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Americas Smart Farming Market: Focus on Solutions (Hardware Systems, Software, Services) and Applications (Precision Crop Farming, Livestock Monitoring and Management, Indoor Farming and Aquaculture)–Analysis & Forecast 2018-2023

Americas Smart Farming Market: Focus on Solutions (Hardware Systems, Software, Services) and Applications (Precision Crop Farming, Livestock Monitoring and Management, Indoor Farming and Aquaculture)–Analysis & Forecast 2018-2023

  • August 2018
  • 195 pages
  • ID: 5492708
  • Format: PDF
  • By BIS Research


Table of Contents

Americas Smart Farming Market Anticipated to Reach $11.93 billion by 2023, BIS Research Report

Over the last decade, the Americas agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices.Rising population and high-income growth have resulted in growing concerns of food security across the region.

Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems.With the rapid employment of smart farming solutions, farmers are able to enhance the production yield by increasing inputs and efficient management of farm enterprises.

The advent of innovative farm management techniques has resulted in reduced energy consumption and overall cost-effective operations owing to the software’s more precise and resource-efficient approach. As a result, the smart farming industry is anticipated to progress due to the ever-growing affinity for more convenient and smart farming solutions than the traditional methods.

The market research study offers a wide perspective of the different types of solutions and applications pertaining to the Americas smart farming market and analyzes their impact on the farming sector of the region by providing critical insights into the direction of the market’s future expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

The report answers the following questions about the Americas smart farming market:
• What is the Americas smart farming market size in terms of revenue along with the growth rate during the forecast period 2018-2023?
• What is the revenue generated by the different smart farming solutions such as hardware systems, software, and services?
• What are the major types of applications in the smart farming market in terms of revenue generation and future growth?
• What is the anticipated market size for different countries based on various solutions and applications during the forecast period?
• How attractive is the smart farming market for different stakeholders present in the industry as per the analysis of the complete supply chain?
• What are the major driving forces that are expected to increase the demand for smart farming during the forecast period?
• What are the major challenges inhibiting the growth of the market?
• What are the upcoming trends and opportunities in this market?
• What kinds of new strategies are adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the Americas smart farming market in terms of their recent developments, product offerings, and country presence?

The report includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry.The report also focuses on the key developments and investments made in the Americas smart farming market by the players and the government.

Further, the report includes an exhaustive analysis of all the leading countries in the region. AGCO Corporation, CNH Industrial, Deere and Company, Hexagon Agriculture, Topcon Positioning Group, Trimble Inc., Allflex Inc., Boumatic LLC, FBS Systems, GAO RFID Inc., Cree Inc., General Hydroponics, and XpertSea. are some of the leading players in this market.

Executive Summary
Farm productivity across the Americas has been significantly increasing since the last decade.With the exponential growth of regional population, subsequent rise in demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance the farm yield has become critical.

The increase in urban population in developing countries of South America, along with the enhancement of quality of living due to high income levels, is boosting the demand for crop production. Limited availability of natural resources such as fresh water and arable land along with slowing yield trends in several staple crops has prompted growers and companies in the farming sector to introduce innovative and advanced smart farming techniques in order to enhance farm profitability.

Americas farming industry has witnessed numerous revolutions over decades starting from the domestication of livestock and crops to the organized use of crop rotation using new farming techniques.This was followed by the large-scale usage of fertilizers and pesticide and systematic breeding called as the green revolution.

Finally, with the introduction of Information and Communication Technologies (ICT) in farming since the last decade, farming industry has been witnessing another revolutionary phase.The integration of sensing systems into farming equipment has led to the generation of large amounts of data, which is analyzed with farm management software to provide farmers with valuable insights used for promoting the yield growth.

The incorporation of navigation systems into agricultural machinery and systems has led to the precise movement of farming equipment in the field.

The regional market is currently dominated by the U.S. owing to the high market penetration of technologically advanced solutions in different farming sectors. The smart farming market for the U.S. is saturated for the crop farming and livestock sector, though application segments such as indoor farming and aquaculture are expected to display a good growth. During the forecast period, the Americas smart farming market is expected to be majorly driven by the South American countries owing to the rising awareness among farmers of different countries about the need to elevate farm produce while taking care of the environment.

The smart farming market encompasses a wide array of solutions such as hardware systems, software, and services.Hardware systems involve a system that combines the equipment supported by the software solutions.

Additionally, these hardware systems comprise automation and control systems, sensing and navigation systems, and indoor farming equipment, among others.Software solutions consist of software apps, tools, and cloud services that are provided by the companies on a subscription basis.

The services include integration & deployment of farm equipment, maintenance & support, and other services such as consultancy and financial services. Smart farming systems have applications which cover most of the farming types including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others (forestry, orchids, etc.).

The Americas smart farming market comprises the total market for the continents of North and South America. The major countries in the region that have significant share in the smart farming market are the U.S., Canada, Mexico, Brazil, Argentina, Colombia, and Chile. Among all the countries, the U.S. generated the highest revenue in 2017. The strong growth in the U.S. market was largely due to the high rate of adoption of technologies by the agricultural producers in the U.S. However, during the forecast period, countries such as Mexico, Brazil, Argentina, Colombia, Chile, Venezuela, Paraguay, Costa Rica, and Cuba are projected to display the fastest market growth. These countries present immense scope for market development owing to the increasing urban population size, growing market penetration of internet in farm management, and favorable government investments.

The competitive landscape for the Americas smart farming market demonstrates an inclination toward companies adopting strategies such as product launch and development and partnerships and collaborations. Deere and Co., Trimble Inc., AGCO Corporation, Raven Industries, GEA Farm Technologies, Lely, Afimilk Ltd., Allflex Inc., Vertical Farm Systems, AeroFarms, Phillips Lighting, Osram Licht AG, Harvest Automation, and AKVA Group, among others, are the prominent players in the Americas smart farming market.

The key players operating in the market have ramped up their product launch activities over the recent years in order to generate public awareness about their existing as well as new products and technologies and to compete with the competitors’ product portfolios.This has been the most widely adopted strategy by the players in this market.

For instance, in July 2017, Allflex introduced an innovative cow monitoring and intelligence system called the SenseTime.In May 2017, Osram announced the launch of Oslon Square Hyper Red LED for better plant growth with improved emission characteristics, higher optical output, and impressive corrosion resistance.

Earlier in December 2016, Ag Leader Technology enhanced its AgFiniti cloud-based platform with the announcement of an Application Program Interface (API) that allows third-party farm management information systems (FMIS) to transfer files.

Countries Covered
• The U.S.
• Brazil
• Argentina
• Canada
• Mexico
• Colombia
• Chile
• Rest-of-Americas

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