Adoption of the IoT solutions, targeting to improve agricultural yield is at the core of the smart agriculture technology. These solutions are specially designed to mitigate the inherent and interlinked challenges concerning food security and erratic nature of climate. Despite being criticized for being a little expensive for farmers in underdeveloped countries, the proponents of the theory claim smart agriculture to be developed for benefiting smallholder farmers by improving the efficiency of inputs such as fertilizers, seeds, and labor, and in the end increasing the food security.
Over the last few years, smart agriculture solutions have witnessed a tremendous rise in demand, thanks to the advent of connected devices for use in the agricultural sector. As governments, especially across emerging nations, implement favorable policies encouraging the adoption of connected devices in agriculture, the demand for smart agricultural technologies is expected to rise in response.
Market to Significantly Gain from Proliferation of Connected Devices
However, on the flip side inadequate awareness about the availability and the benefits offered by smart agriculture is inhibiting the market’s growth to an extent. It is due to the same reason that the smart agriculture market is yet to establish its presence across countries such as Brazil, China, and India. Nevertheless, rapid proliferation of connected technologies is expected with the increasing penetration of the internet. This in turn will create opportunities for the companies aiming to expand their footprint in the market.
Agriculture Sector in Asia Pacific to Present Immense Opportunities to the Market
Regionally, the global smart agriculture market is spread across Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these nations, North America is expected to lead the market through 2016. Furthermore, the regional market is significantly gaining from its strong economy and favorable government incentives.
The market is also expected to witness attractive opportunities in Asia Pacific. The region boasts one of the largest agricultural sectors in the world present with huge untapped opportunities. This presents immense prospects for the market’s expansion. As a result of the penetration of IoT in the agriculture sector, the deployment of smart agriculture device is expected to increase in Asia Pacific in the forthcoming years.