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Smart Agriculture Market is expected to witness 10.6% CAGR between 2021-2031 | Global Industry Size, Share, Growth, Market Analysis and Forecast | Sheer Analytics and Insights
Published : February 2021

According to a new market research report published by sheer analytics and insights, “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”, as per the latest market research report titled Global Smart Agriculture Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.

Smart agriculture is defined as the intelligent process of performing agriculture activities using advanced technologies. The process is an innovative way of controlling and handling farming by reducing human efforts. Precision farming includes the automation system and sensing devices. These tools are used to monitoring the process of agriculture. The advanced technology in the farm field is boosting the market growth in the forecast period. Increasing demand for food around the globe, the need for livestock monitoring and controlling, and growing support from the government is expecting to drive the market growth. With usage of these tools and methods, farmers are expect to increase the output by more than three times of normal with proper utilization of natural resources such as water and bio fertilizers.

However, in this current pandemic of COVID-19, the overall market was little affected due to the increased demand for agricultural products. The major factor affected the market in short term are limited availability of equipment’s, and less skilled manpower. Governments across developing nations support farmers to adopt this type of farming and train farmers for the same. In addition to this, many private companies have taken the initiative to help farmers through their corporate social responsibility plan. Through CSR’s plan, many industrial and corporate sector companies also give support by providing proper advanced equipment and help in setting up these types of advanced practices.

Smart agriculture practices enablement with IoT and Artificial intelligence have changed the outlook of the agriculture industry. China in 2016 has initiated to make its whole agriculture production more effective according to the type of land. They target to implement smart agriculture methods, especially organic farming, and aquaculture development, with minimal resources and maximum output. AI is used in many agriculture applications and especially for livestock animals at present. With the help of facial recognition of livestock, it can suggest the farmer about the requirements of that specific livestock. Also, with the help of AI, farmers can know that the amount of nutrition given to the animals is sufficient or not. It also helps farmers to know about new concepts of animal feeding or overall handling.

Geographically, The Smart Agriculture Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa. Asia Pacific is expected to grow at the highest CAGR of 15.6% during the forecast period. This process is needed due to increased consumption and increasing population more than an average when compared around the world.

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.

Key Questions Covered in This Study:

  1. Why smart agriculture practices are needed?
  2. How are companies or government implementing these smart agriculture practices?
  3. What will be the output conversion while using these practices?
  4. Which country or region are adopting these technologies for their people?
  5. Which technologies are being used at present?
  6. Who are major stakeholders by region?
  7. What is the factor which will help the market to grow?
  8. Which type of agriculture are mostly benefited by different methods?

The Global Smart Agriculture Market Has Been Segmented into:

Global Smart Agriculture Market: By Offering

  • Hardware
  • Software
  • Services

Global Smart Agriculture Market: By Agriculture Type

  • Precision Farming
  • Precision Forestry
  • Livestock Monitoring
  • Smart Greenhouse
    • Smart Feeding Systems
    • Monitoring And Control Systems
    • Underwater Remotely Operated Vehicles
    • Others
  • Precision Aquaculture
  • Others

Global Smart Agriculture Market: By Application

  • Introduction
  • Precision Farming Applications
    • Yield Monitoring
    • Field Mapping
    • Crop Scouting
    • Weather Tracking and Forecasting
    • Variable Rate Application
    • Inventory Management
    • Farm Labor Management
    • Financial Management
    • Others
  • Precision Forestry Applications
    • Genetics And Nurseries
    • Silviculture And Fire Management
    • Harvesting Management
    • Inventory And Logistics Management
  • Livestock Monitoring Applications
    • Milk Harvesting Management
    • Breeding Management
    • Feeding Management
    • Heat Stress Management
    • Animal Comfort Management
    • Behavior Monitoring And Control
    • Others
  • Precision Aquaculture Applications
    • Feeding Management
    • Monitoring, Control, And Surveillance
    • Others
  • Smart Greenhouse Applications
    • HVAC Management
    • Yield Monitoring and Harvesting
    • Water & Fertilizer Management
  • Others
    • IOT
    • AI
    • Virtual Reality

Global Smart Agriculture Market: By Farm Size

  • Introduction
  • Small Farms
  • Medium-Sized Farms
  • Large Farms

Global Smart Agriculture Market: By Region

  • North America
    • USA
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America, Middle East & Africa
    • Brazil
    • South Africa
    • UAE
    • Rest of LAMEA
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