Smart Agriculture Market Analysis and Demand with Future Forecast to 2026

According to the new market research "Smart Agriculture Market, [By Component (Hardware, Software, Services); By Application (Precision Farming, Yield Monitoring, Soil Monitoring, Irrigation System, Fish Farming, Horticulture, Livestock Monitoring, Smart Greenhouse, Others); By Region]: Market Size & Forecast, 2018 – 2026", The Smart Agriculture market is expected to reach USD 20,635 million by 2026 from USD 6,325.5 million in 2017, at a CAGR of 14.1%.

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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Major Key Player In Smart Agriculture Global Market: -

Deere & Company (US)

Trimble (US), AGCO (US)

AgJunction (US)

Raven Industries (US)

AG Leader (US)

Precision Planting (US)

The Climate Corporation (US)

Descartes Labs (US)

ec2ce (Spain)

Gamaya (Switzerland)

Decisive Farming (Canada).

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.

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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.

Competitive Landscape

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.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.