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| Smart Agriculture |
Along with the rising
trend of globalization, the people are getting more educated regarding healthy
diet and thus the food and beverages industry is experiencing a sturdy shift in
the food consumption pattern. More number of people today, have started including
non-vegetarian food produces, which is subsequently leading to rising demand
for smart agriculture market.
Some of the key players of smart agriculture
market include AGCO Corporation, Ag Junction Inc., AG Leader Technology, Deere
& Company, Raven Industries, Inc., Semiosbio Technologies Inc., SST
Development Group, Inc., Teejet Technologies, Topcon Precision Agriculture and
Trimble Navigation Limited, among others.
Global smart agriculture
market has been categorized by Product type majorly into three categories;
hardware, software and services. The hardware segment further comprises of
sensors based monitoring system, smart detection systems, GPS enabled ranging
system and drones. Whereas the services segment comprises of supply chain
management, climate information and other (System Integration, Maintenance and
Consulting Service). The software and services market is expected to witness
highest growth rates, whereas the hardware segment is expected to grow at a
moderate growth rate.
Key trend which will
predominantly effect the smart agriculture market in coming year is upcoming
technological advancement in this field. It is predicted that the upcoming
technological advancements in this industry would enable the farmers to
regulate the requirements of a crop at any explicit location and instant in a
way that will be increasingly accurate, and from a distance. The companies that
survive in the ecosystem would be on account of innovations and to support the
development and adoption of smart agriculture techniques. The future
technological advancement in the smart agriculture is expected to ease out the
lengthy procedures involved in crop production and also support in making the
supply chain of smart agriculture market more effective. The needs and wants of
customer increase each passing day and to meet such rapidly increasing demands,
it has become very important to adopt technologies that provide better result
in less time and cost.
The overall Smart
agriculture market size has been derived using both primary and secondary
source. The Smart agriculture market research process begins with an exhaustive
secondary research using internal and external sources to obtain qualitative
and quantitative information related to the market. Also, primary interview
were conducted with industry participants and commentators in order to validate
data and analysis. The participants who typically take part in such a process
include industry expert such as VPs, business development managers, market
intelligence managers and national sales managers, and external consultant such
as valuation experts, research analysts and key opinion leaders specializing in
the Smart agriculture market.
Source:
The Insight Partners
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