The global Smart Agriculture Market size is anticipated to reach USD 29.18 Billion by 2028, expanding at a CAGR of 10.6%, according to a new report by Grand View Research, Inc. Factors such as consistent growth in population, low availability of cultivable land, government incentives, and demand for fresh and high-quality food are expected to drive the smart greenhouse market. According to World Health Organization (WHO) and Population Council, 80% of the global population resides in urban cities. The prevailing scarcity of land in urban cities has urged growers to adopt new solutions for developing fresh produces. For instance, the vertical farming technique enables consumers to grow crops indoor in layers, in a multi-story building, stacked on racks, or in a warehouse.
The growing population is expected to result in an
increased food demand by 2050. Farmers are likely to witness immense pressure
in increasing crop production either by making more land available to grow
crops or adopting newer techniques, such as smart agriculture and vertical
farming. Traditional farming techniques witness several barriers such as
climate change, high labor cost. These disadvantages can be overcome with the
use of technologies such as LED indoor farming, which creates a nature-like
condition to help farmers meet the swelling food demand. Additionally, the
changing preference of consumers toward healthier and fresh foods is expected
to drive market growth over the forecast period.
Agri M2M offers significant opportunities to mobile
operators owing to its potential to generate additional revenue through
value-added services. For instance, bundling M2M services with a voice or data
offering for rural enterprise customers is likely to enhance the application of
M2M.
Agri VAS has been developed to overcome the information
gap faced by farmers in emerging markets such as China and India. Additionally,
it also helps in connecting the cultivators with other key players in the
agriculture supply chain. Agriculture Value Added Services (VAS) have increased
over the past few years owing to their rising awareness among VAS providers,
mobile operators, and farmers. A few types of M2M connectivity include cellular
M2M, satellite & fixed network, power line, and short range connections
such as Wi-Fi, Ethernet, and ZigBee.
Related Press
Release@ Smart
Agriculture Market Report
Smart Agriculture Market Report Highlights
- The
growing trend of producing biopharmaceutical products under a controlled
environment is expected to drive the smart greenhouse market demand over
the projected period.
- The
software segment is expected to portray the highest growth rate,
registering a CAGR of 16.7% over the forecast period.
- The
LED grow light segment is anticipated to witness a considerable growth
rate over the forecast period.
- The
indoor farming technique makes use of LED to create natural surroundings
for growing vegetables and herbs.
- The
advent of modern agriculture technology along with the flexible pricing of
connected devices is likely to influence the South American regional
market demand.
- Various
organizations are investing heavily in R&D to offer efficient and
low-cost solutions to consumers.
- Key
players in the smart agriculture market include CropMetrics LLC
(U.S.), Drone Deploy (U.S.), DeLaval International AB (Sweden), DICKEY-john
Corporation (U.S.), and Farmers Edge, Inc. (Canada), among others.
About Us:
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in San Francisco. The company provides syndicated research reports, customized
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relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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