The ongoing health crisis around
COVID19 has affected all walks of life. COVID 19 realises the importance of all
essentials items specifically food, to people owing to shortage in supplies of
equipment required for harvesting. More than 120 million farmers are there in
India, who contributes 40% in the country’s grain production which includes
fruits, vegetables, oilseeds, rice, wheat and other crops in order to survive.
This means half of the India’s population is depending on agriculture for their
livelihood. Hence, food is an essential need for surviving, irrespective of the
occurrence of any crisis impacting the economy. This is possible only with good
growth in agriculture sector. To ensure the flow of food in an economy and to benefit
the agriculture sector during this pandemic, governments have taken various
initiatives. For instance, Indian Finance Minister provided INR 1.7 trillion
package to vulnerable sections including farmers and also offered INR 2000 to
bank accounts of farmers as income support under PM-KISAN scheme. In the course
of this chaos, we are offering complete support to our clients in understanding
the influence of COVID-19 on the global smart
agriculture industry. Our report consists of:
·
Technological Impact
·
Social Impact
·
Investment Opportunity Analysis
·
Pre- & Post-COVID Market Scenario
·
Infrastructure Analysis
·
Supply Side & Demand Side Impact
According
to a recent report published by Research Dive, the global smart
agriculture market is set to grow at a considerable CAGR and is projected to
generate a revenue of $25.6 billion during the period of forecast from 2019 to
2027.
The report segments the global market
on the basis of type, application, and regions. This report is a comprehensive
analysis of recent drivers, key segments, opportunities, restraints, and major
players of the market.
Download Sample Report and know How Population explosion, Scarce fertile land, Climate
changes, and Technological advancements are the key factors in Smart Agriculture
market growth @ https://www.researchdive.com/request-toc-and-sample/235
Factors
Affecting the Market Growth
As per the report, increasing demand
for food supply coupled with growth in number of population, surge in demand of
smart technologies and rise in need for food quality are driving the growth of smart
agriculture market. However, high cost associated with innovative agriculture
equipment can restrain the market growth.
Precision Farming Segment to Dominate the Industry
Based on type, the global smart
agriculture market is segmented into precision farming, livestock monitoring,
fish farming, smart greenhouse, and others. Of these, the precision farming
segment held the majority of share in 2018 and is expected to grow at the
fastest CAGR during the forecast period. This is mainly because precision
farming involves observing and monitoring of progress in agricultural-related
activities. Precision farming ensures optimum utilization of land and helps in
producing high-quality crops with keeping soil quality intact.
Yield Monitoring Segment to be Most Lucrative by 2027
On the basis of application, the
global market is segmented into irrigation management, weather tracking &
forecasting, water quality management, crop scouting, field mapping, yield
monitoring, and others. The yield monitoring segment is anticipated to grow at
the highest rate during the forecast period owing to the growing need for
efficient crop production with the availability of scarce resources.
Check out How
COVID-19 impact on the Smart Agriculture Market. Click here
to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/235
North America Region to Account for Majority of Share by 2027
Based on the region, the global
smart agriculture market is divided into North America, Asia Pacific, LAMEA,
and Europe. The North America market for
smart agriculture accounted for the largest market share in 2018 and is
anticipated to continue its trend during the forecast period. This is
majorly owing to technological developments in the field of crop monitoring and
artificial intelligence in agriculture.
Major Players of the Market
The major players operating in the
global smart agriculture market include
·
TOPCON Positioning systems,
·
Deere & Company,
·
AGCO Corporation,
·
SST Development Group,
·
AG Leader Technology,
·
Raven Industries,
·
Cropmetrics,
·
Trimble Inc.,
·
Precision Planting LLC.,
·
AG Junction.
These players are implementing
various strategies such as strategic alliances and advanced product
developments to obtain a robust market position.
About Us:
Research Dive is a market research firm based in
Pune, India. Maintaining the integrity and authenticity of the services, the
firm provides the services that are solely based on its exclusive data model,
compelled by the 360-degree research methodology, which guarantees
comprehensive and accurate analysis. With unprecedented access to several paid
data resources, team of expert researchers, and strict work ethic, the firm
offers insights that are extremely precise and reliable. Scrutinizing relevant
news releases, government publications, decades of trade data, and technical
& white papers, Research dive deliver the required services to its clients
well within the required timeframe. Its expertise is focused on examining niche
markets, targeting its major driving factors, and spotting threatening
hindrances. Complementarily, it also has a seamless collaboration with the
major industry aficionado that further offers its research an edge.
Contact us:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free: +1-888-961-4454
E-mail: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Blog: https://www.researchdive.com/blog
Follow
us: https://marketinsightinformation.blogspot.com/
Comments
Post a Comment