Kings Research™ presents this information in its report titled, “Smart Agriculture Market Size, Share & Industry Analysis,Type (Hardware, Software, Services), Application (Precision Farming, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse, Others), and Regional Forecast, 2024 – 2032”

Smart Agriculture Market was valued at USD 14.32 billion in 2022 and is projected to reach USD 45.39 billion by 2030, growing at a CAGR of 15.55% from 2024 to 2030. 

Key Industry Developments

October 2022 (Product Launch) - Trimble Inc. launched new agriculture displays that offer next-generation capabilities. These advanced displays provide farmers with improved functionality, including enhanced connectivity, intuitive interfaces, and integrated precision agriculture features, to optimize their farming operations and increase productivity.

June 2021 (Acquisition) - CNH Industrial announced its plan to acquire Raven Industries, a move that will strengthen its smart agriculture capabilities and scale. This strategic acquisition will enable CNH Industrial to offer a broader range of solutions and technologies to the agricultural industry, further enhancing its position in the market.

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Key Market Players: 

Deere & Company, Trimble Inc., Raven Industries, Agco Corporation, Topcon Positioning Systems, Autonomous Solutions, Inc., Delaval Inc, Farmers Edge Inc, Boumatic Robotic B.V., Agjunction, Inc., and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

Regional Insights:

The Asia-Pacific region is emerging as the fastest-growing market, with a projected CAGR of 19.99%. This growth is primarily driven by the region's focus on sustainable practices and efficient resource management, particularly water conservation. Farmers in this region are increasingly adopting smart agricultural technologies such as sensor-based monitoring and precision irrigation systems

Market Drivers:

Several key factors are fueling this growth. The expansion of farm sizes and the adoption of precision farming techniques are major contributors. These advancements enable enhanced efficiency, productivity, and profitability in the agriculture sector. Moreover, the integration of Infrastructural Health (IH) sensors is playing a crucial role in optimizing agricultural operations and resource conservation.

Technological Innovations

Precision Farming: The precise farming segment held the greatest market share of 62.52% in 2022. This segment's dominance is attributed to the benefits of precision agriculture, including reduced input costs and improved crop yields. Technologies such as GPS mapping, soil sampling, and data analytics are revolutionizing traditional farming methods.

Infrastructural Health Sensors: IH sensors continuously monitor the condition of agricultural infrastructure, such as irrigation systems and storage facilities, enabling real-time data collection and resource optimization. This technology supports sustainable farming practices and enhances operational efficiency.

Transplanting Technology: Topcon Positioning Systems introduced groundbreaking transplanting guidance and control technology in February 2024. This innovation is designed for specialty crop farmers, ensuring precise and efficient planting, thereby reducing labor requirements and improving overall productivity

Global Smart Agriculture Market is segmented as:

By Types:

• Hardware
• Software
• Services

By Application:

• Precision Farming
• Livestock Monitoring
• Fish Farm Monitoring
• Smart Greenhouse
• Others

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