The scope of the global Smart Agriculture/Farming Market was appreciated at US$ 5.79 billion in 2016 and will touch the value of US$ 18.21 billion by the completion of the year 2025. Smart agriculture is maintainable agriculture. It utilizes expertise; for example, IoT, Cloud centered services, GPS and Big Data. Skills for example Machine-to-Machine, Agricultural Robots, Infrastructural Health Sensors and Biometrics of Livestock are progressively being acknowledged by the sector of agriculture to save the labor charges, and capitalize on profitability, production, sustainability and production.
Smart agriculture consists of gathering of information and study, control of harvest with greater accuracy, and mechanization of farming methods. Smart agriculture utilizes micro-controllers, camera, sensors, actuators, and modules of connectivity to support agriculturalists to govern and control agricultural processes, distantly, by means of smart devices. The growing populace and the increasing demand for foodstuff have stimulated the usage of contemporary and smart expertise for agriculture.
Companies:
The most important companies are presenting new-fangled advanced products in the market to satisfy the increasing demands from the customer. International companies are arriving in emerging states to increase their base of customer and build up existence in the market. Some of the important companies for smart agriculture/farming market are CropMetrics LLC (U.S.), Drone Deploy (U.S.), DeLaval International AB (Sweden), DICKEY-john Corporation (U.S.), and Farmers Edge, Inc. (Canada), among others. Additional notable companies are Argus Control Systems Ltd. (Canada), Agribotix LLC (U.S.), Autonomous Solutions, Inc. (U.S.), CNH Industrial (UK), CLAAS (Germany), and CropZilla Software, Inc. (U.S.).
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Drivers and Restraints:
The growing mechanization of agricultural processes and incorporation of innovative machineries to upsurge the manufacture of foodstuff and enhance the quality of harvest give impetus to the market. The increasing necessity to observe livestock and decreasing usage of fertilizers and pesticides drives the implementation of smart agriculture.
Growing costs of manual labor combined with scarcity of manual labor in farms has amplified the demand for smart agriculture. The inadequate availability of land for farming, development in the global business of agriculture, increasing worries regarding environment, ever-changing emphasis in the direction of organic foodstuff, and worries about shortage of natural resources are additional features backing the development of the market. Incorporation of skills and subsidizations from governments have fast-tracked the acceptance of smart agriculture. Increasing demand from developing nations and technical progressions are the reasons likely to deliver many openings for the development during the approaching years.
However, greater primary investment limits the development of the smart agriculture market. Similarly, the absence of agriculturalists having technical understanding is likely to constrain the development of the global market during the subsequent years. Furthermore, the matters related to the data accumulation, data administration, and the absence of standardization in the smart farming market are the most important tasks that are being confronted by the important companies and expected to restrain the development of the market during the nearby future. However, the arrival of big data in agriculture farm and the combination of smartphone with software and hardware uses are expected to propose prospective development openings for the companies during the forthcoming years.
Classification:
The global smart agriculture/farming industry can be classified by Application, Component, and Region. By Application it can be classified as Smart Greenhouse, Horticulture, Irrigation System, Yield Monitoring, Livestock Monitoring, Fish Farming, Soil Monitoring, Precision Farming and others. By Component it can be classified as Services, Hardware and Software.
Regional Lookout:
By Region the global smart agriculture industry can be classified as North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America headed the global market for smart agriculture and is expected to uphold the foremost place during the approaching a small number of years. The growing funds by the governments for research actions so as to decrease the human participation and improve the harvest income are expected to motivate the smart farming industry for North America during the close years. Europe is likely to grip the subsequent place. The credit goes to the great involvement by the U.K. In addition, Asia Pacific is expected to witness a healthy development and produce possible development openings for the companies, during the nearby future, due to the growing involvement from China and India.
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