Smart Plantation Management System Market is projected to reach USD 1.48 billion by 2026
Published | 03 March 2020
According to BlueWeave
Consulting, the Global Smart Plantation Management System Market is expected to grow
at a significant rate during the forecast period. The Global Smart Plantation
Management System Market is projected to reach USD 1.48 billion by 2026 by growing
at a CAGR of 6.5 % during the forecast period 2020- 2026. The market is growing
owing to various factors.
The increase in the adoption
of plantation intelligence (PI) and data mining and reduction in agricultural
resource waste and manpower, are the primary factors fueling the growth of the
market for smart plantation management systems. The use of smart irrigation
systems conserves approximately 20 percent more water than conventional
irrigation systems, which is one of the critical drivers of the Plantation
Management Systems market.
The software is permitting
farmers to use smartphones or laptops to track and manage their fields, which
removes the need to visit the fields regularly. These factors are expected to
drive the growth of the software segment. In addition, the Smart Plantation
Management Systems market would increase by the government’s support to promote
the Internet of Things (IoT) in farming, unfavorable climatic conditions, raise
environmental concerns, decrease productivity, and reduction of farmland
numbers.
However, the high capital
investment and lack of awareness in the adoption of smart plantation management
systems are expected to hamper the growth of the smart plantation management
systems market.
The
Fruits segment in Crop Type is expected to grow at the highest rate during
Forecast horizon
Based on Crop Type, the
Fruits segment is expected to account for the largest market share during the
forecast period, since fruit has emerged as a vital crop for the use of smart
plantation management systems, given a large number of players offering smart
fruit plantation systems and technologies developed for different fruit types.
Grapes, citrus fruits, and apples are the main fruits where, due to their
higher demand, smart plantation management systems were introduced.
Increasing
adoption of plantation intelligence (PI) and data mining by farmers
The integration of IoT an
advanced technological tools, systems, equipment, and solutions in Planting
Intelligence (PI) and data mining in agriculture offers increased operational
efficiency, optimized yield, and reduced energy waste through real-time field
data collection, data storage, data analysis, and application creation. The
increase in the speed of farming processes are stimulated by several IoT-based
technologies, such as precision farming, monitoring of livestock, smart
greenhouse, and monitoring of fish farms.
Reduction
in the wastage of agricultural resources and manpower
The farm owners are facing a
severe labor shortage, since the working conditions and pay of the workers are
not right, and due to which several crops and agricultural land are
devastating. The erratic weather patterns and insufficient knowledge often
contribute to crop losses. In the form of smart plantation management systems,
this has resulted in more farms finding alternative solutions.
Asia
Pacific is projected to account for the largest market share in the smart
plantation management systems during the forecast period.
By geography, the global
Smart Plantation Management System Market segregated into North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia
Pacific dominated the market for Smart Plantation Management Systems and is
expected to see robust growth due to favorable climatic conditions for crops.
Because of the massive crop production, which includes tea, sugarcane, and
cotton, it has enormous potential. China holds the largest market share due to
the presence of a large crop area, particularly for tea, sugar cane, and fruit.
Smart
Plantation Management System Market: Competitive Landscape
The major market players in
the Global Smart Plantation Management System are Robert Bosch, Deere &
Company, Netafim, Synelixis Solutions, DTN, AgroWebLab Co., Ltd., SemiosBio
Technologies,, WaterBit, Phytech, Tevatronics, Rivulis, Jain Irrigation
Systems, Hidrosoph, AquaSpy, and other Prominent Players are expanding their
presence in the market by implementing various innovations and technologies.
Explore full report with
detailed Table of Contents (TOC), “Global
Smart Plantation Management System Market Size, By Type (Irrigation systems,
Plant growth monitoring systems, and Harvesting systems), By Crop Type (Coffee,
Oilseeds, Sugarcane, Cotton, Fruits, and Others (cocoa, coconuts, areca nuts,
and tea)), By Component (Hardware, and Software) and by Region (North America,
Europe, Asia Pacific, Middle East & Africa and Latin America); Trend
Analysis, Competitive Market Share & Forecast, 2016-26”
At
The in-depth analysis of the
report provides the growth potential, upcoming trends, and statistics of Smart
Plantation Management System market size & forecast. The report promises to
provide state-of-the-art innovations of Smart Plantation Management System
production and industry insights, which help decision-makers to make sound
strategic decisions. Furthermore, the report also analyzes the market drivers,
challenges, and competitive analysis of the market.
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