Smart
Agriculture
Market:
Key
Players
and
Production
Information analysis The demand for smart technologies such as Big Data, cloud-based services, GPS, and the IoT is gaining pace in the agriculture industry. Driven by the rising need for high precision crop analysis, automated farming techniques, and collection of data from the field, the world is likely to witness the agriculture industry get smarter with the implementation of aforementioned technologies in the coming years. Data thus derived from implementing smart technologies can help farmers yield high quality and larger quantity of crops. Spurred by these factors, the global smart agriculture market is projected to report a CAGR of 13.5% between 2017 and 2025. At this pace, the market’s valuation will rise from US$6.55 bn in 2015 to US$23.44 bn by the end of 2025. Besides rising population, which triggers demand for food, the global smart agriculture market is expected to gain from favorable government initiatives. However, the journey is likely to be more difficult in underdeveloped economy where the agriculture sector is reeling under lack of knowledge among farmers. The high cost of smart devices is making the matter worse. Nevertheless, in the coming years the market is likely to gain from the rising penetration of highspeed internet even in remote areas. Obtain Report Details @ http://www.transparencymarketresearch.com/smart-agriculture-market.html The smart agriculture market is segmented on the basis of solutions, application and geography. Regionally, the global smart agriculture market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, the dominance was with the smart agriculture market in North America, which held over 44.14% of the overall market in 2016. Extensive researches funded by governments across the region to minimize human involvement and boost crop yield has fuelled the demand for smart agriculture technologies in North America. Europe emerged as the second-leading and is expected to continue exhibiting lucrative market opportunities. In the U.K. especially the market is forecast to witness accelerated pace of gains as the government make huge investments in the research and development of robust technologies. Besides this, rate of growth in Italy is predicted to remain high through the forecast period.