The growing need for sustainable agricultural practices and the adoption of precision agriculture technologies to improve crop yields and resource efficiency are the key drivers of the smart agriculture market.

Austin, Aug. 13, 2024 (GLOBE NEWSWIRE) — Recent developments in the smart agriculture market

• Trimble Inc. will launch two precision agriculture displays, the GFX-1060 and GFX-1260, in October 2022.

• Patriot launched innovative spray technology in Australia in February 2022.

• In September 2022, Hexagon technology enabled precise excavator seeding, while John Deere introduced three new self-propelled forage harvesters.

• In April 2021, Topcon Agriculture introduced new receivers and correction services for manual guidance and automatic steering.

The Smart agriculture market share was valued at USD 16.1 billion in 2023 and is expected to reach USD 36.73 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period 2024-2032.

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Key players:

The major players in the smart agriculture market are Argus Control Systems Ltd, Grownetics, Inc., Deere & Company, CropMetrics LLC, DICKEY-john, AGCO Corporation, Ag Leader Technology, AgJunction, Inc., BouMatic Robotic BV, CropZilla, Inc., AgEagle Aerial Systems Inc., Autonomous Solutions , Inc., CLAAS KGaA mbH, DroneDeploy, Farmers Edge, Inc., DeLaval Inc, Granular, Inc., Trimble Inc., Gamaya, GEA Group Aktiengesellschaft, Raven Industries, Inc. and others.

Agriculture faces a daunting task: feeding an estimated 9.1 billion people by 2050, despite a climate emergency disrupting distribution networks. Advanced agricultural techniques, powered by innovations such as artificial intelligence, are pointing in a promising direction. AI is helping farmers adapt to climate change by increasing productivity, predicting weather patterns, and protecting soil health. The transition to sustainable agriculture not only targets the global food supply, but also presents an opportunity for economic growth. Collaboration between the public and private sectors can unlock a $1 trillion market for climate change adaptation, with companies able to improve their sustainability reputation and the resilience of their supply chains by using AI technologies.

Smart Agriculture market Report scope and overview:

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Africa can lead to greater food security and sustainability on the continent.

Africa, which has 36% of arable land and plays a critical role in global emissions, requires immediate intervention. Climate-Smart Agriculture (CSA) offers a solution by increasing productivity, improving climate resilience and reducing emissions. The smart agriculture industry is estimated to grow to US$25.4 billion by 2028, driven by technologies that align with CSA’s goals.

The story continues

North America dominates the smart farming market with a 36% share in 2023. The region’s strong agricultural sector, coupled with technological innovation and government support, is driving market growth. Companies like John Deere and Trimble are leading the way with advanced solutions. The focus on sustainability is further driving the adoption of smart farming practices.

In 2023, Asia Pacific holds a 26% market share in the thriving smart farming industry. Technological advancements as well as the growing livestock and aquaculture industries are driving the market expansion. Rising meat consumption in countries like China and India is driving the need for advanced farming technologies. The region is effectively combining the nutrition of its residents with eco-friendly methods, establishing itself as a crucial figure in the global smart farming scene.

“Software is leading the smart agriculture market.”

In 2023, software will have the largest share of the smart farming market at 56%. It uses information collected by sensors and drones to help farmers make choices. IoT devices and sensors generate rich data that software converts into useful insights. This data-driven method is changing the way farming is done, with software forming the foundation of smart farming.

“Smart agriculture applications are driven by precision agriculture.”

In 2023, precision agriculture dominates the smart agriculture market with a 42% share. It improves resource utilization by adapting techniques to different field locations, resulting in savings, higher yields, and less environmental damage. This data-centric method is critical to solving global food security problems.

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“Important insights for the smart agriculture market”

• Create successful product/service plans.

• Improve your pricing and sales strategies.

• Identify possible partnerships and collaborations

• Use data to make your decisions.

• Recognize the potential for new market growth opportunities.

• Create groundbreaking products and services.

• Improve operational efficiency and resource allocation.

Table of Contents – Key Points

1. Introduction

2. Industry flowchart

3. Research methodology

4. Market dynamics

4.1 Drivers

4.2 Restrictions

4.3 Opportunities

4.4 Challenges

5. Porter’s 5-forces model

6. Pest analysis

7. Smart Agriculture Market Segmentation by Supply

• Hardware

  • Automation & Control

    • Guidance and steering systems

    • GPS/GNSS devices

    • Show

    • Drones

    • Irrigation controls

    • Flow and application control devices

    • Variable rate controller

    • Miscellaneous

  • Sensors and monitoring

    • Yield monitors

    • Soil sensors

      • Temperature sensors

      • Nutrient sensors

      • Humidity sensors

    • Water sensors

    • Climate sensors

  • HVAC system

  • RFID tags and readers

  • LED Grow Lights

• software

  • On site

  • Cloud-based

  • AI and data analysis

  • Farm management software

• service

8. Market segmentation for smart agriculture by farm size

• Small farms

• Medium-sized farms

• Large farms

9. Smart Agriculture Market Segmentation by Farming Type

• Precision agriculture

• Livestock monitoring

• Precision aquaculture

• Precise forestry

• Intelligent greenhouse

• Miscellaneous

10. Smart Agriculture Market Segmentation by Application

• Precision agriculture

• Yield monitoring

• Field mapping

• Plant observation

• Precise forestry

• Livestock monitoring

• Intelligent greenhouse

• Miscellaneous

10. Regional analysis

11. Company profiles

12. Competitive landscape

13. Use case and best practices

14. Conclusion

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