The Smart Agriculture Market is expected to grow from USD 13.9 billion in 2020 to USD 20.8 billion by 2026 at a CAGR of 10.1% from 2020 to 2026.
Smart agriculture is a concept emphasized on offering the agricultural industry with the infrastructure to leverage advanced technology. Additionally, connected technologies such as Zigbee, WiFi, additional wireless sensor and low power wide area network technology are few of the different technologies which assist farmers efficiently execute various agriculture operations such as purchasing, harvesting, planting and inventory control. Moreover, the increase in adoption of IoT and artificial intelligence by farmers help monitor the crop field and automate the irrigation process. The enormous growth of the global smart agriculture market is mainly ascribed to rising application of remote sensing, GIS, VRT, guidance technology and GPS in smart agriculture for improving the productivity. In the recent years, farm operating expenses are very high; hence, farmers are deploying technologies which will reduce their dependency on farmers and labors. Technologies which include agricultural drones with cameras are highly used for applications such as spraying, weeding, harvesting and pruning of farmlands. These types of advancements in smart agriculture are creating awareness among farmers to adopt smart agriculture technologies and therefore fueling the market growth. Furthermore, the governments across the world are joining hands with several different agro-processing organizations, food & beverages manufacturers and financial institutions for the growth of considerable agriculture initiatives. These initiatives aim at rising efficiency of the farmers, their productivity and offer more food security. In addition, the collaboration between public-private firms in the developing nations such as China, India, and Brazil have created more revenue opportunity for the farmers, which fuels the growth of the smart agriculture market. Moreover, several agriculture industries are collaborating with various European governments for implementing advance technology such as IoT and machine learning to allow farmers to efficiently plan and execute several agricultural operations. Therefore, is creating a lucrative opportunity for the market growth. On the other hand, one of the key factors which restrict the growth of smart agriculture is the heavy investment needed for deployment of different components in the agriculture.
The rising adoption of smartphones with software and hardware devices applications may create immense opportunities for the market in the future. Also, faster availability of smart farming applications (apps) for monitoring weather and climate conditions in low cost are some of the factors which are anticipated to increase the demand for climate smart agriculture market.
The global Smart Agriculture Market is segregated on the basis of Agriculture Type as Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse and Others. Based on Offering the global Smart Agriculture Market is segmented in Hardware, Software and Services. Based on Application the global Smart Agriculture Market is segmented in Precision Farming, Livestock Monitoring, Precision Aquaculture, Precision Forestry, Smart Greenhouse and Others. Based on Farm Size the global Smart Agriculture Market is segmented in Small, Medium and Large.
The global Smart Agriculture Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Smart Agriculture Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Ag Leader Technology, AGCO Corporation, AgJunction, Inc., AgEagle Aerial Systems Inc., Autonomous Solutions, Inc. and others are among the major players in the global Smart Agriculture Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Smart Agriculture Market has been segmented as below:
Smart Agriculture Market, By Agriculture Type
Smart Agriculture Market, By Offering
Smart Agriculture Market, By Application
Smart Agriculture Market, By Farm Size
Smart Agriculture Market, By Region
Smart Agriculture Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Smart Agriculture Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Smart Agriculture Market share. Major industry players with significant revenue share include Ag Leader Technology, AGCO Corporation, AgJunction, Inc., AgEagle Aerial Systems Inc., Autonomous Solutions, Inc. and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Smart Agriculture Market, By Agriculture Type
5.1. Key Points
5.2. Precision Farming
5.3. Livestock Monitoring
5.4. Precision Aquaculture
5.5. Precision Forestry
5.6. Smart Greenhouse
5.7. Others
6. Smart Agriculture Market, By Offering
6.1. Key Points
6.2. Hardware
6.3. Software
6.4. Services
7. Smart Agriculture Market, By Application
7.1. Key Points
7.2. Precision Farming
7.3. Livestock Monitoring
7.4. Precision Aquaculture
7.5. Precision Forestry
7.6. Smart Greenhouse
7.7. Others
8. Smart Agriculture Market, By Farm Size
8.1. Key Points
8.2. Small
8.3. Medium
8.4. Large
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Smart Agriculture Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Ag Leader Technology
10.2. AGCO Corporation
10.3. AgJunction, Inc.
10.4. AgEagle Aerial Systems Inc.
10.5. Autonomous Solutions, Inc.
10.6. Argus Control Systems Ltd
10.7. BouMatic Robotic B.V.
10.8. CropMetrics
10.9. CLAAS KGaA mbH
10.10.CropZilla
10.11. Deere & Company
10.12. DICKEY-john
10.13. DroneDeploy
10.14. DeLaval Inc.
10.15. Farmers Edge Inc.
10.16. Grownetics, Inc.
10.17. Granular, Inc.
10.18.Gamaya
10.19. GEA Group Aktiengesellschaft
10.20. Raven Industries
10.21. SST Development Group, Inc.
Smart Agriculture Market, By Agriculture Type
Smart Agriculture Market, By Offering
Smart Agriculture Market, By Application
Smart Agriculture Market, By Farm Size
Smart Agriculture Market, By Company