Smart plantation management system market is anticipated to grow at a CAGR of 5.9% during the forecast period. The increasing reliance of the agricultural sector on cloud computing, IoT technology, agricultural sensors, smart irrigation systems, and machine learning is expected to create a favourable environment for the smart plantation management systems industry. The advent of hyper-spectral imaging, 3D laser scanning, and drone-based imaging sensors interconnected through cloud platforms are expected to result in higher penetration of plantation intelligence and subsequently facilitate the implementation of smart plantation management systems across the globe.For instance, in august 2021,AeroFarms and Nokia Bell Labs unveiled a groundbreaking multi-year partnership to combine their expertise and expand their joint capabilities in cutting-edge networking, autonomous systems, and integrated machine vision and machine learning technologies to identify and track plant interactions at the most advanced levels. Nokia Bell Labs, contributes its groundbreaking autonomous drone control and orchestration systems, private wireless networks, robust image, and sensor data pipelines, and innovative artificial intelligence (AI) enabled mobile sensor technologies, that allow AeroFarms to reach the next level of imaging insights and enhanced its capabilities as akey industry operator.
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Among the components, the software segment is expected to grow at a favorableCAGR over the forecast period, owing to an increase in demand for smart agriculture and IoT in the agriculture sector, along with an up surge in requirement for food and related products to meet the rising demand of the growing population. According to the UN Food and Agriculture Organization projections, the nation will need to produce 70% more food by 2050. Moreover, software-based smart farming on IoT technologies allows farmers and growers to minimize waste and improve productivity. For instance, according to a BI Intelligence survey, the adoption of IoT devices in the agriculture business reached 75 million in 2020, expanding at a rate of 20% each year. Simultaneously, the global smart agricultural market is predicted to treble in size by 2025, to $15.3 billion.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Plantation Management System Market Report Segment
By Type
- Irrigation Systems
- Plant Growth Monitoring Systems
- Harvesting Systems
By Crop
- Coffee
- Oilseeds
- Sugarcane
- Cotton
- Others
By Component
- Hardware
- Software
Global Smart Plantation Management System Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart plantation management systemmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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