SAN FRANCISCO, Aug. 27, 2019 /PRNewswire/ -- Global Smart Farming Market is estimated to expand at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. Factors such as increasing population and the growing demand for food, acceptance of cloud-based services, GPS, Internet of Things, and favorable government initiatives are likely to drive the market in the forthcoming period.
On the other hand, high cost of installation of smart agriculture equipment and lack of standardization in smart agriculture are anticipated to hinder market growth in the future. However, technological advancement is likely to create lucrative opportunities for the market. Market Smart farming could be explored by type, solution, application, and geography. The smart farming industry by type could span Livestock Monitoring, Precision Farming, Smart Greenhouse, and Others.
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Smart farming market could be explored based on a solution as Agriculture Asset Management, Network Management, Supervisory Control, and Data Acquisition, Smart Water Management, Logistics and Supply Chain Management, and Others. The "Network Management" segment accounts for a prominent share in the market. It is likely to witness substantial growth in the years to come. Smart farming industry could be explored based on the application as Livestock Monitoring, Precision Agriculture, Smart Greenhouse, Fish Farming and Others.
Smart farming market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as to develop the crop yield and increasing investments by governments for research activities in order to minimize the human contribution. North America is followed by Europe and Asia-Pacific region owing to increasing contribution from China and India.
Key players operating in the smart farming market include Raven Industries Ltd., TeeJet Technologies, AgJunction Inc., Trimble Navigation Ltd., SST Development Group Inc., Deere & Co., Ag Leader Technology, Hexagon AB, and Iteris Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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- Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Smart Farming in these regions, from 2012 to 2023 (forecast), covering
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Columbia)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
- Global Smart Farming market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- John Deere
- Raven Industries
- Precision Planting
- Agco Corporation
- AG Leader Technology
- Dickey-John Corporation
- Raven Industries Inc
- Teejet Technologies
- Topcon Precision Agriculture
- Trimble Navigation Limited
- Spraying Systems Co
- On the basis of product, this report displays the production, revenue, price, and market share and growth rate of each type, primarily split into
- Automation & Control Systems
- Wireless Connectivity & Sensors
- Smart Agricultural Equipment & Machinery
- On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Smart Farming for each application, including
- Fleet management - Tracking of Farm Vehicles
- Arable Farming, Large and Small Field Farming
- Indoor farming - Greenhouses and Stables
- Livestock Monitoring
- Fish Farming
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