Press release
Self-Sustaining Smart Farms industry projected to reach USD 2,360.47 million by 2034, growing at a CAGR of 10.3%
The global self-sustaining smart farms market size was valued at USD 890.11 million in 2024. It is anticipated to generate an estimated revenue of USD 2,360.47 million by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust CAGR of 10.3% over the forecasted timeframe of 2025-2034.
Market Overview
Self-sustaining smart farms leverage advanced technologies and data-driven farm functions to maximize and enhance sustainability in agricultural production. Technologies used in smart framing include artificial intelligence (AI), automation, and the Internet of Things (IoT). IoT devices play a crucial role, with various sensors used for observing crops, tracking livestock, and monitoring the situation of farm equipment. Additionally, unmanned aerial vehicles (UAVs), or drones, equipped with light detection and ranging (LiDAR) technology, gather agricultural data through remote sensing.
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Market Drivers
Dearth in Agricultural Labor: Several regions encounter a dearth of expert labor in agriculture rendering conventional farming practices arduous to sustain. For instance, as per the World Bank, in India itself, agriculture work decreased to 44% in 2022 of the aggregate population from 58% in 2002, portraying the dearth of labor in the agricultural sector, thus boosting the self-sustaining smart farms market demand.
Escalating Significance of Sustainable Agriculture: Governments globally are growingly identifying the significance of sustainable agriculture and are providing reinforcement for technologies that encourage it. Incentives, subsidies, and grants are obtainable to farmers to acquire smart farming solutions. For instance, the Government of India instigated the National Mission for Sustainable Agriculture (NMSA), in which USD 131.56 million in finances was offered as of 2024.
Competitive Landscape
The competitive landscape of the market is portrayed by fierce contention amidst key players struggling for market dominance. Leading firms concentrate on product invention, strategic partnerships, and mergers and acquisitions to fortify their market position. Some of the prominent players operating in the market include:
• AGCO Corporation
• Agrifac Machinery B.V.
• AgriVijay
• Autonomous Solutions, Inc.
• Eden Green Technology
• Freight Farms, Inc.
• John Deere
• KUBOTA Corporation
• RootWave (Ubiqutek Ltd)
• Saint-Gobain Cultilen
• Trimble Inc.
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Self-Sustaining Smart Farms Market Report Highlights
• By farm type, the greenhouse-based smart farms segment dominated the self-sustaining smart farms market share in 2024, as it offers greater efficiency in water usage, pest control, and energy consumption, making them highly sustainable.
• The hardware segment, by component, is expected to witness faster growth during the forecast period due to the increasing demand for advanced farming equipment and devices, such as sensors, automated irrigation systems, drones, and robotics.
• In 2024, North America dominated the global self-sustaining smart farms market revenue share due to the rising adoption of smart farming solutions.
• Asia Pacific is expected to record a significant share during the forecast period. Countries such as China, India, and Japan are increasingly adopting smart farming technologies to address challenges such as food security, water scarcity, and labor shortages.
Regional Analysis
The self-sustaining smart farms market exhibits notable regional variations driven by economic conditions, technological advancements, and industry-specific demand. North America remains a dominant force supported by progressive agricultural technologies and a concentration on sustainability.
Asia Pacific garnered a prominent share due to the confrontation of provocations such as water dearth and labor shortages.
• North America
o US
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Netherlands
o Rest of Europe
Segmental Outlook
By Component (Revenue - USD Million, 2020-2034)
• Hardware
• Software
By Farm Type (Revenue - USD Million, 2020-2034)
• Vertical Farms
• Aquaponics Farms
• Greenhouse-Based Smart Farms
• Open-Field Smart Farms
• Others
By End User (Revenue - USD Million, 2020-2034)
• Agripreneurs
• Commercial Agriculture Enterprises
• Government
• Academic & Research Institute
• Others
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