Smart agriculture involves agricultural practices that are carried out with the aid of internet of things (IoT), sensors, and other gadgets for increasing agricultural productivity. Smart agriculture also addresses food security and climate change challenges and benefits small farmers by increasing the efficiency and productivity of operations. Smart agriculture practices are beneficial for protecting ecosystems and landscapes thus helping conserve natural resources for future generations.
The report states that the global smart agriculture market has been showing rapid growth in the recent past. A persistent demand for higher income margins in the agricultural sector is one of the major reasons driving this market. The use of connected devices in agricultural practices, which has been promoted by government initiatives, is expected to fuel the growth of the smart agriculture market over the forecast period.
However, the growth of this market is restrained due to certain factors. Smart agriculture is new, especially for small farmers in the emerging economies of India, China, and Brazil. In these countries, small farmers are not technology-savvy and still follow legacy farming practices. Smart agriculture also requires uninterrupted Internet connectivity, which is not available yet in remote areas.
In present times, technology is the backbone of operations in practically all walks of life from education to industry to agriculture to services. Transparency Market Research’s (TMR) study on the global smart agriculture market provides an in-depth analysis of how technology has been instrumental in taking agricultural practices to new heights. The report is titled “Smart Agriculture Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”The report provides a comprehensive evaluation of the global smart agriculture market on the basis of qualitative insights, past performance trends and market size projections. The projections presented in this report have been derived from validated research methodologies and assumptions.
The report segments the global smart agriculture market on the basis of type, application, and geography. By type, hardware, service, and solution are the segments of this market. The hardware segment is further sub-segmented into sensor monitoring systems, global positioning systems (GPS), and smart detection systems. The regional segments of this market are North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America is anticipated to lead the smart agriculture market. The region has a well-founded technology infrastructure combined with the presence of top-notch vendors for both installation and support services.