Smart Agriculture Market

Global Smart Agriculture Market Size, Trends & Analysis - Forecasts to 2026 By Agriculture Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse, Others), By Offering (Hardware, Software, Services), By Application (Irrigation Management, Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking And Forecasting, Inventory Management, and Farm Labor Management), By Farm Size (Small, Medium, Large), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis

Category Food & Beverages

Format

This report was recently updated on March 20 2023 with the latest and most recent market numbers

Smart Agriculture Market Size

The global smart agriculture market is projected to grow from USD 13.1 billion in 2021 to USD 20.6 billion by 2026 at a CAGR value of 9.7%. Agricultural industry is witnessing a technological revolution, which is being backed by policymakers and launch of latest technologies all across the globe.

The smart agriculture market is expected to be driven by rising demand for sustainable farming techniques and innovations that are useful to minimize the use of non-renewable energy resources and embrace sustainable agronomic practices. Also, crops developed employing cutting-edge and environmentally responsible farming practices such as Ultra-High-Density Plantation (UHDP), optimal pesticide and fertiliser use, are also of high quality. This approach shields customers from exposure to toxins and other harmful contaminants, providing numerous health benefits which will also boost the market growth.

The other factors supporting the growth of the market are rising advancement and implementation of technologies like artificial intelligence (AI) and internet of things (IoT) in agricultural industry and rising pressure on food supply system, owing to rapidly growing population.

Precision farming and contract agriculture are models of sustainable and ethical farming approaches that assist farmers improve their economic and social status while minimising their need on subsidies and concessions to live a good life. Furthermore, rising adoption of technologies such as crop rotation, crop diversification, and the use of renewable resources all assist to the transition to sustainable farming and are prime factors driving the markets growth throughout the forecast period.

Modern agricultural tools such as mapping software, variable rate technology (VRT), yield mapping software, GIS, GPS, and data management software help to improve land fertility and profitability, facilitate sustainable agriculture, increase production, and lower farming costs. Two significant aspects that promote the introduction of smart agricultural instruments are increased business efficiency through process automation and greater production with lower farming costs.

The principal elements driving the demand for smart tools are the rising adoption of automated commercial greenhouses and the growing use of the Controlled Environment Agriculture (CEA) concept in greenhouses in order to produce higher yields and maintain optimal growth conditions.

Agriculture 4.0 appears to be gaining traction, based on signals from policymakers and the corporate sector. The UK Secretary of State for Business has announced a Euro 90 million worth to spur a "technological revolution" in agricultural production, putting the UK in the "forefront" of innovative sustainable farming. Greece has announced that agriculture will be digitised, with cloud computing and the internet of things at the forefront. Agri-tech breakthroughs have been anticipated all across the world, including in Japan, other Asian countries, and Australia.

The COVID-19 epidemic had caused considerable disruption in the global supply system, which resulted in food shortages and variation in prices. Measures were taken to enhance the food supply chain and increase the fold of food production volume using advanced low cost smart tools. Moreover, the current pandemic has highlighted the need of being able to conduct agricultural activities remotely. Hence, the market growth is likely to be driven by increasing need to adopt smart agricultural practises to assist farmers in order to recuperate losses during the forecast period.

global smart agriculture market

Smart Agriculture Market: By Agriculture Type

Based on the agriculture type, the market is segmented into precision farming, livestock monitoring, precision aquaculture, precision forestry, smart greenhouse, and others. The precision farming segment is expected to have the largest share in the market during the forecast period. The growing emphasis on agricultural performance and profitability can be ascribed to this substantial share. Precision farming equipment have the power to transform the agricultural industry for the better, rendering conventional farming activities more effective and reliable.

Smart Agriculture Market: By Offering

Based on offering, the market is divided into hardware, software, services. The software segment is anticipated to have the largest share in the market during the forecast period. The use of current software technologies in farm commodities, such as navigation apps, output mapping software, GPS, and data analysis software, aids farmers in warning poor weather conditions and allows them to make better & informed decisions about their crops. Farm management software includes websites, mobile applications, and software programs designed specifically for the farming sector. It assists farmers in their day-to-day tasks, makes it so much easier to supervise personnel, enhances agricultural record-keeping, and assists with compliance with regulations.

Smart Agriculture Market: By Application

Based on application, the market is segmented into irrigation management, yield monitoring, crop scouting, field mapping, weather tracking and forecasting, inventory management, and farm labor management. The weather monitoring and forecasting segment is anticipated to witness the largest share in the market during the forecast period. This is due to the rising demand for monitoring the phases of crop growth and monitoring and analyzing waste production of water and minerals.

asia pacific smart agriculture market

Smart Agriculture Market: By Region

Based on region, the market can be broken into various regions such as North America, Europe, Central, and South America, the Middle East and Africa, and Asia Pacific.

The North American region is expected to have a lions share in the market during the forecast period. The rising number of government activities and norms to improve the regions agricultural business are predicted to stimulate North American market growth. Governments in North America are actively giving subsidies to expand the applications of smart irrigation in response to the growing concern about water conservation. The state of California, for example, has offered a discount for smart controllers.

The Asia Pacific region is expected to be the fastest growing segment during the forecast period. With extensive government assistance and rising awareness & knowledge about smart tools within small and mid-level farmers are helping the APAC market to propel.

Smart Agriculture Market Share and Competitor Analysis

AGCO Corporation, Ag Leader Technology, AgEagle Aerial Systems Inc., AgJunction, Inc., BouMatic Robotic B.V., Argus Control Systems Ltd, Deere & Company, Crop Metrics, Drone Deploy, Farmers Edge Inc., among others, are the key players in the smart agriculture market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Smart Agriculture Industry Overview, 2020-2026

2.1.1 Industry Overview

2.1.2 Agricultural Type Overview

2.1.3 Offering Overview

2.1.4 Application Overview

2.1.6 Regional Overview

Chapter 3 Smart Agriculture Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2020-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Rapid adoption of sustainable farming techniques and innovations

3.3.2 End-User Challenges

3.3.2.1 High investment necessary for the deployment of various components in agriculture

3.4 Prospective Growth Scenario

3.4.1 Agricultural Type Growth Scenario

3.4.2 Offering Growth Scenario

3.4.3 Application Growth Scenario

3.5 COVID-19 Influence over End-User Growth

3.6 Porters Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Application Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Smart Agriculture Market, By Agricultural Type

4.1 Agricultural Type Outlook

4.2 Precision Farming

4.2.1 Market Size, By Region, 2020-2026 (USD Billion)

4.3 Livestock Monitoring

4.3.1 Market Size, By Region, 2020-2026 (USD Billion)

4.4 Precision Aquaculture

4.4.1 Market Size, By Region, 2020-2026 (USD Billion)

4.5 Precision Forestry

4.5.1 Market Size, By Region, 2020-2026 (USD Billion)

4.6 Smart Greenhouse

4.6.1 Market Size, By Region, 2020-2026 (USD Billion)

4.7 Others

4.7.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 5 Smart Agriculture Market, By Offering

5.1 Offering Outlook

5.2 Hardware

5.2.1 Market Size, By Region, 2020-2026 (USD Billion)

5.3 Software

5.3.1 Market Size, By Region, 2020-2026 (USD Billion)

5.4 Services

5.4.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 6 Smart Agriculture Market, By Application

6.1 Irrigation Management

6.1.1 Market Size, By Region, 2020-2026 (USD Billion)

6.2 Yield Monitoring

6.2.1 Market Size, By Region, 2020-2026 (USD Billion)

6.3 Crop Scouting

6.3.1 Market Size, By Region, 2020-2026 (USD Billion)

6.4 Field Mapping

6.4.1 Market Size, By Region, 2020-2026 (USD Billion)

6.5 Weather Tracking and Forecasting

6.5.1 Market Size, By Region, 2020-2026 (USD Billion)

6.6 Inventory Management

6.6.1 Market Size, By Region, 2020-2026 (USD Billion)

6.7 Farm Labor Management

6.7.1 Market Size, By Region, 2020-2026 (USD Billion)

Chapter 7 Smart Agriculture Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market Size, By Country 2020-2026 (USD Billion)

7.2.2 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.2.3 Market Size, By Offering, 2020-2026 (USD Billion)

7.2.4 Market Size, By Application, 2020-2026 (USD Billion)

7.2.6 U.S.

7.2.6.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.2.4.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.2.4.3 Market Size, By Application, 2020-2026 (USD Billion)

7.2.7 Canada

7.2.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.2.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.2.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3 Europe

7.3.1 Market Size, By Country 2020-2026 (USD Billion)

7.3.2 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.3 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.4 Market Size, By Application, 2020-2026 (USD Billion)

7.3.6 Germany

7.3.6.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.6.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.7 UK

7.3.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.8 France

7.3.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.9 Italy

7.3.9.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.9.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.9.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.10 Spain

7.3.10.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.10.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.10.3 Market Size, By Application, 2020-2026 (USD Billion)

7.3.11 Russia

7.3.11.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.3.11.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.3.11.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4 Asia Pacific

7.4.1 Market Size, By Country 2020-2026 (USD Billion)

7.4.2 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.3 Market Size, By Offering, 2020-2026 (USD Billion)

7.4.4 Market Size, By Application, 2020-2026 (USD Billion)

7.4.6 China

7.4.6.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.6.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.4.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.7 India

7.4.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.4.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.8 Japan

7.4.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.4.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.9 Australia

7.4.9.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.9.2 Market size, By Offering, 2020-2026 (USD Billion)

7.4.9.3 Market Size, By Application, 2020-2026 (USD Billion)

7.4.10 South Korea

7.4.10.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.4.10.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.4.10.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5 Latin America

7.5.1 Market Size, By Country 2020-2026 (USD Billion)

7.5.2 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.5.3 Market Size, By Offering, 2020-2026 (USD Billion)

7.5.4 Market Size, By Application, 2020-2026 (USD Billion)

7.5.6 Brazil

7.5.6.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.5.6.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.5.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5.7 Mexico

7.5.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.5.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.5.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.5.8 Argentina

7.5.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.5.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.5.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6 MEA

7.6.1 Market Size, By Country 2020-2026 (USD Billion)

7.6.2 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.6.3 Market Size, By Offering, 2020-2026 (USD Billion)

7.6.4 Market Size, By Application, 2020-2026 (USD Billion)

7.6.6 Saudi Arabia

7.6.6.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.6.6.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.6.6.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6.7 UAE

7.6.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.6.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.6.7.3 Market Size, By Application, 2020-2026 (USD Billion)

7.6.8 South Africa

7.6.7.1 Market Size, By Agricultural Type, 2020-2026 (USD Billion)

7.6.7.2 Market Size, By Offering, 2020-2026 (USD Billion)

7.6.7.3 Market Size, By Application, 2020-2026 (USD Billion)

Chapter 8 Company Landscape

8.1 Competitive Analysis, 2020

8.2 AGCO Corporation

8.2.1 Company Overview

8.2.2 Financial Analysis

8.2.3 Strategic Positioning

8.2.4 Infographic Analysis

8.3 Ag Leader Technology

8.3.1 Company Overview

8.3.2 Financial Analysis

8.3.3 Strategic Positioning

8.3.4 Infographic Analysis

8.4 AgEagle Aerial Systems Inc

8.4.1 Company Overview

8.4.2 Financial Analysis

8.4.3 Strategic Positioning

8.4.4 Infographic Analysis

8.5 AgJunction, Inc

8.5.1 Company Overview

8.5.2 Financial Analysis

8.5.3 Strategic Positioning

8.5.4 Infographic Analysis

8.6 Argus Control Systems Ltd

8.6.1 Company Overview

8.6.2 Financial Analysis

8.6.3 Strategic Positioning

8.6.4 Infographic Analysis

8.7 Deere & Company

8.7.1 Company Overview

8.7.2 Financial Analysis

8.7.3 Strategic Positioning

8.7.4 Infographic Analysis

8.8 Crop Metrics

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Infographic Analysis

8.9 Drone Deploy

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Infographic Analysis

8.10 Farmers Edge Inc

8.10.1 Company Overview

8.10.2 Financial Analysis

8.10.3 Strategic Positioning

8.10.4 Infographic Analysis

8.11 Other Companies

8.11.1 Company Overview

8.11.2 Financial Analysis

8.11.3 Strategic Positioning

8.11.4 Infographic Analysis

The Global Smart Agriculture Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Smart Agriculture Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global smart agriculture market?

The global smart agriculture market is projected to grow from USD 13.1 billion in 2021 to USD 20.6 billion by 2026 at a CAGR value of 9.7% between 2021 to 2026.

Who are the major vendors in the smart agriculture market?

Which region has the highest market share in the smart agriculture market?

The North American region is estimated to hold the largest share of the smart agriculture market.

What is the Covid-19 impact on the future of the smart agriculture market?

What are the major drivers in the smart agriculture market?

The smart agriculture market is expected to be driven by rising demand for sustainable farming techniques and innovations that are useful to minimize the use of non-renewable energy resources and embrace sustainable agronomic practices. The other factors supporting the growth of the market are rising advancement and implementation of technologies like artificial intelligence (AI) and internet of things (IoT) in agricultural industry and rising pressure on food supply system, owing to rapidly growing population.