Growing necessity for advanced farming solutions owing to volatile climatic conditions is anticipated to propel the demand for smart agriculture/farming. Such advanced farming techniques can offer high-quality food products. In addition, the lack of cultivable land owing to rise in pollution may also impel the demand for smart solutions in farming. These solutions have a wide range of applications in livestock monitoring, precision farming, and smart greenhouse applications such as HVAC management and yield monitoring.
Cloud-Based Software to Support Shrimp Farmers
Major offering-variants of smart agriculture/farming are software, hardware, and services. In the coming years, software segment is expected to witness the maximum growth owing to its real-time information support. It is estimated to grow at a CAGR of 16.7% over the forecast period (from 2018 to 2025). Most companies offering smart farming solutions focus on introducing innovative software. For instance, Cargill recently launched new cloud-based software called iQShrimp that uses the Machine Learning (ML) technology and sensors to support shrimp farmers. This software offers real-time information to farmers regarding weather condition and disease risks. It collects data about water quality, feeding patterns, etc. directly from the shrimp ponds using mobile devices, automated feeders, and sensors.
The hardware segment is anticipated to exhibit a steady expansion over the next few years. Rising need to reduce labor costs while improving overall productivity in the dairy sector has resulted in increasing automation of raw material production. This factor is projected to augment the demand for milking robots, one of the sub-segments of hardware segment, over the coming years. On the other hand, the drone sub-segment of hardware is estimated to witness the maximum growth during the forecast years.
Market Insights
The smart agriculture/farming market is likely to reach USD 18.21 billion by 2025, according to a report by Grand View Research, Inc. Growing demand for safe and quality food products owing to rising health awareness can fuel market growth. Inclination of farmers from traditional lighting system towards Light Emitting Diode (LED) due to their simple integration into Controlled Environment Agriculture CEA setup can stimulate the market development.
Increased automation in commercial greenhouses to obtain high-quality crop yield is also anticipated to impel market growth. High adoption of CEA concept in farming to improve crop yield may also propel market expansion during the forecast period. Leading companies offering smart agriculture/farming techniques are Autonomous Solutions, Inc.; Argus Control Systems Ltd.; CNH Industrial; Agribotix LLC; and CLAAS.
In-Depth Research Report On Smart Agriculture/Farming Market:
https://www.grandviewresearch.com/industry-analysis/smart-agriculture-farming-market
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