efficient production of livestock. Hence, the demand for livestock management system is expected to increase during the forecast period.
There has been constant development in smart agriculture industry. Recently, the company John Deere introduced new crop of Worksite Pro attachments for agricultural industry. Worksite Pro is company's range of agricultural attachments. These attachments include two silage defacers (AD7 and AD11), five bale spears (AB21, AB31, AB32, AB42 and AB43), and a bale hugger (AH80). Such innovative initiatives in this field are anticipated to further encourage the growth of smart agriculture market in the coming years.
Some of the leading smart agriculture market players are AGCO Corporation, Ag Junction Inc., AG Leader Technology, Deere & Company, Raven Industries, Inc., Semiosbio Technologies Inc., SST Development Group, Inc., Teejet Technologies, Topcon Precision Agriculture and Trimble Navigation Limited among others.
Smart Agriculture Market, Global Breakdown by Regions, 2016 - 2025 (%)
Source: The Insight Partners Analysis, December 2016
The report segments the global smart agriculture market as follows:
Global Smart Agriculture Market - By Product type
Sensor Based Monitoring System
Smart Detection System
GPS Active Ranging System
Supply Chain Management
Others (System Integration, Maintenance and Consulting Service)
Global Smart Agriculture Market - By Application
Soil Heath Monitoring
VRT (Variable Rate Technology)
Global Smart Agriculture Market - By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SA)
Rest of SA?