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Smart Agriculture Market Share, Opportunities, Industry 2031
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Smart Agriculture Market Share, Opportunities, Industry 2031

Segments - Smart Agriculture Market by Agriculture Types (Precision Farming, Smart Greenhouse, Livestock Monitoring, and Others) Farm Sizes (Small, Medium, and Large) Applications (Irrigation Management, Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking & forecasting, Inventory management and Network Management), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-3535 | 4.1 Rating | 66 Reviews | 213 Pages | Format : PDF Excel PPT

Report Description


Smart Agriculture Market Outlook 2031

The global smart agriculture market size was USD 20.30 Billion in 2022 and is anticipated to reach USD 62.95 Billion by 2031, expanding at a CAGR of 13.4% during the forecast period, 2023-2031. Smart agriculture is a farming model that specializes in providing the infrastructure for the agricultural business for better yield.

Additionally, several technologies such as extra wireless sensors, Wi-Fi, Zigbee, and low-power wide-area network technology are widely employed in the agricultural practices that enable farmers to produce crops successfully. These smart practices are extensively executed in various agriculture activities such as harvesting, purchasing, planting, and inventory control.

Smart Agriculture Market Outlook

Moreover, the introduction of advanced technology has improved the productivity of organic farming, which includes greenhouse and vertical farming. Further, the smart farming in greenhouses remove the need for regular crop monitoring and offer farmers with optimum production solutions at the same time. The agriculture business is fragmented due to the presence of a large number of minor players. 

  • Integration of advanced technologies such as Artificial Intelligence (AI) and wide access to Internet of Things (IoT) in digital agriculture help to assist in ease of agricultural field monitoring and irrigation automation. This is a key driver of the market.
  • Increasing expansion of commercial greenhouses and wide use of automated solutions to achieve larger yields and maintain optimal growth conditions present another key factor driving the market growth.
  • Rapid adoption of the Controlled Environment Agriculture (CEA) concept in the farming practice is expected to boost the market in the coming years.
  • Owing to the lack of control of the market by centralized operator or a few large players, the implementation of a standardized machine-to-machine (M2M) solution is a major challenging factor. This is projected to hinder the market growth during the forecast period.
  • Introduction of innovative smart agriculture devices that offer low-cost and efficient production of farming crops act as major growth opportunities of the market.

Scope of Smart Agriculture Market Report

The report on the global smart agriculture market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Smart Agriculture Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Agriculture Types (Precision Farming, Smart Greenhouse, Livestock Monitoring, and Others) Farm Sizes (Small, Medium, and Large) Applications (Irrigation Management, Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking & forecasting, Inventory management and Network Management)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Ag Leader Technology; AGCO Corporation; AgJunction Inc.; Autonomous Solutions Inc.; Argus Control Systems Limited; BouMatic; CLAAS KGaA mbH; CropZilla Inc.; Deere & Company.; DICKEY-john; DroneDeploy; DeLaval; Farmers Edge Inc.; Grownetics, Inc.; and Granular, Inc.

Smart Agriculture Market Segment Insights

Agriculture Types Segment Analysis

In the terms of agriculture types, the global smart agriculture market is segmented into precision farming, smart greenhouse, livestock monitoring, and others. The precision farming segment is expected to account for a major proportion of the market in the coming years. One of the major factors driving the growth of the precision farming segment is due to the rising need for food worldwide.

Moreover, the increased focus on enhancing profitability and productivity by applying innovative farming practices presents another key driver of the segment. Precision farming equipment have the potential to transform the agricultural industry, making the agricultural operations more efficient and reliable.

Farm Size Segment Analysis

Based on farm sizes, the market is divided into small, medium, and large. The medium-sized segment held substantial market share in 2020 and is projected to constitute a key market share during the forecast period due to the extensive use of technology in medium-sized farms and availability of several advanced smart farming equipment.

Higher return on investment (RoI), flexibility in the integration of software tools in hardware equipment, and a significant reduction in labor expenses with the use of automated tools are major aspects that push the segment expansion.

Smart Agriculture Market Farm Size

Applications Segment Analysis

Based on applications, the global smart agriculture market is fragmented into irrigation management, yield monitoring, crop scouting, field mapping, weather tracking & forecasting, inventory management, and network management. The network management segment is anticipated to hold significant market share in the coming years as it provides several efficient procedures relating to remote monitoring systems and aids in the analysis of data collected in the field.

Smart water management attempts to reduce human labor, reduce weather hazards, and improve off-season production by using smart water products and chemicals to save from the exhaustion of water and energy resources.

Regional Outlook

In terms of regions, the market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to dominate the market during the targeted period due to wide agricultural practice existing in major economies such as India, China, and other countries of Southeast Asia.

Moreover, the rising adoption rate of smart agriculture technology in the region due to the presence of a large number of the population and growing needs of foods present another key factors of the regional market growth. The growing need for livestock and aquaculture farm automation in the region is anticipated to fuel the expansion of the Asia Pacific market.

Smart Agriculture Market Region

Segments

Agriculture Types

  • Precision Farming
  • Smart Greenhouse
  • Livestock Monitoring
  • Others

Farm Sizes

  • Small
  • Medium
  • Large

Applications

  • Irrigation Management
  • Yield Monitoring
  • Crop Scouting
  • Field Mapping
  • Weather Tracking & Forecasting
  • Inventory Management
  • Network Management

Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key Players

  • Ag Leader Technology
  • AGCO Corporation
  • AgJunction Inc
  • Autonomous Solutions Inc
  • Argus Control Systems Limited
  • BouMatic
  • CLAAS KGaA mbH
  • CropZilla Inc
  • Deere & Company
  • DICKEY-john
  • DroneDeploy
  • DeLaval
  • Farmers Edge Inc
  • Grownetics, Inc
  • Granular, Inc

Competitive Landscape

Key players competing in the global smart agriculture market are Ag Leader Technology; AGCO Corporation; AgJunction Inc.; Autonomous Solutions Inc.; Argus Control Systems Limited; BouMatic; CLAAS KGaA mbH; CropZilla Inc.; Deere & Company.; DICKEY-john; DroneDeploy; DeLaval; Farmers Edge Inc.; Grownetics, Inc.; and Granular, Inc.

These players constantly engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Smart Agriculture Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Agriculture Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Agriculture Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Agriculture Market - Supply Chain
  4.5. Global Smart Agriculture Market Forecast
     4.5.1. Smart Agriculture Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Agriculture Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Agriculture Market Absolute $ Opportunity
5. Global Smart Agriculture Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Smart Agriculture Market Size and Volume Forecast by Applications
     5.3.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Smart Agriculture Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Smart Agriculture Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Smart Agriculture Demand Share Forecast, 2019-2026
7. North America Smart Agriculture Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Smart Agriculture Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Smart Agriculture Market Size and Volume Forecast by Applications
     7.4.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Smart Agriculture Demand Share Forecast, 2019-2026
8. Latin America Smart Agriculture Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Smart Agriculture Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Smart Agriculture Market Size and Volume Forecast by Applications
     8.4.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Smart Agriculture Demand Share Forecast, 2019-2026
9. Europe Smart Agriculture Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Smart Agriculture Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Smart Agriculture Market Size and Volume Forecast by Applications
     9.4.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Smart Agriculture Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Agriculture Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Smart Agriculture Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Smart Agriculture Market Size and Volume Forecast by Applications
     10.4.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Smart Agriculture Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Agriculture Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Smart Agriculture Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Smart Agriculture Market Size and Volume Forecast by Applications
     11.4.1. Irrigation Management Yield Monitoring Crop Scouting Field Mapping Weather Tracking & Forecasting Inventory Management  
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Smart Agriculture Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Smart Agriculture Market: Market Share Analysis
  12.2. Smart Agriculture Distributors and Customers
  12.3. Smart Agriculture Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Ag Leader Technology AGCO Corporation AgJunction Inc Autonomous Solutions Inc Argus Control Systems Limited BouMatic  

Methodology

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