The market of agriculture comprises of sales of animal and crop establishment and other support services by the entities that produce animal produce, rural activities, and crops. The agriculture involves the cultivation of plants, and animals and bird rearing for the food, fabrics, medicinal, bio-fuel and several other products utilized to sustain and improve human life. This market also includes horticulture and aquaculture whereas, excludes the proceeds from the incarcerated consumption of the agriculture and forest produce for further handling. Moreover, the smart producers keep micro and macro transformations in their mind’s eye due to it enables them to remain competitive.
Furthermore, the private sector and government authorities of the respective region are likely to invest the handsome amount of money in the infrastructure and technology enablement of areas such as traceability, logistics, quality, and distribution. According to the report analysis, ‘Agriculture Global Market Report 2019’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and registering the high value of market share across the globe throughout the short span of time while adopting the advanced strategies and policies of doing work and increasing the work efficiency power while delivering a better incentive to the employees and augmenting the efficiency of the production includes Cargill, JBS S.A., Tyson Foods and several others.
Additionally, the sector of agriculture has observed the infusion of digital intervention. Many of the stakeholders comprehend that the next growth curve for agriculture can be attained through digital innovations in the segment. It can change the whole input supply chain, crop management cycle, storage, and market access.
The Asia Pacific region was the largest region in the global agriculture market, accounting for 54% of the market in 2018. North America economy was the second largest region registering for 11% of the global agriculture market. For instance, the Eastern Europe region was the smallest region accounting for 4% of the market.
The deficiency of labor and augmenting the requirement for the advanced agriculture tools in many regions is fostering the requirement for agriculture robots or agribots. Agribots are utilized in farmlands for pruning, weeding and spraying pesticides and herbicides. They are associated with tractors for spraying water, seeds, pesticides, nutrients and harvesting. Meanwhile, the Energi Citrus Picking Robot System elites an orange every two seconds from a tree, thus improving the productivity and thereby preventing the requirement for agricultural labor.
Not only has this, but drones are also being utilized for crop monitoring extensively across the U.S. as a resource to combat a deficiency and other destructive environmental factors. Drones that introduce the 3D imaging can be utilized to anticipate the soil quality through analysis and planning seed planting patterns. Drones are also being utilized to spray chemicals on the crops while being suspicious not to infiltrate the groundwater. Furthermore, it is anticipated that the market of agriculture will increase more significantly with more innovations in the technology for decreasing the cost of production and increasing productivity over the decades.
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Global Smart Agriculture Market Size study, by Offering (Hardware, Software, Services), by Agriculture Type (Precision Monitoring, Livestock Monitoring, Smart Greenhouse, Fish Farm Monitoring), and by Regional Forecasts 2018-2025
Ankur Gupta, Head Marketing & Communications