USD 13.10 Million
Global Smart Agriculture Market Size, Share, Growth Analysis, By Agriculture Type(Precision farming, Livestock monitoring), By Software(Remote monitoring, data analytics), By Hardware(Soil Sensors, Nutrient Sensors), By Offering(Hardware, Software), By Farm Size(Small, Medium) - Industry Forecast 2023-2030
Report ID:
SQMIG10A2026 |
Region:
Global |
Published Date: July, 2037
Pages:
178
|
Tables:
153 |
Figures:
70
Global Smart Agriculture Market Insights
Global Smart Agriculture Market size was valued at USD 13.10 Million in 2022 and is poised to grow from USD 14.34 Billion in 2023 to USD 29.65 Million by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).
The convergence of IoT technology alongside robotics, drones, remote sensors, and computer imaging is poised to revolutionize agriculture by offering farmers comprehensive data for optimizing their farming practices in alignment with environmental needs. This integration promises an exponential acceleration in market growth by enabling farmers to access crucial insights for decision-making. Leveraging GPS and GIS for pinpoint monitoring of specific field locations, assessing soil quality, and visualizing field data on maps, combined with robust big data analytics, is set to revolutionize land productivity.
The swift uptake of precision farming methodologies, tailored to offer precise inputs for maximizing land productivity, and the advent of smart greenhouse technologies are pivotal contributors driving this market's positive trajectory. These advancements collectively signal a transformative shift in agriculture, promising heightened efficiency, sustainability, and informed decision-making for farmers, thereby fueling the market's rapid expansion.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Drones
Growth Rate
9.5% CAGR
Global Smart Agriculture Market ($ Bn)
Country Share for North America Region (%)
Global Smart Agriculture Market By Offering (%)
To get more reports on the above market click here to Buy The Report
Global Smart Agriculture Market Segmental Analysis
Global Smart Agriculture Market is segmented on the basis of agriculture type, offering, software, hardware, farm size, and region. Based on Agriculture Type, the global market is segmented into Precision farming, Livestock monitoring, Smart greenhouse, Others. Based on offering, the global market is segmented into Hardware and Software. Based on software, the global market is segmented into Remote monitoring, data analytics, Supply Chain Management, Quality Assurance, Data Management and others. Based on Hardware, the global market is segmented into Soil Sensors, Nutrient Sensors, Moisture Sensors, Light Sensors, HVAC, Displays, Antennas, Receivers, LED lights, Valves and Pumps and others. Based on farm size, the global market is segmented into Small, Medium, and Large. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Offering
During the period spanning from 2023 to 2030, the software segment is poised to exhibit the most robust growth within the agricultural technology market. Within the hardware segment, distinct subdivisions include automation & control systems, HVAC systems, LED grow lights, RFID tags & readers, and sensing devices. Specifically focusing on automation & control systems, this subset presents a multifaceted landscape encompassing a range of integral components. These include application control devices, milking robots, guidance systems, driverless tractors, mobile devices, remote sensing technologies, variable rate technology, drones, and wireless modules.
In the realm of automation & control systems, the drones sub-segment is anticipated to experience the most rapid growth throughout the forecast period. Drones, comprising various types such as hybrid and fixed-wing variants, are at the forefront of this surge. Fixed-wing drones are characterized by a rigid wing structure designed with a specific airfoil shape, crucial for generating lift during flight. This lift is a direct result of the drone's forward airspeed, facilitated by the aerodynamic properties of its wing.
Analysis by Type
The precision farming segment emerged as the leading contributor to revenue in 2022 within the agricultural technology landscape. Precision farming epitomizes a contemporary farm management approach deeply rooted in the meticulous observation, measurement, and response to diverse and dynamic variables within and across fields. This methodology strategically leverages inherent variations in agricultural land, employing advanced techniques such as Variable Rate Application (VRA) to optimize input application.
Anticipated as a segment with consistently rapid revenue growth, the livestock sector is poised for significant expansion throughout the forecast period. The surge in meat consumption, a trend observed over recent decades, has seen global production more than double, escalating from 80 to over 300 million tons since 1963. This considerable rise is predominantly fueled by the simultaneous increase in global population and rising per capita incomes. Historically, meeting demand largely relied on gains in slaughter weights; however, projections indicate a decline in future animal productivity growth.
Global Smart Agriculture Market By Offering , 2022 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Smart Agriculture Market Regional Insights
The forecast period anticipates North America to demonstrate the swiftest revenue CAGR, largely propelled by intensified government initiatives and regulatory interventions aimed at fortifying the agricultural sector within the region. These concerted efforts seek to bolster agricultural practices through innovative technologies and sustainable methodologies, fostering productivity and resilience in the face of evolving challenges. The concerted efforts to bolster agricultural practices have spurred a surge in demand, driven by a proactive stance toward fostering sustainable and smart agriculture.
Asia-Pacific emerges as a leader in the smart agriculture market, commanding a significant market share of 33% in 2022. The ascendancy of APAC's agricultural dominance is anchored in a convergence of elements driving technological progress within this sector. The region's accelerated growth trajectory finds its roots in swift and continuous technological innovations alongside the widespread integration of cutting-edge methodologies. Particularly noteworthy are the pervasive use of data analysis and the strategic deployment of Artificial Intelligence (AI), both instrumental in propelling agricultural productivity to unprecedented heights.
Global Smart Agriculture Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Smart Agriculture Market Dynamics
Drivers
Rising Adoption of Advanced Technologies and Equipment
- The rapid assimilation of sophisticated technologies such as mapping software, Variable Rate Technology (VRT), GPS systems, and advanced data management tools has sparked a remarkable upsurge in agricultural productivity. Among these, the integration of mapping software stands as a revolutionary force in reshaping the agricultural panorama, notably enhancing capabilities in crop yield prediction and monitoring crop health.
Restraints
High Costs and Unskilled Labour
- The substantial upfront expenses associated with installing Smart Agriculture systems pose a significant hurdle, hindering the industry's growth trajectory. The cost variability contingent upon specific system specifications creates a formidable barrier, particularly for lower-income families residing in rural areas and other communities, limiting widespread adoption. This financial constraint, compounded by the absence of standardized practices for managing extensive volumes of accumulated data from fragmented land parcels, results in inefficient resource allocation.
Request Free Customization of this report to help us to meet your business objectives.
Global Smart Agriculture Market Competitive Landscape
The competitive environment of the Global Smart Agriculture Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- CropMetrics
- CLAAS KGaA
- Ag Leader Technology
- AgJunction, Inc.
- Autonomous Solutions, Inc.
- BouMatic Robotic B.V.
- Deere & Company
- DroneDeploy
- Farmers Edge Inc
- Topcon Corporation
- Raven Industries
- Trimble Inc.
Recent Developments
- In April 2024, AGCO Corporation, a global leader in the design, manufacture and distribution of agricultural machinery and precision agriculture technology, launched PTx, a new brand representing its precision agriculture portfolio. PTx combines precision agricultural technologies from the cornerstones of AGCO’s tech stack: Precision Planting and its newest joint venture (JV), PTx Trimble.
- In March 2024, Huawei, the prominent Chinese multinational technology corporation, announced its collaborative efforts with international organizations and local partners to drive the adoption of artificial intelligence (AI) in agriculture across Latin America and the Caribbean.
- In January 2024, Linamar Corporation took a significant stride in advancing its position within the agriculture sector with the acquisition of Bourgault Industries Ltd. Located in St. Brieux, Saskatchewan. Bourgault Industries is a renowned global leader in broad-acre seeding, known for its cutting-edge agricultural equipment.
Global Smart Agriculture Key Market Trends
- Every day, an immense volume of farm data is generated, yet its true value remains untapped without proper examination. Big data and analytics serve as indispensable tools that transform this raw information into actionable insights. A wide array of data, including crop disease statistics, weather forecasts, market prices, irrigation patterns, land utilization, crop areas, production metrics, and future projections, forms the foundation for planning the upcoming farming seasons. Leveraging analytical tools, this wealth of information is harnessed from various sources, encompassing weather events, machinery performance, water cycles, and detailed data on crop quality and quantity.
Global Smart Agriculture Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The growing dependence on interconnected technologies and data-driven methodologies within agriculture exposes farms to significant vulnerabilities, primarily stemming from cyber threats and unauthorized access to critical data. Potential breaches pose a grave risk by compromising sensitive information, ranging from details on crop yields and soil quality to intricate operational strategies. Furthermore, the aggregation of vast volumes of agricultural data raises ethical concerns regarding ownership and proper utilization.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.10 Million |
| Market size value in 2031 | USD 29.65 Million |
| Growth Rate | 9.5% |
| Base year | 2022 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Smart Agriculture Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Smart Agriculture Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Smart Agriculture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Agriculture Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Agriculture Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Smart Agriculture Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Smart Agriculture Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
