Smart Agriculture is the application of modern technology in agriculture to increase the quality and quantity of the produce. The smart agriculture market is expected to have a significant market growth driven by the growing adoption of modern technology in agriculture. The increasing demand for agricultural products and government support in order to modernize farming practices is expected to further fuel the market growth. However, the requirement of the high initial investment is expected to be a restraint for market growth. By application, precision agriculture is expected to have a considerable market share due to the high rate of adoption of precision farming techniques. By geography, Asia Pacific is projected to witness multiple growth opportunities owing to the higher economic dependency on agriculture in developing countries like India.
Increasing demand for agricultural products
The requirement of high initial investment
In January 2017, Dickey-John announced the release of the mini GAC@2500, the first and only handheld grain moisture tester built using 149 MHz technology.
In June 2019, Agco Corporation launched Agco Connect, a next-generation telemetry solution for North American customers and dealers to improve productivity, efficiency, and profitability.
The smart agriculture market has been analyzed through the following segments: