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Worldwide Smart Agriculture Industry to 2027 - Key Drivers and Challenges
Dublin, May 03, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Agriculture Market Outlook, 2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the market size of the Global Smart Agriculture Market is expected to grow with a CAGR of more than 12.10% in the forecasted year of 2027. The global smart agriculture market includes precision agriculture market, precision livestock monitoring market, precision aquaculture market, smart greenhouse market & precision forestry market.
Precision farming is widely known as precision agriculture. Precision agriculture is a method of increasing average yields by using exact amounts of inputs in comparison to traditional gardening approaches. The smart greenhouse remote monitoring system primarily measures indoor CO2, humidity, temperature, light, soil moisture, soil pH, and air pressure. These elements have a direct impact on greenhouse plant growth. The sensor is an important part of the greenhouse's remote monitoring system. Each sensor continuously analyses a different environmental component at a different place and communicates the data to the monitoring system.
Precision livestock monitoring provides animals' location, temperature, blood pressure, and heart rate are monitored using a wearable collar or tag (RFID) with sensors, which wirelessly communicate the data to farmers' devices in near-real-time. Livestock monitoring improves livestock health and vitality with real-time monitoring in order to cure animals.
According to a European Commission research, such networks would help farmers enhance animal output by more than 22%. Livestock monitoring and disease detection are two key elements driving this market's growth. Precision fish farming or Aquaculture is related to growing aquatic animals for the sake of beneficial products of aquaculture. The market includes surface cameras, sonar, stereo video and acoustic telemetry. The physical components include evaluating water quality indicators including temperature, dissolved oxygen, pH, and hardness of water, which are the most significant factors for fish breeding. It also incorporates automatic feeding of the fish at set intervals to reduce food waste and water contamination.
The biggest factors for the precision forestry market are the growing modernization of forestry operations, increasing preference for forestry products, falling costs of advanced monitoring and surveillance technologies, and increased government support for the adoption of modern forestry techniques to combat illegal logging. It also improves wood product quality, reduces waste, increases profit, and maintains environmental quality. Though precision forestry is growing with the lowest CAGR among all of them it has a very huge potential market of around $4.4 billion in 2021. This market gives overall cost-saving and reduction in deforestation.
North America is the leader in the global smart agriculture market. The reason behind it is the USA and Canada is the major countries contributing pre-adoption of these technologies. On the other hand, Asia-Pacific is expected to grow with the highest CAGR in the forecast period. China and Japan's government's support towards automation and dairy farms is the major market driver. According to FAO, countries like China, Indonesia, Peru, India, Russia and USA accounted for almost 50% of total global aqua-capture production. On the other side, Russia, Brazil, Canada, USA & China have the highest forest area. By offering type; the hardware segment has a huge market share compared to software and services. In future, the software and services market share will be increased due to subscription services and modern software techniques.
COVID-19 Impact:
Adoption of IoT and AI by dairy farmers and livestock monitoring management; and substantial cost-saving associated with other agriculture-related industries. The growing population of cattle with increasing dairy farms, increasing adoption of livestock monitoring technology and increasing demand for food in developing countries create a strong demand for smart agriculture in the midst of COVID-19. Of course, due to lack of transportation, manpower, and other lockdown restrictions, the market growth was disturbed a bit.
Major Companies present in the market:
Raven Industries, Inc, Merck & Co., Inc, Deere & Company, AgJunction Inc., Trimble Inc., Topcon Positioning Systems, Inc., AGCO Corporation, AG Leader Technology, Afimilk Limited, InnovaSea Systems, Inc., Abaco Systems, Inc., GEA Group Aktiengesellschaft (GeaCowScout), Grownetics, Inc., Heliospectra AB, Nedap N.V. Inc, Gamaya SA, Ceres Imaging, Inc, AKVA group, CropX Technologies
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Smart Agriculture Market Outlook
5.1. Market Size by Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By Company
5.2.4. By Type
5.2.5. By Offering
6. North America Smart Agriculture Market Outlook
7. Europe Smart Agriculture Market Outlook
8. Asia-Pacific Smart Agriculture Market Outlook
9. Latin America Smart Agriculture Market Outlook
10. Middle East & Africa Smart Agriculture Market Outlook
11. Market Dynamics
11.1. Key Drivers
11.2. Key Challenges
12. Market Trends and Developments
13. Company Profiles
13.1. Raven Industries, Inc
13.2. Merck & Co., Inc
13.3. Deere & Company
13.4. Ag Junction Inc.
13.5. Trimble Inc.
13.6. Topcon Positioning Systems,Inc.
13.7. AGCO Corporation
13.8. AG Leader Technology
13.9. Afimilk Limited
13.10. InnovaSea Systems, Inc.
13.11. Abaco Systems, Inc.
13.12. GEA Group Aktiengesellschaft (Gea CowScout)
13.13. Grownetics, Inc.
13.14. Heliospectra AB
13.15. Nedap N.V. Inc
13.16. Gamaya SA
13.17. Ceres Imaging, Inc
13.18. AKVA group
13.19. CropX Technologies
14. Strategic Recommendations
15. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/3uqbyj
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