Global Smart Agriculture Market to register USD 15,344 Million growth by 2025 – ZMR Blog
Trending News & Updates

Global Smart Agriculture Market to register USD 15,344 Million growth by 2025

The new report by Zion Market Research on the “Smart Agriculture Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025″ has a vast information about the market and its potential. The global smart agriculture market was valued at around USD 5,098 million in the year 2016 and is expected to reach approximately USD 15,344 million by the end of 2025, growing at a CAGR of more than 13.09% between 2017 and 2025.

The traditional method of farming involves a lot of mishaps which hampers the yield causing loss of the grower. In order to reduce the loss and increase the profitability of the farmer, smart agriculture techniques play a vital role. It helps in monitoring the yield, water management, field mapping, milk harvesting, crop scouting, farm labor management, breeding management, and animal tracking and navigation, among others. In addition, advanced cloud-based software used in smart agriculture techniques provide remote access to the day-to-day agricultural activities from a distant location. Owing to these benefits of smart agriculture techniques the market is likely to boost over the forecast period.

According to our research analyst, the precision farming segment will retain its dominance in the smart agriculture market. This segment is estimated to grow at a high CAGR over the forecast period. Precision farming makes use of advanced technologies such as high precision positioning systems (GPS), automated steering systems, sensors and remote sensing, integrated electronic communications, and variable rate technology (VRT). Hence, precision farming is being implemented on a large scale for applications such as irrigation management, yield monitoring, crop scouting, water management, and others thus increasing its popularity.

By agriculture type, precision farming is expected to grow at a higher CAGR of around 13% over the forecast period. In 2016, precision farming contributed the highest market share of over 49%. The demand for precision farming has increased owing to the benefits that are gained from this type of farming. Precision farming considerably reduces the amount of fertilizers and water used in yielding the crop. In precision farming, with the help of sensing and monitoring devices, only the required amount of water and essential nutrients for growing the crops is utilized. This reduces the extra amount of resources used which, in turn, minimizes the overall cost.

By software type, web-based software is projected to grow at a CAGR of around 12% over the forecast period. The web-based software contributed the highest market share of around 58% in 2016. The cloud-based software is gaining traction owing to its increasing application. Due to which the cloud-based software anticipates growing at the highest CAGR of around 14% over the forecast period. Software updates are completely automated in cloud-based software whereas manual installation is needed in web-based software. Cloud-based software also cuts the high cost incurred in hardware installation, which is usually required in web-based software. Cloud-based software provides remote access and monitoring of the farming activities through an internet connection. Owing to these benefits cloud-based software is more popular than web-based software.

By service type, system integration and consulting segment are estimated to grow at a CAGR of around 13.10% over the forecast period. In 2016, system integration and consulting segment contributed the highest market share of around 31.50%. However, managed services are projected to grow at a higher CAGR of around 14% over the forecast period. The system integration and consulting segment contribute the majority of the market share owing to the increase in the application and adoption of advanced devices in the agriculture. Increasing use of the climate information services contributes to the growth of system integration and consulting segment.

By solution, network management segment is growing at a higher CAGR of around 13.71% CAGR over the forecast period. This segment contributed a market share of 28.41% in 2016.

By application, yield monitoring segment contributed the maximum market share of the global smart agriculture market in 2016. It is anticipated to grow at a CAGR of around 13.41% over the forecast period. Yield monitoring is one of the earliest practiced applications of smart agriculture. It was started in the early 1990s by the farmers in order to generate fertilizer and pH correction recommendations and is still being continued thus increasing its popularity.

Request Free Sample Research Report @ https://www.zionmarketresearch.com/sample/smart-agriculture-market

Asia Pacific is expected to grow at the highest CAGR of 13.77% over the forecast period. Agriculture and associated business in the Asia Pacific region are likely to spur owing to rising demand for food and other dairy products. Moreover growing population in countries such as India, China, and other Asian countries has resulted in increased food demand. North America held the highest market share of 35.0% in 2016. Europe is expected to grow at a CAGR of 13.42% over the forecast.

The major market players in the global smart agriculture market are Ag Leader Technology, Inc., AGCO Corporation., Ag Junction LLC., Raven Industries Inc., Precision Planting LLC., SemiosBio Technologies Inc., SST Development Group, Inc., The Climate Corporation, TOPCON., Trimble Inc., Agribotix LLC., Auroras s.r.l., Deere & Company, DeLaval, GEA Group, and Grownetics, Inc., among others.

Leave A Reply

Your email address will not be published.