Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global smart plantation management system market is projected to propel due to the surge in the adoption of plantation intelligence and data mining by farmers and the advent of big data in agriculture farms
The global smart plantation management system market size was valued at USD 1.45 billion in 2019 and expected to generate USD 1.74 billion by 2027, with a CAGR of over 2.30%, during the forecast period, 2020-2027. It is primarily attributed to the increasing adoption of new technologies like cloud computing and IoT and the introduction of the robotic system. Additionally, the large-scale use of the Internet of Things and various techniques, coupled with increasing government financial support for smart agriculture, will expand the market for smart plantation management systems. A large number of smart sensors and smart systems that are widely interconnected through internet and cloud platforms have introduced advanced technologies such as the Internet of Things (IoT) into planted forest systems. Further, the site's specific weather forecasts, probability maps for disease, yield projections, and disasters-based information allowing cultivation of crops optimally will accelerate the growth of the market.
Moreover, the growing application of cognitive computing in agricultural services to cope with different situations; thereby, these factors are increasing the efficiency of agricultural output. These factors are anticipated to trigger the global smart plantation management system market share in the upcoming periods. Furthermore, the surge in demand for technologies like supply chain farm robotics, machine learning, blockchain and remote sensing in plant management systems to provide information regarding waste reduction, environmental sustainability, soil optimization, and analysis of agriculture facts are estimated to boom the expansion of smart plantation management system industry. The open-source platforms with solutions are affordable to farmers, thereby rapidly adopting and increasing plantation intelligence penetration. The Agricultural Internet of Things technology is an extension of IoT technology, which can help humans improve their ability to regulate agricultural systems and respond to emergencies.
Components Overview in the Global Smart Plantation Management System Market
Based on the component, the global smart plantation management system market bifurcates into hardware and software. The hardware will be the fastest-growing segment in the forecast period. It is attributable to the surge in demand for hardware systems like sensors and GPS to sense and collect real-time data for generating reports and maps to support farmers in making decisions about their crops. These sensors are soil, water, weather, moisture, wind intensity, and temperature sensors.
Type Overview in the Global Smart Plantation Management System Market
Based on the type, the global smart plantation management system market segregated into irrigation systems, plant growth monitoring systems, and harvesting systems. The irrigation systems held for the highest revenue in 2019. Due to increasing government initiatives to promote water conservation, irrigation systems help reduce the amount of water needed for irrigation, resulting in the reduction of operation cost, specifically for vast farmland.
Crop Overview in the Global Smart Plantation Management System Market
Based on the crop, the global smart plantation management system market segmented into coffee, oilseeds, sugarcane, fruits, cotton, and others. The fruits segment accounted for a larger market share in 2019 and projected to lead the market by 2027. Due to the smart plantation management system help in technologies developed for different types of fruits.
Regional Overview in the Global Smart Plantation Management System Market
By geography, the global smart plantation management system market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific accounted for the maximum revenue share in 2019. It is due to the large arable land area in emerging economies in particular in China & India, the introduction of industrialization, digital agriculture, mechanization of production processes, and data management.
Global Smart plantation management system Market: Competitive Landscape
Companies such as Robert Bosch, Netafim, Deere & Company, Synelixis Solutions, DTN, SemiosBio Technologies, AgroWebLab Co., Ltd, WaterBit, Phytech, Tevatronics, Rivulis, Jain Irrigation Systems, Hidrosoph, AG Leader Technology, Teejet Technologies, AquaSpy, and Crop Metrics are the key players in the global smart plantation management system market.