Smart Agriculture Market by Offering, Farm Size, Application

List of Tables

The Smart Agriculture Market was valued at USD 23.43 billion in 2023, expected to reach USD 26.74 billion in 2024, and is projected to grow at a CAGR of 15.03%, to USD 62.47 billion by 2030.

Smart agriculture, encompassing precision farming, livestock monitoring, smart greenhouse, irrigation management, and more, leverages IoT, AI, GPS, and big data analytics to enhance the efficiency and productivity of agricultural processes. The necessity for smart agriculture is driven by the need to optimize resource use, reduce environmental impact, and withstand growing food demands due to population growth. As climate change poses significant challenges, smart agriculture offers solutions through efficient water and nutrient management, pest control, and weather prediction. End-use applications span crop production, aquaculture, animal husbandry, and forestry, with innovations like drones for crop monitoring and autonomous machinery revolutionizing traditional practices.

KEY MARKET STATISTICS
Base Year [2023]	USD 23.43 billion
Estimated Year [2024]	USD 26.74 billion
Forecast Year [2030]	USD 62.47 billion
CAGR (%)	15.03%

Market growth is heavily influenced by technological advancements, increased adoption of IoT devices, supportive government initiatives, and escalating food and water scarcity issues. The potential for improving supply chain efficiency, reducing operational costs, and enhancing product quality provides significant opportunities. Emerging markets, especially in Asia-Pacific and Latin America, are poised for substantial adoption due to their large agricultural base and growing tech integration. However, challenges such as high initial investments, lack of technological infrastructure in developing regions, and concerns regarding data privacy and security can impede growth.

To capitalize on opportunities, businesses should focus on affordable precision tools and localized solutions tailored for small and medium-sized farms. Precision farming solutions powered by AI and machine learning for predictive analytics and decision-making are promising areas for innovation. The integration of blockchain can enhance traceability and transparency across the supply chain, further enhancing consumer trust. Navigating the market requires addressing connectivity issues in remote areas and developing user-friendly platforms that provide actionable insights without requiring extensive technical expertise. Overall, the smart agriculture market is dynamic, with evolving consumer preferences and environmental policies continuously shaping its landscape. Companies that invest in sustainable, scalable, and secure smart agricultural solutions are likely to thrive.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Smart Agriculture Market

The Smart Agriculture Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising integration of smartphone with agricultural hardware and software
- Growing use modern technologies in agricultural products
- Increasing use of smart agriculture to prevent diseases and monitor livestock
Market Restraints
- High cost involved in deployment of smart agriculture equipment
Market Opportunities
- Integration of technologically advanced and innovative smart agriculture solutions
- Emerging application of unmanned aerial vehicles in agricultural farms
Market Challenges
- Difficulty in maintaining large volumes of data for decision making

Porter's Five Forces: A Strategic Tool for Navigating the Smart Agriculture Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Smart Agriculture Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Smart Agriculture Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Smart Agriculture Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Smart Agriculture Market

A detailed market share analysis in the Smart Agriculture Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Smart Agriculture Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Smart Agriculture Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Smart Agriculture Market

A strategic analysis of the Smart Agriculture Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Smart Agriculture Market, highlighting leading vendors and their innovative profiles. These include Afimilk Ltd., AG Leader Technology, Inc., AgCinect LLC, AGCO Corporation, AgEagle Aerial Systems Inc., AgJunction, Inc. by Kubota Corporation, Agrivi d.o.o., Agworld Pty Ltd., Aker Technologies, Inc., AKVA Group, Aquabyte Inc., Biz4Intellia Inc., BouMatic LLC, Claas KGaA mbH, Cropin Technology Solutions Pvt. Ltd., CropMetrics LLC, Croptracker, Inc. by Dragonfly Information Technology Inc., CropZilla Inc., Deere & Company, DeLaval Inc., Dickey-John Corporation by TSI Incorporated., DJI Technology Co., Ltd., DroneDeploy, EOS Data Analytics, Inc., Equinox's Drones Pvt. Ltd., Fancom B.V., Farmbrite, Farmers Edge Inc., FarmLogics Technologies Pvt. Ltd., Gamaya, GEA Group Aktiengesellschaft, GroPoint by RioT Technology Corp., Heliospectrs AB, Innovasea Systems, Inc., Jain Irrigation Systems Ltd., Jingxun Changtong Electronic Technology Co., Ltd., Kheti Buddy, Nelson Irrigation Corporation, Netafim by Orbia, PrecisionHawk, Inc., Proagrica by LexisNexis Risk Solutions Group, Quantum Spatial, Inc. by NV5 Global, Inc., QuickTrials by Resonanz Group, Rain Bird Corporation, Raven Industries, Inc., TeeJet Technologies, The Climate Corporation, Trimble, Inc., Weathermatic, and XAG Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Smart Agriculture Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Offering, market is studied across Hardware, Services, and Software. The Hardware is further studied across Automation & Control System and Sensing & Monitoring Devices. The Automation & Control System is further studied across Displays, Drones or UAVs, Flow & Application Control Devices, GPS & GNSS, Guidance & Steering, Handheld Mobile Devices or Handheld Computers, HVAC Systems, Irrigation Controller, and LED Grow Lights. The Sensing & Monitoring Devices is further studied across Climate Sensors, RFID Tags & Readers, Soil Sensors, Water Sensors, and Yield Monitors. The Services is further studied across Assisted Professional Services, Connectivity Services, Maintenance & Support, Managed Services, and System Integration & Consulting. The Assisted Professional Services is further studied across Climate Information Services and Supply Chain Management Services. The Managed Services is further studied across Analytics, Data Services, and Farm Operation Services. The Software is further studied across Cloud-Based and Local or Web-Based.
Based on Farm Size, market is studied across Large Farms, Medium Farms, and Small Farms.
Based on Application, market is studied across Fish Farming, Livestock Monitoring, Precision Farming, and Smart Greenhouse. The Fish Farming is further studied across Feeding & Production Control, Fish Tracking & Fleet Navigation, and Water Quality Management. The Livestock Monitoring is further studied across Animal Comfort Management, Behaviour Monitoring & Management, Breeding Management, Feed Management, Heat Stress Management, and Milk Harvesting Management. The Precision Farming is further studied across Crop Scouting, Farm Labor Management, Field Mapping, Financial Management, Inventory Management, Irrigation Management, and Weather Tracking & Forecasting. The Smart Greenhouse is further studied across HVAC Management, Water & Fertilizer Management, and Yield Monitoring.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-43676CF4293C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising integration of smartphone with agricultural hardware and software
  - 5.1.1.2. Growing use modern technologies in agricultural products
  - 5.1.1.3. Increasing use of smart agriculture to prevent diseases and monitor livestock
- 5.1.2. Restraints
  - 5.1.2.1. High cost involved in deployment of smart agriculture equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of technologically advanced and innovative smart agriculture solutions
  - 5.1.3.2. Emerging application of unmanned aerial vehicles in agricultural farms
- 5.1.4. Challenges
  - 5.1.4.1. Difficulty in maintaining large volumes of data for decision making
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Smart Agriculture Market, by Offering

6.1. Introduction
6.2. Hardware
- 6.2.1. Automation & Control System
  - 6.2.1.1. Displays
  - 6.2.1.2. Drones or UAVs
  - 6.2.1.3. Flow & Application Control Devices
  - 6.2.1.4. GPS & GNSS
  - 6.2.1.5. Guidance & Steering
  - 6.2.1.6. Handheld Mobile Devices or Handheld Computers
  - 6.2.1.7. HVAC Systems
  - 6.2.1.8. Irrigation Controller
  - 6.2.1.9. LED Grow Lights
- 6.2.2. Sensing & Monitoring Devices
  - 6.2.2.1. Climate Sensors
  - 6.2.2.2. RFID Tags & Readers
  - 6.2.2.3. Soil Sensors
  - 6.2.2.4. Water Sensors
  - 6.2.2.5. Yield Monitors
6.3. Services
- 6.3.1. Assisted Professional Services
  - 6.3.1.1. Climate Information Services
  - 6.3.1.2. Supply Chain Management Services
- 6.3.2. Connectivity Services
- 6.3.3. Maintenance & Support
- 6.3.4. Managed Services
  - 6.3.4.1. Analytics
  - 6.3.4.2. Data Services
  - 6.3.4.3. Farm Operation Services
- 6.3.5. System Integration & Consulting
6.4. Software
- 6.4.1. Cloud-Based
- 6.4.2. Local or Web-Based

7. Smart Agriculture Market, by Farm Size

7.1. Introduction
7.2. Large Farms
7.3. Medium Farms
7.4. Small Farms

8. Smart Agriculture Market, by Application

8.1. Introduction
8.2. Fish Farming
- 8.2.1. Feeding & Production Control
- 8.2.2. Fish Tracking & Fleet Navigation
- 8.2.3. Water Quality Management
8.3. Livestock Monitoring
- 8.3.1. Animal Comfort Management
- 8.3.2. Behaviour Monitoring & Management
- 8.3.3. Breeding Management
- 8.3.4. Feed Management
- 8.3.5. Heat Stress Management
- 8.3.6. Milk Harvesting Management
8.4. Precision Farming
- 8.4.1. Crop Scouting
- 8.4.2. Farm Labor Management
- 8.4.3. Field Mapping
- 8.4.4. Financial Management
- 8.4.5. Inventory Management
- 8.4.6. Irrigation Management
- 8.4.7. Weather Tracking & Forecasting
8.5. Smart Greenhouse
- 8.5.1. HVAC Management
- 8.5.2. Water & Fertilizer Management
- 8.5.3. Yield Monitoring

9. Americas Smart Agriculture Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Smart Agriculture Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Smart Agriculture Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Garuda Aerospace, Ninjacart Partner to Make Agricultural Drones Easily Accessible to Farmers
- 12.3.2. AGCO & Bosch BASF Smart Farming Announce Commercialization of Smart Spraying Capabilities
- 12.3.3. PepsiCo Investing $216M for 'climate-Smart Agriculture Practices'
- 12.3.4. Raven Announces Strategic Integration of Augmenta, Enhances Automated Technology Portfolio
- 12.3.5. McFarlane Mfg. Co. Inc. Acquires CMT AG LLC
- 12.3.6. Delaval Starts Work on New Sustainable Dairy Unit
- 12.3.7. Aquabyte Closes $25m Series B Funding to Meet World's Demand For Healthy, Sustainable Fish
- 12.3.8. AGCO Invests in OPTIfarm to Improve Productivity and Animal Welfare
- 12.3.9. John Deere Acquires Light, a Company that Specializes in Depth Sensing and Camera Perception for Autonomous Vehicles
- 12.3.10. Adesys Alarm Dialer Added To Fancom Product Portfolio
- 12.3.11. Deere Forms Joint Venture with Semi-Autonomous Sprayer Company GUSS Automation
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Afimilk Ltd.
2. AG Leader Technology, Inc.
3. AgCinect LLC
4. AGCO Corporation
5. AgEagle Aerial Systems Inc.
6. AgJunction, Inc. by Kubota Corporation
7. Agrivi d.o.o.
8. Agworld Pty Ltd.
9. Aker Technologies, Inc.
10. AKVA Group
11. Aquabyte Inc.
12. Biz4Intellia Inc.
13. BouMatic LLC
14. Claas KGaA mbH
15. Cropin Technology Solutions Pvt. Ltd.
16. CropMetrics LLC
17. Croptracker, Inc. by Dragonfly Information Technology Inc.
18. CropZilla Inc.
19. Deere & Company
20. DeLaval Inc.
21. Dickey-John Corporation by TSI Incorporated.
22. DJI Technology Co., Ltd.
23. DroneDeploy
24. EOS Data Analytics, Inc.
25. Equinox's Drones Pvt. Ltd.
26. Fancom B.V.
27. Farmbrite
28. Farmers Edge Inc.
29. FarmLogics Technologies Pvt. Ltd.
30. Gamaya
31. GEA Group Aktiengesellschaft
32. GroPoint by RioT Technology Corp.
33. Heliospectrs AB
34. Innovasea Systems, Inc.
35. Jain Irrigation Systems Ltd.
36. Jingxun Changtong Electronic Technology Co., Ltd.
37. Kheti Buddy
38. Nelson Irrigation Corporation
39. Netafim by Orbia
40. PrecisionHawk, Inc.
41. Proagrica by LexisNexis Risk Solutions Group
42. Quantum Spatial, Inc. by NV5 Global, Inc.
43. QuickTrials by Resonanz Group
44. Rain Bird Corporation
45. Raven Industries, Inc.
46. TeeJet Technologies
47. The Climate Corporation
48. Trimble, Inc.
49. Weathermatic
50. XAG Co., Ltd.