Product Code: CMI3931
The Global Smart Agriculture Solution Market is estimated to be valued at US$ 16.87 Bn in 2024 and is expected to reach US$ 35.01 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 16.87 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
11.00% |
2031 Value Projection: |
US$ 35.01 Bn |
Figure. Smart Agriculture Solution Market Share (%), By Region 2024
The global smart agriculture solution market has been witnessing significant growth in the recent years. Factors such as the growing requirement to meet the increasing global food demand amid shrinking agricultural land, adoption of advanced technologies such as IoT and AI by farmers, and government initiatives to promote precision farming are driving the demand for smart agriculture solutions globally. Smart agriculture leverages modern technologies to help farmers monitor crops, optimize irrigation, assess soil quality and retrieve actionable insights to boost productivity and maximize output. Many technology companies are investing heavily in development of sensors, automation equipment, farm management software and data analytics tools for agriculture to make farming smarter, more efficient and sustainable. It is expected that the concept of digital agriculture will transform traditional farming practices considerably over the coming decade.
Market Dynamics:
The global smart agriculture solution market is witnessing strong growth driven by increasing food demand, reduction in availability of cultivatable land and labor, and rising adoption of advanced technologies by farmers worldwide. However, high initial investments required for deployment of smart agriculture tools and lack of adequate knowledge among certain farmers about these solutions pose challenges to market growth. On the positive side, growing support from governments and international organizations in the form of initiatives, projects and funding to promote adoption of smart farming techniques present significant opportunities for market players. In addition, integration of various technologies including IoT, AI, robotics, drones and sensors is expected to make agriculture far more efficient, sustainable and profitable in the future.
Key features of the study:
- This report provides an in-depth analysis of the global smart agriculture solution market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global smart agriculture solution market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Afimilk Ltd., AGCO Corporation, Allflex Livestock Intelligence, AKVA Group, CropMetrics LLC, Deere & Company, DeLaval, Dirt Road Data Inc., Heliospectra AB, Innovasea Systems Inc., Iteris Inc., Pinduoduo, Trimble Deere & Company, Trimble Inc., and XAG Agriculture.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global smart agriculture solution market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart agriculture solution market.
Detailed Segmentation:
- By Component
- Hardware
- Sensor Monitoring System
- Smart Detection System
- GPS Enabled Ranging System
- Drones
- Software
- Services
- Climate Information Service
- Supply Chain Management Service
- Others (System Integration, Maintenance and Consulting Service)
- By Application
- Automated Machinery Guidance Control
- Tractor Collision and Obstacle Detection
- Machinery Safety and Parameter Monitoring
- Variable Rate Technology
- Building and Premises Surveillance
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Key Players Insights
- Afimilk Ltd.
- AGCO Corporation
- Allflex Livestock Intelligence
- AKVA Group
- CropMetrics LLC
- Deere & Company
- DeLaval
- Dirt Road Data Inc.
- Heliospectra AB
- Innovasea Systems Inc.
- Iteris Inc.
- Pinduoduo
- Trimble Deere & Company
- Trimble Inc.
- XAG Agriculture Company
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Component
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New System Launches/Approvals
- Impact of COVID-19 Pandemic
4. Global Smart Agriculture Solution Market, By Component, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Hardware
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Sensor Monitoring System
- Smart Detection System
- GPS Enabled Ranging System
- Drones
- Software
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Services
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Climate Information Service
- Supply Chain Management Service
- Others (System Integration, Maintenance and Consulting Service)
5. Global Smart Agriculture Solution Market, By Application, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
- Automated Machinery Guidance Control
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Tractor Collision and Obstacle Detection
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Machinery Safety and Parameter Monitoring
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Variable Rate Technology
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Building and Premises Surveillance
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
6. Global Smart Agriculture Solution Market, By Region, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031 (US$ Bn)
- Market Share Analysis, By Country, 2024 and 2031 (%)
- South Africa
- GCC Countries
- Rest of the Middle East and Africa
7. Competitive Landscape
- Company Profiles
- Afimilk Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- AGCO Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Allflex Livestock Intelligence
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- AKVA Group
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- CropMetrics LLC
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Deere & Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- DeLaval
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Dirt Road Data Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Heliospectra AB
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Innovasea Systems Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Iteris Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Pinduoduo
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Trimble Deere & Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Trimble Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- XAG Agriculture Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
8. Wheel of Fortune
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
9. Reference and Research Methodology
- References
- Research Methodology
- About us and Sales Contact