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Global Smart Farming Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Upcoming Report
  • Aug 2023
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Smart Farming Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 12.86% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 12.80 Billion
Diagram Market Size (Forecast Year) USD 33.69 Billion
Diagram CAGR 12.86%

Global Smart farming Market, By Agriculture Type (Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, Others), Software (Web Based, Cloud Based), Service (System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, Professional Services), Solution (Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, Others), 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 2030.

Smart Farming Market

Smart Farming Market Analysis and Size

Smart farming is being widely adopted globally as it enhances the yield per unit of farming land to acquire best in terms of quantity, quality, and financial returns. The technology assists in better decision making, reduces waste and maximizes efficiency in operations.

Global smart farming market was valued at USD 12.80 billion in 2021 and is expected to reach USD 33.69 billion by 2030, registering a CAGR of 12.86% during the forecast period of 2023-2030. Livestock Monitoring accounts for the largest agriculture type segment in the respective market owing to the rise in consciousness regarding health of animals. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Smart Farming Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Agriculture Type (Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, Others), Software (Web Based, Cloud Based), Service (System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, Professional Services), Solution (Network Management, Agriculture Asset Management, Supervisory Control and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, Others), 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)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Grownetics, Inc. (U.S.), Auroras s.r.l. (Italy), Granular, Inc. (San Francisco), TOPCON CORPORATION (Japan), The Climate Corporation (U.S.), Farmers Edge Inc (Canada), DICKEY-john. (U.S.), Conservis (U.S.), Ag Leader Technology. (U.S.), Raven Industries, Inc. (U.S.), Iteris, Inc. (U.S.), Reed Business Information Ltd (U.S.), AgJunction (Canada), Trimble Inc. (U.S.), Deere & Company. (U.S.), Mothive (U.S.), CropX inc. (U.S.), Ceres Imaging, Inc (U.S.), GAMAYA (Switzerland), AgriData Incorporated. (U.S.), AgEagle Aerial Systems Inc. (U.S.), and Aker Solutions (Norway) among others

Market Opportunities

  • Use of unmanned aerial vehicles or drones in agricultural farms
  • Use of modern technologies such as variable rate technology (VRT) and data management software
  • Availability of various sensors such as load, temperature, and vibration

Market Definition

Smart faming is defined as application of one or more than one technology in the farming process to gain more efficiency and effectiveness. It is the advanced and innovative way of doing farming to get the maximum output and to reduce the human efforts. Advance technology includes usage of hardware, service and software to the process of farming. The technology includes irrigation management, scouting of crops, harvesting, and seeding.

Global Smart Farming Market Dynamics

Drivers

  • Use of Modern Technologies in Agricultural Products

The use of modern technologies such as variable rate technology (VRT), data management software, mapping software, yield mapping software, and GPS in agricultural products is one of the major factors driving the growth of smart farming market. These technologies improve land fertility and profitability, maximize productivity, reduce the cost of farming and facilitate sustainable agriculture.

  • Concerns regarding Soil Erosion

The increase in the concerns regarding soil erosion encouraging farmers to adopt advanced agricultural technologies further influence the market. The status of soil condition plays a crucial role in decision making regarding sustainable soil management and appropriate land use that is acquired with the help of modern agricultural solutions.

In addition, rapid urbanization, change in lifestyle, expansion of agricultural sector, surge in investments and increase in government initiatives positively impact the smart farming market.

  • Rise in the usage of IoT solutions

Industry 4.0 and the Industrial internet of things (IoT) have increased demand for diagnostics and mobile-based access, which will propel the industry forward. The existence of the multinational corporations funding in the research and development for industrial technologies, industrial Internet of Things (IoT) and as well as the cloud technology are the factors that will further boost the growth of the smart farming market.

Opportunity

  • Technological Advancements and Innovation

Furthermore, use of unmanned aerial vehicles or drones in agricultural farms and popularity of land-based recirculating aquaculture systems extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in focus on integration of smartphones with agricultural hardware and software applications will further expand the market.

Restraint/Challenge

  • Workforce Skill Enhancement and Retraining

The increasing adoption of smart farming requires companies to invest in retraining and upskilling their workforce to adapt to the changing work environment. Employees need to acquire new skills to collaborate effectively with robots, manage robotic systems, and perform tasks that complement and support robotic operations. Retraining programs and initiatives are crucial to ensure a smooth transition and maximize the benefits of industrial automation while safeguarding employment opportunities.

This global smart farming market  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 farming market   contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

  • In March’2021, DeLaval launched RC550 & RC700, a robot collector designed for solid floors. These products enhance cow comfort and hoof condition. These robots are capable of handling manure without using additional water due to their unique rotary manure intake system
  • In November 2021, John Deere added a new Work Planner feature to help farmers in streamlining their work setup experience. They assist operators work more quickly in the field, and provides farmers with a holistic tool to manage their farms.

Global Smart Farming Market Scope

The smart farming market is segmented on the basis of agriculture type, software, services, solution and application. The growth amongst these segments will help you analyse meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Agriculture Type

Software

  • Web Based
  • Cloud Based

Service

  • System Integration and Consulting
  • Support and Maintenance
  • Connectivity Services
  • Managed Services
  • Professional Services

Solution

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

Global Smart Farming Market Regional Analysis/Insights

The smart farming market is analysed and market size insights and trends are provided by country, agriculture type, software, services, solution, and application, as referenced above.  

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

North America is expected to dominate the smart farming market because of the gradual deployment of smart agriculture services within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the adoption of variable rate technology and smart irrigation controllers, and AI-based farm analytics services in the region.  

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Semiconductor Infrastructure growth Installed base and New Technology Penetration

The global smart farming market also provides you with a detailed market analysis for every country’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for global smart farming market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the smart farming market . The data is available for the historic period 2010-2020.

Competitive Landscape and Global smart farming market Share Analysis

The smart farming market competitive landscape provides details by competitors. 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, and application dominance. The above data points provided are only related to the companies' focus related to global smart farming market.

Some of the major players operating in the global smart farming market are:

  • Grownetics, Inc. (U.S.)
  • Auroras s.r.l. (Italy)
  • Granular, Inc. (San Francisco)
  • TOPCON CORPORATION (Japan)
  • The Climate Corporation (U.S.)
  • Farmers Edge Inc (Canada)
  • DICKEY-john. (U.S.)
  • Conservis (U.S.)
  • Ag Leader Technology. (U.S.)
  • Raven Industries, Inc. (U.S.)
  • Iteris, Inc. (U.S.)
  • Reed Business Information Ltd (U.S.)
  • AgJunction (Canada)
  • Trimble Inc. (U.S.)
  • Deere & Company. (U.S.)
  • Mothive (U.S.), CropX inc. (U.S.)
  • Ceres Imaging, Inc (U.S.)
  • GAMAYA (Switzerland)
  • AgriData Incorporated. (U.S.)
  • AgEagle Aerial Systems Inc. (U.S.)
  • Aker Solutions (Norway)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Smart Farming Market will be worth USD 33.69 billion by 2030.
The Smart Farming Market Growth Rate is 12.86% during the forecast period.
The Use of Modern Technologies in Agricultural Products, Concerns regarding Soil Erosion and Rise in the usage of IoT solutions are the Growth drivers of the Smart Farming Market.
The agriculture type, software, services, solution and application are the factors on which the Smart Farming Market Research is based.
The DeLaval launched RC550 & RC700, a robot collector designed for solid floors. These products enhance cow comfort and hoof condition. and ohn Deere added a new Work Planner feature to help farmers in streamlining their work setup experience. They assist operators work more quickly in the field, and provides farmers with a holistic tool to manage their farms are the latest developments in the Smart Farming Market.
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