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Smart Agriculture Market Size, Share, & Trends Analysis Report By Type (Precision farming, Livestock
Monitoring, Smart greenhouse, and Others), By Application, By Offering, And Segment Forecasts, 2024 - 2030

Report ID: GVR-2-68038-009-5 Number of Pages: 150 Format: Electronic (PDF)

Historical Range: 2017 - 2030 Industry: Technology (/industry/technology)

Report Summary Table of Contents Segmentation Methodology Request a FREE Sample Copy

Smart Agriculture Market Size & Trends

The global smart agriculture market size was valued at USD 22.65 billion in 2023 and is expected to grow at a compound annual growth rate
(CAGR) of 13.7% from 2024 to 2030. Increasing automation of commercial greenhouses and growing implementation of the controlled environment
agriculture (CEA) concept in greenhouses, in a bid to obtain a higher yield and maintain optimum growing conditions, are the key factors driving
demand during the forecast period. Cultivators realize the potential benefits of growing plants inside a greenhouse, which has led to the development
of commercial greenhouses. Cultivators have shifted from the conventional lighting systems to LED grow lights as the latter can easily be integrated
into a CEA setup. Although LED grows lights are high in cost, they are an ideal option for indoor farming, owing to their long-term benefits in terms of
energy efficiency.

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Smart agriculture companies are shifting their focus toward the development of equipment that is integrated with advanced sensors and cameras.
Key technologies driving the market demand include livestock biometrics, such as RFID, biometrics
(https://www.grandviewresearch.com/industry-analysis/biometrics-industry), and GPS to help cultivators automatically obtain information
regarding livestock in real-time. Furthermore, infrastructural health sensors are used for monitoring material conditions and vibrations in buildings,
factories, bridges, farms, and other infrastructure. Coupled with an intelligent network, infrastructural health sensors help provide information to the
maintenance team in real-time. In addition, agricultural robots are being used to automate farming processes, such as soil maintenance, weeding,
fruit picking, harvesting, planting, plowing, and irrigation, among others.

To sustain profits, farmers are increasingly adopting smarter and more efficient agriculture technologies to deliver high-quality products to the smart
agriculture market in sufficient quantities. Mobile technology aids in offering innovative types and applications that are used across the agricultural
value chain.

Machine-to-Machine (M2M) applications are particularly suited for the agricultural sector, enabling farmers to monitor equipment, assess the
environmental impact on production, precisely manage livestock and crops, and keep track of tractors and other agricultural equipment. M2M is an
integral part of IoT (https://www.grandviewresearch.com/industry-analysis/iot-market), which describes the coordination of multiple devices,
appliances, and machines connected to the internet through multiple networks.

The COVID-19 pandemic has brought widespread disruption to the global supply chain, resulting in food shortages and inflation. Necessary
measures are required to strengthen the food supply chain and prepare for any future crisis. The ongoing pandemic has highlighted the significance
of being able to carry out agricultural operations remotely. The ability of smart agricultural practices to help farmers recoup losses in a relatively
shorter lead time is expected to drive future market growth.
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Market Concentration & Characteristics

The smart agriculture market growth stage is moderate. The smart agriculture market is witnessing a significant degree of innovation, marked by the
adoption of advanced technologies such as Wi-Fi technology, Zigbee technology, and RF technology and equipment that are integrated with sensors
and cameras. The evolving smart agriculture technological landscape highlights that the market players continue to leverage cutting-edge solutions
to address challenges and meet the evolving demands of the farmers.

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The target market is also characterized by a high level of partnerships and collaborations by the leading players. This is due to several factors,
including the need to enhance their offerings and increase geographical reach.

The target market is also subject to increasing regulatory scrutiny. The smart agriculture market faces increasing regulatory scrutiny as governments
worldwide focus on enhancing transparency, protecting intellectual property, and safeguarding the data and environment. Stricter law implementation
measures and evolving legal frameworks are shaping the regulatory landscape, necessitating adaptability and compliance from companies operating
in the dynamic agriculture sector.

While there is a restricted availability of direct substitutes for smart agriculture, alternative methods such as conventional farming can impact the
smart agriculture market. Some farmers may choose to continue with conventional farming methods without integrating extensive technologies. Also,
this approach may involve fewer technological investments, which is expected to limit the ability to optimize resource use and maximize efficiency.

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

 Competitive benchmarking

 Historical data & forecasts

 Company revenue shares

 Regional opportunities

 Latest trends & dynamics

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Type Insights

In 2023, the livestock monitoring segment accounted for a market share of 21.80% of the global smart farming market. Furthermore, the smart
farming market has been segmented into precision farming (https://www.grandviewresearch.com/industry-analysis/precision-farming-
market), smart greenhouses, and others. The others segment includes fish farming and horticulture. Precision livestock monitoring supports the real-
time monitoring of the health, production, and welfare of livestock to ensure optimal yields. Factors such as the increasing size of dairy farms and
rising technological advancements, such as precision livestock monitoring, have urged market players to focus on new product launches and
substantial cost savings associated with livestock monitoring management.

The market estimates and forecasts of the smart greenhouse segment includes vertical farming. The smart greenhouse enables farmers to cultivate
crops with minimal human intervention. Climatic conditions such as soil moisture, temperature, and humidity are continuously monitored, and any
variation observed in them triggers an automated action.

Smart farming is an integrated approach to managing farming activities, such as preserving resources and optimizing yields, by implementing IoT
and information communication technologies. Smart farming entails real-time data on the conditions of soil, air, and crops. It aims to ensure the
profitability and sustainability of the farm yield while protecting the environment.

Offering Insights

Based on offerings, the software segment is likely to portray the highest growth rate from 2024 to 2030. The hardware segment has further been
bifurcated into automation & control systems, HVAC systems (https://www.grandviewresearch.com/industry-analysis/hvac-equipment-
industry), LED grow lights, RFID tags & readers, and sensing devices. Automation & control systems are further segmented into application control
devices, milking robots, guidance systems, driverless tractors, mobile devices, remote sensing, variable rate technology, drones, and wireless
modules.

The growing automation of raw material production and product manufacturing in the dairy and food industry is likely to drive the milking robots
(https://www.grandviewresearch.com/industry-analysis/milking-robots-market) segment in the future. Automation technology has improved
milk quality and animal welfare. The rising need to reduce labor costs and improve productivity is expected to positively impact the profitability of the
dairy & food processing industries. Factors such as increased milk frequency, efficient management of the herd, cow health, and welfare benefits are
driving the demand for milking robots.

The drones sub-segment under the automation & control system is expected to witness the highest growth rate during the forecast period. Several
types of drones include hybrid and fixed-wing. Fixed-wing drones comprise a rigid wing having a predetermined airfoil, which aids in its flight by
generating lift caused by the drone’s forward airspeed. Forward thrust acquired by a propeller, an electric motor, or an internal combustion engine
produces this airspeed.

Rotary blade drones comprise single rotor and multi-rotor type drones that revolve around a fixed mast, which enables them to fly in any direction
and hover in one place. Hybrid drones can stay in flight for years at a stretch as they operate on multiple sources of energy. Solar panels
(https://www.grandviewresearch.com/industry-analysis/solar-panels-market) mounted on the wings of the hybrid drones provide fuel during the
flight.

Application Insights

In 2023, the yield monitoring segment held a market share of 43.19%. This is attributable to the growing demand for monitoring crop growth and
reducing overall wastage by providing timely required water and minerals. The application of agriculture type includes irrigation management, yield
monitoring, crop scouting, field mapping, weather forecasting (https://www.grandviewresearch.com/industry-analysis/weather-forecasting-
system-solutions-market) & tracking, inventory management, and farm labor management. The weather monitoring & forecasting segment is
anticipated to witness the highest growth rate during the projected period.

Growing water scarcity and increasing environmental consciousness among consumers have urged the need to modify agricultural management
practices conserving natural resources such as soil, air, and water. The irrigation management segment is expected to have considerable growth
during the projected period. Precision irrigation offers a combination of solutions and systems to effectively utilize water by matching the irrigation
inputs to yields in each area of a field.

The application of smart greenhouses includes water & fertilizer management, HVAC management, yield monitoring, and others. The HVAC
management segment is expected to expand significantly during the forecast period as increasing greenhouse farms are employing it. The need for
maintaining different temperatures and humidity for hydroponic grow rooms and aquaculture areas drives demand for the HVAC management
segment.

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 Global Smart Agriculture Market share and size, 2022

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Applications of livestock monitoring (https://www.grandviewresearch.com/industry-analysis/livestock-monitoring-market) include milk

harvesting, breeding management, feeding management, animal comfort management, and others. According to the Food and Agriculture
Organization (FAO), technological advancements in livestock and agricultural production systems will play a significant role in addressing food
shortages. Animal comfort management allows farmers to track and manage an animal’s status and well-being. The adoption of automated solutions
is expected to overcome the limitations of human labor, thereby providing species-appropriate behavior.

Regional Insights

North America dominated the global smart agriculture market with a market share of 44.07% in 2023. It is expected to register a CAGR of 12.3%
from 2024 to 2030. Growing government initiatives and regulations to enhance the agriculture industry in the region are expected to drive the North
American regional demand during the forecast period. Various agricultural organizations have come together to form the North America Climate
Smart Agriculture Alliance (NACSAA), a platform for educating and equipping the cultivators for sustainable agricultural productivity. With the rising
concern for water conservation, governments in North America are actively providing subsidies to enhance the applications of smart irrigation. For
instance, the government of California has provided a rebate on smart controllers.

Smart Agriculture Market Trends by Region, 2023 - 2030

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The Asia Pacific is anticipated to witness the highest growth during the projected period. Although smart farming is in the adoption stage in this
region, the growing government support and rising awareness among cultivators are expected to drive regional demand during the forecast period.
For instance, in Japan, the ministry of agriculture has been providing funds for developing precision agriculture. The farmers’ associations and
community-based organizations in each country play a major role in promoting sustainable agriculture.

The market for Singapore is also expected to witness considerable growth as 90% of the total food consumption is fulfilled through imports. The
growing adoption of organic agriculture among small farmers in South America is likely to enhance the regional market demand during the projected
period.

Key Companies & Market Share Insights

Some of the key players operating in the market include Ag Leader Technology, AGCO Corporation, AgJunction, Inc., AgEagle Aerial Systems Inc.,
Autonomous Solutions, Inc., Argus Control Systems Ltd, BouMatic Robotic B.V., CropMetrics, CLAAS KGaA mbH, CropZilla, Deere & Company,
DICKEY-john, DroneDeploy, DeLaval Inc, Farmers Edge Inc, Grownetics, Inc., Granular, Inc., Gamaya, GEA Group Aktiengesellschaft,
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 AGCO Corporation is a U.S.-based agriculture equipment manufacturer. The company develops and sells products and solutions such as
tractors, combines, foragers, hay tools, self-propelled sprayers, smart farming technologies, seeding equipment, and tillage equipment.

Deere & Company is engaged in the manufacturing & construction of agricultural and forestry machinery; drivetrains and diesel engines for
heavy equipment; and lawn care machinery. Additionally, the company also manufactures and provides other heavy manufacturing
equipment. The company serves diverse industries such as agriculture, forestry, construction, landscaping & grounds care, engines &
drivetrain, government and military, and sports turf.

Prospera Technologies and Agrible, Inc. are some of the emerging market participants in the target market.

Prospera Technologies is a global service provider of agriculture technology for managing and optimizing irrigation and crop health. The
company provides AI-based sensors and cameras that aid farmers in crop monitoring.

Agrible is a U.S.-based agriculture solution provider. The company helps customers in more than 30 countries optimize water use, crop
protection, fertilization, fieldwork, research trials, food supply chains, and sustainability initiatives

Key Smart Agriculture Companies:

Ag Leader Technology

AGCO Corporation

AgJunction, Inc.

AgEagle Aerial Systems Inc.

Autonomous Solutions, Inc.

Argus Control Systems Ltd

BouMatic Robotic B.V.

CropMetrics

CLAAS KGaA mbH

CropZilla

Deere & Company

DICKEY-john

DroneDeploy

DeLaval Inc

Farmers Edge Inc

Grownetics, Inc.

Granular, Inc.

Gamaya

GEA Group Aktiengesellschaft

Raven Industries

Trimble Inc.

Topcon Positioning System

Recent Developments

In July 2023, Deere & Company (https://www.deere.com/en/news/all-news/john-deere-acquires-smart-apply/) announced the

acquisition of Smart Apply, Inc. The company planned to leverage Smart Apply’s precision spraying to assist growers in addressing the
challenges associated with input costs, labor, regulatory requirements, and environmental goals.

In May 2023, AgEagle Aerial Systems Inc. announced that it had entered into a 2-year supply agreement with Wingtra AG. This agreement is
purposed to secure the supply of RedEdge-P sensor kits for incorporation with WingtraOne VTOL drones. This is specifically resourceful for
those seeking to benefit materially from unparalleled, high precision, and plant-level detail in commercial agriculture, environmental research,
forestry, and water management applications.
In April 2023, AGCO Corporation announced a strategic collaboration with Hexagon, for the expansion of AGCO’s factory-fit and aftermarket
guidance offerings. The new guidance system was planned to be commercialized as Fuse Guide on Valtra and Massey Ferguson tractors.

In February 2023, Topcon Agriculture (https://www.topconpositioning.com/articles/topcon-launches-transplanting-guidance-and-

control-technology-for-specialty-farmers) unveiled the launch of Transplanting Control, an exceptional guidance control solution for
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specialty farmers. This turnkey solution was designed to boost efficiency, reduce labor, and proliferate production. Further, it delivers GNSS-
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driven guidance, autosteering & control, thereby proving advantageous for the growers of perennial trees, vegetables, and fruits.
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 In January 2023, ASI Logistics in collaboration with SICK, Inc. announced the successful implementation of autonomous yard truck
operations. In this collaboration, ASI Logistics leveraged its groundbreaking Vehicle Automation Kit (VAK) along with the industry-leading
LiDAR systems of SICK.

In March 2022, Raven announced its business expansion in South Dakota and Arizona to enhance the development of AI-driven technologies
for tailoring cutting-edge solutions. The strategy was also aimed at allowing access to a nearby test farm for same-day testing.

In October 2021, BouMatic (https://boumatic.com/news/boumatic-acquisition-sac/) announced the acquisition of SAC Group to leverage
automatic and conventional milking systems. The transaction demonstrated the company’s incessant commitment to delivering best-in-class
dairy farm solutions to consumers across the world.

In May 2021, AGCO announced a targeted spraying solutions strategic collaboration with Raven Industries Inc., BASF Digital, and Robert
Bosch GmbH. The objective of this deal was to assess the targeted spraying technology for enhancing crop protection product applications
by limiting crop input costs and addressing environmental sustainability.

Smart Agriculture Market Report Scope

Report Attribute Details

Market size value in 2024 USD 25.36 billion

Revenue forecast in 2030 USD 54.71 billion

Growth Rate CAGR of 13.7% from 2024 to 2030

Actual Data 2017 - 2030

Forecast period 2024 - 2030

Quantitative units Revenue in USD million/billion and CAGR from 2024 to 2030

Revenue forecast, company ranking, competitive landscape, growth factors, and

Report coverage
trends

Segments covered Type, offerings, application, region

Regional scope North America, Europe, Asia Pacific, South America, MEA

U.S.; Canada; Mexico; U.K.; Germany; France; Netherlands, Russia; China;

Country scope
India; Japan; Singapore; Australia; Brazil; Turkey.

Ag Leader Technology, AGCO Corporation, AgJunction, Inc., AgEagle Aerial

Systems Inc., Autonomous Solutions, Inc., Argus Control Systems Ltd, BouMatic
Robotic B.V., CropMetrics, CLAAS KGaA mbH, CropZilla, Deere & Company,
Key companies profiled
DICKEY-john, DroneDeploy, DeLaval Inc, Farmers Edge Inc, Grownetics, Inc.,
Granular, Inc., Gamaya, GEA Group Aktiengesellschaft, Raven Industries,
Trimble Inc., Topcon Positioning System.

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Global Smart Agriculture Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-
segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart agriculture market report based on type,
offering, application, and region.

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 Global Smart Agriculture Market Report Segmentation

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Type Outlook (Revenue, USD Million, 2017 - 2030)

Precision farming

Livestock monitoring

Smart greenhouse

Others

Offering Outlook (Revenue, USD Million, 2017 - 2030)

Hardware

Automation & control systems

Drones

Application control devices

Guidance system

GPS

GIS

Remote sensing

Handheld

Satellite sensing

Driverless tractors

Mobile devices

VRT

Map-based

Sensor-based

Wireless modules

Bluetooth technology

Wi-Fi technology

Zigbee technology

RF technology

Milking robots

Sensing devices

Soil sensor

Nutrient sensor

Moisture sensor

Temperature sensor
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 Others
HVAC system

LED grow light

RFID tags & readers

Software

Web-based

Cloud-based

Types

System integration & consulting

Maintenance & support

Managed types

Data types

Analytics types

Farm operation types

Assisted professional types

Supply chain management types

Climate information types

Application Outlook (Revenue, USD Million; 2017 - 2030)

Precision farming application

Yield monitoring

On-farm

Off-farm

Field mapping

Crop scouting

Weather tracking & forecasting

Irrigation management

Inventory management

Farm labor management

Livestock monitoring application

Milk harvesting

Breeding management

Feeding management

Animal comfort management

Others

Smart greenhouse application

Water & fertilizer management

HVAC management

Yield monitoring

Others

Others

Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

U.S.

Canada

Mexico
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U.K.
 Germany

France

Russia

Netherland
Asia Pacific

China

Japan

India

Australia

Singapore

South America

Brazil

Middle East and Africa (MEA)

Turkey

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