SMART AGRICULTURE SOLUTION MARKET ANALYSIS

Author : Yuvraj Kumawat | Published On : 22 Apr 2021

SMART AGRICULTURE SOLUTION MARKET ANALYSIS

Smart agriculture or smart farming is a farming management concept that uses modern technology to increase the quality and quantity of agricultural products. Smart agriculture solution helps various entities including farmers and distributors in the value chain, in order to transform and reorient agricultural systems to optimize food productivity. This, in turn, ensures higher productivity with the effective use of resources and prevention of food loss to a certain extent. Both hardware and software components are part of smart agriculture solutions. Hardware components include sensor monitoring, smart detection, GPS enabled ranging systems, and drones.

Market Dynamics

Cost and size of various sensors such as temperature, load, and vibration have decreased significantly in the recent past. This is typically due to technological advancements in the semiconductor industry along with intense competition among various manufacturers. Such sensors are an important component in the market and serve to collect and formulate information required for testing and monitoring health and status of crops, soil, weather, etc. Thus, these factors are expected to drive growth of the global smart agriculture solution market during the forecast period. Condition and status of soil and its properties are crucial for making decisions concerning sustainable soil management, which in turn, contributes to appropriate land use. It is vital to carry out soil assessments and undertake analysis and mapping of data and information through soil surveys. Therefore, these factors are expected to propel the global smart agriculture solution market growth over the forecast period.

Market Taxonomy

This report segments the Global Smart Agriculture Market on the basis of Component, Solution, and Region. On the basis of Component, Global Smart Agriculture Market is segmented into Hardware (Sensor Monitoring System, Smart Detection System, GPS Enabled Ranging System And Drones), Software, Service (Climate Information Service, Supply Chain Management Service And Others(System Integration, Maintenance and Consulting Service). On the basis of Solution, the Global Smart Agriculture Market is segmented into Automated Machinery Guidance ControlTractor Collision and Obstacle DetectionMachinery Safety and Parameter MonitoringVariable Rate Technology and Building and Premise Surveillance. On the basis of region, Global Smart Agriculture Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Smart Agriculture Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Smart Agriculture Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Smart Agriculture Market includes Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Smart Agriculture market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Smart Agriculture Market.
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Detailed Componentation:

  • Global Smart Agriculture Market, By Component:
    • Hardware
      • Sensor Monitoring System
      • Smart Detection System
      • GPS Enabled Ranging System
      • Drones
    • Software
    • Service
      • Climate Information Service
      • Supply Chain Management Service
      • Others(System Integration, Maintenance and Consulting Service)
  • Global Smart Agriculture Market, By Solution:
    • Automated Machinery Guidance Control
    • Tractor Collision and Obstacle Detection
    • Machinery Safety and Parameter Monitoring
    • Variable Rate Technology
    • Building and Premise Surveillance
  • Global Smart Agriculture Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • AgEagle Aerial Systems Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • AgJunction LLC
    • Agribotix LLC
    • AgriSight, Inc.
    • CropMetrics LLC
    • Dirt Road Data, Inc.
    • Granular, Inc.
    • Iteris, Inc.
    • SemiosBio Technologies Inc.
    • Site-Specific Technology Development Group, Inc.
    • Trimble Navigation Ltd.

 

 

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