Smart Agriculture Solution Market, By Component, By Application, By Geography

Description

The Global Smart Agriculture Solution Market is estimated to be valued at US$ 16.87 Bn in 2024 and is expected to reach US$ 35.01 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 16.87 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	11.00%	2031 Value Projection:	US$ 35.01 Bn

Figure. Smart Agriculture Solution Market Share (%), By Region 2024

Smart Agriculture Solution Market - IMG1

The global smart agriculture solution market has been witnessing significant growth in the recent years. Factors such as the growing requirement to meet the increasing global food demand amid shrinking agricultural land, adoption of advanced technologies such as IoT and AI by farmers, and government initiatives to promote precision farming are driving the demand for smart agriculture solutions globally. Smart agriculture leverages modern technologies to help farmers monitor crops, optimize irrigation, assess soil quality and retrieve actionable insights to boost productivity and maximize output. Many technology companies are investing heavily in development of sensors, automation equipment, farm management software and data analytics tools for agriculture to make farming smarter, more efficient and sustainable. It is expected that the concept of digital agriculture will transform traditional farming practices considerably over the coming decade.

Market Dynamics:

The global smart agriculture solution market is witnessing strong growth driven by increasing food demand, reduction in availability of cultivatable land and labor, and rising adoption of advanced technologies by farmers worldwide. However, high initial investments required for deployment of smart agriculture tools and lack of adequate knowledge among certain farmers about these solutions pose challenges to market growth. On the positive side, growing support from governments and international organizations in the form of initiatives, projects and funding to promote adoption of smart farming techniques present significant opportunities for market players. In addition, integration of various technologies including IoT, AI, robotics, drones and sensors is expected to make agriculture far more efficient, sustainable and profitable in the future.

Key features of the study:

This report provides an in-depth analysis of the global smart agriculture solution market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global smart agriculture solution market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Afimilk Ltd., AGCO Corporation, Allflex Livestock Intelligence, AKVA Group, CropMetrics LLC, Deere & Company, DeLaval, Dirt Road Data Inc., Heliospectra AB, Innovasea Systems Inc., Iteris Inc., Pinduoduo, Trimble Deere & Company, Trimble Inc., and XAG Agriculture.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global smart agriculture solution market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart agriculture solution market.

Detailed Segmentation:

By Component
- Hardware
- Sensor Monitoring System
- Smart Detection System
- GPS Enabled Ranging System
- Drones
- Software
- Services
- Climate Information Service
- Supply Chain Management Service
- Others (System Integration, Maintenance and Consulting Service)
By Application
- Automated Machinery Guidance Control
- Tractor Collision and Obstacle Detection
- Machinery Safety and Parameter Monitoring
- Variable Rate Technology
- Building and Premises Surveillance
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Afimilk Ltd.
- AGCO Corporation
- Allflex Livestock Intelligence
- AKVA Group
- CropMetrics LLC
- Deere & Company
- DeLaval
- Dirt Road Data Inc.
- Heliospectra AB
- Innovasea Systems Inc.
- Iteris Inc.
- Pinduoduo
- Trimble Deere & Company
- Trimble Inc.
- XAG Agriculture Company

Product Code: CMI3931

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Component
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Smart Agriculture Solution Market, By Component, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Hardware
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Sensor Monitoring System
Smart Detection System
GPS Enabled Ranging System
Drones
Software
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Services
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Climate Information Service
Supply Chain Management Service
Others (System Integration, Maintenance and Consulting Service)

5. Global Smart Agriculture Solution Market, By Application, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Automated Machinery Guidance Control
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Tractor Collision and Obstacle Detection
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Machinery Safety and Parameter Monitoring
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Variable Rate Technology
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Building and Premises Surveillance
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Smart Agriculture Solution Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - South Africa
  - GCC Countries
  - Rest of the Middle East and Africa

7. Competitive Landscape

Company Profiles
- Afimilk Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AGCO Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Allflex Livestock Intelligence
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AKVA Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- CropMetrics LLC
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Deere & Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- DeLaval
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Dirt Road Data Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Heliospectra AB
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Innovasea Systems Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Iteris Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Pinduoduo
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Trimble Deere & Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Trimble Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- XAG Agriculture Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

8. Wheel of Fortune

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Reference and Research Methodology

References
Research Methodology
About us and Sales Contact