Global Agriculture Solution
Market By Component (Hardware, Sensor Monitoring
System, Smart detection system, drones, GPS Enabled Ranging System, software
and services, Climate information service, supply chain management service) and
Region - Global Forecast to 2024
Market Size & Forecast
Global
smart agriculture solution market is expected to flourish at a significant
compound annual growth rate (CAGR) of 11.5% over the forecast period 2017-2024.
The global smart agriculture solution
market stood at revenue around USD 10.2 Billion by the end of year 2016.
Further, the market is projected to reach at a valuation about USD 38.1 Billion
by the end of forecast period. In terms of share, the hardware components
captured around 50% in the global smart agriculture solution market share and
are expected to behold this growth over the forecast period.
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In terms
of region, global smart agriculture solution market is segmented into five
major regions including North America, Europe, Asia Pacific, Latin America and
Middle East & Africa region. Among these regions, North America region has
been the biggest smart agriculture solution market and was valued at 5.2
Billion by the end of year 2016. North America region is expected to flourish
at a compound annual growth rate (CAGR) of 9.9% during the forecast period and
is projected to reach at a valuation of more than USD 15.2 Billion by the end
of forecast period.
Asia
Pacific region is anticipated to grow at fastest compound annual growth rate
(CAGR) around 13.7% during the forecast period. Rising adoption of smart
agriculture solution in emerging countries is driving the market of smart
agricultural solutions. Further, Latin America region is also expecting to
witness a significant compound annual growth rate (CAGR) of 12.5% over the
forecast period.
Market Segmentation
Our-in
depth analysis of the global smart agriculture solution market includes the
following segments:
By Component
·
Hardware
o Sensor Monitoring System
o Smart Detection System
o Drones
o GPS Enabled Ranging System
·
Software
and Services
o Climate Information Service
o Supply Chain Management
service
·
Others
(System Integration and Consulting Service)
By Solution
·
Automated
Machinery Guidance Control
·
Tractor
Collision and Obstacle Detection
·
Machinery
Safety and Parameter Monitoring
·
Variable
Rate Technology
·
Building
and premises surveillance
By Region
Global
smart agriculture solution market is further classified on the basis of region
as follows:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity
Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis.
·
Middle
East and Africa (GCC, North Africa, South Africa & Rest of Middle East)
Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers & Challenges
Rising
global population coupled with increasing demand for food are some of the key
factors which are driving the growth of global smart agriculture
solution market. Government of many countries are promoting smart
agriculture solution and encouraging farmers to adopt these smart agriculture
solutions. These government initiatives are expected to propel the demand for
smart agriculture solutions in near future. Apart from this, smart agriculture
solutions offer many benefits such as improved farm yield, better quality and
high returns. Further, these benefits are anticipated to drive the growth of
smart agriculture solution market.
Smart
agriculture solution service companies are providing data services in order to
help farmers to improve yield capacity and enhance resources utilization. This
factor is expected to propel the growth of smart agriculture solution market
globally. Further, adoption of smart agriculture solution in fish farming to
improve the productivity and help in monitoring feeding pattern is also
anticipated to foster the growth of global smart agriculture solution market.
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Nonetheless,
the lack of internet in rural areas and absence of wireless connectivity are
some major reasons which are preventing the expansion of smart agriculture
solution in farm lands and rural areas.
Key Players
·
Vodafone
Group PLC
o Company Overview
o Key Product Offering
o Business Strategy
o SWOT Analysis
o Financials
·
Trimble
Navigation Ltd.
·
Cisco
Systems Inc.
·
Salt
Mobile SA
·
Accenture
PLC
·
Deere
& Co.
·
IBM
Corporation
·
Epicor
Software Corporation
·
Hexagone
AB
Scope
& Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
smart agriculture solution market is segmented as follows:
·
By
Component Type Size & Y-O-Y Growth Analysis
·
By
Solution Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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