Smart Agriculture uses modern and innovative agricultural technologies to deliver better and more efficient crop management results, soil analysis, and the deployment of new crop cultivation and harvesting techniques. Using specific equipment such as the Internet of Thing models, sensors and actuators, geo-positioning systems, Big Data, Unmanned Aerial Vehicles (UAVs or drones), robotics and fertilizers, and irrigation management, and so on, farmers can improve their production and harvest while reducing the time, energy and work needed for these tasks. Thanks to the alert management system, the quality of the crops are also dramatically increased. Smart agriculture helps and assists in evaluating and taking decisions to boost crop growth and production.
Global Smart Agriculture Market is estimated to grow from USD 12.8 billion in 2019 to USD 30.5 billion in 2030 with a CAGR of 8.16%. Growth in the smart agriculture market is driven by factors such as increasing pressure on the food supply system due to the rapidly growing population, rising use of modern technologies in agricultural holdings, rising income levels and demand for protein-rich aqua-food, increasing focus of farmers on livestock monitoring and disease detection, and increasing emphasis on reducing management costs. Moreover, the growing adoption of advanced technologies such as Internet of Things and Artificial Intelligence in agriculture, livestock management, and aqua-farming to improve the yield is boosting the overall growth of the smart agriculture market.
Source: Fatpos Global https://www.fatposglobal.com/reports/smart-agriculture-market/57
In March 2019, Innovasea Systems acquired Nortek Akvakultur (Norway).
In April 2019, Trimble Inc. launched a new entry-level subscription to Trimble Ag Software called Farmer Core that allows farmers to connect all aspects of their farm operations.
In November 2019, Topcon Positioning released the Topcon Agriculture Platform, a cloud-based farm workflow optimization platform that combines farmers' access, cloud infrastructure, and data analytics.
Heliospectra collaborated with Nectar Farms in, October 2019 to provide MITRA LED lighting solutions for Australia's large-scale glasshouse installations.
Global Smart Agriculture Market: Segments
Precision Farming Market to grow at a CAGR of 13.6% during the forecast period
In 2019, precision farming reported the highest market share of over 49 percent based on the form of agriculture. It is also projected to rise in the forecast period with the highest CAGR of about 13 percent. The growth in precision agriculture is due to its advantages. In precision farming, with the help of sensing and monitoring devices, the amount of fertilizers and water used to produce the crop is controlled. The exact amount of nutrients, pesticides, and water used in this type of farming is used to obtain maximum crop yield.
Hardware offerings are anticipated to be the fastest-growing over 2020-2030
The hardware segment is projected to have the largest share of demand for smart agriculture in 2020. The growing adoption of new technologies and modern smart agricultural devices during the forecast period is expected to drive the growth of the smart agricultural market for hardware offerings. Increased adoption of automation and control systems, such as GPS / GNSS receivers, irrigation controls, and guidance and steering systems has created a new approach to farming practices that stimulates market growth.
Growing global demand for food, increasing the need for livestock health and performance monitoring, and increasing government support for the adoption of modern farming techniques are key factors driving the market growth. The growing population has increased food demand. According to the United Nations, the most recent census represents a human population of 7.3 billion and is projected to reach 9.7 billion by 2050. The demand for food is also expected to increase exponentially over the forecast period, in direct proportion to the growing population. Taking into account the increase in food demand, farmers need to increase crop production either by increasing the amount of agricultural land or by adopting advanced agricultural methods such as precision farming.
o Company overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
Topcon Positioning Systems
Deere & Company
The Climate Corporation
Global Smart Agriculture Market Report also contains an analysis on:
Smart Agriculture Market by segment:
o By Agriculture type
• Livestock Farming
• Precision Farming
• Precision Aquaculture
• Smart Greenhouse
• Precision Forestry
By application/ end-use industry
• Livestock Monitoring Application
• Yield Monitoring Application
• Precision Farming Application
• Precision Aquaculture Application
• Smart Greenhouse Application
• Precision Forestry Application
By Farm Size
• North America
• Latin America
• The Middle East and Africa
Global Smart Agriculture Market Size
Global Smart Agriculture Market Dynamics
Supply and Demand
Competition and Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
About Fatpos Global:-Fatpos Global is a leading management consulting, advisory and market research organization that serves its clients globally by its team of experts and industry veterans that have years of expertise for management consulting, advisory and market research analysis. The organization functions across business consulting, strategy consulting, and market research, operations consulting, financial advisory, human resources, risk & compliance, environmental consulting, software consulting and sales consulting amongst others, and aims to aid businesses with bold decisions that help them embrace change for their sustainable growth.
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