The Global Smart Agriculture Market was $14.5 Bn in 2020, and it is expected to reach $45.6 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 10.6% between 2021-2031. Smart agriculture is defined as the smart process of performing agriculture activities using advanced technologies. The process is an innovative way of controlling and handling farming by reducing human efforts. The rising demand for advanced technology in agriculture, time-consuming, higher growth is the prime factor for the growth of the smart agriculture market during the forecast period. Most of the farmers over the global demand for smart agriculture for crop production. The technology can increase the growth rate of crops. Apart from that, increasing awareness of livestock food is expecting to drive the smart agriculture market. Now, Moving forward, the robust demand for Global Smart Agriculture Market in the farming department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031.
Global Smart Agriculture Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The Smart Agriculture Market is segmented into the offering, agriculture type, application, and farm size. Offering the global Smart Agriculture market is divided into Hardware, Software, and Services. By Agriculture Type, the global Smart Agriculture market has been bifurcated as Precision Farming, Precision Forestry, Livestock Monitoring, Smart Greenhouse, Smart Feeding Systems, Monitoring, And Control Systems, Underwater Remotely Operated Vehicles, Precision Aquaculture, and Others. By Application Smart Agriculture market is segmented into precision Farming Applications, Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking And Forecasting, Variable Rate Application, Inventory Management, Farm Labor Management, and Financial Management, Precision Forestry Applications, Genetics And Nurseries, Silviculture And Fire Management, Harvesting Management, and Inventory And Logistics Management, Livestock Monitoring Applications, Milk Harvesting Management, Breeding Management, Feeding Management, Heat Stress Management, Animal Comfort Management, and Behavior Monitoring And Control, Precision Aquaculture Applications, Feeding Management, Monitoring, Control, And Surveillance, Smart Greenhouse Applications, HVAC Management, Yield Monitoring And Harvesting, Water & Fertilizer Management, and Others. By Farm Size, the global Smart Agriculture market has divided into Small Farms, Medium-Sized Farms, and Large Farms.
By Region, Asia Pacific is Holding the Major Market Share
The Smart Agriculture Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, Asia Pacific is expected to grow at 13.77% of CAGR over the forecast period. The huge demand for the food and dairy market is propelling the market growth. Apart from this, the growing population of India, China, and other Asian country are driving the market growth for the huge demand for food. The advanced technology, availability of farmers, the government supports, and other factors are boosting the market growth during the forecast period. Apart from that, North America is expected to increase the growth rate over the upcoming forecast period of 2021 to 2031.
Major Players in the Global Smart Agriculture Market
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include GEA Group, Raven Industries, Ag Leader Technology, Agjunction, The Climate Corporation (Subsidiary Of Monsanto), Nedap Nv, Boumatic, LLC, Fancom B.V. (Subsidiary Of CTB International Corp.), Aquabyte, Steinsvik, Vemco, Nexus, Certhon, Quantum Spatial, and Hitachi Construction Machinery among others.
The Global Smart Agriculture Market Has Been Segmented into:
Global Smart Agriculture Market: By Offering
Global Smart Agriculture Market: By Agriculture Type
Global Smart Agriculture Market: By Application
Global Smart Agriculture Market: By Farm Size
Global Smart Agriculture Market: By Region