Market Research News Smart Agriculture Solution Market Future Outlook

Smart Agriculture Solution: Growth by Increasing Penetration of
Internet of Things in Agriculture
The report titled “Smart Agriculture Solution Market: Global Demand
Analysis & Opportunity Outlook 2024” delivers detailed overview of the
global smart agriculture solution market in terms of market segmentation by
component, by solution and by region.
The global smart agriculture solution market is segmented into component
solution and region. Component segment is further sub-segmented into hardware,
software & services and others. Likely, hardware segment accounted for major
share of overall smart agriculture solution and is expected to witness significant
growth during the forecast period. Rise in demand for GPS enabled devices and
agricultural drones are also the major factors which are likely to allow hardware
segment to continue its dominance over the forecast period.
Global smart agriculture solution market is anticipated to grow at a robust
compound annual growth rate (CAGR) of 11.5% during the forecast period. The
global Smart Agriculture Solution Market stood at revenue of around USD 10.2
Billion in 2016 and is projected to reach at a valuation of USD 38.1 Billion by the
end of 2024. Further, growing adoption of smart agricultural machineries and
increasing investment by leading players in order to help farmers to boost their
farm yield are some of major factors which are likely to fuel the growth of global
agriculture solution market.
The automated machinery guidance control segment by solution is anticipated to
witness remarkable growth during the forecast period. Rising need to guide smart
agricultural machineries in crop fields is likely to boost the growth of smart
agriculture segment in near future.
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Technological advancements in agriculture sector
Growing adoption of advanced technology in farming such as agricultural drones,
sensors and climate monitoring system is a key factor which has led the leading
players to invest high in technological advancement of smart agriculture solution.
Furthermore, growing providence of data services to the farmers in order to