Smart Agriculture Market Expected to Reach USD 18.45 Billion by 2022, at a CAGR of 13.8% Between 2016 and 2022

Feb 12, 2016, 19:10 ET from Research and Markets

DUBLIN, Feb. 12, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/7nd72d/smart_agriculture) has announced the addition of the "Smart Agriculture Market by Hardware and Network Platform (GPS/GNSS Devices, Sensor Monitoring Systems, and Smart Detection Systems/Network Elements), Service, Software, Application, and Geography - Global Forecast to 2022" report to their offering.

The total market segmented on the basis of application (hardware and network platform and services) is expected to reach USD 18.45 Billion by 2022 from USD 9.02 Billion in 2016, at a CAGR of 13.8% between 2016 and 2022.

The increasing adoption of technology in agriculture and global rise in the demand for food are the major drivers for the market. Connected technology is used in precision farming, livestock monitoring, fish farming, smart greenhouse, and others. Connected technologies such as cloud computing, ZigBee, wireless sensor networks, and others help in enhancing the production and yield. Cloud computing provides real-time data of the farm land to assist in planning, purchasing, inventory control, planting, harvesting, and others. Sensors, irrigation control, variable rate technology (VRT), and other technologies helps in reducing the wastage of input and enhance the productivity of land.

GPS/GNSS is expected to hold a large share of the market in the hardware and network platform segment of the Smart agriculture market in 2015. GPS is used in tractor guidance, variable rate technology (VRT), soil condition monitoring, livestock tracking, and others. GPS technology provides various benefits in smart agriculture such as minimizing overlapping and spraying gaps, reducing the use of fertilizer, reducing chemical costs, and ensuring minimal environmental impact.

The precision farming application is expected to account for the largest share of the application segment of the smart agriculture market. Smart agriculture optimizes the efficiency of fields and operational practices in use. Precision farming helps growers to break down fields into zones, creating a site-specific approach to maximize yields and minimize input costs. Yield monitor is one of the essential elements of precision farming, which record site-specific yield data on the basis of moisture content observed by sensors inside the harvester.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 IoT-Based Smart Agriculture Market, By Hardware and Network Platform

8 IoT-Based Smart Agriculture Market, By Services

9 IoT-Based Smart Agriculture Market, By Software

10 IoT-Based Smart Agriculture Market, By Application

11 IoT-Based Smart Agriculture Market, By Geography

12 Competitive Landscape

13 Company Profiles

- AGCO Corporation - Agjunction Inc. - Deere & Company - Raven Industries, Inc. - SST Development Group, Inc. - Semiosbio Technologies Inc. - Trimble Navigation Limited

For more information visit http://www.researchandmarkets.com/research/7nd72d/smart_agriculture

Media Contact:

Laura Wood, +353-1-481-1716, press@researchandmarkets.net

 

SOURCE Research and Markets



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