Smart agriculture solutions help farmers optimize crop production and monitor soil and weather conditions using advanced sensors, automation, and data analytics. Smart agriculture includes the use of IoT sensors and devices, drones, robots, GPS technology, cloud and mobile applications to collect real-time data on soil, weather and livestock conditions. This data helps farmers make informed decisions regarding irrigation, pesticide use, and maximizing crop yields.
The global smart agriculture solution market is estimated to be valued at US$ 29014.62 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased deployment of IoT sensors and devices is one of the key trends driving growth of the smart agriculture solution market. IoT technology enables real-time monitoring of soil conditions, climate, crop health and livestock activity using sensors. These sensors are integrated with farm management software and systems to generate precise insights and recommendations for farmers. For instance, soil moisture sensors help farmers optimally schedule irrigation based on soil water content, avoiding both over-watering and under-watering of crops. Growing adoption of IoT-enabled smart agriculture solutions is expected to boost market expansion over the forecast period.
Segment Analysis
The global smart agriculture solution market is segmented by component, type of agriculture and region. The solution segment is expected to dominate the market over the forecast period owing to the increasing focus of farmers towards automation and digitization of agriculture. Solutions help farmers to efficiently manage fields and farm operations by providing real-time data and predictive analysis.
Key Takeaways
The Global Smart Agriculture Solution Market Demand is expected to witness high growth. The global smart agriculture solution market is estimated to be valued at US$ 29014.62 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
Regional analysis suggests that North America region currently dominates the market due to presence of major players and growing adoption of advanced technologies by prominent agriculture companies in the US and Canada. The Asia Pacific region is expected to witness highest growth over the forecast period owing to government initiatives to promote smart agriculture practices and increasing spending on agricultural technology by major emerging economies like India and China.
Key players operating in the smart agriculture solution market are Halliburton, Ashland Global Specialty Chemicals Inc., Ecolab Inc., Baker Hughes Inc., Innospec Inc. Halliburton is one of the leading players offering soil monitoring solutions and services. The company recently launched 'Halliburton Landmark' digital well construction solution to help customers optimize drilling operations. Baker Hughes offers 'Sensor Reservoir' - an IoT solution for real-time reservoir and production monitoring.
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March 26, 2019: This report focuses on the global Smart Agriculture Solution status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Smart Agriculture Solution development in United States, Europe and China.In 2017, the global Smart Agriculture Solution market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.The key players covered in this studyDirt Road Data, Inc.Iteris, Inc.CropMetrics LLCAgribotix LLCAgriSight, Inc.SemiosBio Technologies Inc.Download sample Copy of This Report at: https://www.radiantinsights.com/research/global-smart-agriculture-solution-market-size-status-and-forecast-2018-2025/request-sample Granular, Inc.Trimble Navigation Ltd.Site-Specific Technology Development Group, Inc.AgJunction LLCMarket segment by Type, the product can be split intoHardwareSoftwareServicesAccess Full Report With TOC @ https://www.radiantinsights.com/research/global-smart-agriculture-solution-market-size-status-and-forecast-2018-2025 Market segment by Application, split intoPrecision FarmingLivestock MonitoringFish FarmingSmart GreenhousesOthersMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Smart Agriculture Solution status, future forecast, growth opportunity, key market and key players.To present the Smart Agriculture Solution development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Smart Agriculture Solution are as follows:History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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