PUBLISHER: Inkwood Research | PRODUCT CODE: 1170419
PUBLISHER: Inkwood Research | PRODUCT CODE: 1170419
The Asia-Pacific smart agriculture market is set to record a CAGR of 11.72% during the forecast period, 2022-2030. The rising demand for organic food from emerging countries and the growing population in countries like India and China drive market growth. Also, government initiatives in emerging countries to increase smart agriculture projects offer growth opportunities.
Thailand, China, South Korea, India, Indonesia, Japan, Australia & New Zealand, and Rest of Asia-Pacific are analyzed for the Asia-Pacific smart agriculture market growth assessment. Japan has one of the most sophisticated and innovative IT markets. Also, the government's Society 5.0 plan aims to create a super-smart society powered by digital innovation. Accordingly, robotics, AI, IoT, and big data will be included in the strategy for varied businesses and services from social care to industrial output. In addition, the country has implemented digital farming technologies that aid collect the regulated environment farming features and cut water use in agriculture by 80%-90%.
Furthermore, smart agriculture is estimated to develop due to the use of AI in remote-control management, data analysis, and harvest computation. Several agricultural robots have been used in Japan in recent years, including autonomous drones for pest control and robots for overlooking tea plantations and weeding in rice paddies.
In Indonesia, five major business models, mechanization, digital marketplaces, traceability, peer-to-peer finance, and farmers advising, are transitioning into a dynamic and thriving AgriTech ecosystem. In addition, the nation's food output needs increased agricultural investment to streamline and modernize food systems. Besides, the agriculture industry, which constitutes over 14% of Indonesia's GDP, is majorly controlled by smallholder farmers. Such factors drive market growth in these countries.
Some of the prominent companies in the market include: Topcon Positioning Systems Inc, SemiosBio Technologies Inc, Trimble Inc, Climate Corporation (Bayer AG), etc.