4.14 Global Smart Agriculture Market is Exhibiting a Promising 13.5% CAGR by 2025: Demand for Minimizing Human Labor and Boosting Yield in Agriculture to Create Lucrative Opportunities, Says TMR
ALBANY, New York, March 23, 2017 /PRNewswire via COMTEX/ — ALBANY, New York, March 23, 2017 /PRNewswire/ —
The presence of a large number of companies has rendered the competitive landscape of the global smart agriculture market highly fragmented. The cumulative share of the top four players nearly 15.5% in the market in 2016, hinting towards a highly competitive environment. Raven Industries, Inc., Trimble Navigation, Deere & Co, and AgJunction, Inc., are the top market players. Of these, AgJunction, Inc., emerged dominant in 2016 holding a little short of 6% of the overall market, finds Transparency Market Research (TMR) in its new study.
“A majority of the companies operating in the global smart agriculture market are looking to gain traction by means of innovation and technological improvements,” said a lead TMR analyst. Besides this, exploring lucrative pockets around the world and establishing units are key strategies of emerging at the fore of this highly competitive market. Acquiring small and local players is yet another popular strategy adopted by the leading players aiming for expanding their regional footprint.