The demand for Smart Agriculture technologies such as Big Data, cloud-based services, GPS, and the IoT is gaining pace in the agriculture industry. Driven by the rising need for high precision crop analysis, automated farming techniques, and collection of data from the field, the world is likely to witness the agriculture industry get smarter with the implementation of technologies in the coming years. Data thus derived from implementing smart technologies can help farmers yield high-quality and larger quantities of crops. Besides rising population, which triggers demand for food, the global smart agriculture market is expected to gain from favorable government initiatives. However, the journey is likely to be more difficult in underdeveloped economies where the agriculture sector is reeling under a lack of knowledge among farmers. The high cost of smart devices is making the matter worse. Nevertheless, in the coming years, the market is likely to gain from the rising penetration of high-speed internet even in remote areas.
Global Smart Agriculture Market valued at approximately USD 7 billion in 2017 is anticipated to grow with a healthy growth rate of more than 12.50% over the forecast period 2018-2025 and is estimated to reach USD 18 billion by 2025.
The regional analysis of the Global Smart Agriculture Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. the dominance was with the smart agriculture market in North America, which held over 44.14% of the overall market in 2016. Extensive researches funded by governments across the region to minimize human involvement and boost crop yield has fueled the demand for smart agriculture technologies in North America. Europe emerged as the second-leading and is expected to continue exhibiting lucrative market opportunities. In the U.K. especially the market is forecast to witness an accelerated pace of gains as the government makes huge investments in the research and development of robust technologies. Besides this, the rate of growth in Italy is predicted to remain high through the forecast period. During the same time, the Asia Pacific smart agriculture market is forecast to rise at an influential rate. Countries such as Japan, China, and Australia will have strong agriculture sectors that are expected to emerge at the fore of the regional market. China held the leading share in the Asia Pacific smart agriculture market. However, in the forthcoming years, Japan is expected to showcase more attractive opportunities for the market.
Major market players included in this report are Deere & Company, Trimble, Agco, Agjunction, Raven Industries, Delavai, AG Leader Technology, Teejet Technology, Topcon Positioning System, Geosys, and Dairy Master
The detailed segments and sub-segment of the market are explained below:
By Offering: Hardware, Software, Services
By Agriculture Type: Precision Monitoring, Livestock Monitoring, Smart Greenhouse, Fish Farm Monitoring
By Application: Precision Farming Application, Livestock Monitoring Application, Fish Farming Application, Smart Green House Application
Review our report at https://www.bizwitresearch.com/reports/global-smart-agriculture-market-to-reach-usd-18-billion-by-2025/
To review more reports on Upcoming topics, visit us at www.bizwitresearch.com
Data drives better decisions
Bizwit Research & Consulting LLP