Jan 11, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Smart Plantation Management Systems Market.
It was estimated prior to this unanticipated outbreak that the Smart Plantation Management Systems Market is likely to witness an impressive CAGR of 5.7% during the forecast period. The increase in the adoption of various methods such as plantation intelligence and data mining by farmers and the reduced wastage of resources and manpower are the major factors driving the growth of the market during the forecast period.
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Smart plantation management systems are used to control and monitor the water scheduling for plantation crops which improves the quality and quantity of the agricultural products. It also reduces the amount of water that is to be used for irrigating, and hence, eventually reduces the operational cost.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as irrigation systems, plant growth monitoring systems, and harvesting systems. The irrigation systems held the largest share of the smart plantation management systems market in 2020, and is likely to lead the market during the forecast period. The smart irrigation systems control the process of water flow for planting crops based on the available data collected by sensors. Moreover, smart irrigation systems also help in reducing the amount of water required for irrigation of plants, which results in the reduced operational cost, particularly in case of large farmland. One of the major factors that is driving the demand for smart irrigation systems in the market is its saving of 20% more water than the traditional irrigation systems.
Based on the crop type, the market is segmented as coffee, oilseeds, sugarcane, cotton, fruits, and others. The fruit segment accounts for the largest share of the market and is expected to remain dominant during the forecast period, as fruits seem to be a key crop for using smart plantation management systems. There are a large number of players that offer smart plantation management systems for fruits and various technologies developed for different kinds of fruits. Fruits such as grapes, apples, and citrus fruits are the major ones having higher consumption in the implementation of smart plantation management systems.
Based on the component type, the market is segmented as hardware and software. The hardware segment is projected to be the dominant segment of the market during the forecast period. It includes various components such as sensors, GPS devices, flow meters, displays, and switches, among others. Installation of sensors are done on the plants and soil which sense and collect real-time data, which generate reports and maps providing an assistance to the farmers for making better decisions regarding their crops. Sensors such as water, soil, moisture, weather, wind intensity, and temperature sensors are the major ones used for plantation crops. The improved technologies in software system are driving the growth of hardware components in the market.
In terms of regions, Asia-Pacific held the largest share of the market in 2020, and is likely to lead the market. The suitable climatic conditions for plantation crops are the major factors behind APAC, which being the dominant region in the market. The region has a great capability owing to its large cultivation of plantation crops, including tea, cotton, and sugarcane. The distribution of smart plantation management systems in APAC is still in its budding stage and is estimated to grow robustly, which in turn, will improve the crop yield with enhanced usage of resources for plantation crops. China accounts for the major share of the market owing to the existence of large cultivation area, specified majorly for sugarcane, tea, and different types of fruits. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Smart Plantation Management Systems market are-
- AquaSpy, Inc.
- Jain Irrigation Systems
- John Deere
- Rivulis Irrigation Ltd.
- Robert Bosch
- Synelixis Solutions S.A.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Smart Plantation Management Systems analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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