According to the research report by MarkNtel Advisors, the Global Agriculture 4.0 Market is expected to grow exponentially during the forecast period, i.e., 2021-26. The market growth primarily attributes to the increasing farm mechanization, particularly across the developing countries owing to the rising strain on the food supply by the flooding population, coupled with the shortage of skilled professionals resulting in high labor costs.
Besides, the rising number of partnerships of the governments of major countries with financial institutions & food processing organizations for sustainable crop development with less waste & inefficiency shall also boost the market over the coming years.
Moreover, another reason why Agriculture 4.0 is anticipated to gain substantial popularity among farmers is its cost-effectiveness and various government initiatives toward promoting the adoption of modern farming methods to fulfill the burgeoning demand for crop production with limited natural resources.
Crop Monitoring & Spraying Applications Projected to Continue its Dominance During 2021-26
Based on the Application, the Global Agriculture 4.0 Market segments into:
Of all, Crop Monitoring & Spraying in Farming is expected to dominate the market during 2021-26 since it enables farmers to attain real-time information regarding weather conditions, soil property, and fertilizers during harvest time and create a historical spatial database. It also provides farmers with the documentation of environmental compliance & equitable landlord negotiations.
On the other hand, Irrigation Management is anticipated to display considerable growth in its demand during 2021-26. It owes principally to the growing use of technologies like rain sensors, weather-based & sensor-based controllers, and water meters to help farmers with a suitable amount of irrigation water.
North America Registers Fastest Market Growth During 2021-26
According to the research report, the Global Agriculture 4.0 Market expands across:
North America is projected to display the highest market growth during 2021-26, owing to the rapidly growing enactment of devices like Variable Rate Technology (VRT) among farmers for crop production.
Countries like the US & Canada are likely to become the most prominent areas for the market due to their early adoption of modern farming technologies. Besides, the active participation of the governments of these countries toward promoting modern agricultural tools & techniques among farmers is another crucial aspect expected to fuel the overall market growth in North America through 2026, reveals MarkNtel Advisors in their research report, "Global Agriculture 4.0 Market Analysis, 2021.
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Agriculture 4.0 Market are Trimble Inc., Deere and Company, Agco Corporation, Raven Industries, DeLaval, GEA Group, Agjunction, Antelliq, Ponsse, Komastu Forest, DJI, Granular, Hexagon Agriculture, Crop metrics, and Dickey-John.
Key Questions Answered in the Study