The market growth is primarily attributed to the increasing demand for the growing penetration of information and communication technology (ICT) in Agriculture. The market is experiencing growth as a result of increased awareness of the environmental benefits of agriculture technology.
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The market of agriculture technology is mostly referred as smart agriculture where there is higher involvement of Internet of Things (IoT) technology and solutions which is capable of enhancing operational efficiency, minimize wastage and maximize yield with the help of real-time field data collection, development of control mechanism and data analysis. The agricultural retailers share in the United States alone that cater yield monitor data analysis was anticipated to take a leap of 58 percent in 2018 which was earlier 51 percent in 2015. Mostly, smart agriculture employs vast range of IoT-based applications like smart irrigation, precision farming, variable rate technology as well as smart greenhouses.
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Agriculture is tremendously impacted by digital technologies, starting with autonomous robots that pick fruit to subterranean farms and holistically assisting in transformation of the agriculture industry. The adoption rate of digital technologies in agriculture has accelerated with a vigorous pace. In the agricultural industry, there is wide spectrum of digital technologies that fall under the category of “precision agriculture” and has undergone 360 degree turn in the approaches with which farmers handle or manage their crops.
The global agriculture technology market has been segmented by different agriculture types, offerings, applications and geography. Further, agriculture type segment of the market has been sub-segmented into precision farming, livestock monitoring, fish farming, smart greenhouses and others (orchid, forestry & horticulture). Precision farming agriculture type led the market with highest share owing to increasing adoption of precision agriculture technologies including remote sensing, positioning systems, guidance system as well as flexible rate technology by farmers across the world.
Some of the major factors driving the agriculture technology market growth include rising inclination towards technologies in agriculture, increasing need for monitoring livestock performance as well as health, government’s provision for the adoption of modern techniques for agriculture and increasing population & urbanization. On the other hand, deteriorating economic growth and ecological changes in several regions are some of the factors that can restraint the markets growth over the forecast period.
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Geographically North America led the global agriculture technology market with highest share, as several countries in the region such as the United States and Canada are the primary adopters of agriculture technologies.
Key players in the competitive landscape of agriculture technology market across the globe include (Trimble) (US), Deere & Company (US), Raven Industries (US), AGCO (US), AgJunction (US), AG Leader Technology (US), GEA Group (Germany), DeLaval (Sweden), Precision Planting (US), Teejet Technologies (US), SST Development Group (US), Topcon Positioning Systems (US), CropMetrics (US), DICKEY-john Corporation (US), Agribotix (US), ec2ce (Spain), The Climate Corporation (US), Gamaya (Switzerland), Descartes Labs (US), Granular (US), Autonomous Tractor Corporation (US), Prospera Technologies (Israel), Decisive Farming (Canada), Autocopter Corp (US) and Hexagon Agriculture (Brazil). Some of the major players in the market adopted for several strategies including mergers, partnerships, collaborations, expansions and new product developments in order to satisfy their customer demands.
Some Key Highlight Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Agriculture Technology Market Overview, By Solution
Chapter 5. Global Agriculture Technology Market Overview, By Application
Chapter 6. Global Agriculture Technology Market Overview, By Region
Chapter 7. Company Profiles
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