Press release
Agriculture 4.0 Market Size Projected To Reach 159.75 Billion By 2034 With A Cagr Of 14.4%
Agriculture 4.0
What Is the Projected Growth of the Agriculture 4.0 Market?
In recent times, the market size for Agriculture 4.0 has seen substantial growth. The market predictions suggest an increase from $81.20 billion in 2024, soaring to $93.20 billion in 2025. This significant growth, equating to a compound annual growth rate (CAGR) of 14.8%, is attributed to various factors. These include the rising usage of IoT devices, an increased adoption of autonomous vehicles, advancements in farm-to-table supply chains, greater investment in agricultural biotechnology, and the evolution of vertical farming.Expectations are high for a swift expansion in the agriculture 4.0 market over the coming years. Its value is predicted to escalate to $159.75 billion by 2029, boasting a compound annual growth rate (CAGR) of 14.4%. Factors contributing to this anticipated growth within the forecast period include an amplified focus on precision farming, a surge in demand for eco-friendly farming methods, the escalating relevance of connectivity and 5G technology, the increased acceptance of self-operating farming equipment, and growing investments in farm management software. Key trends predicted for the forecast period are innovation in technology, the rise of drone technology, self-driving tractors, the application of machine learning, and expansive data analytics.
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What Are the Different Agriculture 4.0 Market Segments?
The agriculture 4.0 market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Crop Type: Cereals And Grains, Oilseeds And Pulses, Other Crop Types
3) By Farm Size: Small Farms, Medium-Sized Farms, Large Farms
4) By Technology: Internet Of Things And Connected Devices, Artificial Intelligence And Machine Learning, Robotics And Automation, Big Data Analytics, Blockchain, Drones And Unmanned Aerial Vehicles, Cloud Computing
5) By Application: Farming, Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse, Other Applications
Subsegments:
1) By Hardware: Sensors, Drones, GPS Systems, Automated Tractors, Irrigation Systems
2) By Software: Farm Management Software, Precision Farming Software, Crop Monitoring Software, Analytics and Data Processing Software
3) By Services: Consulting Services, Data Analytics Services, IoT Connectivity Services, Remote Sensing Services
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What Are the Primary Drivers Shaping the Agriculture 4.0 Market?
The augmented need for food is anticipated to fuel the expansion of the agriculture 4.0 market. The term food demand is geared towards the volume of food consumers are prepared to buy at varying price points within a specified timeframe. The escalation in food demand is propelled by elements like growth in population, advancing urbanization, augmentation in income brackets, shifts in the dietary inclinations, and economic growth. These factors induce higher food consumption. Agriculture 4.0 bolsters food production by consolidating avant-garde technologies like artificial intelligence, IoT, robotics, and data analytics to perfect farming protocols, fortify crop surveillance and yield projection, curtail environmental consequences, and facilitate more proficient use of resources. This essentially stimulates superior productivity and sustainability in the farming sector. For example, records from the United States Department of Agriculture in October 2024 divulged that, in 83 underprivileged and moderately achieving nations, the demand for food is predicted to surge from 800.2 million metric tons in 2024 to 1,050.9 million metric tons by 2034. Consequently, the surge in food demand is anticipated to fuel the expansion of the agriculture 4.0 market.
Which Companies Are Leading in the Agriculture 4.0 Market?
Major companies operating in the agriculture 4.0 market are BASF SE, International Business Machines Corporation, Kubota Corporation, Mahindra & Mahindra Limited, AGCO Corporation, Deere & Company, Syngenta Group Co. Ltd., SZ DJI Technology Co. Ltd. (DJI Agriculture), Trimble Inc., Raven Industries Inc., Blue River Technology Inc., Sentera Inc., DICKEY-john Corporation, Grégoire SA, Ecorobotix SA, Iron Ox Inc., Robotics Plus Ltd, CNH Industrial NV, Stara SA Indústria de Implementos Agrícolas, Ekobot AB, Indigo Agriculture Inc., Naïo Technologies SAS, Jacto SA
What Are the Major Trends Shaping the Agriculture 4.0 Market?
Leading businesses participating in the agriculture 4.0 industry are concentrating on crafting unique technologies, like smart spray technology, designed to enhance overall operational effectiveness. This AI-driven system designed for smart spraying helps in precise herbicide applications, spraying only when weeds are detected, thereby increasing efficiency and reducing environmental footprint. For example, in April 2024, agricultural machinery firm Stara, headquartered in Brazil, unveiled products like Bruttus 18000, Hércules 10000 and 24000 Inox, Hércules 24000 C, and Eco Spray. Bruttus 18000 is a superior gravity-powered spreader crafted for agility and efficiency, having a capacity reaching up to 18,000 kg, thus making it a perfect match for various crop types, particularly sugarcane. The Hércules 10000 and 24000 Inox are precision spreaders that help ensure an even distribution of fertilizers and seeds, thereby maximizing resource utilization. The Hércules 24000 C is designed considering the needs of large-scale operations, providing superior spreading precision. The Eco Spray, integrating AI technology, allows spot spraying, applying herbicides only where weeds are detected, hence reducing chemical usage. Collectively, these products underline Stara's commitment to promoting precision agriculture and intelligent farming solutions.
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What Are the Top Revenue-Generating Geographies in the Agriculture 4.0 Market?
North America was the largest region in the agriculture 4.0 market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agriculture 4.0 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Agriculture 4.0 Market?
2. What is the CAGR expected in the Agriculture 4.0 Market?
3. What Are the Key Innovations Transforming the Agriculture 4.0 Industry?
4. Which Region Is Leading the Agriculture 4.0 Market?
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