Press release
Analysis of Key Market Segments Driving the Agriculture 4.0 Market
Agriculture 4.0 Market
Projected Expansion of the Agriculture 4.0 Market by 2030
The Agriculture 4.0 market is anticipated to grow significantly, reaching $177.93 billion by 2030. This expansion represents a strong compound annual growth rate (CAGR) of 13.9%. Several factors contribute to this upward trajectory, including the widespread adoption of AI-powered decision support systems, increased investments in smart farming infrastructure, a rise in drone-based monitoring practices, ongoing digitalization of farms, and the use of blockchain technology to enhance traceability in agriculture. Key trends expected to influence this growth involve the integration of automated crop monitoring platforms, the growing use of smart irrigation and resource-efficient tools, the development of multi-crop precision management techniques, expansion of smart greenhouses and controlled environments, and broader deployment of digital advisory and decision-making systems.
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Top Companies Leading the Agriculture 4.0 Industry
A range of prominent companies is actively shaping the Agriculture 4.0 market. These include BASF SE, International Business Machines Corporation (IBM), 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., dic*kEY-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, and Jacto SA.
Strategic Acquisition to Boost Precision Agriculture
In a strategic move to advance precision spraying technology, John Deere, a US-based agricultural equipment manufacturer, acquired Smart Apply Inc. in July 2023 for an undisclosed sum. This acquisition aims to enhance efficiency by reducing chemical usage while improving crop yields, particularly benefiting high-value growers. Smart Apply Inc. specializes in precision spraying equipment, which supports sustainable and efficient farming practices.
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Innovative Technologies Enhancing Agriculture 4.0 Growth
Companies in the Agriculture 4.0 sector are focusing on developing cutting-edge technologies to boost operational efficiency. One notable advancement is smart spray technology, which uses AI to apply herbicides selectively only where weeds exist, reducing environmental impact and chemical waste. For example, in April 2024, Brazil-based agricultural machinery company Stara introduced several new products, including the Bruttus 18000, Hércules 10000 and 24000 Inox, Hércules 24000 C, and Eco Spray. The Bruttus 18000 is a gravity-fed spreader with an 18,000 kg capacity, ideal for crops like sugarcane. The Hércules models offer high precision in fertilizer and seed spreading, optimizing resource usage. The Eco Spray utilizes AI for spot spraying herbicides, applying them only in targeted areas, highlighting Stara's commitment to precision agriculture and smart farming solutions.
How the Agriculture 4.0 Market Is Organized
The Agriculture 4.0 market is segmented into several categories for a comprehensive understanding:
1) By Component: Hardware, Software, and Services
2) By Crop Type: Cereals and Grains, Oilseeds and Pulses, and Other Crop Types
3) By Farm Size: Small Farms, Medium-Sized Farms, and Large Farms
4) By Technology: Internet of Things (IoT) and Connected Devices, Artificial Intelligence (AI) and Machine Learning, Robotics and Automation, Big Data Analytics, Blockchain, Drones and Unmanned Aerial Vehicles (UAVs), and Cloud Computing
5) By Application: Farming, Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouses, and Other Applications
Within these segments, subcategories include hardware such as sensors, drones, GPS systems, automated tractors, and irrigation systems; software like farm management, precision farming, crop monitoring, and analytics tools; and services comprising consulting, data analytics, IoT connectivity, and remote sensing. This detailed segmentation reflects the diverse technologies and applications fueling the growth of Agriculture 4.0.
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