CHICAGO, Dec. 13, 2019 /PRNewswire/ -- According to the new market research report "Smart Plantation Management Systems Market by Type (Irrigation Systems, Plant Growth Monitoring Systems, and Harvesting Systems), Crop (Coffee, Oilseeds, Sugarcane, and Cotton), Component (Hardware and Software), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Smart Plantation Management Systems Market is projected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2025, recording a compound annual growth rate (CAGR) of 5.8% during the forecast period. The major factors driving the growth of the smart plantation management systems market include the increase in adoption of plantation intelligence (PI) and data mining by farmers and a reduction in the wastage of resources and manpower.
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Plant growth monitoring systems are projected to form the fastest-growing segment in the smart plantation management systems market during the forecast period.
The smart plantation management systems market is segmented, on the basis of type, into irrigation systems plant growth monitoring systems and harvesting systems during the forecast period. Plant growth monitoring systems generate alerts & notifications, which help the farmers to control and track the growth status of the plant. It also anticipates the risk of future diseases. These systems are commonly used for various fruits, such as citrus, mango, and apples. Thus, advancements in crop protection are expected to drive growth.
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The fruit segment is projected to account for the largest market share in the smart plantation management systems market during the forecast period.
The smart plantation management systems market is segmented, on the basis of crop, into fruits, oilseeds, cotton, sugarcane, coffee, and others. The fruits segment is projected to be a leading segment in the smart plantation management systems market. Fruits have emerged as a key crop for the usage of smart plantation management systems, given the large number of players offering these systems for fruits and technologies developed for different types of fruits. Grapes, citrus fruits, and apples are the major fruits where smart plantation management systems have been implemented due to their higher cultivation.
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The North American region is projected to be the fastest-growing region in the smart plantation management systems market during the forecast period.
The North American region is projected to be the fastest-growing segment in the smart plantation management systems market during the forecast period, owing to the largest concentration of manufacturers and service providers involved in the smart plantation management systems market. The market in North America is facing an acute labor shortage due to work conditions and pay, resulting in the wastage of several plantation crops and agricultural land. Erratic weather patterns and the lack of proper information also result in crop losses. This has resulted in more farms seeking alternative solutions in the form of smart plantation management systems.
The prominent vendors in the smart plantation management systems market include Robert Bosch (Germany), Deere & Company (US), Netafim (Israel), Synelixis Solutions (Greece), DTN (US), AgroWebLab Co., Ltd (AWL) (China), Tevatronics (Israel), SemiosBio Technologies (Canada), WaterBit (US), Phytech (Israel), Rivulis (Israel), Jain Irrigation Systems (India), Hidrosoph (Portugal), and AquaSpy (US).
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