INDIA SMART AGRICULTURE MARKET FORECAST 2022-2028
The India smart agriculture market growth is anticipated to progress at a CAGR of 13.38% during the forecast period, 2022-2028, and is expected to garner a revenue of $886.21 million by 2028.
INDIA SMART AGRICULTURE MARKET FORECAST 2022-2028
India Smart Agriculture Market by Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Smart Greenhouse) Market by Component (Solution, Service, Connectivity Technology)
The India smart agriculture market growth is anticipated to progress at a CAGR of 13.38% during the forecast period, 2022-2028, and is expected to garner a revenue of $886.21 million by 2028.
India has the second-highest population globally, and a growing need for healthy food, attributed to the impact of globalization, rising disposable income, and increasing population. Besides, agriculture is an essential component of the Indian economy. As per the Indian Brand Equity Foundation (IBEF) data, as of March 2022, agriculture constituted around 17.8% of the country’s Gross Value Added (GVA). In addition, the government is undertaking initiatives to ensure agricultural production and food security to build a self-sufficient economy. At the same time, high population, landslides, and climate change facilitate expansion opportunities for smart agriculture in India.
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Furthermore, the government is promoting smart farming and encouraging foreign companies that develop agricultural technology to establish farms through 100% FDI in agricultural activities, controlled conditions for aquaculture, regulated cultivation conditions of vegetables and mushrooms, and services associated with the allied and agro sectors. For instance, ITC, one of the biggest FMCG companies in India, launched its ‘Meta Market for Advanced Agricultural Services’ app (ITCMAARS) that offers farmers agricultural services like market connections, precision farming, real-time soil testing, access to inputs, personalized ‘Crop Calendar’ for scientific crop cycle planning, and ‘Crop Doctor’ for real-time crop infestation resolution.
Moreover, the India smart agriculture market growth is accredited to the growing adoption of the Internet of Things (IoT) in the agriculture sector, the application of advanced analytics, and government initiatives that supplement the incorporation of modern agriculture technologies. Additionally, the rising demand for data regarding crop conditions, soil, and local weather predictions boosts growth opportunities. However, the lack of awareness and high costs challenge the growth of smart agriculture in India.
The segmentation of the India smart agriculture market includes component and type. The type segment includes smart greenhouse, precision farming, livestock monitoring, and precision aquaculture.
Livestock encompasses domesticated animals raised in an agricultural setting to produce commodities like eggs, wool, leather, milk, fur, and meat. With regard to livestock monitoring, they are monitored by apps with integrated system technology monitoring, data, and information acquired from algorithmic data knowledge and sensors. The data is further interpreted and combined to display the maximum potential of livestock, thereby saving costs. The rising awareness about the need to boost livestock production fuels the segment’s growth. The growth is also attributed to the global food security concerns enabling heavy investments in livestock monitoring. Furthermore, the fast-paced adoption of IoT technology in the livestock monitoring process has raised production capacity by minimizing human labor.
Precision aquaculture is a method of automating aquaculture operations on the basis of farm-level data obtained by sensors and other technologies. It gathers agricultural data through control-engineering techniques and the Internet of Things (IoT) concepts. A network of interconnected sensors stores and gathers data to produce data-driven insights unique to each pond or cage. Also, water quality is vital for fish production, turbidity, dissolved oxygen levels, temperature, maintaining water PH, and appropriate growth of aquatic organisms.
Moreover, control systems, solar systems, smartphones, telecommunication systems, and sensors integrated with technology intervention enable a suitable ecosystem for aquaculture production. In addition, precision aquaculture integrates smart devices to assess environmental elements on a real-time basis to analyze data collected autonomously.
Some of the prominent market players in the India smart agriculture market are Deere & Company, Aibono, DeLaval, MSD Animal Health (Merck & Co), Trimble Inc, etc.
Deere & Company manufactures and distributes forestry, construction, and agricultural equipment. It also provides machines and service parts used in timber harvesting, material handling, earthmoving, and construction. In addition, the company finances new and used equipment leases and sales and facilitates extended equipment warranties and wholesale financing. It is headquartered in Moline, Illinois, United States.
Report Synopsis
|
Report Scope |
Details |
| Market Forecast Years | 2022-2028 |
| Base Year | 2021 |
| Market Historical Years | 2018-2021 |
| Forecast Units | Revenue ($ Million) |
| Segments Analyzed | Domain, Offering, Airport Size |
| Country Analyzed | China |
| Companies Analyzed |
Aibono, Deere & Company, DeLaval, MSD Animal Health (Merck & Co), Trimble Inc |
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- COUNTRY SNAPSHOT
- COUNTRY ANALYSIS
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY ANALYTICS
- IMPACT OF COVID-19 ON SMART AGRICULTURE MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- PESTLE ANALYSIS – INDIA
- KEY BUYING CRITERIA
- DATA ANALYSIS
- CONNECTIVITY
- DATA SECURITY
- DATA COLLECTION FREQUENCY
- REGULATORY FRAMEWORK
- MARKET BY TYPE
- PRECISION FARMING
- LIVESTOCK MONITORING
- PRECISION AQUACULTURE
- SMART GREENHOUSE
- MARKET BY COMPONENT
- SOLUTION
- HARDWARE
- HVAC SYSTEMS
- LED GROW LIGHTS
- VALVES & PUMPS
- SENSORS & CONTROL SYSTEMS
- OTHER HARDWARE
- SOFTWARE
- NETWORK MANAGEMENT
- AGRICULTURE ASSET MANAGEMENT
- SMART WATER MANAGEMENT
- IRRIGATION MANAGEMENT
- SERVICE
- CONSULTING
- SYSTEM INTEGRATION AND DEPLOYMENT
- SUPPORT AND MAINTENANCE
- CONNECTIVITY TECHNOLOGY
- CELLULAR IOT
- LORA
- NB-IOT
- GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS)
- WI-FI
- SIGFOX
- WIRELINE
- WIRELESS PERSONAL AREA NETWORK (WPAN)
- OTHER CONNECTIVITY TECHNOLOGIES
- HARDWARE
- SOLUTION
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- COMPANY PROFILES
- AIBONO
- DEERE & COMPANY
- DELAVAL
- MSD ANIMAL HEALTH (MERCK & CO)
- TRIMBLE INC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – SMART AGRICULTURE
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: INDIA SMART AGRICULTURE MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 4: INDIA SMART AGRICULTURE MARKET, BY TYPE, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 5: INDIA SMART AGRICULTURE MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 6: INDIA SMART AGRICULTURE MARKET, BY COMPONENT, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 7: INDIA SMART AGRICULTURE MARKET, BY SOLUTION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 8: INDIA SMART AGRICULTURE MARKET, BY SOLUTION, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 9: INDIA SMART AGRICULTURE MARKET, BY HARDWARE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 10: INDIA SMART AGRICULTURE MARKET, BY HARDWARE, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 11: INDIA SMART AGRICULTURE MARKET, BY SOFTWARE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 12: INDIA SMART AGRICULTURE MARKET, BY SOFTWARE, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 13: INDIA SMART AGRICULTURE MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 14: INDIA SMART AGRICULTURE MARKET, BY SERVICE, FORECAST YEARS, 2022-2028 (IN $ MILLION)
TABLE 15: INDIA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 16: INDIA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, FORECAST YEARS, 2022-2028 (IN $ MILLION)
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: KEY BUYING CRITERIA
FIGURE 5: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021
FIGURE 6: INDIA SMART AGRICULTURE MARKET, BY PRECISION FARMING, 2022-2028 (IN $ MILLION)
FIGURE 7: INDIA SMART AGRICULTURE MARKET, BY LIVESTOCK MONITORING, 2022-2028 (IN $ MILLION)
FIGURE 8: INDIA SMART AGRICULTURE MARKET, BY PRECISION AQUACULTURE, 2022-2028 (IN $ MILLION)
FIGURE 9: INDIA SMART AGRICULTURE MARKET, BY SMART GREENHOUSE, 2022-2028 (IN $ MILLION)
FIGURE 10: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021
FIGURE 11: INDIA SMART AGRICULTURE MARKET, BY SOLUTION, 2022-2028 (IN $ MILLION)
FIGURE 12: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SOLUTION, IN 2021
FIGURE 13: INDIA SMART AGRICULTURE MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE 14: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY HARDWARE, IN 2021
FIGURE 15: INDIA SMART AGRICULTURE MARKET, BY HVAC SYSTEMS, 2022-2028 (IN $ MILLION)
FIGURE 16: INDIA SMART AGRICULTURE MARKET, BY LED GROW LIGHTS, 2022-2028 (IN $ MILLION)
FIGURE 17: INDIA SMART AGRICULTURE MARKET, BY VALVES & PUMPS, 2022-2028 (IN $ MILLION)
FIGURE 18: INDIA SMART AGRICULTURE MARKET, BY SENSORS & CONTROL SYSTEMS, 2022-2028 (IN $ MILLION)
FIGURE 19: INDIA SMART AGRICULTURE MARKET, BY OTHER HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE 20: INDIA SMART AGRICULTURE MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 21: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SOFTWARE, IN 2021
FIGURE 22: INDIA SMART AGRICULTURE MARKET, BY NETWORK MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE 23: INDIA SMART AGRICULTURE MARKET, BY AGRICULTURE ASSET MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE 24: INDIA SMART AGRICULTURE MARKET, BY SMART WATER MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE 25: INDIA SMART AGRICULTURE MARKET, BY IRRIGATION MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE 26: INDIA SMART AGRICULTURE MARKET, BY SERVICE, 2022-2028 (IN $ MILLION)
FIGURE 27: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2021
FIGURE 28: INDIA SMART AGRICULTURE MARKET, BY CONSULTING, 2022-2028 (IN $ MILLION)
FIGURE 29: INDIA SMART AGRICULTURE MARKET, BY SYSTEM INTEGRATION AND DEPLOYMENT, 2022-2028 (IN $ MILLION)
FIGURE 30: INDIA SMART AGRICULTURE MARKET, BY SUPPORT AND MAINTENANCE, 2022-2028 (IN $ MILLION)
FIGURE 31: INDIA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, 2022-2028 (IN $ MILLION)
FIGURE 32: INDIA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY CONNECTIVITY TECHNOLOGY, IN 2021
FIGURE 33: INDIA SMART AGRICULTURE MARKET, BY CELLULAR IOT, 2022-2028 (IN $ MILLION)
FIGURE 34: INDIA SMART AGRICULTURE MARKET, BY LORA, 2022-2028 (IN $ MILLION)
FIGURE 35: INDIA SMART AGRICULTURE MARKET, BY NB-IOT, 2022-2028 (IN $ MILLION)
FIGURE 36: INDIA SMART AGRICULTURE MARKET, BY GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS), 2022-2028 (IN $ MILLION)
FIGURE 37: INDIA SMART AGRICULTURE MARKET, BY WI-FI, 2022-2028 (IN $ MILLION)
FIGURE 38: INDIA SMART AGRICULTURE MARKET, BY SIGFOX, 2022-2028 (IN $ MILLION)
FIGURE 39: INDIA SMART AGRICULTURE MARKET, BY WIRELINE, 2022-2028 (IN $ MILLION)
FIGURE 40: INDIA SMART AGRICULTURE MARKET, BY WIRELESS PERSONAL AREA NETWORK (WPAN), 2022-2028 (IN $ MILLION)
FIGURE 41: INDIA SMART AGRICULTURE MARKET, BY OTHER CONNECTIVITY TECHNOLOGIES, 2022-2028 (IN $ MILLION)
- MARKET BY TYPE
- PRECISION FARMING
- LIVESTOCK MONITORING
- PRECISION AQUACULTURE
- SMART GREENHOUSE
- MARKET BY COMPONENT
- SOLUTION
- HARDWARE
- HVAC SYSTEMS
- LED GROW LIGHTS
- VALVES & PUMPS
- SENSORS & CONTROL SYSTEMS
- OTHER HARDWARE
- SOFTWARE
- NETWORK MANAGEMENT
- AGRICULTURE ASSET MANAGEMENT
- SMART WATER MANAGEMENT
- IRRIGATION MANAGEMENT
- SERVICE
- CONSULTING
- SYSTEM INTEGRATION AND DEPLOYMENT
- SUPPORT AND MAINTENANCE
- CONNECTIVITY TECHNOLOGY
- CELLULAR IOT
- LORA
- NB-IOT
- GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS)
- WI-FI
- SIGFOX
- WIRELINE
- WIRELESS PERSONAL AREA NETWORK (WPAN)
- OTHER CONNECTIVITY TECHNOLOGIES
- HARDWARE
- SOLUTION
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