Global Smart Agriculture Market – Industry Trends and Forecast to 2030

Global Smart Agriculture Market, By Agriculture Type (Precision Farming, Precision Forestry, Livestock Monitoring, Smart Greenhouse, Precision Aquaculture, Others), Solution (Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, Others), Offering (Hardware, Software, Services), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Labor Management, Financial Management, Feeding Management, Milk Harvesting, Breeding Management, Fish Tracking and Fleet Navigation, Water Quality Management, HVAC Management, Others) - Industry Trends and Forecast to 2023 to 2030.

Smart Agriculture Market Analysis and Size

Smart agriculture is a process of performing agricultural activities using advanced technologies. Also the smart agriculture is an innovative way of carrying out farming activities by dropping human efforts and by making utmost utilization of the available resources.

The smart agriculture market is likely to gain growth, due to the high adoption of advanced technologies such as IOT and AI in aquaculture farms. Also the growing prominence on tumbling management cost by adopting advanced livestock monitoring products and rising focus of farmers on livestock monitoring and disease detection are expected to drive the market for smart agriculture over the forecast period of 2023 to 2030.

In addition, the growing use of unmanned aerial vehicles or drones in agricultural farms and increasing popularity of land-based recirculating aquaculture systems will accelerate various growth opportunities that will enhance the growth of the smart agriculture market in the forecast period of 2023 to 2030.

Data Bridge Market Research analyses that the global smart agriculture market which was USD 8,267.38 million in 2022, is expected to reach USD 12,998.90 million by 2030, growing at a CAGR of 6.1% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Smart Agriculture Market Scope and Segmentation

Market Definition

Smart agriculture, often referred to as precision agriculture or digital farming, is an approach to farming that utilizes technology and data-driven methods to optimize various aspects of agricultural production. It aims to improve efficiency, sustainability, and productivity in farming while reducing resource waste and environmental impact.

Global Smart Agriculture Market Dynamics

Drivers

• Growing Global Population

The world's population is expected to reach over 9 billion by 2050, necessitating increased agricultural output. Smart agriculture employs technology to optimize crop yields and livestock production, ensuring efficient food production to meet rising demand.

• Limited Arable Land

The amount of available arable land is finite, and expanding agricultural areas can lead to deforestation and environmental degradation. Smart agriculture focuses on maximizing productivity on existing farmland by using data-driven techniques for cultivation and resource management.

• Climate Change

Climate change has resulted in unpredictable weather patterns, droughts, and extreme weather events. Smart agriculture relies on real-time weather data, climate modelling, and predictive analytics to help farmers adapt their practices, optimize planting and harvesting times, and manage risks associated with climate variability.

Opportunity

• Rising Focus on Incorporation of Smartphones with Agricultural Hardware and Software Application

The rising focus on incorporating smartphones with agricultural hardware and software applications is a significant trend within the smart agriculture market. This trend is driven by the increasing accessibility of smartphones, their powerful capabilities, and the potential they offer to enhance various aspects of farming and agricultural management. Smartphones are now widely accessible and used by people in both urban and rural areas. Farmers and agricultural workers often already own smartphones, making them a practical tool for incorporating into smart agriculture systems without significant additional investment. Smartphones are equipped with various connectivity options, including mobile data, Wi-Fi, and Bluetooth. This connectivity allows them to communicate with other agricultural hardware and software components, creating a seamless network of data sharing and remote control.

Restraints/Challenges

• Lack of Technical Expertise

Implementing and managing smart agriculture systems requires technical knowledge and skills. Many farmers, especially in rural areas, may lack the necessary expertise to set up and maintain these technologies effectively.

• Connectivity Challenges

Smart agriculture relies on reliable internet connectivity, which can be inconsistent or unavailable in rural and remote farming regions. Poor connectivity can limit the real-time data exchange and remote monitoring capabilities of smart systems.

This smart agriculture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart agriculture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In November 2020, Ag Leader Technology upgraded its InCommand displays and added built-in-house SteerCommand Z2 and SteadySteer to its SteerCommand product portfolio. These products provide end-users with a single user interface that steers and controls all farming equipment
• In January 2020, CropMetrics was acquired by CropX, a leading soil and agricultural analytics company, to expand into the U.S. market. This acquisition was intended to leverage CropMetrics’s vast dealer network, service model, user-friendly platform, and Variable Rate Irrigation System to serve product offerings in major regions of the U.S.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Smart Agriculture Market Scope

Smart agriculture market is segmented on the basis of agriculture type, solution, offering and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Agriculture Type

• Precision Farming
• Precision Forestry
• Livestock Monitoring
• Smart Greenhouse
• Precision Aquaculture
• Others

Solution

• Network Management
• Agriculture Asset Management
• Supervisory Control and Data Acquisition
• Logistics and Supply Chain Management
• Smart Water Management
• Others

Offering

• Hardware
• software
• services

Application

• Yield Monitoring
• Field Mapping
• Crop Scouting
• Weather Tracking and Forecasting
• Irrigation Management
• Farm Labor Management
• Financial Management
• Feeding Management
• Milk Harvesting
• Breeding Management
• Fish Tracking
• Fleet Navigation
• Water Quality Management
• HVAC Management
• Others

Global Smart Agriculture Market Regional Analysis/Insights

Smart agriculture market is analyses and market size, volume information is provided by agriculture type, solution, offering and application as referenced above.

The countries covered in the smart agriculture market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA)

North America leads the smart agriculture market because of the increasing adoption of advanced technologies in agricultural activities in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2023 to 2030 owing to the increasing global food demand and growing awareness regarding smart agriculture practices in this particular region.

The country section of the smart agriculture market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and up-stream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Smart Agriculture Market Share Analysis

The global smart agriculture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company's focus related to smart agriculture market.

Some of the major players operating in the global smart agriculture market is:

• Ag Leader Technology (U.S.)
• AGCO Corporation (U.S.)
• CNH INDUSTRIAL N.V. (U.K.)
• AgJunction (U.S.)
• Raven Industries, Inc. (U.S.)
• Precision Planting LLC. (U.S.)
• SemiosBio Technologies Inc.(Canada)
• LexisNexis Risk Solutions Group (U.S.)
• The Climate Corporation (U.S.)
• Topcon (Japan)
• Trimble Inc. (U.S.)
• CropZilla (U.S.)
• Certhon (Netherlands)
• DeLaval (Sweden)
• AgEagle Aerial Systems Inc. (U.S.)
• Auroras s.r.l. (Italy)
• AgriData Incorporated (U.S.)
• Deere & Company (U.S.)
• Aker Technologies, Inc. (U.S.)
• Grownetics, Inc. (U.S.)