Global Smart Agriculture Market Valued at $16.50 Billion in 2023, Expected to Expand at a 9.3% CAGR Over the Forecast Period

𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐆𝐫𝐨𝐰𝐭𝐡:

𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at US$ 16.50 Bn in 2023. The Global Smart Agriculture Market is estimated to grow at a CAGR of 9.3% over the forecast period.

𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Smart farming is a management concept that focuses on creating a framework for the agricultural industry to leverage advanced technologies such as big data, the cloud, and the internet of things (IoT) to track, automate, and analyze operations. From a service and product standpoint, smart agriculture is rapidly evolving. Transformations in company models, technological upheavals, and organizational adjustments are all creating an exciting but challenging opportunity.

Furthermore, developments in software and hardware technology are allowing a new method of farming, notably with the advent of smart sensors, robotic automation, contemporary biology, and digital data, as well as many huge incumbents recognising the need for smart agriculture.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/req_sample/Smart-Agriculture-Market/462

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬?

Growth Drivers:

Government Support: Increased support for modern techniques and AI/IoT adoption among farmers boosts market growth. There's a growing focus on disease detection and livestock monitoring to enhance efficiency.
Technological Advancements: Innovations in smart sensors, robotics, and digital data are transforming farming practices, leading to more efficient and productive agriculture.
Challenges:

Fragmentation: The fragmented nature of agriculture makes standardizing solutions difficult and leads to inefficient resource distribution and high costs. Implementing smart technologies across fragmented farms is time-consuming and costly.
Opportunities:

Technological Integration: Advancements in biotechnology, genetic engineering, and mechanization improve efficiency and crop yields. IoT-based sensors aid in farm management, soil parameter measurement, and post-harvest commerce, driving market growth.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 ?

Asia-Pacific Dominates the market with a 46% share as of 2023. Rapid adoption of smart agriculture technologies in rising economies like India and China is driving growth. Key factors include increased use of variable rate technology, smart irrigation controllers, and AI-based analytics. The region's growing demand for livestock and aquaculture automation also contributes to market expansion. Singapore's market is expected to grow significantly due to high food import dependency.

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰! @https://www.stellarmr.com/report/req_sample/Smart-Agriculture-Market/462

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 ?

By Type

Precision Farming
Livestock
Aquaculture
Greenhouse
Others
By Component

Solution
Service
Connectivity Technology

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐀𝐠𝐫𝐢𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

John Deere (US)
Trimble (US)
Topcon Positioning Systems (US)
DeLaval (Sweden)
AKVA(Norway)
Antelliq (France)
Afimilk (Israel)
InnovaSea Systems (US)
Heliospectra (Sweden)
LumiGrow(US)
Raven Industries (Sioux Falls, SD)
Precision Planting (US)
Boumatic (Madison)
AG Leader Technology (Ames, Lowa)
SST Development Group (Washington)

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Smart-Agriculture-Market/462

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Industrial Sugar Market https://www.stellarmr.com/report/Industrial-Sugar-Market/1085

Anti-Acne Cosmetics Market https://www.stellarmr.com/report/Anti-Acne-Cosmetics-Market/487

Anemia Treatment Market https://www.stellarmr.com/report/Anemia-Treatment-Market/496

Analgesics Market https://www.stellarmr.com/report/Analgesics-Market/498

5G in Healthcare Market https://www.stellarmr.com/report/5G-in-Healthcare-Market/517

Coagulation Analyzers Market https://www.stellarmr.com/report/Coagulation-Analyzers-Market/650

Digital Medicine Market https://www.stellarmr.com/report/Digital-Medicine-Market/676

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

S.no.8, h.no. 4-8 Pl.7/4, Kothrud,

Pinnac Memories Fl. No. 3, Kothrud, Pune,

Pune, Maharashtra, 411029

sales@stellarmr.com

𝐀𝐛𝐨𝐮𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.