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Global Smart Agriculture Market Size, Share, Forecast: By Agriculture Type: Precision Farming, Livestock Monitoring, Smart Greenhouse, Others; By Offering: Hardware, Software, Service; By Application: Precision Farming Application, Livestock Monitoring Application, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Smart Agriculture Market Outlook
The global smart agriculture market size reached approximately USD 19.50 billion in 2023. The market is further projected to grow at a CAGR of 9.2% between 2024 and 2032, reaching a value of USD 44.18 billion by 2032.
Key Trends in the Market
Smart agriculture refers to the utilisation of technology including location systems, internet of things, artificial intelligence, robots, and sensors for enhancing the quality and quantity of the crop yield. Adoption of smart farming enhances the overall plant productivity, optimises water, electricity, and fuel usage, and reduces waste.
- The expansion of the global population is bolstering the requirement for high crop yield and judicial usage of natural resources including water, supporting the smart agriculture market growth. Additionally, the requirement for climate smart agriculture is also increasing due to changing weather patterns and harsh environmental conditions.
- Adoption of smart agriculture solutions such as yield mapping software, data management software, and sensors, among others allows farms to save costs, maximise productivity, and increase profits and land fertility along with the facilitation of sustainable agriculture.
- The increasing awareness among farmers, agriculturists, and agronomists about the various advantages associated with the utilisation of smart agriculture practices is providing lucrative growth opportunities to the market. Smart agriculture traces anomalies in crop growth, aiding in eliminating the risk of losing the yield.
Global Smart Agriculture Market Analysis
On the basis of agriculture type, the market is divided into precision farming, livestock monitoring, and smart greenhouse, among others. Based on offering, the market is segregated into hardware, software, and services, with hardware subdivided by type into automation and control systems, sensing devices, HVAC systems, and LED grow lights, among others and service into system integration and consulting, maintenance and support, managed services, and assisted professional services.
Based on application, the market is segregated into precision farming application, livestock monitoring application, and smart greenhouse application, among others. The precision farming application segment is subdivided by type into yield monitoring, field mapping, crop scouting, weather tracking and forecasting, irrigation management, inventory management, and farm labour management.
The livestock monitoring application is subdivided by type into milk harvesting, breeding management, feeding management, and animal comfort management, among others. The smart greenhouse application is subdivided by type into water and fertilizer management, HVAC management, and yield monitoring, among others. On the basis of region, the smart agriculture market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- AGCO Corporation
- Trimble Inc.
- Deere & Company
- Raven Industries, Inc.
- Argus Control Systems Limited
- ams-OSRAM AG
- CLAAS KGaA mbH
- Topcon Positioning Systems, Inc.
- TSI Incorporated (DICKEY-john)
- DroneDeploy, Inc.
- Others
Market Share by Agriculture type
Livestock monitoring is anticipated to account for a significant smart agriculture market share owing to the increasing requirement of real time monitoring of livestock to ensure their welfare, health, and production for ensuring the provision of optimum yield. The expansion of the dairy sector owing to the increased consumption of milk and milk products due to rising population is supporting the segment growth.
Market Share by Region
North America is expected to witness significant growth over the forecast period. This growth can be attributed to the increasing government regulations and initiatives to bolster the growth of the agricultural sector in the region. The increasing concerns about water conservation and growing awareness about the various advantages of smart agriculture is propelling the smart agriculture market demand in North America.
Competitive Landscape
AGCO Corporation is one of the global leaders in distribution, design, and manufacture of smart solutions to support sustainable agriculture practices. Their portfolio includes a full line of tractors, seeding and tillage equipment, and hay and forage equipment, among others.
Trimble Inc., headquartered in Colorado, United States, is a hardware, software, and services technology company dedicated towards delivering solutions to enhance the quality of life of their customers. The company transforms critical industries such as agriculture, transportation, and construction, among others.
Deere & Company, headquartered in Illinois, United States, is one of the leading manufacturing companies for combine harvesters and tractors, among other agricultural equipment. The company is also involved in the production of forestry equipment and construction solutions.
Other smart agriculture market key players include Raven Industries, Inc., Argus Control Systems Limited, ams-OSRAM AG, CLAAS KGaA mbH, Topcon Positioning Systems, Inc., TSI Incorporated (DICKEY-john), and DroneDeploy, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Agriculture Type |
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| Breakup by Offering |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Agriculture Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Agriculture Historical Market (2018-2023)
8.3 Global Smart Agriculture Market Forecast (2024-2032)
8.4 Global Smart Agriculture Market by Agriculture Type
8.4.1 Precision Farming
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Livestock Monitoring
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Smart Greenhouse
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Smart Agriculture Market by Offering
8.5.1 Hardware
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.1.3 Breakup by Type
8.5.1.3.1 Automation and Control Systems
8.5.1.3.2 Sensing Devices
8.5.1.3.3 HVAC System
8.5.1.3.4 LED Grow Light
8.5.1.3.5 Others
8.5.2 Software
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Service
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.3.3 Breakup by Type
8.5.3.3.1 System Integration and Consulting
8.5.3.3.2 Maintenance and Support
8.5.3.3.3 Managed Services
8.5.3.3.4 Assisted Professional Services
8.6 Global Smart Agriculture Market by Application
8.6.1 Precision Farming Application
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.1.3 Breakup by Type
8.6.1.3.1 Yield Monitoring
8.6.1.3.2 Field Mapping
8.6.1.3.3 Crop Scouting
8.6.1.3.4 Weather Tracking and Forecasting
8.6.1.3.5 Irrigation Management
8.6.1.3.6 Inventory Management
8.6.1.3.7 Farm Labour Management
8.6.2 Livestock Monitoring Application
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.2.3 Breakup by Type
8.6.2.3.1 Milk Harvesting
8.6.2.3.2 Breeding Management
8.6.2.3.3 Feeding Management
8.6.2.3.4 Animal Comfort Management
8.6.2.3.5 Others
8.6.3 Smart Greenhouse Application
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.3.3 Breakup by Type
8.6.3.3.1 Water and Fertilizer Management
8.6.3.3.2 HVAC Management
8.6.3.3.3 Yield Monitoring
8.6.3.3.4 Others
8.6.4 Others
8.7 Global Smart Agriculture Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Smart Agriculture Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Agriculture Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Agriculture Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Agriculture Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Agriculture Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 AGCO Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Trimble Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Deere & Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Raven Industries, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Argus Control Systems Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 ams-OSRAM AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 CLAAS KGaA mbH
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Topcon Positioning Systems, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 TSI Incorporated (DICKEY-john)
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 DroneDeploy, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Agriculture Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Agriculture Historical Market: Breakup by Agriculture Type (USD Billion), 2018-2023
3. Global Smart Agriculture Market Forecast: Breakup by Agriculture Type (USD Billion), 2024-2032
4. Global Smart Agriculture Historical Market: Breakup by Offering (USD Billion), 2018-2023
5. Global Smart Agriculture Market Forecast: Breakup by Offering (USD Billion), 2024-2032
6. Global Smart Agriculture Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Smart Agriculture Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Smart Agriculture Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Smart Agriculture Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Smart Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Smart Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Smart Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Smart Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Smart Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Smart Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Smart Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Smart Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Smart Agriculture Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Smart Agriculture Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Smart Agriculture Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 19.50 billion in 2023.
The market is projected to grow at a CAGR of 9.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 44.18 billion by 2032.
The major market drivers include expansion of the global population and increasing awareness among farmers, agriculturists, and agronomists.
The key trends fuelling the growth of the market include increasing government regulations and initiatives and expansion of the dairy sector.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant applications of smart agriculture include precision farming application, livestock monitoring application, and smart greenhouse application, among others.
The key players in the market are AGCO Corporation, Trimble Inc., Deere & Company, Raven Industries, Inc., Argus Control Systems Limited, ams-OSRAM AG, CLAAS KGaA mbH, Topcon Positioning Systems, Inc., TSI Incorporated (DICKEY-john), and DroneDeploy, Inc., among others.
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