Global Smart Agriculture Market is Expected to Reach $20 Billion 2024, Says Variant

Market Research
Global Smart Agriculture Market Report, published by Variant Market Research, forecast that the
global market is expected to reach $20 billion by 2024 from $7 billion in 2016; growing at a CAGR
of 14.1% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a
CAGR of 15.6% and 15%, respectively, during the forecast period. According to the United
Nations Food and Agriculture Organization, about 795 million people out of 7.3 billion people in
the world were suffering from chronic undernourishment in 2014 - 2016. Almost all the hungry
people, about 780 million people live in developing countries and 11 million people
undernourished in developed countries. Smart agriculture helps to guide actions needed to
transform agriculture systems to efficiently support the development and ensure food security.
Smart farming has good potential to deliver more productive and sustainable agricultural
products with resource efficient approach. Moreover, introduction of IoT applications have
increased the quality, quantity, sustainability and cost effectiveness of agricultural products.
Robotics, artificial intelligence and automatic control at all the levels of agriculture have boosted
the production in a great way.
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Increasing population coupled with rising global demand for food and technological
advancements are supporting the growth of the global smart agriculture market. Increasing need
for automated farming techniques and greenhouse agriculture also fuels the growth of the
market. Rising awareness among farmers in emerging economies and entry for new players
would provide growth opportunities during the forecast period. However, lack of technical
knowledge and high cost of smart devices or machines may hinder the growth of the market.

The global smart agriculture market has been categorized into solutions, application and
geography. Solution segment include agriculture asset management, network management,
supervisory control & data acquisition, smart water management, logistics & supply chain
management, and others. Furthermore, application segment is bifurcated into livestock
monitoring, precision agriculture, fish farming, smart greenhouse and others.

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The key players in the smart agriculture market include Raven Industries Inc., Deere & Co.,
Trimble Navigation Ltd., AGCO Corporation, AgJunction Inc., SST Development Group, Inc.,
Hexagon AB, Iteris Inc., Teejet Technologies and Cisco Systems, among others.

Scope of Smart Agriculture Market

Solution Segments

Agriculture Asset Management

Network Management
 Supervisory Control & Data Acquisition
Smart Water Management
Logistics & Supply Chain Management
Others

Application Segments

Livestock Monitoring
Precision Agriculture
Smart Greenhouse
Fish Farming
Others

Geography Segments

North America
o US
o Canada
o Mexico
Europe
o U.K.
o Germany
o Italy
o France
o Others
Asia-Pacific
o China
o Japan
o India
o Others
RoW
o South America
o Middle East
o Africa
Table Of Content
Chapter 1. Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2. Executive Summary
Chapter 3. Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Companys Competitive Scenario
3.3 Value Chain Analysis
3.4 Market Dynamics
3.4.1 Drivers
3.4.1.1 Impact Analysis
3.4.2 Restraints
3.4.2.1 Impact Analysis
3.4.3 Opportunities
3.5 Porters five forces analysis
3.5.1 Factors Impact Analysis
.

Chapter 7. Company Profiles

7.1 Raven Industries Inc.
7.2 Deere & Co.
7.3 Trimble Navigation Ltd.
7.4 AGCO Corporation
7.5 AgJunction Inc.
7.6 SST Development Group, Inc.
7.7 Hexagon AB
7.8 Iteris Inc
7.9 Teejet Technologies
7.10 Cisco Systems
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