Smart Agriculture Market 2020-2027 : Size, Share and Forecast Report

Global Smart Agriculture Market was valued at USD 12.9 billion in 2019 which is expected to reach USD 25.12 billion by 2027 at a CAGR 9.5%.

Smart agriculture is the modern technology of farming which includes modern agricultural technologies as well as communication and information technologies to improve the quality and quantity of agricultural products. Smart agriculture is divided into various types such as Fish Farming Monitoring, Smart Greenhouse, Livestock Monitoring, Precision Framing, and Others.

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Market Drivers

Increase in need of livestock health and performance monitoring is the key driving factor which is expected to boost the global smart agriculture market growth. Furthermore, rise in government initiatives in adoption and development of modern agricultural technologies will have the positive impact on global smart agriculture market growth. Moreover, increase in demand for food across the world which is expected to propel the global smart agriculture market growth. Also, increase in technological advancements will fuel the global smart agriculture market growth. For Instance, in December 2019, XAG had launched farm robots and smart agriculture management system for agricultural development.

Market Restraints

However, lack of awareness regarding technology in developing countries is the major restraining factor which is expected to hamper the global smart agriculture market growth. Also, high cost regarding use of smart devices will affect the global smart agriculture market growth.

Market Key Players

Various key players are discussed in this report such as LUMIGROW, HELIOSPECTRA, INNOVASEA SYSTEMS, AKVA GROUP, AFIMILK LTD., ANTELLIQ, DELAVAL, TOPCON POSITIONING SYSTEMS, TRIMBLE, and DEERE & COMPANY

Market Taxonomy

By Type

Fish Farming Monitoring
Smart Greenhouse
Livestock Monitoring
Precision Framing
Others

By Offering

Hardware
Software
Services

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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