NEW YORK, Oct. 27, 2021 /PRNewswire/ -- With the presence of a large pool of participants, the global smart agriculture market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Ag Leader Technology, Inc, AGCO Corporation, Ag Junction LLC, Raven Industries Inc., Precision Planting LLC., and SemiosBio Technologies Incorporation are some of the key vendors of smart agriculture across the world. These players across are smart agriculture market focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the smart agriculture market study.
Citing an instance, on August 15, 2018, Cambridge University held a smart agriculture summit. Reportedly, the world's leading scientists gathered at AgriFood Robotics Workshop and Hackathon in Cambridge University's engineering department. Experts are of the view that such initiatives will not only promote the Industry-Academia collaborations, but also provide impetus to growth of smart agriculture market over the years to come.
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This Press Release is based on a report by Zion Market Research, titled "Smart Agriculture Market by Agriculture Type (Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, and Others (Orchid, Forestry, and Horticulture); By Software (Web Based and Cloud Based); By Service (System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, and Professional Services); and By Solution (Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, and Others); For Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Labor Management, Financial Management, Feeding Management, Milk Harvesting, Breeding Management, Fish Tracking and Fleet Navigation, Water Quality Management, HVAC Management, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2025."
As estimated in this report, the global smart agriculture market stood at US$ 5,098 million in the year 2016. Witnessing a tremendous rise during the period from 2017 to 2025, the revenue in this market is expected to reach US$ 15,344 million by the end of the forecast period. The main types available in this smart agriculture market are precision farming, livestock monitoring, fish farming, smart greenhouse, orchid, forestry, and horticulture. Among the three, the demand for precision farming is relatively higher and the trend is anticipated to remain so over the next few years, notes the smart agriculture market research report.
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Mounting Need to Acquire More Crop Produce to Enhance Market Trends
"Escalating requirement for monitoring crop yield, milk harvesting, water management, farm labor management, crop scouting, animal tracking & navigation, and breeding management will further spur smart agriculture market in the coming years," says the author of this smart agriculture market study. Apart from this, smart agriculture market is projected to garner a humungous growth over the next few years with the mounting use of advanced cloud-based software in smart farming techniques offering remote access & monitoring of day-to-day agricultural activities.
Huge Food Demand to Support APAC's Regional Dominance
Regionally, Asia Pacific has been leading the worldwide smart agriculture market and is anticipated to continue on the dominant position in the years to come, states the smart agriculture market study. Escalating demand for food and other dairy items is the main factor behind the dominance of the Asia Pacific smart agriculture market. The dominance can also be attributed to rapidly swelling population in countries such as India and China along with growing food requirement in these regions. In addition to this, the rural economies of the countries in the APAC region are agriculture-based and this will further drive the demand for advanced techniques in farming to get more crop harvest, thereby supporting the smart agriculture market trends.
The global smart agriculture market is segmented as follows:
By Agriculture Type
- Precision Farming
- Automation and Control Systems
- Displays
- Guidance and Steering
- GPS/GNSS Systems
- Drones/UAVs
- Handheld Mobile Devices/Handheld Computers
- Flow and Application Control Devices
- Others
Sensing and Monitoring Devices
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Others
Livestock Monitoring
RFID Tags and Readers
- Sensors
- Transmitters & Mounting Equipments
- GPS
- Others
Fish Farming
- GPS/GNSS
- Sensors
- Others
Smart Greenhouse
- HVAC Systems
- LED Lights
- Sensors
- Others
Others (Orchid, Forestry, and Horticulture)
By Software Type
- Web Based
- Cloud-based
- Software As A Service (SaaS)
- Platform As A Service (PaaS)
By Service-Type
- System Integration and Consulting
- Support and Maintenance
- Connectivity Services
- Managed Services
- Farm Operation Services
- Data Services
- Analytics
- Professional Services
- Supply Chain Management Services
- Climate Information Services
- Others
By Solution Type
- Network Management
- Agriculture Asset Management
- Supervisory Control and Data Acquisition
- Logistics and Supply Chain Management
- Smart Water Management
- Others
By Application
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking and Forecasting
- Irrigation Management
- Farm Labor Management
- Financial Management
- Feeding Management
- Milk Harvesting
- Breeding Management
- Fish Tracking and Fleet Navigation
- Water Quality Management
- HVAC Management
- Others
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By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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