Smart Agriculture Market is valued $1380.5 million in the year 2017 and is anticipated to grow with a CAGR of 4.4% from the year 2018 to 2023. Smart agriculture market is segmented based on the components in which sensors is having the highest market share, followed by transceivers which are valued $308.3 and $211.7 million in the year 2017 and is expected to grow with a CAGR of 5.5% and 5.2% during 2018 to 2023.
Smart agriculture is the process of performing the agricultural activities using advanced technologies. This smart agriculture is the innovative way of carrying out the agricultural activities by reducing the human efforts and by making maximum utilization of the resources which are available. Smart agriculture includes the agricultural activities with the adoption of internet of thing (IoT), sensors in order to increase the productivity of the farm.
The major applications of smart agriculture includes yield monitoring, water management, irrigation control and planting and seeding. The application of smart agriculture in yield monitoring will help the person to map and record crop yield and moisture data in real time to instantly understand how well the crop performed.
Market Research and Market Trends of Smart Agriculture Market:
- To monitor and manage the farm from anywhere the launch of a new product called irrigate IQ which could help to monitor the farm well from anywhere using computer, smart phone or tablet. By using this product the person can monitor the pivot speed, status (on/off), current voltage and pressure. The authorized person will receive a text message when a pivots status is changed.
- To save the farmers time and money companies are experimenting with high-technology tools, while reducing environment-harming chemicals. Companies are developing a robot equipped with AI and cameras to identify all plants in the farm. The robot has four wheels to carry camera through the fields in search of weeds. Computer controlled arms then lower and spray the weeds with small amount of herbicides.
Who are the Major Players in Smart Agriculture Market?
The companies referred in the market research report includes Cisco, Deere & Company, Trimble Navigation Limited, Raven Industries, Inc. Semiosbio Technologies Inc. and more than 10 other companies.
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