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(Wireless-NewsWire.Com, September 25, 2018 ) The global smart agriculture market generated $6,325.5 million in 2017 and is anticipated to grow at a CAGR of 14.1% during the forecast period according to a new research published by Polaris Market Research.
Smart agriculture uses technologies such as big data, GPS, and IoT among others for enhancing farming procedures to improve profits and reduce overhead cost. The use of smart agriculture enables farmers to deliver enhanced outputs and improved efficiency. Diverse technologies such as automation systems, drones, remote sensing, milking robots, VRT, and HVAC systems among others are used for automating farm activities and increasing crop yield. Automated tractors and sprayers are used for various other agricultural purposes such as watering, seed plantation, and pesticides spraying.
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The demand for smart agriculture has increased over the years owing to growing need for high quality crops, improved yields, and enhanced efficiency to primarily drive the smart agriculture market. The increasing global population and rising demand for food crops have resulted in increased adoption of smart agriculture. Farmers are integrating smart technologies in their farms owing to growth in the global agricultural industry, reducing availability of labors, and increasing acceptance of advanced technologies in agriculture sector. Government initiatives and subsidies further support the growth of the smart agriculture market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Smart Agriculture Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 owing to increasing population, and growing demand for high quality crops. The key factor driving the North American market for smart agriculture is the growing need for automation and rapidly increasing industrialization. The high technology penetration coupled with telecom and cloud infrastructure provides growth opportunities in the region.
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Competitive Landscape and Key Vendors
The global smart agriculture market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
Smart Agricultural Market major key player 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.
Key Segments
Component
• Hardware
• Software
• Services
Application
• Precision Farming
• Yield Monitoring
• Soil Monitoring
• Irrigation System
• Fish Farming
• Horticulture
• Livestock Monitoring
• Smart Greenhouse
• Others
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
Middle East and Africa.
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About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.
Contact us-
Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
Polaris Market Research
Neel
+1-646-568-9980
neel@polarismarketresearch.com
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