Smart Plantation Management Systems Market: Current Analysis and Forecast (2021-2027)
The market for smart plantation management systems was stood around $1,168 million in 2020 and is expected to showcase a significant CAGR of around 6.4% during the forecast period. Smart plantation management systems monitor the crop's health, temperature, soil moisture, and light intensity. For instance, smart irrigation control systems help in the regulation of the water supply based on data collected by its soil moisture sensors. They cause alerts and notifications for farmers and help them in monitoring as well as tracking crop health. Smart plantations can decrease the operational costs in the larger farmlands and prevent crop failure. The demand for Smart Plantation Management Systems is increasing on account of the rise in the adoption of plantation intelligence (PI) and data mining by farmers and the decline in the wastage of resources and manpower. In addition, the rising adoption of IoT technology, cloud computing, agricultural sensors, machine learning, and smart irrigation systems in the agriculture sector is expected to create a favorable environment for the smart plantation management systems industry. Moreover, the rising number of smart plantation management systems interconnected through the internet and the cloud platform is booming the market growth. Also, the allotment of subsidiaries to farmers implementing smart farming techniques and the rising awareness about these systems is expected to positively impact the market in the forecast period. Furthermore, the high adoption of 3D laser scanning, hyper-spectral imaging, and drone-based imaging sensors interconnected through cloud platforms are anticipated to result in higher penetration of plantation intelligence.
Insights Presented in the Report
“Amongst Type, Irrigation Systems segment holds the major share.”
Based on Type, the market is fragmented into Irrigation Systems, Plant Growth Monitoring Systems, and Harvesting Systems. The Irrigation Systems segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. Smart irrigation systems monitor as well as control the water scheduling for plantation crops based on data collected by sensors. Moreover, the use of smart irrigation systems decreases the amount of water needed for irrigation, causing the reduction of operation costs, particularly for large farmland. As per the tests by the International Center for Water Technology (California) and Irrigation Association (IA), smart irrigation systems save around 20% more water than traditional irrigation systems, hence driving its demand in the market. “Amongst Crop, Fruits segment holds the major share.”
Based on Crop, the market is fragmented into Coffee, Oilseeds, Sugarcane, Cotton, Fruits, and Others (cocoa, coconuts, areca nuts, and tea). The Fruits segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. In recent times, fruits have been emerging as a key crop for the usage of smart plantation management systems, provided the large number of players offering smart plantation systems for fruits and technologies developed for different types of fruits. Fruits such as apples, grapes, and citrus fruits are mainly used for the implementation of smart plantation management systems owing to their higher consumption. According to the Agricultural Marketing Resource Center, the most consumed fresh fruits in the U.S. are apples, oranges, grapes, and strawberries.
“Amongst Component, the Hardware segment is anticipated to grow at the highest CAGR during the analyzed period.”
Based on Component, the market is fragmented into Hardware and Software. The hardware segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period. The hardware component consists of several sensors, GPS devices, controllers, displays, flow meters, switches, and solenoid. Sensors are installed either on the soil or on the plants to sense and collect real-time data, which is used to produce reports and maps to assist farmers in making decisions about their crops. Sensors used are soil, water, weather, moisture, wind intensity, and temperature are mainly used in crop production. Hence, advancement in software systems intensifies the growth of hardware components.
“Asia Pacific region signifies one of the largest markets and is expected to be the fastest-growing markets of Smart Plantation Management Systems market.”
For a better understanding of the market adoption of Smart Plantation Management Systems, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific region will dominate the Smart Plantation Management Systems market on account of the rising favorable climatic conditions for plantation crops. Due to the large cultivation of different plantation crops, such as tea, sugarcane, and cotton. Some of the major players operating in the market include Robert Bosch, Deere & Company, Netafim, Synelixis Solutions, DTN, AgroWebLab Co., Ltd, SemiosBio Technologies, WaterBit, and Phytech. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
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