The recent research report published by Report Ocean provides an overview of the global smart agriculture market. According to this published competitive intelligence analysis, the Global Smart Agriculture Market is expected to witness a promising increase in Annual Revenue (USD in Mn) in 2021. A comprehensive overview and in-depth information on possible future scenarios for the market worldwide are provided in this study.
The report provides an in-depth study of this market, considering current events, trend projections, planned company openings, and data-driven forecast (2022-2030). This research offers a more comprehensive perspective of market dynamics by focusing on product and geographic interpretations. In addition to examining the importance of this area, the study supports market expectations.
Important data on the current and forecasted revenue of the major international industry players, as well as the goods they provide as part of the smart farming landscape, will also be included in our in-depth analysis. The report provides an easy-to-understand breakdown of competitive frameworks such as Porter’s Five Forces Analysis, SWOT Analysis, and PESTLE Analysis to provide a deeper understanding of the many aspects that support the research findings.
The in-depth analysis of this detailed report will provide supply, demand and production data for all facets of the industry. This Global Smart Agriculture report includes regions such as Asia-Pacific, Europe, Middle East, Africa, North America, and South America.
The global smart agriculture market is expected to reach USD 20,635 million by 2026, growing at a CAGR of over 14% from 2019 to 2026, according to a new research report published by Report Ocean. The report “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 and Forecast, 2019 – 2026′ offers a broad analysis of different applications of smart agriculture along with insights into current and future market trends.
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Over the past decade, the agriculture industry has undergone huge transformations due to the ever-increasing demand for sustainable farming practices. Several companies are involved in the development of sustainable solutions and systems for agriculture. Furthermore, it is observed that due to the benefits of smart farming solutions, farmers gain the ability to improve yield through the optimization of inputs and well-organized management of their farms. These factors have collectively driven the rapid deployment of smart farming solutions in various applications. Hence, significant growth is expected in this market owing to the attractiveness of well-tailored and smart farming solutions over the risks associated with traditional farming methods.
Growing population and increasing preference for automation of agricultural operations are expected to further support the growth of the market. The need for automation of agricultural operations is driven by the ability to improve the quality of crops produced, maximize agricultural production and improve productivity. The increased need to monitor livestock, along with the need to minimize the use of pesticides and fertilizers, is further driving the adoption of smart farming. Other factors driving the growth of the smart agriculture market include growing global agriculture industry, reduction in labor availability and labor costs students. However, the high initial investment costs associated with the adoption of smart farming systems could restrain the growth of this market. Demand from emerging economies coupled with advancements in technology are factors that are expected to present ample opportunities for the growth of the smart agriculture market over the forecast period.
North America accounted for the highest revenue share among all regions in the smart agriculture market in 2018. This is mainly due to the high market penetration in the United States and is further supported by vast R&D activities by companies and the presence of an appropriate regulatory environment in this region. The various components used in precision agriculture include hardware, software, and services. In 2018, hardware component segment accounted for the largest share of this market owing to the popularity and demand for hardware components such as automation and control systems, sensing devices, LED grow lights and HVAC systems which are widely used in farms to increase crop yield. and improve productivity.
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Some of the key players profiled in the Smart Agriculture Market report include AG Leader Technology, AGCO Corporation, Trimble Inc., Precision Planting, Inc., AgJunction, Inc., Agribotix LLC, Deere & Company, The Climate Corporation, Autonomous Solutions, Inc., Drone Deploy, Raven Industries, CLAAS KGaA mbH and CNH Industrial. Due to the presence of more small and medium enterprises as well as large enterprises operating in this space, the market is observed to be highly fragmented.
Report Ocean has segmented the global smart agriculture market on the basis of component, application, and region:
Smart Agriculture Outlook by Component (Revenue, USD Million, 2016 – 2026)
Smart Agriculture by Outlook App (Revenue, USD Million, 2016 – 2026)
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Smart Agriculture Outlook by Region (Revenue, USD Million, 2016 – 2026)
Middle East and Africa
Our market research provides vital information on market size, business trends, industry structure, market share, and market forecasts that are essential for developing business plans and strategies.
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A combination of factors, including the COVID-19 containment situation, end-use market recovery, and 2020/2021 recovery timeline
As part of the impact analysis of the COVID-19 epidemic:
We analyzed industry trends in the context of COVID-19. We have analyzed the impact of COVID-19 on the commodity industry chain based on upstream and downstream markets. We analyze the impact of COVID-19 on different regions and major countries.
The impact of COVID-19 on the future development of the industry is highlighted.
The study explores the impact analysis of the COVID 19 outbreak
- What should be the entry strategies, countermeasures to economic impact and marketing channels?
- What are market dynamics?
- What are the challenges and opportunities?
- What is the economic impact on the market?
- What is the current market situation? What is the market competition in this industry, both at company and country level? What is a market analysis considering applications and types?
Key questions answered: Study Explore the impact analysis of the COVID 19 outbreak
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The research objectives of this report are:
- To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, historical data and forecast to 2025.
- To understand the structure of the market by identifying its various subsegments.
- Share detailed information on key factors influencing market growth (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years. .
- To analyze growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- Analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- Establish a strategic profile of key players and analyze in depth their growth strategies.
Geographical distribution : The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, major developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates , United Kingdom, United States, Venezuela, Vietnam
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The in-depth qualitative analysis of the impact of the COVID 19 outbreak includes the identification and investigation of the following aspects: Market structure, growth drivers, restraints and challenges, emerging product trends and market opportunities, Porter’s Fiver forces. The report also examines the financial status of major companies, which includes gross profit, revenue generation, sales volume, turnover, manufacturing cost, individual growth rate and other financial ratios. The report basically gives information about market trends, growth factors, limitations, opportunities, challenges, future forecasts and details about all major market players.
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