The smart agriculture market is expected to grow from USD 12.9 billion in 2021 to USD 20.8 billion by 2026; it is expected to grow at a CAGR of 10.1 % during the forecast period. Precision farming, livestock monitoring and precision aquaculture are the key applications that dominate the smart agriculture market and also contribute significantly to its growth.
Major players in the smart agriculture market have primarily adopted agreement and partnership strategies to strengthen their position in the market.
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John Deere (US) and Trimble (US) are among the major players in the smart agriculture market.
John Deere has a strong brand name and a well-established distribution network providing efficient smart agriculture solutions. The company is engaged in acquisitions, product launches, and developments as key business strategies to grow in the precision farming market. In September 2018, John Deere acquired PLA (Argentina) to provide innovative, cost-effective equipment, technologies, and services, enabling its customers to improve crop productivity. The company has been upgrading its products regularly and launched an updated version of ExactRate in March 2021. It is an on-planter system that fertilizes new crops twice the previous speed and reduces the number of refills needed for fertilizer tanks during planting. Similarly, in June 2019, the company upgraded its Model Year 2020 S700 Series Combines to improve automation, data management, and residue placement. It is also collaborating with leading industry players to strengthen its position in the smart agriculture market.
Trimble is one of the key players in the smart agriculture market solutions that solve complex technology challenges across the entire agricultural landscape under its “agriculture” division. These solutions enable farmers and advisors to allocate scarce resources to produce a safe and reliable food supply profitable and environmentally sustainable. The company offers a wide range of products and services in the smart agriculture market launched advanced products between January 2018 and April 2019. For example, in 2019, the company introduced Farmer Core, a new entry-level Trimble Ag Software subscription that enables farmers to connect all aspects of their farm operations. In 2018, Trimble Ag Software was upgraded with added features such as crop health imagery and work orders. The company can explore new opportunities in developing countries such as China, India, Brazil, and Chile through partnerships with local distributors and companies offering precision farming tools.
Smart Agriculture Market with COVID-19 impact analysis by Offering, Agriculture Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse ), Application, Farm Size, & Geography – Global Forecast to 2026
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