Global Smart Agriculture Market Size, Share

Industry Insights

[235+ Pages Report] The latest finding surrounding the “Global Smart Agriculture Market” has recently been published by Facts & Factors in a neatly packaged and comprehensive read. We at Facts & Factors estimate that the global smart agriculture market will reach a projected value of USD 22.5 Billion by 2026 with a growth rate of 8.9% CAGR from an initial value of USD 15.3 Billion in 2020.

Market Overview

Smart agriculture or digital agriculture refers to the set of tools that digitally collect, store, analyze and share other electronic data in the management of regulating all forms of agricultural supply chain analysis. Smart agriculture has the ability to impact the entire food chain before, after, and during on-farm production processes. Smart agriculture includes tools such as yield mapping, GPS guidance systems, and variable-rate application to name a few.

Industry Growth Factors

The primary driving factors for the global smart agriculture market can be contributed to increasing pressure on food supply system coupled with increasing populous regions on a global scale to name a few. Additionally, surging usage of modern technologies in agricultural products and the intended focus of farmers inlivestock monitoring and disease detection is expected to increase the footprint of the global smart agriculture market during the forecast period. Moreover, increasing investments rounds by the private and public sector coupled with demands pertaining to reduction of resources is expected to open new revenue opportunities for the global smart agriculture market during the forecast period.

The global smart agriculture market is expected to be driven by increasing automation of commercial greenhouses and rising implementation of controlled environment agriculture for yielding a higher output and maintain maximum growing conditions to name a few. Factors pertaining to increasing amount of cultivators coupled with cost-effective benefits is expected to boost the global smart agriculture market during the forecast period. However, high upfront cost for deployment coupled with a lack of skilled technician is expected to decrease the growth of the global smart agriculture market during the forecast period.

Segmentation Analysis

The global smart agriculture market is segmented into type, offering, application, and region.

On the basis of type, the global smart agriculture market can be broken into precision farming, livestock monitoring, smart greenhouse, and others. The segment pertaining to livestock monitoring is expected to witness the largest market share during the advent of the forecast owing to the integration of advanced factors such as real-time monitoring of health, production values, and welfare of livestock for ensuring optimal yields coupled with rising size of dairy farms to name a few. On the basis of offering, the global smart agriculture market is divided into hardware, software, and services. The segment pertaining to software is expected to witness the largest market share during the advent of the forecast owing to rising automation needs for raw material production coupled with rising product manufacturing in the dairy and food sector to name a few. On the basis of application, the global smart agriculture market is fragmented into irrigation management, yield management, crop scouting, field mapping, weather tracking and forecasting, inventory management, and farm labor management. The weather monitoring and forecasting category is expected to witness the largest market share during the advent of the forecast owing to rising demand for monitoring of continuous crop-growth coupled with increasing water scarcity and rising environmental consciousness among consumers to name a few.

Report Scope

Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to rising government initiatives and regulations aimed at enhancing the agriculture sector coupled with integration of various global agricultural agencies to name a few. Additionally, rising concerns for water scarcity among consumers in the region coupled with increasing amounts of subsidiaries for implementing smart agricultural measures is expected to increase the footprint of the smart agriculture market during the forecast period. Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast owing to rising government support coupled with increasing awareness among cultivators to name a few.

Competitive Players

The key market participants in the global smart agriculture market are AG Leader Technology, AGCO Corporation, AgJunction, Inc., AgEagle Aerial Systems, Inc., Autonomous Solutions, Inc., BouMatic Robotic B.V., CropMetrics, CLAAS KGaA mbH, CropZilla, Deere & Company, DICKEY-john, DeLaval, Inc., Farmers Edge, Inc., Grownetics, Inc., Granular, Raven Industries, and Trimble, Inc., among others.

By Type Segment Analysis

• Precision Farming
• Livestock Monitoring
• Smart Greenhouse
• Others

By Offering Segment Analysis

• Hardware
  • Automated & Control Systems
  • Sensing Devices
  • HVAC System
  • Led Grow Light
  • RFID Tags
• Software
  • Web-based
  • Cloud-based
• Services
  • System Integration & Consulting
  • Maintenance & Support
  • Managed Services
  • Professional Services

By Application Segment Analysis

• Irrigation Management
• Yield Management
• Crop Scouting
• Field Mapping
• Weather Tracking & Forecasting
• Inventory Management
• Farm Labor Management