Smart Agriculture Market to Reach $11.23 Billion by 2022 - Rising Need of Monitoring Livestock Performance and Health - Research and Markets
DUBLIN, Mar 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Smart Agriculture Market - Global Forecast to 2022" report to their offering.
According to forecasts, the smart agriculture market, in terms of value, is expected to grow from USD 5.18 Billion in 2016 to USD 11.23 Billion by 2022, at a CAGR of 13.27% between 2017 and 2022. The major drivers for the smart agriculture market include increasing application of technologies in agriculture, rising need of monitoring livestock performance and health, government's support to adopt modern agricultural techniques, and increasing demand for food worldwide.
Smart agriculture tools are most widely used in precision farming as they play a vital role in improving farm efficiency and help growers in maximizing their crop yields. Yield monitoring is a major application of precision farming used to identify the field variability information, which includes weather conditions, soil properties, and fertilizers. Soil monitoring is a major application of yield monitoring, which helps to identify different soil parameters to maintain the nutrient level of the soil.
The market for drones/unmanned aerial vehicles (UAVs) is expected to grow at a significant rate between 2017 and 2022. The increasing adoption of drones by farmers, owing to their ease of use and affordability, is the major reason behind the high growth of this market. Moreover, several smart agriculture service providers are offering drones as part of their services, thereby driving the growth of the smart agriculture market for drones/UAVs.
The smart agriculture market for connectivity services is expected to grow at a high rate between 2017 and 2022. The smart agriculture market, on the basis of services, has been segmented into system integration & consulting services, managed services, connectivity services, assisted professional services, and maintenance and support services. The adoption rate of connectivity services is expected to be high compared to other services as in case of these services, information about crops, animal health, as well as about tractor guidance, among others, is collected at a device level and is transmitted through a network channel. The network channel is usually provided by the connectivity service providers that deliver proper connectivity between the device domain and the end users. The device domain typically comprises sensor monitoring systems, GPS/GNSS receivers, and guidance and steering systems, among others. The device domain is responsible for generating real-time data, which can assist the end users in making decisions.
Companies Mentioned:
- AG Leader Technology
- Agco Corporation
- Agjunction, Inc.
- Aururas S.R.L
- Boumatic LLC.
- Deere & Company
- Delaval Corporation
- Farmer at Hand
- Farmeron
- GEA Group AG
- Grownetics Inc.
- Precision Planting, Inc.
- Others
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Smart Agriculture Market, By Agriculture Type
8 Smart Agriculture Market, By Offering
9 Smart Agriculture Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/jcq566/smart_agriculture
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