Smart agriculture is a management concept that focuses on providing the framework for the agricultural business to employ sophisticated technology such as big data, the cloud, and the internet of things (IoT) to automate, track, monitor, and analyze activities. Precision agriculture is becoming more important as the world’s population grows, as does the desire for higher agricultural yields, the need to conserve natural resources, the increased usage & effectiveness of information & communication technology, and the growing need for climate-smart agriculture.
The global smart agriculture market is expected to witness significant growth over the estimated period. This is attributed to use of modern technologies such as precision farming. If used to its full capacity, precision farming can assist farmers to combat the negative impacts of nature on crops by gathering geographic data on crops, soil, and livestock as well as other inter- & intra-field information.
It also provides data on required water quantity, nutrients, liquid fertilizers, pesticides, and herbicides that help to reduce wastage of resources. Further, the use of advanced technologies like variable rate technology mapping software, data management software, GPS, and yield mapping software in agricultural products help improve land fertility and profitability. All these factors are collectively offering healthy growth opportunities to the market. On the other side, the fragmented nature of the market can affect the market growth over the forecast period.
The global smart agriculture market is categorized into type, application, and region. Based on type, the global market for smart agriculture is bifurcated as remote sensing systems/ sensors, management information system, spatial decision support systems, geographic information systems, and yield mapping. The application segment of the global market comprised of livestock monitoring, precision farming, agricultural drone, yield & soil monitoring, smart greenhouse & irrigation, variable rate technology, farm management, and others.
North America is expected to lead the global smart agriculture market during the forecast period. Some of the primary drivers driving the growth of the smart agriculture market in this region include the increased usage of variable rate technology and smart irrigation controllers, as well as AI-based farm analytics services. During the estimated period, the smart agriculture market in Asia Pacific is expected to expand at a rapid pace. This is mainly due to changing agriculture scenario in emerging countries such as India and China.
Key players functioning in the global smart agriculture market include AG Leader Technology, Agjunction, Climate, Agco, Precision Planting, Boumatic, The Climate Corporation, Trimble, Deere, DeLaval, Topcon Positioning Systems, Raven Industries, Semiosbio Technologies, SST Development Group, and Gamaya among others.
In March 2021, DeLaval introduced the RC700 and RC550, solid-floor robot collectors that increase cow welfare and hoof condition. They can manage any manure without requiring additional water thanks to their unique rotational manure intake technology.
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