What is the global market size of Smart Agriculture Market?

Global Smart Agriculture Market size was valued at USD 13.10 Billion in 2022 and is poised to grow from USD 14.34 Billion in 2023 to USD 29.65 Billion by 2031, growing at a CAGR of 9.51% in the forecast period (2024-2031).

Who are the key vendors in the Smart Agriculture Market?

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. '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.'

What is the key driver of Smart Agriculture Market?

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.

What is the key market trend for Smart Agriculture Market?

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.

Which region accounted for the largest share in Smart Agriculture Market?

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.

Smart Agriculture Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to smart agriculture market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Smart Agriculture Market News

In July 2023, Deere & Company announced the acquisition of Smart Apply, Inc. The company planned to leverage Smart Apply’s precision spraying to assist growers in addressing the challenges associated with input costs, labor, regulatory requirements, and environmental goals.
In May 2023, AgEagle Aerial Systems Inc. announced that it had entered into a 2-year supply agreement with Wingtra AG. This agreement is purposed to secure the supply of RedEdge-P sensor kits for incorporation with WingtraOne VTOL drones.
In January 2023, ASI Logistics in collaboration with SICK, Inc. announced the successful implementation of autonomous yard truck operations. In this collaboration, ASI Logistics leveraged its groundbreaking Vehicle Automation Kit (VAK) along with the industry-leading LiDAR systems of SICK.

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Smart Agriculture Market size was valued at USD 14.34 Billion in 2023 and is poised to grow from USD 15.7 Billion in 2024 to USD 32.47 Billion by 2032, growing at a CAGR of 9.51% during the forecast period (2025-2032).

The competitive landscape of the global smart agriculture industry is characterized by a mix of established and emerging players, seeking to meet the growing demand for sustainable and efficient agricultural practices. Key companies such as Deere & Company, Trimble Inc., AGCO Corporation, and Bayer AG dominate the market with advanced precision agriculture technologies, IoT-enabled devices, and data-driven farming solutions. These players are leveraging artificial intelligence, machine learning, and robotics to enhance crop monitoring, irrigation management, and yield optimization. '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.'

The increasing strain on the global food supply chain is driving the demand for smart agriculture technologies, which offer efficient, sustainable methods to boost food production with limited resources. The need for higher crop yields amid finite land and water resources and the impact of climate change on farming practices are increasing the adoption of smart agriculture solutions. Smart irrigation, soil monitoring, and predictive climate allow farmers to use resources efficiently and adapt to changing weather patterns. It helps farmers optimize inputs and reduce waste.

Surging Investment and Initiatives Towards Smart Agriculture: Rising investments and initiatives in smart agriculture are driving significant market growth by meeting the need for efficient, sustainable, and high yield farming practices. Precision farming technologies, such as drones, soil sensors, and satellite imagery, are benefiting from these investments, allowing farmers to optimize resources and reduce costs through real-time monitoring. Government and private initiatives supporting precision irrigation, regenerative farming, and organic pest control align with global sustainability goals and encourage eco-friendly farming.

North America dominated the smart agriculture market with a market share of 44.07% in 2024. It is expected to register a CAGR of 12.3% from 2025 to 2032. Growing government initiatives and regulations to enhance the agriculture industry in the region are expected to drive the North American regional demand during the forecast period. Various agricultural organizations have come together to form the North America Climate Smart Agriculture Alliance (NACSAA), a platform for educating and equipping the cultivators for sustainable agricultural productivity. With the rising concern for water conservation, governments in North America are actively providing subsidies to enhance the applications of smart irrigation. For instance, the government of California has provided a rebate on smart controllers.