“Final Report will add the analysis of the impact of COVID-19 on industry.”
A comprehensive market research report has recently analyzed the worldwide “Smart Agriculture Market” industry, employing segmentation based on Geographical Regions, Country, Company, Types, and Applications. Within the Beauty and Personal Care Packaging sector, numerous prominent Key Players[John Deere, LumiGrow, Trimble, Heliospectra, Topcon Positioning Systems, InnovaSea Systems, DeLaval, Afimilk, AKVA, Antelliq, AgEagle Aerial Systems Inc., Raven Industries, Inc., GEA Group, The Climate Corporation, Autonomous Solutions, Inc., SST Development Group, Inc., Argus Control Systems Ltd, Gamaya, Grownetics, Inc., Granular, Inc., DroneDeploy, Farmers Edge Inc., BouMatic Robotic B.V], have emerged as leaders by implementing diverse strategies aimed at extending their market presence and strengthening their industry position. This report furnishes valuable insights to stakeholders and participants operating in the global market, equipping them with a competitive edge and offering a robust resource to fulfill their business needs effectively.
The report helps each participant to understand the current and future opportunities of the market. It has studied the key growth strategies, such as innovative developments and trends, product portfolio intensification, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current trends and key financials. The readers will also have access to information related to global revenue, price, and profits by manufacturers for the period 2023-2031. This all-inclusive report will undoubtedly help clients stay updated and make informed decisions in their businesses.
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Report Ocean, revealed that the global smart agriculture market was worth USD 11.5 billion in the year 2021. The market is projected to grow at a CAGR of more than 11%, earning revenues of around USD 24.3 billion by the end of 2022
Rising Demand For Weather Monitoring Systems Is Driving The Growth Of The Smart Agriculture Market
The demand for weather monitoring systems is very prominent in the agriculture sector and is also increasing at a high rate owing to the changing climatic conditions and their adverse effects on the crops. The weather monitoring system is highly capable of detecting any sudden changes in the weather and can make real-time alerts. This can help the farmers prevent and reduce weather-related losses. It is also extremely helpful in determining the ideal environmental conditions to grow specific crops.
Increasing Investment Towards Human Resources Is Propelling The Overall Market Growth
Smart agriculture technologies may generate data or create insights but it will go in vain without skilled people who are not well-equipped with the knowledge. This also acts as a major restraint for market growth. Therefore, many public and private bodies are focusing and investing in the training of human resources for smart agriculture management. For instance, Tanzania has trained over 12,000 young university graduates on smart agriculture to develop professional skills.
Smart Agriculture Market – By Farm Size
Based on farm size, the smart agriculture market is segmented into small farms, medium farms, and large farms. Medium-sized farms account for the largest market share because of high ownership in this type of land size. A high number of peasants working on medium-sized farms, especially in developing countries such as India, also plays a crucial factor in propelling its market growth. Furthermore, the implementation of smart agriculture tools and technologies is much more convenient in this land size along with a high return on investment compared to other farm sizes, which also favor its market growth.
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Smart Agriculture Market – Regional Insights
Geographically, the smart agriculture market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominates the smart agriculture market. However, the Asia-Pacific region is anticipated to witness the highest CAGR during the forecast period. The rising government support and increasing population density of the developing countries in this region are emerging as the major driving factors for the smart agriculture market. Furthermore, the production of smart agriculture components and hardware in countries such as China, Japan, India, etc., is also increasing its penetration, driving the overall market growth.
Impact of COVID-19 on Smart Agriculture Market
The smart agriculture market was negatively impacted by the unprecedented COVID-19 pandemic outbreak. Agricultural activities in different parts of the world were halted due to lockdown and social distancing norms. Furthermore, the disruptions in the supply chain and manufacturing activities also hindered the production and distribution of hardware components involved in smart agriculture. However, the market is projected to recover in the post-lockdown period owing to the expanding scope of cloud computing and data analytics and the availability of hardware components.
Market Segment:
By Offering(Hardware, Software, Services)
By Agriculture Type(Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse, Others)
By Farm Size(Small Farms, Medium Farms, Large Farms)
By Region(North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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