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Smart Agriculture Solution Market Analysis | Coherent Market Insights

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Title: Smart Agriculture Solution Market Analysis | Coherent Market Insights


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
SMART AGRICULTURE SOLUTION MARKET ANALYSIS
  • Smart Agriculture Market, By Component (Hardware
    (Sensor Monitoring System, Smart Detection
    System, GPS Enabled Ranging System And Drones),
    Software, Service (Climate Information Service,
    Supply Chain Management Service And Others(System
    Integration, Maintenance and Consulting
    Service)), By Solution (Automated Machinery
    Guidance Control, Tractor Collision and Obstacle
    Detection, Machinery Safety and Parameter
    Monitoring, Variable Rate Technology and Building
    and Premise Surveillance) and by Region (North
    America, Latin America, Europe, Asia Pacific,
    Middle East and Africa) - Size, Share, Outlook,
    and Opportunity Analysis, 2020 - 2027

3
  • The global Smart Agriculture Solution market was
    valued at US 18975.7 Mn in 2019 and is forecast
    to reach a value of US 44,358.5 Mn by 2027 at
    a CAGR of 11.2 between 2020 and 2027

4
Market Drivers
  • Wide availability of low-cost sensors is expected
    to drive growth of the global smart agriculture
    solution market during the forecast period
    Cost and size of various sensors such as
    temperature, load, and vibration have decreased
    significantly in the recent past. This is
    typically due to technological advancements in
    the semiconductor industry along with intense
    competition among various manufacturers. Such
    sensors are an important component in the market
    and serve to collect and formulate information
    required for testing and monitoring health and
    status of crops, soil, weather, etc. Thus, these
    factors are expected to drive growth of the
    global smart agriculture solution market during
    the forecast period.
  • Rising need to address soil erosion from
    intensive farming is expected to propel the
    global smart agriculture solution market growth
    over the forecast period Condition and status
    of soil and its properties are crucial for making
    decisions concerning sustainable soil management,
    which in turn, contributes to appropriate land
    use. It is vital to carry out soil assessments
    and undertake analysis and mapping of data and
    information through soil surveys. Therefore,
    these factors are expected to propel the global
    smart agriculture solution market growth over the
    forecast period.

5
Smart Agriculture Solution Market - Impact of
Coronavirus (Covid-19) Pandemic
  • Many governments around the globe such as India,
    Spain and Italy have imposed nationwide lockdown
    to prevent the spread of COVID-19 disease. For
    instance, India have imposed lockdown from 25
    March to 1 May until the further notice. Lockdown
    resulted in the shortage of the workers at the
    farms. Due to the manpower shortage the farms are
    struggling to carry out the plantation
    activities. Moreover, there is also shortage of
    transportation facilities such as Trucks and
    Trains. Owing to above mentioned factors, the
    COVID-19 pandemic is expected to restrain the
    market growth during the year 2020

6
  • North America held dominant position in the
    global Smart Agriculture Solution market in 2019,
    accounting for 51.9 share in terms of value,
    followed by Europe and Asia Pacific respectively
  • Figure 1 Global Smart Agriculture Solution
    Market Share () in terms of Value, By Region,
    2019

7
Market Restraints
  • Lack of established wireless and broadband
    coverage in rural areas is expected to restrain
    growth of the global smart agriculture solution
    market during the forecast period
  • Lack of adequate infrastructure for wireless and
    broadband coverage, especially in emerging
    economies such as Africa and India is a major
    challenging factor. There is a lack of proper
    infrastructure for wireless coverage, which in
    turn, hinders the adoption of smart agriculture
    solutions. Thus, these factors are expected to
    restrain growth of the global smart agriculture
    solution market during the forecast period.
  • Uncertainty of weather and political factors is
    expected to hinder the global smart agriculture
    solution market growth over the forecast period
  • Factors such as weather and local political and
    economic changes cannot be accounted for and
    cannot be calibrated. Thus, these factors are
    expected to hinder the global smart agriculture
    solution market growth over the forecast period.

8
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9
Market Opportunities
  • Adoption of novel technologies can present
    lucrative growth opportunities
  • Major companies in precision agriculture are
    focused on providing data services, in order to
    aid farmers to optimize yield capacity and
    enhance resource utilization. For instance, in
    March 2016, TerrAvion launched areal data
    services for farmers with the aid of drones and
    thermal imagery technology.
  • Research and development activities can present
    business opportunities
  • Major companies in the market are focused on
    research and development activities, in order to
    innovate novel products. For instance, in June
    2016, Agribotix LLC introduced the Agribotix
    Agrion system, which is an agricultural drone
    solution, in order to aid farmers to evaluate the
    entire field. Furthermore, in May 2015, SemiosBio
    Technologies Inc. introduced a module i.e., Forst
    module, for its precision farming platform in
    order to broaden its solution offerings.

10
  • Figure 2 Global Smart Agriculture Solution
    Market Value (US Mn), 2017 - 2027

11
Market Trends
  • Increasing partnerships with various entities
  • Major companies in the market are focused on
    partnership and collaboration activities, in
    order to gain a competitive edge in the market.
    For instance, in January 2016, Agribotix LLC
    partnered with Hawkins Manufacturing, Inc. in
    order to enhance its presence across North
    America. Moreover, in November 2016, Trimble
    Navigation Ltd. partnered with Precision AG,
    Agrinetix, Géo-Pro, and Avidor High Tech France
    and KOREC in order to enhance its presence in the
    markets in North America and Europe.
  • Major investment by market players is another
    trend
  • Key players in the market are investing
    significantly in other ventures, in order to
    expand the market presence. In April 2016,
    SemiosBio Technologies Inc. received investment
    from Agtech community with the aid of Haywood
    Securities. This investment is expected to aid
    the company in broadening its presence and
    solution portfolio.

12
Competitive Section
  • Major companies operating in the global smart
    agriculture solution market are Dirt Road Data,
    Inc., AgJunction LLC, Iteris, Inc., Site-Specific
    Technology Development Group, Inc., CropMetrics
    LLC, Trimble Navigation Ltd., Agribotix LLC,
    AgEagle Aerial Systems Inc., Granular, Inc.,
    AgriSight, Inc., and SemiosBio Technologies Inc.

13
Key Developments
  • Major market players are focused on product
    launches, in order to enhance expand the product
    portfolio. For instance, in November 2019,
    Trimble Navigation Ltd. introduced precision
    agriculture solutions GFX-350 Display and NAV-500
    Guidance Controller at Agritechnica 2019,
    Germany.
  • Key companies in the market are involved in
    mergers and acquisitions, in order to enhance the
    market presence. For instance, in August 2018,
    AgEagle Aerial Systems Inc., a provider of drone
    imagery data analysis, acquired Agribotix LLC.

14
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com/
    market-insight/smart-agriculture-solution-market-3
    931

15
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

16
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

17
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