Smart Agriculture Market to Gain Major Growth on Account of Rising Global Food Demand and Key Precision Farming Advancements

Smart Agriculture Market Scope & Overview

The SNS Insider report indicates that the Smart Agriculture Market reached a valuation of USD 20.05 billion in 2022. It is projected to expand significantly, reaching USD 55.21 billion by 2030, with a CAGR of 13.5% during the forecast period spanning from 2023 to 2030.

Smart agriculture, also known as precision agriculture or digital farming, is a cutting-edge approach to farming that utilizes advanced technologies and data-driven solutions to optimize agricultural processes, enhance productivity, and promote sustainable practices in the field of agriculture. It leverages the power of digital tools, connectivity, and real-time data analysis to make informed decisions, maximize crop yields, and reduce the environmental impact of farming activities.

Market Analysis

The smart agriculture market is poised for remarkable growth, with a myriad of factors converging to fuel its expansion. The global population is projected to exceed 9 billion by 2050, necessitating a substantial increase in food production. Smart agriculture offers a solution to address this challenge by optimizing crop yields, minimizing wastage, and enhancing resource utilization. As the world seeks sustainable ways to feed its growing population, the adoption of smart agriculture technologies becomes paramount. Precision farming techniques, enabled by satellite navigation systems, drones, and sensors, empower farmers to tailor their approaches to the unique needs of each crop. By optimizing water usage, fertilizer application, and pest control, smart agriculture not only increases productivity but also reduces environmental impact. As these technologies continue to evolve, their integration with smart agriculture solutions is anticipated to drive market growth.

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Key Players Covered in Smart Agriculture market report are:

Grownetics, Inc.,
Deere & Company,
CropMetrics LLC,
Argus Control Systems Ltd,
AGCO Corporation,
Ag Leader Technology,
AgJunction, Inc.,
CropZilla, Inc.,
DICKEY-john,
AgEagle Aerial Systems Inc.,
Autonomous Solutions, Inc.,
BouMatic Robotic B.V.,
CLAAS KGaA mbH,
DroneDeploy,
Farmers Edge, Inc.,
DeLaval Inc,
Granular, Inc.,
Trimble Inc.,
Gamaya,
GEA Group Aktiengesellschaft,
Raven Industries, Inc.

Impact of Recession

As the world navigates the tumultuous waters of a recession, the smart agriculture market emerges as a beacon of adaptability and innovation. While challenges loom, the industry’s capacity to embrace data-driven decision-making, accelerate precision agriculture, and attract investment underscores its resilience. The market not only survives during economic downturns but thrives, emerging stronger and more robust, ready to contribute to global food security and sustainable agricultural practices.

Segmentation Analysis

The smart agriculture market is on the brink of a transformative era, where the amalgamation of technology and traditional farming practices will reshape the way we produce food. Precision farming and large farms are set to play pivotal roles in this revolution, leveraging innovation to optimize resources, increase productivity, and foster sustainability. By embracing these segments, the agricultural sector can usher in a new era of prosperity, ensuring food security for a growing global population while safeguarding our planet’s precious resources.

Smart Agriculture Market Segmentation as Follows:

By Agriculture Type
Precision farming
Livestock monitoring
Smart greenhouse
Others

By offering
Hardware
software

By Farm Size
Small Farms
Medium Farms
Large Farms

By Application
Precision farming application
Livestock monitoring application
Smart greenhouse application
Others

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

North America remains at the forefront of smart agriculture, owing to its robust technological infrastructure and a high level of digital adoption in the farming community. The United States and Canada are witnessing significant adoption of precision agriculture techniques, sensor-based monitoring, and automation. The Asia-Pacific region faces the monumental challenge of feeding a rapidly growing population. Smart agriculture is viewed as a crucial solution to address food security concerns. Countries such as China and India are investing heavily in agricultural technology, incorporating AI, machine learning, and satellite imaging to optimize crop management, pest control, and irrigation.

Conclusion

The future prospects for the smart agriculture market are promising and exciting. As technology continues to advance and stakeholders recognize the importance of sustainable and efficient farming practices, the adoption of smart agriculture solutions is expected to soar. The convergence of IoT, AI, blockchain, and data analytics will empower farmers to make informed decisions, optimize resource utilization, and contribute to global food security. As the smart agriculture ecosystem matures, it has the potential to transform the way we cultivate and produce food, ensuring a more resilient and sustainable future for agriculture.

Table of Content – Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Agriculture Market Segmentation, By Agriculture Type
9. Smart Agriculture Market Segmentation, By Offering
10. Smart Agriculture Market Segmentation, By Farm Size
11. Smart Agriculture Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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Frequently Asked Questions

Q1. What is the projected outlook for smart agriculture market growth?

ANS: The market is projected to hit USD 55.21 billion by 2030, at a CAGR of 13.5% during the period of 2023 to 2030.

Q2. What are the major factors influencing the smart agriculture market?

ANS: The convergence of rising food demand, precision farming advancements, IoT integration, data-driven decision-making, climate resilience, government support, and collaborative efforts all contribute to the dynamic growth of this market.

Q3. Who are the leading players in the smart agriculture market?

ANS: Grownetics, Inc., Argus Control Systems Ltd, AGCO Corporation, Ag Leader Technology, AgJunction, Inc., CropZilla, Inc., Autonomous Solutions, Inc., BouMatic Robotic B.V., Granular, Inc., Trimble Inc., Gamaya, Raven Industries, Inc.

Tags: Smart Agriculture Market Size, Smart Agriculture Market, Smart Agriculture Market Growth, Smart Agriculture Market Analysis, Smart Agriculture Market Trends, Smart Agriculture Market Share, Smart Agriculture Industry