Smart farming market to grow by USD 7.04 Billion by 2026, Availability of low-cost cloud services that encourages farmers to adopt smart farming to boost market growth - Technavio

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Nov 17, 2022, 08:45 ET

NEW YORK, Nov. 17, 2022 /PRNewswire/ -- The smart farming market is expected to grow by USD 7.04 billion during 2021-2026, progressing at a CAGR of 13.65% during the forecast period. The report extensively covers smart farming market segmentation by application (soil and crop management, fleet management, storage and irrigation management, and indoor farming), product (automation and control systems and smart agriculture equipment and machinery), and geography (North America, Europe, APAC, Middle East and Africa, and South America). Request free sample report.

Market Driver

Technavio has announced its latest market research report titled Global Smart Farming Market 2022-2026

The availability of affordable cloud services that enable farmers to use smart farming is one of the main drivers fueling the expansion of the global smart agriculture business. As they gather data on the soil, crop health, and environmental factors that could affect the crops, sensors and other monitoring instruments are crucial in smart farming. The enormous amount of data produced by these monitoring tools are gathered in the cloud so that farmers may easily access the data they require. The systems help farmers have a better grasp of the various elements that can be used to boost crop productivity.

Following are some of the main advantages of using cloud technology in agriculture:

Acts as a database for information about crops, weather, soil, and professional consultations.
Increases the overall crop production, encouraging the larger circulation of agricultural goods and services.
Enhances the quality of agricultural goods as well as farmers' economic conditions

Download a free sample for highlights on market Drivers & Challenges affecting the Smart Farming Market.

Smart Farming Market Vendors

Ag Leader Technology: The company offers smart farming solutions for growers seeking a cost-effective GPS receiver and designed for general mapping and AutoSwath functions.
AGCO Corp.: The company offers smart farming solutions which help customers improve uptime, machine optimization, fleet optimization, and decision support.
Bayer AG: The company offers smart farming solutions which include digital applications like Climate FieldView which enable farmers to collect and analyze data from their fields to help make better, more informed decisions that can also improve harvests.
Deere and Co.: The company offers smart farming solutions which help in collecting valuable information quickly and easily, so one can analyze it to make better decisions, or share it with advisors.
Farmers Edge Inc.: The company offers smart farming solutions by combining on-farm hardware, easy-to-use software, digital agronomy, AI-driven analytics, and support to growers that helps farm data, manage risks and maximize returns.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Buy Sample Report.

Smart Farming Market Application Outlook (Revenue, USD billion, 2021-2026)

The smart farming market share growth by the soil and crop management segment will be significant during the forecast period. Different factors, including temperature, humidity, environment, and insect damage, might have an impact on the crop's status. Hence, the smart farming market for soil and crop management will be in demand in the forecast years.

Soil and crop management - size and forecast 2021-2026
Fleet management - size and forecast 2021-2026
Storage and irrigation management - size and forecast 2021-2026
Indoor farming - size and forecast 2021-2026

Smart Farming Market Product Outlook (Revenue, USD billion, 2021-2026)

Automation and control systems - size and forecast 2021-2026
Smart agriculture equipment and machinery - size and forecast 2021-2026

Smart Farming Market Geography Outlook (Revenue, USD billion, 2021-2026)

North America will account for 39% of the market's growth over the forecasted timeframe. In North America, the US is the primary market for smart farming. The market in this region will expand more quickly than the market in South America. Over the projected period, the quick uptake of smart farming technologies and methods will support market expansion in North America.

North America - size and forecast 2021-2026
Europe - size and forecast 2021-2026
APAC - size and forecast 2021-2026
Middle East and Africa - size and forecast 2021-2026
South America - size and forecast 2021-2026

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Smart Farming Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 13.65%
Market growth 2022-2026	$7.04 billion
Market structure	Fragmented
YoY growth (%)	12.52
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 39%
Key consumer countries	US, China, Australia, France, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Ag Leader Technology, AGCO Corp., AgJunction Inc., Auroras Srl, Bacancy Technology, Bayer AG, Cropin Technology Solutions Pvt. Ltd., Cultyvate, Deere and Co., Digital Matter, DTN, Farmers Edge Inc., Gamaya, PrecisionHawk Inc., Raven Industries Inc., Robert Bosch GmbH, Telit Communications Plc, Topcon Positioning Systems Inc., Trimble Inc., and TSI Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments

Exhibit 25: Chart on Application - Market share 2021-2026 (%)
Exhibit 26: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application

Exhibit 27: Chart on Comparison by Application
Exhibit 28: Data Table on Comparison by Application

5.3 Soil and crop management - Market size and forecast 2021-2026

Exhibit 29: Chart on Soil and crop management - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Soil and crop management - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Soil and crop management - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Soil and crop management - Year-over-year growth 2021-2026 (%)

5.4 Fleet management - Market size and forecast 2021-2026

Exhibit 33: Chart on Fleet management - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Fleet management - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Fleet management - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Fleet management - Year-over-year growth 2021-2026 (%)

5.5 Storage and irrigation management - Market size and forecast 2021-2026

Exhibit 37: Chart on Storage and irrigation management - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Data Table on Storage and irrigation management - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Chart on Storage and irrigation management - Year-over-year growth 2021-2026 (%)
Exhibit 40: Data Table on Storage and irrigation management - Year-over-year growth 2021-2026 (%)

5.6 Indoor farming - Market size and forecast 2021-2026

Exhibit 41: Chart on Indoor farming - Market size and forecast 2021-2026 ($ million)
Exhibit 42: Data Table on Indoor farming - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Chart on Indoor farming - Year-over-year growth 2021-2026 (%)
Exhibit 44: Data Table on Indoor farming - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Application

Exhibit 45: Market opportunity by Application ($ million)

6 Market Segmentation by Product

6.1 Market segments

Exhibit 46: Chart on Product - Market share 2021-2026 (%)
Exhibit 47: Data Table on Product - Market share 2021-2026 (%)

6.2 Comparison by Product

Exhibit 48: Chart on Comparison by Product
Exhibit 49: Data Table on Comparison by Product

6.3 Automation and control systems - Market size and forecast 2021-2026

Exhibit 50: Chart on Automation and control systems - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Automation and control systems - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Automation and control systems - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Automation and control systems - Year-over-year growth 2021-2026 (%)

6.4 Smart agriculture equipment and machinery - Market size and forecast 2021-2026

Exhibit 54: Chart on Smart agriculture equipment and machinery - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Smart agriculture equipment and machinery - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Smart agriculture equipment and machinery - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Smart agriculture equipment and machinery - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Product

Exhibit 58: Market opportunity by Product ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 60: Chart on Market share by geography 2021-2026 (%)
Exhibit 61: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison

Exhibit 62: Chart on Geographic comparison
Exhibit 63: Data Table on Geographic comparison

8.3 North America - Market size and forecast 2021-2026

Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.4 Europe - Market size and forecast 2021-2026

Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.5 APAC - Market size and forecast 2021-2026

Exhibit 72: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 76: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.7 South America - Market size and forecast 2021-2026

Exhibit 80: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026

Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 China - Market size and forecast 2021-2026

Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)

8.10 France - Market size and forecast 2021-2026

Exhibit 92: Chart on France - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on France - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on France - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on France - Year-over-year growth 2021-2026 (%)

8.11 Germany - Market size and forecast 2021-2026

Exhibit 96: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 97: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 98: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 99: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.12 Australia - Market size and forecast 2021-2026

Exhibit 100: Chart on Australia - Market size and forecast 2021-2026 ($ million)
Exhibit 101: Data Table on Australia - Market size and forecast 2021-2026 ($ million)
Exhibit 102: Chart on Australia - Year-over-year growth 2021-2026 (%)
Exhibit 103: Data Table on Australia - Year-over-year growth 2021-2026 (%)

8.13 Market opportunity by geography

Exhibit 104: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 105: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 107: Overview on factors of disruption

10.4 Industry risks

Exhibit 108: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 109: Vendors covered

11.2 Market positioning of vendors

Exhibit 110: Matrix on vendor position and classification

11.3 Ag Leader Technology

Exhibit 111: Ag Leader Technology - Overview
Exhibit 112: Ag Leader Technology - Product / Service
Exhibit 113: Ag Leader Technology - Key offerings

11.4 AGCO Corp.

Exhibit 114: AGCO Corp. - Overview
Exhibit 115: AGCO Corp. - Business segments
Exhibit 116: AGCO Corp. - Key news
Exhibit 117: AGCO Corp. - Key offerings
Exhibit 118: AGCO Corp. - Segment focus

11.5 Bayer AG

Exhibit 119: Bayer AG - Overview
Exhibit 120: Bayer AG - Business segments
Exhibit 121: Bayer AG - Key offerings
Exhibit 122: Bayer AG - Segment focus

11.6 Deere and Co.

Exhibit 123: Deere and Co. - Overview
Exhibit 124: Deere and Co. - Business segments
Exhibit 125: Deere and Co. - Key news
Exhibit 126: Deere and Co. - Key offerings
Exhibit 127: Deere and Co. - Segment focus

11.7 Farmers Edge Inc.

Exhibit 128: Farmers Edge Inc. - Overview
Exhibit 129: Farmers Edge Inc. - Product / Service
Exhibit 130: Farmers Edge Inc. - Key offerings

11.8 Raven Industries Inc.

Exhibit 131: Raven Industries Inc. - Overview
Exhibit 132: Raven Industries Inc. - Business segments
Exhibit 133: Raven Industries Inc. - Key news
Exhibit 134: Raven Industries Inc. - Key offerings
Exhibit 135: Raven Industries Inc. - Segment focus

11.9 Robert Bosch GmbH

Exhibit 136: Robert Bosch GmbH - Overview
Exhibit 137: Robert Bosch GmbH - Business segments
Exhibit 138: Robert Bosch GmbH - Key news
Exhibit 139: Robert Bosch GmbH - Key offerings
Exhibit 140: Robert Bosch GmbH - Segment focus

11.10 Telit Communications Plc

Exhibit 141: Telit Communications Plc - Overview
Exhibit 142: Telit Communications Plc - Business segments
Exhibit 143: Telit Communications Plc - Key offerings
Exhibit 144: Telit Communications Plc - Segment focus

11.11 Trimble Inc.

Exhibit 145: Trimble Inc. - Overview
Exhibit 146: Trimble Inc. - Business segments
Exhibit 147: Trimble Inc. - Key offerings
Exhibit 148: Trimble Inc. - Segment focus

11.12 TSI Inc.

Exhibit 149: TSI Inc. - Overview
Exhibit 150: TSI Inc. - Product / Service
Exhibit 151: TSI Inc. - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 152: Inclusions checklist
Exhibit 153: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 154: Currency conversion rates for US$

12.4 Research methodology

Exhibit 155: Research methodology
Exhibit 156: Validation techniques employed for market sizing
Exhibit 157: Information sources

12.5 List of abbreviations

Exhibit 158: List of abbreviations

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