Smart Agriculture Market Trends Will Generate New Growth Opportunities Status

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Smart Agriculture Market Trends Will Generate New Growth Opportunities Status

Transparency Market Research delivers key insights on the global smart agriculture market. In terms of revenue, the global smart agriculture market is estimated to expand at a CAGR of 13.30% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global smart agriculture market.

Smart agriculture mainly focuses on development of infrastructure for the agricultural business by adopting new technology. Technological advancement among various connected technologies such as WiFi, Zigbee, and other wireless communication technology helps farmers to perform numerous agriculture operations such as harvesting, purchasing, and inventory, which further reduces the manual effort in agriculture. Increasing demand for quality food and rising production of food by implementing advance technology in the agriculture sector are projected to expand the smart agriculture market during the forecast period.

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Smart agriculture helps farmers to earn more revenue; hence they are ready to pay extra money for the adoption of advanced technologies provided they can improve efficiency and productivity. Increasing investment by farmers in precision farming and farm management helps to drive the smart agriculture market. Furthermore, advancements in software and hardware technology are creating a new wave in agriculture with the penetration of smart sensors, robotic automation, digital data, and various innovative techniques that helps farmers to adopt smart agriculture.

Leading-edge Smart Agriculture Systems Fueling Market Growth

Companies operating in smart agriculture are innovating in next-gen manure cleaning systems with robotic technology, designed to improve cow comfort. These smart systems also help to improve their hoof condition without the need for water, thus saving water resources. Smartphone companies are entering into collaboration agreements to deploy new smart agriculture as a service solution using the sensor technology for increasing the productivity of Indian farmers.

Key players in the smart agriculture market are launching new precision agriculture apps that help collect accurate data regardless of the machine type or width of the equipment.

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IoT Technology Increases Availability of Organic Food Products

The burgeoning growth in use of the Internet of Things (IoT) technology in the farming industry helps farmers to monitor product development by enabling real-time assistance using IoT applications. The use of IoT applications in traditional agriculture methods helps to reduce time and cost involved to ensure the availability of farming resources such as land, water, and energy, whilst helping farmers to focus on delivering quality food to customers.

The implementation of IoT-based devices in the agricultural sector also eliminates the use of pesticides and fertilizers in precision farming techniques, which further improves the health of crops or soil to deliver organic food to various end users.

Dynamics

Smart agriculture has been offering rapid transformation in terms of products and services offered by the agriculture sector over the past few years. The adoption of advance technologies such as cloud and artificial intelligence (AI) in agriculture to provide real time assistance to farmers is expected to propel the growth of the smart agriculture market during the forecast period. However, lack of connected devices used in the agriculture sector creates disruptions in communication between the developer and farmer. The fragmented agriculture sector negatively impacts the growth of the smart agriculture market.

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