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With a projected CAGR of 10.7 percent from 2024–2031, the worldwide smart agriculture market is expected to grow from an initial valuation of $16,746.27 million in 2023 to a total value of $29,234.16 million in 2031.
The idea behind "smart agriculture" is to equip farmers with the tools they need to make the most of cutting-edge technology. Additionally, farmers are able to more efficiently carry out various agricultural processes including planting, purchasing, harvesting, and inventory control with the help of linked technologies like WiFi, Zigbee, extra wireless sensors, and low power wide area network technology. More and more farmers are turning to AI and the Internet of Things to manage irrigation and keep tabs on their crop fields. Greenhouse and vertical farming are examples of organic farming that has benefited from the use of modern technology, which has increased output. The smart agriculture market is expanding because of innovations like the internet of things (IoT) and artificial intelligence (AI) that can be used in greenhouses to reduce or remove the need for regular crop monitoring. These innovations also provide farmers ideal solutions that are both cost-effective and require minimal human participation.
Businesses in the smart agriculture industry are now concentrating on creating tools with built-in high-tech sensors and cameras. Livestock biometrics—including radio frequency identification (RFID), biometrics, and GPS—are a key technology that is propelling market demand. These technologies enable farmers to automatically acquire real-time information on their livestock. Also, buildings, bridges, farms, and other infrastructure can have their material states and vibrations tracked by infrastructural health sensors. When used in conjunction with an intelligent network, sensors installed in infrastructure aid in the real-time provision of information to the maintenance crew. Agricultural robots are also being utilized to automate a wide range of farming tasks, including weeding, planting, plowing, irrigation, harvesting, picking fruit, and soil management. Smarter and more efficient agricultural technologies are becoming increasingly popular among farmers as a means to maintain profitability and meet the demand for high-quality products in the smart agriculture market. The agricultural value chain benefits from mobile technology's ability to provide new kinds and applications.
In recent years, aquaculture equipment, methods, and technology have undergone enormous improvements across the world. New technology like the Internet of Things (IoT), machine learning, ROVs, AI, automatic feeders, and acoustic telemetry tracking systems are being used more and more by aquaculture farm owners to cater to the increasing demand for protein-rich diets around the world. Farm owners should expect high profits from aquaculture operations that make use of these technologies, which boost production efficiency, reduce resource waste, and make farming processes more accurate, precise, and repeatable.
The agricultural sector is very dispersed, with several autonomous farms ranging in size from very large to very tiny. Because of these differences in operation and potential needs, it is challenging to develop a standardized machine-to-machine (M2M) solution. An incorrect distribution of inputs and resources results from land fragmentation, which in turn causes excessive costs. Because it is difficult to manage, oversee, and collect data from dispersed lands, implementing smart agricultural technologies in such areas is a waste of time, energy, and resources. Because of this, farmers also have a hard time taking advantage of M2M solution economies of scale.
Sustainable agricultural efforts are gaining traction as a result of partnerships between governments, agro-processing groups, food and drink producers, and banks around the world. More food security, higher agricultural efficiency, and higher agricultural output are the goals of these programs. Another factor contributing to the expansion of the smart agriculture market is the increased income opportunities for farmers brought about by public-private partnerships in developing countries like Brazil, India, and China. In addition, several European governments are working with agricultural businesses to deploy cutting-edge technologies like the internet of things (IoT) and machine learning, which will help farmers better plan and carry out their agricultural operations.
Consequently, creating a fantastic chance for the market to expand. Still, the large outlay of capital needed to implement various smart agriculture components is a key obstacle to the industry's expansion. Furthermore, compared to conventional farming practices, smart agriculture is more costly since it employs a variety of techniques to introduce nutrient solutions and passive media into the plant roots. The fact that farmers still have a long way to go before they fully appreciate the technological and operational advantages of the smart agriculture farming system is a major factor holding the market back. Another factor that can slow the smart agriculture market's expansion is the large initial investment that farmers in emerging nations like India and Brazil face when trying to implement smart solutions.
Report Coverage
Global Smart Agriculture research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Agriculture report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Agriculture competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Agriculture market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Agriculture market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Agriculture market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
smart agriculture companies are Deere & Company (US), Trimble Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Topcon Positioning Systems (US), DeLaval (Sweden), AKVA Group (Norway), Allflex Livestock Intelligence (US), Innovasea Systems Inc. (US), Afimilk Ltd. (Israel), and Heliospectra AB (Sweden).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Smart Agriculture market based on the below-mentioned segments:
Global Smart Agriculture Market, By Type
Precision Farming
Livestock Monitoring
Smart Greenhouse
Others
Global Smart Agriculture market, By Application
Precision Farming Application
Livestock Monitoring Application
Smart Greenhouse Application
Others
Global Smart Agriculture Market, By Offering
Hardware
Software
Services
Global Smart Agriculture market, Regional Analysis
The idea behind "smart agriculture" is to equip farmers with the tools they need to make the most of cutting-edge technology. Additionally, farmers are able to more efficiently carry out various agricultural processes including planting, purchasing, harvesting, and inventory control with the help of linked technologies like WiFi, Zigbee, extra wireless sensors, and low power wide area network technology. More and more farmers are turning to AI and the Internet of Things to manage irrigation and keep tabs on their crop fields. Greenhouse and vertical farming are examples of organic farming that has benefited from the use of modern technology, which has increased output. The smart agriculture market is expanding because of innovations like the internet of things (IoT) and artificial intelligence (AI) that can be used in greenhouses to reduce or remove the need for regular crop monitoring. These innovations also provide farmers ideal solutions that are both cost-effective and require minimal human participation.
Businesses in the smart agriculture industry are now concentrating on creating tools with built-in high-tech sensors and cameras. Livestock biometrics—including radio frequency identification (RFID), biometrics, and GPS—are a key technology that is propelling market demand. These technologies enable farmers to automatically acquire real-time information on their livestock. Also, buildings, bridges, farms, and other infrastructure can have their material states and vibrations tracked by infrastructural health sensors. When used in conjunction with an intelligent network, sensors installed in infrastructure aid in the real-time provision of information to the maintenance crew. Agricultural robots are also being utilized to automate a wide range of farming tasks, including weeding, planting, plowing, irrigation, harvesting, picking fruit, and soil management. Smarter and more efficient agricultural technologies are becoming increasingly popular among farmers as a means to maintain profitability and meet the demand for high-quality products in the smart agriculture market. The agricultural value chain benefits from mobile technology's ability to provide new kinds and applications.
In recent years, aquaculture equipment, methods, and technology have undergone enormous improvements across the world. New technology like the Internet of Things (IoT), machine learning, ROVs, AI, automatic feeders, and acoustic telemetry tracking systems are being used more and more by aquaculture farm owners to cater to the increasing demand for protein-rich diets around the world. Farm owners should expect high profits from aquaculture operations that make use of these technologies, which boost production efficiency, reduce resource waste, and make farming processes more accurate, precise, and repeatable.
The agricultural sector is very dispersed, with several autonomous farms ranging in size from very large to very tiny. Because of these differences in operation and potential needs, it is challenging to develop a standardized machine-to-machine (M2M) solution. An incorrect distribution of inputs and resources results from land fragmentation, which in turn causes excessive costs. Because it is difficult to manage, oversee, and collect data from dispersed lands, implementing smart agricultural technologies in such areas is a waste of time, energy, and resources. Because of this, farmers also have a hard time taking advantage of M2M solution economies of scale.
Sustainable agricultural efforts are gaining traction as a result of partnerships between governments, agro-processing groups, food and drink producers, and banks around the world. More food security, higher agricultural efficiency, and higher agricultural output are the goals of these programs. Another factor contributing to the expansion of the smart agriculture market is the increased income opportunities for farmers brought about by public-private partnerships in developing countries like Brazil, India, and China. In addition, several European governments are working with agricultural businesses to deploy cutting-edge technologies like the internet of things (IoT) and machine learning, which will help farmers better plan and carry out their agricultural operations.
Consequently, creating a fantastic chance for the market to expand. Still, the large outlay of capital needed to implement various smart agriculture components is a key obstacle to the industry's expansion. Furthermore, compared to conventional farming practices, smart agriculture is more costly since it employs a variety of techniques to introduce nutrient solutions and passive media into the plant roots. The fact that farmers still have a long way to go before they fully appreciate the technological and operational advantages of the smart agriculture farming system is a major factor holding the market back. Another factor that can slow the smart agriculture market's expansion is the large initial investment that farmers in emerging nations like India and Brazil face when trying to implement smart solutions.
Report Coverage
Global Smart Agriculture research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Agriculture report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Agriculture competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Agriculture market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | smart agriculture companies are Deere & Company (US), Trimble Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Topcon Positioning Systems (US), DeLaval (Sweden), AKVA Group (Norway), Allflex Livestock Intelligence (US), Innovasea Systems Inc. (US), Afimilk Ltd. (Israel), and Heliospectra AB (Sweden). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Smart Agriculture Market from 2021 to 2031.
- Market Forecast for Smart Agriculture Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Smart Agriculture competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Smart Agriculture
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Agriculture market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Agriculture market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
smart agriculture companies are Deere & Company (US), Trimble Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Topcon Positioning Systems (US), DeLaval (Sweden), AKVA Group (Norway), Allflex Livestock Intelligence (US), Innovasea Systems Inc. (US), Afimilk Ltd. (Israel), and Heliospectra AB (Sweden).
Primary Target Market
- Market Players of Smart Agriculture
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Smart Agriculture market based on the below-mentioned segments:
Global Smart Agriculture Market, By Type
Precision Farming
Livestock Monitoring
Smart Greenhouse
Others
Global Smart Agriculture market, By Application
Precision Farming Application
Livestock Monitoring Application
Smart Greenhouse Application
Others
Global Smart Agriculture Market, By Offering
Hardware
Software
Services
Global Smart Agriculture market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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