As per FMI, Australia is among the top 4 exporters of smart agriculture solutions across the globe. Growth in the country is driven by increasing adoption of automation in agriculture sector in Australia.
The worldwide smart agricultural solution market will develop at a CAGR of 10.3 percent over the projected period, according to a study by Future Market Insights (FMI). By the end of 2031, global sales of smart agriculture solution market are expected to exceed US$ 13.2 billion.
Market expansion will be fueled by the implementation of sophisticated technologies such as artificial intelligence in drones to boost agricultural productivity.
The expansion of the agriculture industry in India, Australia, and China is a significant element driving demand for advanced agricultural technologies including sensor-based variable rate technology.
Request a Sample of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-939
Between 2016 and 2020, the worldwide smart agricultural solution market increased at a CAGR of 5.7 percent. Sales of smart agriculture solutions increased by 4.6 percent in 2021, thanks to the introduction of precision farming and the use of agriculture 5.0 technology.
The demand for sensor-based and map-based solutions will increase as precision farming and smart greenhouses become more popular. According to FMI, the worldwide smart agricultural solution would expand 6.8% year over year in 2021.
FMI’s Smart Agriculture Solution Market Study Highlights
Competitive Landscape
As per the study, key players operating in the smart agriculture solution market are investing in developing modern and smart agriculture products such as smart aerial drones to gain competitive edge.
Some of the players are focusing on introducing new products and forming strategic partnerships with local agricultural product providers to expand their consumer base. For Ex:
Why is the Demand for Smart Agriculture Solution Hardware Increasing?
As per the study, the hardware sub-segment of the component segment in smart agriculture solution market is expected to account for more than 50% of global market share. Increasing adoption of drones in agricultural activities to improve the crop productivity is the major factor driving the growth in the segment.
Also, integration of smartphones and adoption of artificial intelligence in sensor monitoring system and GPS enabled ranging system to monitor and manage the farm in precision farming will boost growth in the segment.
Due to the surging demand for automation in precision farming, smart agriculture solution providers are introducing new products such as drones with GPS and aerial-climate detection to expand their customer base.
For instance, in November 2021, XAG, leading agriculture robotics and AI-powered smart agriculture solution provider, launched its V40 and P40 Agricultural Autonomous Drone, that can conduct mapping, spraying, and broadcast on farm, supporting farmers' transition to climate smart practices and reducing carbon footprints.
Feel free to Ask your Queries @
https://www.futuremarketinsights.com/ask-question/rep-gb-939
Smart Agriculture Solution Market by Category
Component Type:
Application:
Region
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Smart Agriculture Solution Market , Smart Agriculture Solution Market Size , Smart Agriculture Solution Market Trend , Smart Agriculture Solution Market Forecast
Sep 01, 2022