Press release
Global Smart Agriculture Market Size 2023-2028: Top Companies - AG Leader Technology, AGCO Corporation, AgJunction Inc. (Kubota Corporation), CLAAS KGaA mbH, CropMetrics LLC (CropX inc.), Deere & Company
Global Smart Agriculture Market Size
The global smart agriculture market size reached US$ 15.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.68 Billion by 2028, exhibiting a growth rate (CAGR) of 9.33% during 2023-2028.
What is Smart Agriculture?
Smart agriculture is an innovative approach that leverages technology and data-driven techniques to optimize various aspects of farming. It relies on data collection and analysis for informed decisions about crop management, irrigation, and resource allocation. It incorporates automation technologies, allowing farmers to remotely control and monitor farming operations, including irrigation, pest control, and harvesting. It promotes sustainable farming practices by optimizing resource use, reducing environmental impact, and minimizing waste. It reduces water, fertilizer, and energy usage, lowering production costs and environmental impact. Besides this, it facilitates the entire supply chain, which includes monitoring storage conditions and optimizing transportation routes.
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What are the growth prospects and trends in the smart agriculture industry?
The increasing global population and the escalating demand for food across the globe represent one of the key factors stimulating the market growth.
Additionally, the rising depletion of resources like water and arable land is catalyzing the demand for smart agriculture technologies to optimize resource use, making farming more sustainable.
Apart from this, ongoing advancements in sensors, the Internet of Things (IoT), artificial intelligence (AI), and automation technologies are making it easier and more affordable for farmers to adopt smart agriculture solutions.
Moreover, governments of various countries are supporting smart agriculture with incentives, subsidies, and regulations that promote sustainable farming practices.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Agriculture Type:
• Precision Farming
• Livestock Monitoring
• Smart Greenhouse
• Others
Breakup by Offering:
• Hardware
• Software
• Service
Breakup by Farm Size:
• Small
• Medium
• Large
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Some of the Top Key players in the Smart Agriculture Market
AG Leader Technology
AGCO Corporation
AgJunction Inc. (Kubota Corporation)
CLAAS KGaA mbH
CropMetrics LLC (CropX inc.)
Deere & Company
DICKEY-john
Farmers Edge Inc.
Gamaya
Granular Inc. (Corteva Inc.)
Raven Industries Inc. (CNH Industrial N.V.)
Trimble Inc.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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