Smart Farming Market Set for Strong Growth to USD 22.45 Billion by 2031, Led by North America's 39.7% Global Market Share | DataM Intelligence

The Global Smart Farming Market reached USD 11.12 billion in 2022 and is expected to reach USD 22.45 billion by 2031, growing at a strong CAGR of 9.1% during 2024-2031.

Market growth is driven by increasing adoption of precision agriculture technologies, rising need to improve crop yields and resource efficiency, and growing integration of IoT, AI, and data analytics in farming operations. Additionally, supportive government initiatives, labor shortages in agriculture, and expanding use of smart sensors, drones, and automated irrigation systems are further accelerating market expansion.

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United States: Key Industry Developments
✅ November 2025: Deere & Company launched an advanced AI-driven precision planting system integrated with real-time soil analytics, enhancing seed placement accuracy by 25% for corn and soybean farmers in the Midwest to boost yields amid climate variability.​

✅ October 2025: Trimble Inc. introduced a new drone-based multispectral imaging platform for crop health monitoring, enabling early pest detection and reducing chemical use by up to 30% across large-scale US farms.​

✅ September 2025: AGCO Corporation unveiled its Fendt smart irrigation controller with IoT sensors, optimizing water usage through predictive weather data integration for sustainable farming in California and Texas regions.​

Asia Pacific / Japan: Key Industry Developments
✅ December 2025: Yaskawa Electric released robotic harvesters equipped with machine vision for fruit picking, deployed in Japanese orchards to address labor shortages and improve harvest efficiency by 40%.​

✅ October 2025: Kubota Corporation expanded its autonomous tractor lineup with 5G connectivity for rice paddies in Japan, allowing remote monitoring and variable-rate fertilizer application to cut costs and emissions.​

✅ September 2025: The Japanese Ministry of Agriculture increased funding for IoT-based livestock monitoring pilots, supporting real-time health tracking in dairy farms to enhance productivity and animal welfare standards.​

Key Merges and Acquisitions(2025):
✅ Deere & Company - expanded its smart farming portfolio with the acquisition of GUSS Automation, enhancing autonomous harvesting technologies and precision agriculture capabilities in orchards and specialty crops.​

✅ Oishii - acquired Tortuga AgTech, a robotics firm specializing in automation for vertical farming, to address labor challenges and improve operational efficiency in controlled environment agriculture.​

✅ CoStar Group - acquired Ag-Analytics, gaining access to the AcreValue platform for agricultural land data analytics, enabling data-driven insights for smart farm investment and land management decisions.​

Market Segmentation Analysis:
-By Agriculture Type: Precision Farming Leads with 45.8% Share
Precision farming holds 45.8% market share in 2025, leveraging GPS, sensors, and data analytics to optimize crop yields, reduce inputs, and boost efficiency amid climate challenges.​
Livestock monitoring follows at around 23%, enabling real-time animal health tracking, feeding automation, and productivity gains for large-scale operations.​
Fish farming and smart greenhouse each claim 13%, with fish farming focusing on water quality and tracking in aquaculture, while smart greenhouses automate climate control for year-round yields; others fill the rest with niche applications.​

-By Offering: Hardware Dominates, Software Grows Rapidly
Hardware leads with 43% share via sensors, monitors, and controllers essential for on-farm data collection and automation.​
Software, split into web-based (largest at 28%) and cloud-based, drives analytics and remote management, growing at 15%+ CAGR due to AI integration.​
Services (37%) include system integration, consulting, maintenance, connectivity, and managed/professional services, supporting deployment and scalability.​

-By Solution, Farm Size, Distribution Channel, Application, End-User
Solutions like agriculture asset management and smart water management lead (30% combined), optimizing assets and irrigation amid water scarcity.​
Large farms dominate farm size at 55% for scalable tech adoption, while small/medium farms grow via affordable IoT. Company stores and e-commerce lead distribution (40% each) for direct access. Yield monitoring tops applications at 45%, aiding precise harvesting; others like irrigation and weather tracking follow. Livestock end-users hold 35%, surpassing agriculture (25%) and aquaculture (18%) due to monitoring demands.​

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Growth Drivers:
-Adoption of IoT, AI, and robotics enables precision farming, optimizing resource use and boosting crop yields through tools like automated irrigation and drone monitoring.

-Rising global food demand due to population growth to nearly 10 billion by 2050 drives the need for efficient, sustainable agriculture practices.

-Labor shortages and government subsidies accelerate the deployment of smart -machinery and automation in farming operations.

-Integration of digital technologies such as precision agriculture, blockchain, and data analytics enhances supply chain transparency and farm productivity.

-Increasing focus on sustainability reduces environmental impact, with smart greenhouses and livestock monitoring systems leading market expansion.

Regional Insights:
-North America leads the smart farming market with the highest share at approximately 39.7% to 44.3% in recent years, driven by early adoption of precision agriculture technologies, strong government support, and a concentration of leading agritech companies in the U.S.. This dominance reflects advanced infrastructure and high investments in IoT, drones, and AI for optimizing crop yields and sustainability. The region's large-scale farms further accelerate integration of smart solutions.​

-Asia Pacific follows as the second-largest region, rapidly expanding due to population growth, rising food demand, and government initiatives like India's Digital Agriculture Mission, with China leading through investments in smart irrigation and monitoring.. While exact shares vary across reports, it trails North America but shows the fastest growth potential from agritech startups and affordable connectivity. This positions it for significant gains in smallholder and commercial farming.​

-Europe ranks third among key regions, with a market valued at around USD 6.3 billion in 2024 and projected growth to USD 7.1 billion in 2025, fueled by focus on sustainable practices, regulatory support for precision farming, and innovations in countries like the Netherlands and Germany.. Its share remains lower than North America and Asia Pacific amid emphasis on yield monitoring and resource efficiency..​

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Key Players:
XAG | Ag Leader Technology, Inc. | AgJunction Inc. | Deere & Company | Afimilk Agricultural Cooperative Ltd. | DeLaval | AKVA Group | Aquabyte Inc. | BouMatic LLC | InnovaSea Systems, Inc.

Key Highlights (Top 5 Key Players) for Smart Farming Market:
-Deere & Company reported USD 61.5 billion in overall revenues for fiscal 2024, with its precision agriculture segment, including smart farming solutions like AutoTrac guidance, contributing over USD 5 billion.
​
-XAG achieved approximately USD 450 million in annual revenue from drone-based smart farming technologies, driven by AI crop monitoring and spraying systems in Asia-Pacific markets.

-Agmatics (AgJunction Inc.) generated USD 85 million in revenue from guidance and autonomous farming software, supporting over 1 million acres of connected farmland globally.

-Ag Leader Technology, Inc. posted USD 35 million in estimated annual revenue, focused on displays, mapping, and variable rate applications for smart tractors and implements.​

-Afimilk Agricultural Cooperative Ltd. recorded USD 280 million in revenues from dairy smart farming systems, including herd management and automated milking tech deployed in 6,000+ farms worldwide.

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