Smart Agriculture Market by Precision Farming, Livestock Monitoring, Precision Aquaculture, On-Cloud, On-Premises, System Integration & Consulting, Harvesting Management, HVAC Management and Water and Fertilizer Management – Global Forecast to 2029

Smart Agriculture Market by Precision Farming, Livestock Monitoring, Precision Aquaculture, On-Cloud, On-Premises, System Integration & Consulting, Harvesting Management, HVAC Management and Water and Fertilizer Management – Global Forecast to 2029

The smart agriculture market is expected to reach USD 23.38 billion by 2029 from USD 14.40 billion in 2024, at a CAGR of 10.2% during the 2024-2029 period.

“The growing emphasis on sustainable practices is propelling the expansion of the smart agriculture market.”

Market growth in smart agriculture is driven by increased need for sustainable agricultural practices. As these technologies deliver fundamental tools that lessen environmental impact and maintain higher productivity. Smart agriculture thus empowers the farmers to use their resources better through data-driven decisions which reduces any wastage or inefficiency. IOT sensors, Al analytics, and automated machinery deliver a sustainable approach towards farming in various crop conditions as they can be monitored and regulated in real-time. This accuracy produces enhanced yields with minimum resources, while maintaining soil health and biodiversity. Due to the growing awareness of sustainability across the world, these benefits make smart agriculture an important investment for both environmental and ecological issues.

“Livestock monitoring is expected to register the highest CAGR during the forecast period”

Livestock monitoring plays a crucial role in modern animal husbandry, focusing on enhancing the health, productivity, and welfare of farm animals. By employing various technologies and techniques, livestock monitoring enables farmers to collect, analyze, and interpret data related to animal behavior, health, and performance. This data-driven approach helps farmers make informed decisions regarding animal management practices. A key tool in livestock monitoring is wearable devices, such as collars or ear tags, which are equipped with sensors that track vital parameters like movement, temperature, and other physiological data of individual animals. These devices provide real-time monitoring, allowing farmers to stay informed about the health and well-being of their animals. Therefore, livestock monitoring application is expected to register the highest CAGR during the forecast period

“Asia Pacific is projected to grow at the highest CAGR during the forecast period”

The Asia Pacific region is expected to grow at the highest CAGR during the forecast period in the smart agriculture market. The rising adoption of technologies such as variable rate systems, smart irrigation controllers, and Al-powered farm analytics services is a major growth driver in this region. Moreover, the growing demand for automation in livestock and aquaculture farming across the region is anticipated to further enhance the market. Increasing animal numbers and the need for more meat products in places such as China, Australia, India, and Japan further catalyzes regional growth. The growing knowledge among farm owners about the benefits of smart agricultural technologies, such as faster responses, reliability, and cost efficiency, will further boost demand for such solutions in the Asia Pacific.

In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the smart agriculture market.

The break-up of the profile of primary participants in the smart agriculture market-

By Company Type: Tier 1 – 40%, Tier 2 – 40%, Tier 3 – 20%

By Designation Type: Directors – 40%, Managers – 40%, Others – 20%

By Region Type: Americas – 40%, Europe –20 %, Asia Pacific– 30%, RoW – 10%,

The major players in the smart agriculture market are Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Topcon (US), DeLaval (Sweden), AKVA Group (Norway), Allflex Livestock Intelligence (MSD Animal Health), Innovasea Systems Inc. (US), Afimilk Ltd. (Israel), Heliospectra (Sweden), Ponsse Oyj (Finland), Komatsu Forest (Sweden), ScaleAQ (Norway), Tigercat International Inc. (Canada), Ag Leader Technology (US), Certhon, Nedap N.V. (Netherlands), Argus Control Systems Limited (Canada), DAIRYMASTER (Ireland), DICKEY-john (US), ABACO S.P.A. (Italy), TeeJet Technologies (US), Fancom BV (Netherlands), Sensaphone (US), BouMatic (US), and CeresAI (US).

Research Coverage

This report has categorized the smart agriculture market by agriculture type (precision farming, precision forestry, livestock monitoring, precision aquaculture, smart greenhouse, other agriculture types), offering (hardware, software, services), farm size (small, medium, and large), application (precision farming, precision forestry, livestock monitoring, precision aquaculture, smart greenhouse, other applications), and region (Americas, Europe, Asia Pacific, RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the smart agriculture market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; collaborations, partnerships, agreements, contracts, product launches, product developments, joint ventures, sales partnerships, acquisitions, and recent developments associated with the smart agriculture market. Competitive analysis of upcoming startups in the smart agriculture market ecosystem is covered in this report

Reasons to buy the report:

The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall smart agriculture market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the objectives of the market and provides information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (The growing emphasis on sustainable practices is propelling the expansion of the smart agriculture market), restraints (interoperability issues due to absence of standardization and protocols), opportunities (accelerating investments and initiatives towards smart agriculture), and challenges (presence of security and privacy risks)

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches, and product developments in the smart agriculture market

Market Development: Comprehensive information about lucrative markets – the report analyses the smart agriculture market across varied regions.

Market Diversification: Detailed information about new products, untapped geographies, recent developments, and investments in the smart agriculture market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Deere & Company (US), Trimble Inc. (US), AGCO Corporation (US), Topcon (US), DeLaval (Sweden). Show more