Smart Agriculture Market: Forecasts by Agriculture Type (Fish Farming, Livestock Monitoring, Precision Farming, Smart Greenhouses, and Others) by contribution (Drones, GPS, Hardware, LED Grow Lights, RFID, Sensors), by Application(Fish Farming Applications , Livestock Monitoring Applications, Precision Farming Applications, Smart Greenhouse Applications and Others) Leading manufacturer and Regional Market: Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2024. According to the report, developing economies are the most lucrative market for Smart Agriculture market during the forecast period 2018-2024
Introduction to Smart Agriculture Industry:
Smart agriculture is a revolution in the agriculture industry that helps to guide actions required to modify and reorient agricultural systems to effectively support the development and guarantee food security during an ever-changing climate. The main focus of approaching smart agriculture is to increase agricultural productivity and incomes. Climate-smart agriculture helps to reduce or remove greenhouse gas (GHG) emissions.
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Market Dynamics for Smart Agriculture industry:
The market is mainly driven by the increasing uncertainty of global climate. Rising concerns of food security coupled with output productivity of lands and crop yields in smart Agriculture market. Due to the high technological adoption in developed countries like U.S., Canada, and France among others. The increasing demand mainly from the developing regions like the Middle East & Africa, Asia-Pacific, and South American countries are also driving the market. The emerging markets such as India, China, Brazil, Southeast Asia, and Japan are expected to change the trends and dynamics of the market in the future. The high cost of smart Agriculture may hamper the demand for smart Agriculture.
Global Smart Agriculture Market: Segment Overview
The global smart agriculture market is estimated to register a CAGR of around 13.0% between 2018 and 2024. The market is mainly driven by the increasing adaptation of new technology and tools for applications such as fish farming, launching innovative products and services. Increasing investments in R&D of smart agriculture solutions and an increase in GDP of China and India are increasing the demand of Smart Agriculture market. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World.