Smart Agriculture
PUBLISHED: 2024 ID: SMRC26410
SHARE
SHARE

Smart Agriculture

Smart Agriculture Market Forecasts to 2030 - Global Analysis By Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse and Other Types), Offering, Application, End User and By Geography

4.8 (76 reviews)
4.8 (76 reviews)
Published: 2024 ID: SMRC26410

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Smart Agriculture Market is accounted for $26.2 billion in 2024 and is expected to reach $62.8 billion by 2030 growing at a CAGR of 15.7% during the forecast period. Smart agriculture, also known as precision agriculture, refers to the use of advanced technologies such as IoT, AI, drones, and big data to optimize farming practices. This approach aims to enhance crop yield, reduce resource consumption, and improve overall farm management. By leveraging real-time data and automation, smart agriculture allows farmers to make informed decisions, monitor crop health, and efficiently manage resources like water and fertilizers, ultimately leading to sustainable and productive farming.

According to a report published by the Food and Agriculture Organization, an Italy-based United Nations agency that provides information and support for sustainable agriculture, in 2021, acute food insecurity at crisis or worse levels was faced by almost 193 million people in 53 countries or territories (IPC/CH Phases 3-5), an increase of over 40 million people.

Market Dynamics: 

Driver: 

Rising demand for food

The market is witnessing a significant surge in demand for food due to rapid population growth and increasing urbanization. Advanced technologies such as IoT, AI, and data analytics are being integrated into farming practices to enhance productivity, reduce waste, and optimize resource usage. These innovations are crucial in meeting the growing food demand sustainably while addressing challenges like climate change, limited arable land, and water scarcity. Consequently, investments in smart agricultural solutions are accelerating, driving market growth.

Restraint:

Lack of infrastructure and connectivity

The market faces significant challenges due to the lack of infrastructure and connectivity. Many rural areas lack reliable internet access, which is essential for real-time data collection and remote monitoring. Insufficient infrastructure, such as sensors, drones, and automated systems, hinders the adoption of advanced technologies. This digital divide limits farmers' ability to utilize precision farming techniques, reducing efficiency and productivity. Addressing these challenges requires substantial investment in rural broadband and modern agricultural infrastructure.

Opportunity:

Increased profitability and sustainability

Increased profitability and sustainability in the market are driven by precision farming techniques and IoT integration, optimizing resource use and reducing waste. Advanced data analytics and AI provide farmers with actionable insights, enhancing crop yields and lowering operational costs. Sustainable practices, such as soil health monitoring and efficient water management, further boost productivity while minimizing environmental impact. 

Threat:

Limited farmer knowledge and skills

In the market, limited farmer knowledge and skills pose significant challenges. Many farmers lack familiarity with advanced technologies and data-driven farming practices, leading to suboptimal adoption and utilization. This knowledge gap hinders effective implementation of precision farming, IoT devices, and data analytics, resulting in reduced productivity and sustainability. Bridging this gap through education, training, and accessible resources is crucial for maximizing the benefits of Smart Agriculture and driving innovation in the sector.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Smart Agriculture market, accelerating the adoption of advanced technologies due to labor shortages and supply chain disruptions. Farmers increasingly turned to automation, IoT, and AI-driven solutions to maintain productivity and ensure food security. This shift highlighted the importance of digital tools in managing agricultural processes, boosting investments in smart farming technologies. Despite initial setbacks, the crisis ultimately underscored the sector's resilience and potential for innovation-driven growth.

The feeding management segment is expected to be the largest during the forecast period

The feeding management is expected to be the largest during the forecast period. These innovations enhance efficiency, reduce waste, and improve yields by providing precise feeding schedules and nutrient management. Key players offer automated feeding systems, sensors for real-time monitoring, and software for data-driven decisions. As sustainability and productivity become paramount, this market is poised for significant growth, driven by increasing demand for smart farming solutions globally.

The aquaculture segment is expected to have the highest CAGR during the forecast period

The aquaculture segment is expected to have the highest CAGR during the forecast period. Aquaculture is a vital component of smart agriculture, leveraging advanced technologies for sustainable fish and seafood farming. Innovations such as IoT devices, automated feeding systems, and water quality sensors enhance efficiency and productivity. Smart aquaculture minimizes environmental impact through precise monitoring and management of resources, ensuring optimal conditions for aquatic life.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by technological advancements and increasing adoption of precision farming techniques. Innovations such as IoT sensors, drones, and AI-driven analytics are revolutionizing farming practices, enhancing productivity, and optimizing resource utilization. Moreover, favorable government initiatives promoting sustainable agriculture practices further propel market expansion.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The countries are embracing technological advancements such as Internet of Things (IoT), precision agriculture, drones, and AI-based analytics to optimize farming practices, improve crop yield, and reduce operational costs. With a rapidly growing population, there is increasing pressure on agricultural productivity to meet the rising food demand. Smart agriculture technologies help farmers maximize their yield while efficiently utilizing resources.

Key players in the market

Some of the key players in Smart Agriculture market include Trimble Inc., Deere & Com, Topcon Positioning Systems, AKVA Group, Afimilk Ltd., CLAAS KGaA mbH, Allflex Livestock Intelligence, Farmers Edge Inc, Heliospectra AB, AGCO Corporation, Granular, Inc., Grownetics, Inc., Raven Industries, Innovasea Systems Inc. and GEA Group Aktiengesellschaft.

Key Developments:

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 April 2023, AGCO Corporation announced a strategic collaboration with Hexagon, for the expansion of AGCO’s factory-fit and aftermarket guidance offerings. The new guidance system was planned to be commercialized as Fuse Guide on Valtra and Massey Ferguson tractors.

Types Covered:
• Precision Farming
• Livestock Monitoring
• Precision Aquaculture
• Precision Forestry
• Smart Greenhouse
• Other Types

Offerings Covered:
• Software
• Services
• Hardware

Applications Covered:
• Inventory Management
• Farm Labor Management
• Feeding Management
• Milk Harvesting Management
• Breeding Management
• Genetics and Nurseries
• Yield Monitoring and Harvesting
• Other Applications

End Users Covered:
• Horticulture
• Agricultural Cooperatives
• Agribusinesses
• Research Institutions
• Aquaculture
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology      
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions      
          
3 Market Trend Analysis       
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats        
 3.6 Application Analysis      
 3.7 End User Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
          
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry       
          
5 Global Smart Agriculture Market, By Type      
 5.1 Introduction       
 5.2 Precision Farming       
 5.3 Livestock Monitoring      
 5.4 Precision Aquaculture      
 5.5 Precision Forestry       
 5.6 Smart Greenhouse       
 5.7 Other Types       
          
6 Global Smart Agriculture Market, By Offering     
 6.1 Introduction       
 6.2 Software        
  6.2.1 AI and Data Analytics     
  6.2.2 Farm Management Software     
 6.3 Services        
  6.3.1 System Integration and Consulting Services   
  6.3.2 Managed Services      
  6.3.3 Assisted Professional Services     
  6.3.4 Maintenance and Support Services    
 6.4 Hardware       
  6.4.1 Displays       
  6.4.2 Soil Sensors      
  6.4.3 Irrigation Controllers     
  6.4.4 Drones       
          
7 Global Smart Agriculture Market, By Application      
 7.1 Introduction       
 7.2 Inventory Management      
 7.3 Farm Labor Management      
 7.4 Feeding Management      
 7.5 Milk Harvesting Management      
 7.6 Breeding Management      
 7.7 Genetics and Nurseries      
 7.8 Yield Monitoring and Harvesting     
 7.9 Other Applications       
          
8 Global Smart Agriculture Market, By End User     
 8.1 Introduction       
 8.2 Horticulture       
 8.3 Agricultural Cooperatives      
 8.4 Agribusinesses       
 8.5 Research Institutions      
 8.6 Aquaculture       
 8.7 Other End Users       
          
9 Global Smart Agriculture Market, By Geography     
 9.1 Introduction       
 9.2 North America       
  9.2.1 US       
  9.2.2 Canada       
  9.2.3 Mexico       
 9.3 Europe        
  9.3.1 Germany       
  9.3.2 UK       
  9.3.3 Italy       
  9.3.4 France       
  9.3.5 Spain       
  9.3.6 Rest of Europe      
 9.4 Asia Pacific       
  9.4.1 Japan       
  9.4.2 China       
  9.4.3 India       
  9.4.4 Australia       
  9.4.5 New Zealand      
  9.4.6 South Korea      
  9.4.7 Rest of Asia Pacific      
 9.5 South America       
  9.5.1 Argentina      
  9.5.2 Brazil       
  9.5.3 Chile       
  9.5.4 Rest of South America     
 9.6 Middle East & Africa      
  9.6.1 Saudi Arabia      
  9.6.2 UAE       
  9.6.3 Qatar       
  9.6.4 South Africa      
  9.6.5 Rest of Middle East & Africa     
          
10 Key Developments        
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 10.2 Acquisitions & Mergers      
 10.3 New Product Launch      
 10.4 Expansions       
 10.5 Other Key Strategies      
          
11 Company Profiling        
 11.1 Trimble Inc.       
 11.2 Deere & Com       
 11.3 Topcon Positioning Systems      
 11.4 AKVA Group       
 11.5 Afimilk Ltd.       
 11.6 CLAAS KGaA mbH       
 11.7 Allflex Livestock Intelligence      
 11.8 Farmers Edge Inc       
 11.9 Heliospectra AB       
 11.10 AGCO Corporation       
 11.11 Granular, Inc.       
 11.12 Grownetics, Inc.       
 11.13 Raven Industries       
 11.14 Innovasea Systems Inc.      
 11.15 GEA Group Aktiengesellschaft      
          
List of Tables         
1 Global Smart Agriculture Market Outlook, By Region (2022-2030) ($MN)   
2 Global Smart Agriculture Market Outlook, By Type (2022-2030) ($MN)   
3 Global Smart Agriculture Market Outlook, By Precision Farming (2022-2030) ($MN)  
4 Global Smart Agriculture Market Outlook, By Livestock Monitoring (2022-2030) ($MN) 
5 Global Smart Agriculture Market Outlook, By Precision Aquaculture (2022-2030) ($MN) 
6 Global Smart Agriculture Market Outlook, By Precision Forestry (2022-2030) ($MN)  
7 Global Smart Agriculture Market Outlook, By Smart Greenhouse (2022-2030) ($MN)  
8 Global Smart Agriculture Market Outlook, By Other Types (2022-2030) ($MN)  
9 Global Smart Agriculture Market Outlook, By Offering (2022-2030) ($MN)  
10 Global Smart Agriculture Market Outlook, By Software (2022-2030) ($MN)  
11 Global Smart Agriculture Market Outlook, By AI and Data Analytics (2022-2030) ($MN) 
12 Global Smart Agriculture Market Outlook, By Farm Management Software (2022-2030) ($MN) 
13 Global Smart Agriculture Market Outlook, By Services (2022-2030) ($MN)   
14 Global Smart Agriculture Market Outlook, By System Integration and Consulting Services (2022-2030) ($MN)
15 Global Smart Agriculture Market Outlook, By Managed Services (2022-2030) ($MN)  
16 Global Smart Agriculture Market Outlook, By Assisted Professional Services (2022-2030) ($MN)
17 Global Smart Agriculture Market Outlook, By Maintenance and Support Services (2022-2030) ($MN)
18 Global Smart Agriculture Market Outlook, By Hardware (2022-2030) ($MN)  
19 Global Smart Agriculture Market Outlook, By Displays (2022-2030) ($MN)   
20 Global Smart Agriculture Market Outlook, By Soil Sensors (2022-2030) ($MN)  
21 Global Smart Agriculture Market Outlook, By Irrigation Controllers (2022-2030) ($MN) 
22 Global Smart Agriculture Market Outlook, By Drones (2022-2030) ($MN)   
23 Global Smart Agriculture Market Outlook, By Application  (2022-2030) ($MN)  
24 Global Smart Agriculture Market Outlook, By Inventory Management (2022-2030) ($MN) 
25 Global Smart Agriculture Market Outlook, By Farm Labor Management (2022-2030) ($MN) 
26 Global Smart Agriculture Market Outlook, By Feeding Management (2022-2030) ($MN) 
27 Global Smart Agriculture Market Outlook, By Milk Harvesting Management (2022-2030) ($MN)
28 Global Smart Agriculture Market Outlook, By Breeding Management (2022-2030) ($MN) 
29 Global Smart Agriculture Market Outlook, By Genetics and Nurseries (2022-2030) ($MN) 
30 Global Smart Agriculture Market Outlook, By Yield Monitoring and Harvesting (2022-2030) ($MN)
31 Global Smart Agriculture Market Outlook, By Other Applications (2022-2030) ($MN) 
32 Global Smart Agriculture Market Outlook, By End User (2022-2030) ($MN)  
33 Global Smart Agriculture Market Outlook, By Horticulture (2022-2030) ($MN)  
34 Global Smart Agriculture Market Outlook, By Agricultural Cooperatives (2022-2030) ($MN) 
35 Global Smart Agriculture Market Outlook, By Agribusinesses (2022-2030) ($MN)  
36 Global Smart Agriculture Market Outlook, By Research Institutions (2022-2030) ($MN) 
37 Global Smart Agriculture Market Outlook, By Aquaculture (2022-2030) ($MN)  
38 Global Smart Agriculture Market Outlook, By Other End Users (2022-2030) ($MN)  
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials