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Global Smart Agriculture Market By Agriculture Type (Livestock Monitoring, Precision Forestry, Precision Aquaculture, Others), By Offering (Hardware, Services and Software), By Application, By Region, Forecast & Opportunities to 2026

The global smart agriculture market accounted for a value of USD 11.9 billion in 2019 and is projected to register growth at a CAGR of 8.1% during forecast period.

COVID-19 has impacted the smart agriculture market. The supply chain of various industry of smart agriculture such livestock monitoring, precision farming and forestry got disrupted due to travel restriction and lockdown implemented by governments of various countries and this resulted in increase in demand for farm management and remote monitoring technology software tools. However, the market for this software is likely to grow more post COVID-19. The demand for agriculture equipments and technologies is declining due to outbreak of corona virus. The market for smart agriculture is likely to witness higher growth post COVID-19.

Definition:

Smart Farming is a concept that can be defined as farm management using modern communication and information technologies. This technology helps in increasing the quality and quantity of products. The smart agriculture uses advanced technology such additional wireless sensor, low power wide area and WiFi zigbee etc. The smart agriculture includes IoT and AI technologies which helps in monitoring the crop field and automate the irrigation process.

Market Dynamics (Drivers/Opportunities):

The smart agriculture helps in providing higher returns for agribusiness. It help farmers in combating the negative effects of nature on crops by collecting geospatial data of livestock, plant, soil and other field information. The precision farming provides inputs about required quantities of water irrigation, herbicides, pesticides and nutrients. This technology helps in reducing water for irrigation and other resources. This drives growth in smart agriculture market during forecast period.

The smart agriculture technology helps in reducing cost of farming and it increases efficiency of farming using process automation and it helps in improving output. This increases deployment of smart agriculture technologies and this drives growth in the smart agriculture market during forecast period.

Market Insights, by Agriculture Type

On the basis of agriculture type, the smart agriculture market is segmented into precision farming, livestock monitoring, precision forestry, smart greenhouse, precision aquaculture and others. The precision faming segment is estimate to hold largest market share during forecast period.  The focus is rising towards increasing farm productivity and efficiency. The precision farming helps in changing the agriculture concept for good and it helps in making traditional agriculture activities more efficient. These technologies are used to manage the crop and soil effectively. This increases adoption of precision farming and drives growth in this segment during forecast period.

Market Insights, by Offering

On the basis of offering, the smart agriculture market is segmented into hardware, software and services. The hardware segment is estimated hold largest market share during forecast period. The adoption of modern and new technologies in smart agriculture market is increasing around the globe. The adoption of automation and control systems such as irrigation controllers, GPS receivers and steering systems is increasing in the market and this increases the growth of hardware offering. The deployment of IoT and AI in agriculture is increasing. This drives growth in hardware offering segment during forecast period.

Regional Insights

The North America region is estimated to grow at highest CAGR during forecast period. The government in this region is implementing various policies to enhance the agriculture sector. Various organizations related to agriculture have formed alliance and are performing various activities to educate the farmers or cultivators about new and efficient farming technologies which helps in increasing the agriculture productivity. The government in this region is also providing subsidy to enhance and improve the techniques and this increases adoption of smart agriculture technologies. Thus, drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in smart agriculture industry are Deere & Company, Trimble, Topcon Positioning, Devlaval, Antelliq, afimilk Ltd., AKVA Group, Innovasea Systems, Heliospectra, Lumigrow, Treemetrics, Nedap NV, Agjunction, AG Leader Technology, Raven Industries, Aquabyte, Fancom B.V. and Boumatic LLC.

Segments Covered in the Report

This report forecasts The Global Smart Agriculture Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global smart agriculture market report on the basis of agriculture type, offering and application.

Smart Agriculture Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Smart Agriculture Market, By Agriculture Type , Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Precision Farming
  • Livestock Monitoring
  • Precision Forestry
  • Smart Greenhouse
  • Precision Aquaculture
  1. Smart Agriculture Market, By Offering, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hardware
  • Software
  • Services
  1. Smart Agriculture Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Precision Farming Application
  • Livestock Monitoring Application
  • Precision Forestry Application
  • Precision aquaculture Application
  • Smart greenhouse Application
  1. Smart Agriculture Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Agriculture Type
    • By Offering
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Agriculture Type
      • By Offering
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Agriculture Type
        • By Offering
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Agriculture Type
          • By Offering
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Agriculture Type
            • By Offering
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Boumatic LLC
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Deere & Company
    • Trimble
    • Topcon Positioning
    • Devlaval
    • Antelliq
    • Afimilk Ltd.
    • AKVA Group
    • Innovasea Systems
    • Heliospectra
    • Lumigrow
    • Treemetrics
    • Nedap NV
    • Agjunction
    • AG Leader Technology
    • Raven Industries
    • Aquabyte
    • Fancom B.V.
    • Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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