Smart agriculture is quite a new concept and most farmers
aren't even aware of what it stands for. The term smart agriculture actually
refers to the use of modern technologies such as the Internet of Things (IoT),
sensors, place systems, digital devices, robots and artificial intelligent
software in your agricultural field. These technologies enable you to automate
your farming activities making your farm more productive, efficient and
profitable. Smart agriculture helps the environment by reducing the use of
traditional agricultural chemicals.
Market Dynamics
Launch of smart agriculture training programs is expected to
propel growth of the global smart agriculture market. For instance, in December 2020, the International
Organization for Migration, with funding from the Foreign, Commonwealth and
Development Office, launched the Climate Smart Agriculture and nutritional
garden training program for migrant returnees in Zimbabwe. Moreover, decreasing productivity of traditional
crops and less effective practiced farming technologies due to climate
volatilities is also expected to aid in growth of the market.
Initiatives to deploy smart agriculture solutions in
emerging economies is expected to offer lucrative growth opportunities for
players in the global smart agriculture market. For instance, in December 2020,
Vodafone India Foundation, Vodafone Idea Ltd.’s corporate social responsibility
arm, partnered with Nokia to deploy a smart agriculture solution to improve the
productivity of farmers in India. Moreover, investment for R&D in farm
management and predictive analytics solutions is also expected to aid in growth
of the market. For instance, in January 2021, CropIn, an artificial
intelligence and data-led agri-tech organization, raised US$ 20 million in a
Series C funding round led by ABC World Asia, an Asia-focused private equity
fund, for R&D in farm management and predictive analytics solutions.
Among regions, the Middle East is expected to witness
significant growth in the global smart agriculture market, owing to increasing
investment in implementation of smart agriculture in the region. For instance,
in January 2021, The Ministry of Agriculture, Fisheries and Water Resources,
Oman, signed an agreement to lease 100 acres with the Agricultural and Fisheries
Development Company to invest and implement the smart agriculture project in
the Wilayat of Al Kamil Wa Al Wafi.
Competitive Analysis
Major players operating in the global smart agriculture
market include, Dirt Road Data, Inc., AgJunction LLC, Iteris, Inc.,
Site-Specific Technology Development Group, Inc., CropMetrics LLC, Trimble
Navigation Ltd., Agribotix LLC, AgEagle Aerial Systems Inc., Granular, Inc.,
AgriSight, Inc., and SemiosBio Technologies Inc.
Major players in the global smart agriculture market are
focused on adopting collaboration and partnership strategies to enhance their market
share. For instance, in December 2020, AgJunction Inc. signed a supply
agreement with a new Dutch OEM customer, Ploeger Oxbo Group BV to provide auto
steering systems for their CM4240 self-propelled silage merging device.
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