Middle East And Africa Smart Agriculture Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report on the smart agriculture market in the Middle East and Africa states that it is likely to observe growth, with a CAGR of 10.64% in the forecast years from 2022 to 2028. South Africa, Saudi Arabia, the United Arab Emirates, Turkey, Israel, and Rest of Middle East & Africa are analyzed in the market in this region.
Saudi Arabia’s tech sector is growing rapidly, and in view of this, the nation plans to diversify its economy from fossil fuels. This is likely to increase agricultural exports, which would be a major driving factor for the smart agriculture market. Also, data science and data analytics are the major technologies bolstering the nation’s agro-technology sector.
Data science plays a vital role in the agricultural sector in terms of monitoring irrigation levels, crop yield, and other verticals of smart agriculture. Further, according to industry sources, Saudi Arabia spent $33 billion on ICT equipment in 2021, which is expected to boost the agritech sector. All these factors present positive prospects for the growth of the studied market in the years to come.
Being a water-poor country, Egypt has adopted smart irrigation techniques as part of its 20-year plan to tackle water shortage. Its Ministry of Water Resources and Irrigation collaborated with Cairo MSA University to develop a smart sensor system to measure and monitor soil moisture via smartphones to aid in precise irrigation.
Whereas, in Lebanon, agro-based startups, such as Ground Vertical Farming and Robinson Agri, have implemented smart irrigation solutions across the country to drive the adoption of IoT-based smart solutions. These developments indicate positive growth for the smart agriculture market in Rest of Middle East & Africa.
COMPETITIVE OUTLOOK
The dominant players in the smart agriculture market include Raven Industries, LumiGrow Inc, The Climate Corporation (Bayer AG), Topcon Positioning Systems Inc, Aker Technologies Inc, DeLaval, Afimilk Ltd, and AKVA.
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