Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Smart agriculture or smart farming is a farming management concept that uses modern technology to increase the quality and quantity of agricultural products. Smart agriculture solution helps various entities including farmers and distributors in the value chain, in order to transform and reorient agricultural systems to optimize food productivity. This, in turn, ensures higher productivity with the effective use of resources and prevention of food loss to a certain extent. Both hardware and software components are part of smart agriculture solutions. Hardware components include sensor monitoring, smart detection, GPS enabled ranging systems, and drones.

The global Smart Agriculture Solution Market was accounted for US$ 18975.7 Mn in terms of value in 2019 and is expected to grow at CAGR of 11.2% for the period 2020-2027.

Market Dynamics- Drivers

  1. Wide availability of low-cost sensors is expected to drive growth of the global smart agriculture solution market during the forecast period

Cost and size of various sensors such as temperature, load, and vibration have decreased significantly in the recent past. This is typically due to technological advancements in the semiconductor industry along with intense competition among various manufacturers. Such sensors are an important component in the market and serve to collect and formulate information required for testing and monitoring health and status of crops, soil, weather, etc. Thus, these factors are expected to drive growth of the global smart agriculture solution market during the forecast period.

  1. Rising need to address soil erosion from intensive farming is expected to propel the global smart agriculture solution market growth over the forecast period

Condition and status of soil and its properties are crucial for making decisions concerning sustainable soil management, which in turn, contributes to appropriate land use. It is vital to carry out soil assessments and undertake analysis and mapping of data and information through soil surveys. Therefore, these factors are expected to propel the global smart agriculture solution market growth over the forecast period.

Smart Agriculture Solution Market - Impact of Coronavirus (Covid-19) Pandemic

Many governments around the globe such as India, Spain and Italy have imposed nationwide lockdown to prevent the spread of COVID-19 disease. For instance, India have imposed lockdown from 25 March to 1 May until the further notice. Lockdown resulted in the shortage of the workers at the farms. Due to the manpower shortage the farms are struggling to carry out the plantation activities. Moreover, there is also shortage of transportation facilities such as Trucks and Trains. Owing to above mentioned factors, the COVID-19 pandemic is expected to restrain the market growth during the year 2020.

Statistics:

North America held dominant position in the global Smart Agriculture Solution market in 2019, accounting for 51.9% share in terms of value, followed by Europe and Asia Pacific respectively

Figure 1: Global Smart Agriculture Solution Market Share (%) in terms of Value, By Region, 2019

Smart Agriculture Solution  | Coherent Market Insights

Market Dynamics- Restraints

  1. Lack of established wireless and broadband coverage in rural areas is expected to restrain growth of the global smart agriculture solution market during the forecast period

Lack of adequate infrastructure for wireless and broadband coverage, especially in emerging economies such as Africa and India is a major challenging factor. There is a lack of proper infrastructure for wireless coverage, which in turn, hinders the adoption of smart agriculture solutions. Thus, these factors are expected to restrain growth of the global smart agriculture solution market during the forecast period.

  1. Uncertainty of weather and political factors is expected to hinder the global smart agriculture solution market growth over the forecast period

Factors such as weather and local political and economic changes cannot be accounted for and cannot be calibrated. Thus, these factors are expected to hinder the global smart agriculture solution market growth over the forecast period.

request-sample

Smart Agriculture Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 18,975.7  Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 11.2% 2027 Value Projection: USD 44,358.5 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Component: (Hardware (Sensor Monitoring System, Smart Detection System, GPS Enabled Ranging System And Drones), Software, Service (Climate Information Service, Supply Chain Management Service And Others(System Integration, Maintenance and Consulting Service))
  • By Solution: (Automated Machinery Guidance Control, Tractor Collision and Obstacle Detection, Machinery Safety and Parameter Monitoring, Variable Rate Technology and Building and Premise Surveillance)
Companies covered:

Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.

Growth Drivers:
  • Wide availability of low-cost sensors
  • Rising need to address soil erosion from intensive farming
Restraints & Challenges:
  • Lack of established wireless and broadband coverage in rural areas.

Market Opportunities

  1. Adoption of novel technologies can present lucrative growth opportunities

Major companies in precision agriculture are focused on providing data services, in order to aid farmers to optimize yield capacity and enhance resource utilization. For instance, in March 2016, TerrAvion launched areal data services for farmers with the aid of drones and thermal imagery technology.

  1. Research and development activities can present business opportunities

Major companies in the market are focused on research and development activities, in order to innovate novel products. For instance, in June 2016, Agribotix LLC introduced the Agribotix Agrion system, which is an agricultural drone solution, in order to aid farmers to evaluate the entire field. Furthermore, in May 2015, SemiosBio Technologies Inc. introduced a module i.e., Forst module, for its precision farming platform in order to broaden its solution offerings.

Figure 2: Global Smart Agriculture Solution Market Value (US$ Mn), 2017 - 2027

Smart Agriculture Solution  | Coherent Market Insights

The global Smart Agriculture Solution market was valued at US$ 18975.7 Mn in 2019 and is forecast to reach a value of US$ 44,358.5 Mn by 2027 at a CAGR of 11.2% between 2020 and 2027

Market Trends

  1. Increasing partnerships with various entities

Major companies in the market are focused on partnership and collaboration activities, in order to gain a competitive edge in the market. For instance, in January 2016, Agribotix LLC partnered with Hawkins Manufacturing, Inc. in order to enhance its presence across North America. Moreover, in November 2016, Trimble Navigation Ltd. partnered with Precision AG, Agrinetix, Géo-Pro, and Avidor High Tech France and KOREC in order to enhance its presence in the markets in North America and Europe.

  1. Major investment by market players is another trend

Key players in the market are investing significantly in other ventures, in order to expand the market presence. In April 2016, SemiosBio Technologies Inc. received investment from Agtech community with the aid of Haywood Securities. This investment is expected to aid the company in broadening its presence and solution portfolio.

Competitive Section

Major companies operating in the global smart agriculture solution market are Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.

Key Developments

  1. Major market players are focused on product launches, in order to enhance expand the product portfolio. For instance, in November 2019, Trimble Navigation Ltd. introduced precision agriculture solutions GFX-350 Display and NAV-500 Guidance Controller at Agritechnica 2019, Germany.
  2. Key companies in the market are involved in mergers and acquisitions, in order to enhance the market presence. For instance, in August 2018, AgEagle Aerial Systems Inc., a provider of drone imagery data analysis, acquired Agribotix LLC.

Smart agriculture or smart farming is a farming management concept that uses modern technology to increase the quality and quantity of agricultural products. Smart agriculture solution helps various entities including farmers and distributors in the value chain, in order to transform and reorient agricultural systems to optimize food productivity. This, in turn, ensures higher productivity with the effective use of resources and prevention of food loss to a certain extent. Both hardware and software components are part of smart agriculture solutions. Hardware components include sensor monitoring, smart detection, GPS enabled ranging systems, and drones.

Market Dynamics

Cost and size of various sensors such as temperature, load, and vibration have decreased significantly in the recent past. This is typically due to technological advancements in the semiconductor industry along with intense competition among various manufacturers. Such sensors are an important component in the market and serve to collect and formulate information required for testing and monitoring health and status of crops, soil, weather, etc. Thus, these factors are expected to drive growth of the global smart agriculture solution market during the forecast period. Condition and status of soil and its properties are crucial for making decisions concerning sustainable soil management, which in turn, contributes to appropriate land use. It is vital to carry out soil assessments and undertake analysis and mapping of data and information through soil surveys. Therefore, these factors are expected to propel the global smart agriculture solution market growth over the forecast period.

Market Taxonomy

This report segments the Global Smart Agriculture Market on the basis of Component, Solution, and Region. On the basis of Component, Global Smart Agriculture Market is segmented into Hardware (Sensor Monitoring System, Smart Detection System, GPS Enabled Ranging System And Drones), Software, Service (Climate Information Service, Supply Chain Management Service And Others(System Integration, Maintenance and Consulting Service). On the basis of Solution, the Global Smart Agriculture Market is segmented into Automated Machinery Guidance Control, Tractor Collision and Obstacle Detection, Machinery Safety and Parameter Monitoring, Variable Rate Technology and Building and Premise Surveillance. On the basis of region, Global Smart Agriculture Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Smart Agriculture Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Smart Agriculture Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Smart Agriculture Market includes Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Smart Agriculture market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Smart Agriculture Market.

Detailed Componentation:

  • Global Smart Agriculture Market, By Component:
    • Hardware
      • Sensor Monitoring System
      • Smart Detection System
      • GPS Enabled Ranging System
      • Drones
    • Software
    • Service
      • Climate Information Service
      • Supply Chain Management Service
      • Others(System Integration, Maintenance and Consulting Service)
  • Global Smart Agriculture Market, By Solution:
    • Automated Machinery Guidance Control
    • Tractor Collision and Obstacle Detection
    • Machinery Safety and Parameter Monitoring
    • Variable Rate Technology
    • Building and Premise Surveillance
  • Global Smart Agriculture Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • AgEagle Aerial Systems Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • AgJunction LLC
    • Agribotix LLC
    • AgriSight, Inc.
    • CropMetrics LLC
    • Dirt Road Data, Inc.
    • Granular, Inc.
    • Iteris, Inc.
    • SemiosBio Technologies Inc.
    • Site-Specific Technology Development Group, Inc.
    • Trimble Navigation Ltd.

Browse all the market data tables and figures on “Global Smart Agriculture Market - Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Component
      • Market Snippet, By Solution
      • Market Snippet, BY System and Platform
      • Market Snippet, By Service
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solution Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Smart Agriculture Market, BY Solution, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Component Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Sensor Monitoring System
        • Smart Detection System
        • GPS Enabled Ranging System
        • Drones
    • Software
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Service
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • Climate Information Service
        • Supply Chain Management Service
        • Others(System Integration, Maintenance and Consulting Service)
  6. Global Smart Agriculture Market, By Solution, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Component Trends
    • Automated Machinery Guidance Control
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Tractor Collision and Obstacle Detection
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Machinery Safety and Parameter Monitoring
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Variable Rate Technology
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Building and Premise Surveillance
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Smart Agriculture Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Component, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Component, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Component, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Component, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Component, 2020–2027(US$ Million)
      • Market Size and Forecast, By Solution, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • AgEagle Aerial Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AgEagle Aerial Systems Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Agribotix LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AgriSight, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • CropMetrics LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Dirt Road Data, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Granular, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Iteris, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • SemiosBio Technologies Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Site-Specific Technology Development Group, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Trimble Navigation Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Smart Agriculture Market -forecast to 2027”.

Frequently Asked Questions

The global market for Smart Agriculture Solution is expected to reach USD 25982.4 Million by 2022.
Wide availability of low-cost sensors is expected to drive growth of the global smart agriculture solution market during the forecast period.
Automated Machinery Guidance Control sub-segment holds the largest market share among Application Segment contributing 41.5% market share in terms of value in 2019.
North America region hold the largest share in the global Smart Agriculture Solution market in 2019, accounting for 51.9% share in terms of value.
Key players operating in the global Smart Agriculture Solution market are Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio Technologies Inc.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner