Smart Agriculture Market Size Worth $35.98 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, April 21, 2022 /PRNewswire/ -- The global smart agriculture market size is anticipated to reach USD 35.98 billion by 2030, expanding at a CAGR of 10.8% during the forecast period, according to a new report by Grand View Research, Inc. Factors such as consistent growth in population, low availability of cultivable land, government incentives, and demand for fresh and high-quality food are expected to drive the smart greenhouse market.
Key Insights & Findings from the report:
- The software segment is expected to portray the highest growth rate, registering a CAGR of 13.5% during the forecast period.
- The LED grow light segment is anticipated to witness a considerable growth rate during the forecast period.
- The yield monitoring segment held a market share of 44.09% in 2021. This can be attributed to the growing need to provide timely water and minerals and monitor crop growth.
- North America led the global smart agriculture market with a share of 45.09% in 2021. Growing government initiatives and regulations to enhance agriculture in the region are expected to drive regional demand in North America throughout the forecast period.
Read 150-page market research report, "Smart Agriculture Market Size, Share & Trends Analysis Report By Type (Precision Farming, Livestock Monitoring, Smart Greenhouse, Others), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Smart Agriculture Market Growth & Trends
According to the World Health Organization (WHO) and Population Council, 80% of the global population resides in urban cities. The prevailing scarcity of land in urban cities has urged growers to adopt new solutions for developing fresh produces. For instance, the vertical farming technique enables consumers to grow crops indoors in layers, in a multi-story building, stacked on racks, or in a warehouse.
The growing population is expected to result in increased food demand by 2050. Farmers are likely to witness immense pressure in increasing crop production, either by making more land available to grow crops or by adopting newer techniques, such as smart agriculture and vertical farming. Traditional farming techniques witness several barriers, such as climate change and high labor costs. These disadvantages can be overcome with the use of technologies such as LED indoor farming, which creates a nature-like condition to help farmers meet the swelling food demand. Additionally, the changing preference of consumers toward healthier and fresh foods is expected to drive market growth during the forecast period.
Agri M2M offers significant opportunities to mobile operators owing to its potential to generate additional revenue through value-added services. For instance, bundling M2M services with a voice or data offering for rural enterprise customers is likely to enhance the application of M2M. Agri VAS has been developed to overcome the information gap faced by farmers in emerging markets, such as China and India. Additionally, it also helps in connecting the cultivators with other key players in the agriculture supply chain. Agriculture Value Added Services (VAS) have increased over the past few years owing to their rising awareness among VAS providers, mobile operators, and farmers. A few types of M2M connectivity include cellular M2M, satellite & fixed network, power line, and short-range connections such as Wi-Fi, Ethernet, and ZigBee.
Smart Agriculture Market Segmentation
Grand View Research has segmented the Smart Agriculture market based on offering, application, and regions
Smart Agriculture Type Outlook (Revenue, USD Million; 2017 - 2030)
- Precision farming
- Livestock monitoring
- Smart greenhouse
- Others
Smart Agriculture Market - 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
- Water sensors
- Climate sensors
- Others
- HVAC system
- LED grow light
- RFID tags & readers
- Software
- Web-based
- Cloud-based
- Services
- System integration & consulting
- Maintenance & support
- Managed services
- Data services
- Analytics services
- Farm operation services
- Assisted professional services
- Supply chain management services
- Climate information services
Smart Agriculture Market - 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
Smart Agriculture Market - Regional Outlook (Revenue, USD Million; 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Netherlands
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- South America
- Brazil
- Middle East & Africa
- Turkey
List of Key Players in Global Smart Agriculture Market
- 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
- CLAAS KGaA mbH
- CropZilla
- Deere & Company
- DICKEY-john
- DroneDeploy
- DeLaval Inc
- Farmers Edge Inc
- Grownetics, Inc.
- Granular, Inc.
- Gamaya
- GEA Group Aktiengesellschaft
- Raven Industries
- SST Development Group, Inc
- Trimble Inc.
- The Climate Corporation
- Topcon
Check out more related studies published by Grand View Research:
- Agriculture Drone Market - The global agriculture drone market is expected to reach USD 3,770.0 million by 2024, according to a new report by Grand View Research, Inc. The increasing technological advancements in equipment and for enhancing the quality of the farming techniques have led to the increased implementation of agriculture drones in the market.
- Artificial intelligence in Agriculture Market - The global artificial intelligence in agriculture market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 25.4% from 2019 to 2025.
- Precision Farming Market - The global precision farming market size is anticipated to reach USD 20.84 billion by 2030. The growth of precision agriculture is attributed to the burgeoning proliferation of the Internet of Things (IoT) along with the use of advanced analytics by farmers.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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