Growing at a CAGR of 13.8%, the smart agriculture market is estimated to reach USD 18.45 billion by 2022, says a market report.
The new market research report "Smart Agriculture Market by Hardware and Network Platform (GPS/GNSS Devices, Sensor Monitoring Systems, and Smart Detection Systems/Network Elements), Service, Software, Application, and Geography – Global Forecast to 2022" is published by MarketsandMarkets. The factors which are driving the Smart agriculture market include the increasing adoption of technology in agriculture, global increase in the food demand, and assistance in monitoring livestock performance and health.
Sensor monitoring system expected to lead the smart agriculture market by hardware and network platform
The market for sensor monitoring systems is expected to hold the largest share of the smart agriculture market by 2022. Sensor monitoring system is used in yield monitors, soil sensors, water sensors, climate sensor, and others. It is used to collect information of crops, yield, livestock, fisheries, and others for the purpose of analysis and effective decision-making.
System integrators dominate the smart agriculture market by service
The market for system integrators dominated the Smart agriculture market on the basis of services in 2015. This is mainly because of the important role it plays in the integration of the software and hardware equipment. It helps in troubleshooting and diagnosing farm management solutions, which also involves developing new concepts related to software and hardware equipment.
North America dominated the global smart agriculture market in 2015
North America dominated the global smart agriculture market in 2015. North America is one of the pioneers for precision farming operations and the adoption of precision farming in the region is boosted by factors such as continuous advancements in technology, reducing price of equipment, usage of social media and online publications for spreading awareness, and so on.