Smart Agriculture Industry 2019 —
The global smart agriculture market is anticipated to reach $20,635 million by 2026. In 2017, the hardware segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue in 2017.
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The global smart agriculture market is majorly driven by an increasing adoption of smart agriculture across the world owing to growing agricultural industry, and high-demand for food crops. The growing population, and increasing automation of farm operations further supports market growth. The global smart agriculture market is driven by the increasing need to improve the quality of crops produced, maximize crop production, and enhance productivity. The growing requirement to monitor livestock, and minimizing the use of pesticides and fertilizers boosts the adoption of smart agriculture. Other factors driving the growth of smart agriculture market include growth in the global agricultural industry, reducing availability of labors, and increasing labor costs. Limited availability of arable land, growing environmental concerns, shifting focus towards organic food, and concerns regarding scarcity of natural resources are other factors supporting the growth of smart agriculture market. However, high initial investment restricts the growth of the smart agriculture market. While, growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the for the smart agriculture market in the coming years.
North America generated the highest revenue in the market in 2017. The increasing population, and growing demand for high quality crops drives the growth of smart agriculture market. Growing cost of labor, and increasing automation in agricultural practices further support market growth. Increasing investments and subsidies in the agriculture sector by governments are expected to boost the adoption of smart agriculture for increased productivity in farms. Increasing adoption of technologies such as Big Data, cloud-based services, GPS, and IoT among others further supplements smart agriculture market growth during the forecast period.
The different components used in smart agriculture include hardware, software, and services. In 2017, the hardware segment accounted for the largest share in the global smart agriculture market. Hardware components such as Automation & control systems, sensing devices, LED grow lights, and HVAC systems among others are widely used in farm to increase crop yield and improve productivity.
Major players in the global smart agriculture market include AG Leader Technology, AGCO Corporation, Trimble, Inc., Precision Planting, Inc., AgJunction, Inc., Agribotix LLC, Deere & Company, The Climate Corporation, Autonomous Solutions, Inc., Drone Deploy, CLAAS KGaA mbH, and CNH Industrial among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Table Of Contents – Major Key Points
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Smart Agriculture Market Insights
3.1. Smart Agriculture – Industry snapshot
3.2. Smart Agriculture - Ecosystem analysis
3.3. Smart Agriculture Market Dynamics
3.3.1. Smart Agriculture – Market Forces
18.104.22.168. Smart Agriculture Market Driver Analysis
22.214.171.124. Smart Agriculture Market Restraint/Challenges analysis
126.96.36.199. Smart Agriculture Market Opportunity Analysis
3.4. Industry analysis - Porter's five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Smart Agriculture Market PEST Analysis, 2016
3.6. Smart Agriculture Market Value Chain Analysis
3.7. Smart Agriculture Industry Trends
3.8. Competitive Ranking Analysis
4. Smart Agriculture Market Size and Forecast by Component, 2018-2026
4.1. Key Findings
5. Smart Agriculture Market Size and Forecast by Application, 2018-2026
5.1. Key Findings
5.2. Precision Farming
5.3. Yield Monitoring
5.4. Soil Monitoring
5.5. Irrigation System
5.6. Fish Farming
5.8. Livestock Monitoring
5.9. Smart Greenhouse
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