Posted on July, 20, 2021 at 11:44 pm
In a recent published report, Kenneth Research has updated the market report for Smart Agriculture Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Agriculture Market products.
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According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.
Factors such as the increasing crop production worldwide and the concern for the decreasing arable land for the cultivation of crops, which is raising the need amongst farmers to develop modern agricultural methods that provide increased yield with low input resources, are anticipated to drive the growth of the market. According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.
Global Smart Agriculture Market to reach USD 17.9 billion by 2025. Global Smart Agriculture Market valued approximately USD 7.1 billion in 2017 is anticipated to grow with a healthy growth rate of more than 12.5% over the forecast period 2017-2025. The demand for smart technologies such as Big Data, cloud-based services, GPS, and the IoT is gaining pace in the agriculture Market. Driven by the rising need for high precision crop analysis, automated farming techniques, and collection of data from the field, the world is likely to witness the agriculture Market get smarter with the implementation of technologies in the coming years. Data thus derived from implementing smart technologies can help farmers yield high quality and larger quantity of crops. Besides rising population, which triggers demand for food, the global smart agriculture Market is expected to gain from favorable government initiatives. However, the journey is likely to be more difficult in underdeveloped economy where the agriculture sector is reeling under lack of knowledge among farmers. The high cost of smart devices is making the matter worse. Nevertheless, in the coming years the Market is likely to gain from the rising penetration of high-speed internet even in remote areas.
" The Final Report will cover the impact analysis of COVID-19 on this industry "
The regional analysis of Global Smart Agriculture Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. the dominance was with the smart agriculture Market in North America, which held over 44.14% of the overall Market in 2016. Extensive researches funded by governments across the region to minimize human involvement and boost crop yield has fueled the demand for smart agriculture technologies in North America. Europe emerged as the second-leading and is expected to continue exhibiting lucrative Market opportunities. In the U.K. especially the Market is forecast to witness accelerated pace of gains as the government make huge investments in the research and development of robust technologies. Besides this, rate of growth in Italy is predicted to remain high through the forecast period. During the same time, the Asia Pacific smart agriculture Market is forecast to rise at an influential rate. Countries such as Japan, China, and Australia will strong agriculture sector are expected to emerge at the fore of the regional Market. China held the leading share in the Asia Pacific smart agriculture Market. However, in the forthcoming years Japan is expected to showcase more attractive opportunities for the Market.
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The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the Market within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Major market players in Smart Agriculture Market are Deere & Company, Trimble, Agco, Agjunction, Raven Industries, Delavai, AG Leader Technology., Teejet Technology, Topcon Positioning System, Geosys, Dairy Master and so on.
Smart Agriculture Market Segmentation:
By Offering:
*Hardware
*Software
*Services
By Agriculture Type:
*Precision Monitoring
*Livestock Monitoring
*Smart Greenhouse
*Fish Farm Monitoring
By Application:
*Precision Farming Application
*Livestock Monitoring Application
*Fish Farming Application
*Smart Green House Application
By Region:
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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Reasons to Purchase this Report
*Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
*Provision of market value (USD Billion) data for each segment and sub-segment
*Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
*Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
*Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
*Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
*The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
*Includes an in-depth analysis of the market of various perspectives through Porter's five forces analysis
*Provides insight into the market through Value Chain
*Market dynamics scenario, along with growth opportunities of the market in the years to come
*6-month post sales analyst support
Source: EINNEWS