Smart Agriculture Market Showing Impressive Growth by 2031

Smart Agriculture Market

Smart Agriculture Market is expected to exceed the value of US$ 39.02 Bn by the end of 2031

WILMINGTON, DELAWARE, USA, July 26, 2022 /EINPresswire.com/ — Smart agriculture has been offering rapid transformation in terms of products and services offered by the agriculture sector over the past few years. The adoption of advance technologies such as cloud and artificial intelligence (AI) in agriculture to provide real time assistance to farmers is expected to propel the growth of the smart agriculture market during the forecast period. However, lack of connected devices used in the agriculture sector creates disruptions in communication between the developer and farmer. The fragmented agriculture sector negatively impacts the growth of the smart agriculture market.

Smart Agriculture Market: Prominent Regions

North America is expected to account for the largest share of the smart agriculture market during the forecast period due to rise in number of agricultural start-ups in the U.S. and Canada that helps to deliver better customer experiences. Another factor responsible for the dominance of North America is the presence of major smart agriculture market players in the region. Hence, North America is fueling the growth of the smart agriculture market.

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The market in Asia Pacific is likely to expand at the highest CAGR during the forecast period due to increasing investments by governments to introduce automation in the agriculture sector through technology innovations in different countries such as India, China, and Japan to improve agriculture productivity. Hence, demand for smart agriculture is expected to grow in the region during the forecast period. The smart agriculture market in Europe is anticipated to rise at a significant CAGR during the forecast period. The increasing demand for advance equipment and automation products helps farmers earn significant profit from the agriculture sector.

Smart Agriculture Market: Key Players

Key players operating in the global smart agriculture market are Deere & Company, AGCO Corporation

InnovaSea Systems
Trimble Inc.
Huawei Technologies Co. Ltd.
Topcon Positioning Systems
Semiosbio Technologies Inc.
Afimilk Ltd
Aker Technologies
Antelliq
Cisco Systems Inc.

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Companies in the smart agriculture market are taking advantage of government stimulus packages and schemes from the BFSI sector to stay financially afloat amid ongoing COVID-19 crisis. However, lack of connected devices used in the agriculture sector and fragmented nature of the agriculture industry in India is inhibiting market growth. Hence, market stakeholders should form focus groups and provide training to farmers to minimize the technology gap in the agriculture community whilst increasing communication between developers and farmers. In addition, rising adoption of the IoT technology in the agricultural sector helps to improve the responsive ability of farmers to any significant change in weather, humidity, and air efficiency.

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Article originally published on www.einpresswire.com as Smart Agriculture Market Showing Impressive Growth by 2031