The smart plantation management systems market is projected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2025, recording a CAGR of 5.8% during the forecast period. This is attributed to an increase in the adoption of plantation intelligence (PI) and data mining by farmers and reduction in the wastage of resources and manpower.
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Key Market Players
The key vendors in the global smart plantation management systems include Robert Bosch (Germany), Deere & Company (US), Netafim (Israel), Synelixis Solutions (Greece), DTN (US), AgroWebLab Co., Ltd (AWL) (China), Tevatronics (Israel), SemiosBio Technologies (Canada), WaterBit (US), Phytech (Israel), Rivulis (Israel), Jain Irrigation Systems (India), Hidrosoph (Portugal), and AquaSpy (US). These players have broad industry coverage and strong operational and financial strength.
Asia Pacific is projected to account for the largest market share in the smart plantation management systems during the forecast period
The Asia Pacific market accounted for the largest share in 2018. This dominance is attributed to the favorable climatic conditions for plantation crops. It has a huge potential due to the large cultivation of plantation crops, which include tea, sugarcane, and cotton. The deployment of smart plantation management systems in the region is still in its nascent stage and is expected to witness robust growth that will improve the crop yield with optimized usage of resources. China holds the major market share due to the presence of a large cultivation area for plantation crops, specifically for tea, sugarcane, and fruits.