Industry Background:
Smart agriculture tool is a tool which helps a farmer to access the farm from hand tool and power tools to tractor and have countless kinds of farm implement. There are various smart agriculture tools used in farming which results in improving farm efficiency and helps farmers to maximise their crop yield.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Deere & Company (United States), AGCO (United States), AgJunction (United States), Raven Industries (United States), AG Leader Technology (United States), DeLaval (Sweden), GEA Group (Germany), Precision Planting (United States), SST Development Group (United States), Teejet Technologies (United States), Topcon Positioning Systems (United States), DICKEY-john Corporation (United States), CropMetrics (United States), Agribotix (United States), The Climate Corporation (United States), ec2ce (Spain) and Descartes Labs (United States) |
According to AMA, the market for Smart Agriculture Tools is expected to register a CAGR of 6.6% during the forecast period to 2030. This growth is primarily driven by Increasing Adoption of Internet of Things (IoT) and Artificial Intelligence (AI) By Farmers and Growers, Growing Demand for Agricultural Production Owing to Increasing Population and Governments’ Support to Adopt Modern Agricultural Techniques.
Globally, a noticeable market trend is evident Technology Advancement In Agriculture Tool The Electronic Equipment & Instruments sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Deere & Company (United States), AGCO (United States), AgJunction (United States), Raven Industries (United States), AG Leader Technology (United States), DeLaval (Sweden), GEA Group (Germany), Precision Planting (United States), SST Development Group (United States), Teejet Technologies (United States), Topcon Positioning Systems (United States), DICKEY-john Corporation (United States), CropMetrics (United States), Agribotix (United States), The Climate Corporation (United States), ec2ce (Spain) and Descartes Labs (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Industry players are engaging in numerous inorganic growth strategies, such as frequent mergers and acquisitions, in their endeavor to expand their product portfolio. Key market players are aggressively establishing partnerships and collaborations to strengthen their market presence and customer base.
Key Developments in the Market:
In April 2021, AGCO Corporation in a strategic partnership with EZ-Drops, an innovative agricultural equipment manufacturer, to provide AGCO’s dealers in North America with access to a new nutrient supply system. The nutrient application system is available at AGCO’s RoGator dealers with customized configurations. and In November 2020, Ag Leader Technology upgraded its InCommand displays and added built-in-house SteerCommand Z2 and SteadySteer to its SteerCommand product portfolio. These products provide end-users with a single user interface that steers and controls all farming equipment.
In Jan 2018, Raven industry partnered with South Dakota State University (SDSU) for the establishment of a smart agriculture facility in the SDSU campus. and John Deere launched Intelligent Boom Control (IBC) for 1270G harvesters in North America. IBC provides operators with increased accuracy and productivity—bringing harvester capabilities to a whole new level.
Regulatory Insights:
The role of climate-smart agriculture stakeholders - The decisions that men and women farmers, fisherfolk, pastoralists, and foresters make regarding the adoption of locally adapted climate-smart agriculture practices and production systems are informed and influenced by a range of factors, including the need to provide for the family, available risk management tools, their level of knowledge, and their access to inputs, financing, and markets.
Influencing Trend:
Technology Advancement In Agriculture Tool
Market Growth Drivers:
Increasing Adoption of Internet of Things (IoT) and Artificial Intelligence (AI) By Farmers and Growers, Growing Demand for Agricultural Production Owing to Increasing Population and Governments’ Support to Adopt Modern Agricultural Techniques
Challenges:
Lack of Standardization in the Smart Agriculture Industry
Restraints:
High Cost, Limited Technical Knowledge and Skills of Farmers
Opportunities:
Advent of Big Data in Agriculture Farm
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Smart Agriculture Tools Market
- Analysis about New Entrants in Smart Agriculture Tools Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Smart Agriculture Tools Study Sheds Light on
The Smart Agriculture Tools Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Agriculture Tools industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Agriculture Tools industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.