Smart Agriculture Market
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
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
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
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