Usage of information and communication technology to improve decision making in agriculture has been viewed as having high potential for long time now. Escalating demand on the global food supply chain has mandated maximization of agriculture resources in a sustainable manner. In terms of literacy, income and access to information and services, smallholder farmers are at the bottom of the pyramid, yet they represent a substantial share of economic activity for the world’s developing and underdeveloped economies. Regulatory authorities have focused on rural development by setting up infrastructure projects to ensure that the benefits of development can reach the remote places in the country. Smart agriculture solutions make use of such resources to maximize agriculture output. By using smart agriculture solutions, farmers can now enhance their skills and knowledge to become more competitive, improve agricultural productivity and raise the incomes of rural dwellers. It is further used for increasing production yield, facilitating connection of farmer with various players in the value chain and rendering painless financial services.
Smart Agriculture Solution Market: Segmentation
Smart agriculture market is segmented on the basis of type, application and region. By type, smart agriculture solution market can be segmented into solution, service and hardware. Smart agriculture solution market can be further sub-segmented according to solution which includes mobility solution, remote monitoring solution, supply chain management solution, quality assurance solution, data analytics solution and connectivity solution. By service, smart agriculture solution market can be further sub-segmented into consulting, integration & implementation and maintenance. On the basis of hardware, smart agriculture market can be sub-segmented into display, receivers and sensors. Regionally, smart agriculture solution market can be segmented as North America, Latin America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific excluding Japan (APEJ) and Japan.
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Smart Agriculture Solution Market: Regional Outlook
The global smart agriculture solution market is expected to witness a healthy CAGR till 2025 due to growing popularity of smart agriculture solutions among farmers especially in developed countries like USA, France, Germany and others. Globally, among all the regions, North America dominate the smart agriculture solution market and is expected to account for the highest share followed by Western Europe over the projected period. Asia Pacific region is expected to reflect the highest CAGR during the forecast period.
Smart Agriculture Solution Market: Drivers
Persistent need for improved revenue margins in agriculture sector, coupled with introduction of connected agriculture solutions in recent years is driving the growth of smart agriculture solution market. Furthermore, increasing focus on farmer-technology integration services by government of emerging economies is further expected to fuel the growth of smart agriculture solution market during the projected period 2015-2025. However, lack of awareness across smallholder farmers in emerging economies such as India, China, Brazil and others regarding adoption of smart agriculture solutions is hindering the growth of smart agriculture solution market. Also, lack of communication infrastructure in rural areas of developing countries dependent on agriculture is further expected to deter the growth of connected agriculture market amidst the forecast period.
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Smart Agriculture Solution Market: Key Players
The key vendors in the smart agriculture solution market include Vodafone Group PLC, Trimble Navigation Ltd., Cisco Systems Inc., Salt Mobile SA, Accenture PLC, Deere & Co., SAP SE, IBM Corporation, Epic or Software Corporation, Hexagon AB and others. Major players in the smart agriculture solution market follow the strategy of introducing innovative and cost-effective solutions to gain competitive edge. In addition, collaboration and strategic partnership are the other major strategies followed by the smart agriculture solution providers to outperform competitors.
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