New York, NY, March 22, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Agriculture Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025”.
According to the report, the global smart agriculture market was valued at around USD 5,098 million in the year 2016 and is expected to reach approximately USD 15,344 million by the end of 2025, growing at a CAGR of more than 13.09% between 2017 and 2025.
Browse through 129 Tables & 52 Figures spread over 110 Pages and in-depth TOC on "Global Smart Agriculture Market: Industry Type, Size, Share, Trends and Forecast by 2025”.
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Market Report Highlights:
- Growing adoption of smart agriculture techniques in the countries such as India, China, Japan, Australia, and Brazil is increasing the demand for products such as GPS/GNSS Systems, Drones/UAVs, Yield Monitors, Soil Sensors, and Water Sensors.
- Precision farming registered the highest market share of over 49% in 2016. This growth is mainly attributed to the high adoption of the precision techniques such as high precision positioning systems (GPS), automated steering systems, sensors and remote sensing, integrated electronic communications, and variable rate technology (VRT).
- By software type, web-based software contributed the highest market share of around 58% in 2016. It is projected to grow at a CAGR of around 12% over the forecast period. Moreover, owing to the growing benefits of cloud-based software over web-based software, cloud-based software is estimated to grow at the highest CAGR over the forecast period.
- By service type, system integration and consulting contributed the highest market share in 2016 of around 31.50%. It is estimated to grow at a CAGR of around 13% over the forecast period.
- By application, yield monitoring segment accounted contributing the maximum market share of the global smart agriculture market in 2016. It is expected to grow at a CAGR of around 13.41% over the forecast period.
- North America held the highest market share of 35% in 2016 and anticipates growing with a steady CAGR of around 12.77% over the forecast period. Owing to advanced agricultural techniques and methods of farming being practiced in the U.S., North America is dominating the global smart agriculture market.
- Asia Pacific is expected to grow at the highest CAGR due to growing adoption of advanced farming techniques by the developing countries such as China, India, and other Asian countries.
- Europe is the second largest market for smart agriculture and is expected to grow at a steady CAGR of 13.42% over the forecast period. Whereas developing regions such as Latin America and the Middle East and Africa is expected to contribute the least market share.
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According to our analysis, there will be an increasing adoption of smart agriculture techniques over the forecast period. Smart agriculture makes use of advanced techniques and technologies but is still cost-effective in nature. With the help of the smart agriculture techniques, maximum productivity is gained. Farmers are greatly benefitted by the smart agricultural techniques as it helps them in making wise decisions such as getting proper data about the soil efficiency, helping in water management, and others. Thus the market will flourish in the coming years.
The traditional method of farming involves a lot of mishaps which hampers the yield causing loss of the grower. In order to reduce the loss and increase the profitability of the farmer, smart agriculture techniques play a vital role. It helps in monitoring the yield, water management, field mapping, milk harvesting, crop scouting, farm labor management, breeding management and animal tracking and navigation, among others. In addition, advanced cloud-based software used in smart agriculture techniques provides remote access to the day-to-day agricultural activities from a distant location. Owing to these benefits of smart agriculture techniques the market is likely to boost over the forecast period.
Browse the full “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” report at https://www.zionmarketresearch.com/report/smart-agriculture-market
By agriculture type, precision farming is expected to grow at a higher CAGR of around 13% over the forecast period. In 2016, precision farming contributed the highest market share of over 49%. The demand for precision farming has increased owing to the benefits that are gained from this type of farming. Precision farming considerably reduces the amount of fertilizers and water used in yielding the crop. In precision farming, with the help of sensing and monitoring devices, only the required amount of water and essential nutrients for growing the crops is utilized. This reduces the extra amount of resources used which, in turn, minimizes the overall cost.
By software type, web-based software is projected to grow at a CAGR of around 12% over the forecast period. The web-based software contributed the highest market share of around 58% in 2016. The cloud-based software is gaining traction owing to its increasing application. Due to which the cloud-based software anticipates growing at the highest CAGR of around 14% over the forecast period. Software updates are completely automated in cloud-based software whereas manual installation is needed in web-based software. Cloud-based software also cuts the high cost incurred in hardware installation, which is usually required in web-based software. Cloud-based software provides remote access and monitoring of the farming activities through an internet connection. Owing to these benefits cloud-based software is more popular than web-based software.
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By service type, system integration and consulting segment are estimated to grow at a CAGR of around 13.10% over the forecast period. In 2016, system integration and consulting segment contributed the highest market share of around 31.50%. However, managed services are projected to grow at a higher CAGR of around 14% over the forecast period. The system integration and consulting segment contribute the majority of the market share owing to the increase in the application and adoption of advanced devices in the agriculture. Increasing use of the climate information services contributes to the growth of system integration and consulting segment.
Asia Pacific is expected to grow at the highest CAGR of 13.77% over the forecast period. Agriculture and associated business in the Asia Pacific region are likely to spur owing to rising demand for food and other dairy products. Moreover growing population in countries such as India, China, and other Asian countries has resulted in increased food demand. North America held the highest market share of 35.0% in 2016. Europe is expected to grow at a CAGR of 13.42% over the forecast.
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The major market players in the global smart agriculture market are Ag Leader Technology, Inc., AGCO Corporation., Ag Junction LLC., Raven Industries Inc., Precision Planting LLC., SemiosBio Technologies Inc., SST Development Group, Inc., The Climate Corporation, TOPCON., Trimble Inc., Agribotix LLC., Auroras s.r.l., Deere & Company, DeLaval, GEA Group, and Grownetics, Inc., among others.
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Global Smart Agriculture Market: Agriculture Type Segment Analysis
- 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
- Automation and Control Systems
- Livestock Monitoring
- RFID Tags and Readers
- Sensors
- Transmitters & Mounting Equipments
- GPS
- Others
- RFID Tags and Readers
- Fish Farming
- GPS/GNSS
- Sensors
- Others
- Smart Greenhouse
- HVAC Systems
- LED Lights
- Sensors
- Others
- Others (Orchid, Forestry, and Horticulture)
Global Smart Agriculture Market: Software Type Segment Analysis
- Web Based
- Cloud-based
- Software As A Service (SaaS)
- Platform As A Service (PaaS)
Global Smart Agriculture Market: Service-Type Segment Analysis
- 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
Global Smart Agriculture Market: Solution Type Segment Analysis
- Network Management
- Agriculture Asset Management
- Supervisory Control and Data Acquisition
- Logistics and Supply Chain Management
- Smart Water Management
- Others
Global Smart Agriculture Market: Application Type Segment Analysis
- 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
Global Smart Agriculture Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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