Smart Agriculture Market Size, Emerging Trends and Technological Analysis till 2030

Posted on 2022-06-20 by researchinsights in Agriculture, Technology // 0 Comments

San Francisco, California , USA, June 20, 2022 — /EPR Network/ —

Smart Agriculture Industry Overview

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. 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.

Smart Agriculture Market Segmentation

Grand View Research has segmented the Smart Agriculture market based on types, offering, application, and regions

Based on the Product Type Insights, the market is segmented into Precision farming, Livestock monitoring, Smart greenhouse and Others.

In 2021, the livestock monitoring segment accounted for a market share of 21.97% of the global smart farming market.
The market estimates and forecasts of the smart greenhouse segment include 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.

Based on the Offering Insights, the market is segmented into Hardware, Software and Services.

The software segment is likely to portray the highest growth rate from 2022 to 2030. It was valued at USD 3,012.4 million in 2021 and is expected to expand at a CAGR of 13.5% during the forecast period.

Based on the Application Insights, the market is segmented into Precision farming application, Livestock monitoring application and Smart greenhouse application.

In 2021, the yield monitoring segment held a market share of 44.09%. 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 smart greenhouse includes water & fertilizer management, HVAC management, yield monitoring, and others. The HVAC management segment is expected to expand significantly during the forecast period as increasingly 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.

Smart Agriculture Regional Outlook

North America
Europe
Asia Pacific
South America
Middle East & Africa (MEA)

Key Companies Profile

Industry players are engaging in numerous inorganic growth strategies, such as frequent mergers and acquisitions, in their endeavor to expand their product portfolio. Key market players are aggressively establishing partnerships and collaborations to strengthen their market presence and customer base.

Some prominent players in the global Smart Agriculture 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
Raven Industries
SST Development Group, Inc.
Trimble Inc.
The Climate Corporation
Topcon

Order a free sample PDF of the Smart Agriculture Market Intelligence Study, published by Grand View Research.

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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