NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The smart agriculture market size is to grow by USD 8,917.85 million from 2022 to 2027. Also, the growth momentum will progress at a CAGR of 9.23% during the forecast period, according to Technavio. The smart agriculture market is fragmented, and the companies are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Ag Leader Technology, AGCO Corp., AquaSpy Inc., Bayer AG, Berkshire Hathaway Inc., CNH Industrial NV, Deere and Co., Heliospectra AB, Iteris Inc., Kubota Corp., SemiosBio Technologies Inc., Tetra Laval SA, The Toro Co., Topcon Corp., Trimble Inc., Valmont Industries Inc., Yara International ASA, A.A.A Taranis Visual Ltd., Lindsay Corp., and Grownetics, Inc. are some of the major market participants -. To know about the vendor offerings - Request a sample report

Smart Agriculture Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The smart agriculture market report covers the following areas:

• Smart Agriculture Market Size
• Smart Agriculture Market Trends
• Smart Agriculture Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The smart agriculture market is fragmented, and the degree of fragmentation will accelerate. The availability of low-cost cloud services encouraging the adoption of smart farming will offer immense growth opportunities. However, the High initial investment in smart farming technology will hamper the market growth.

Smart Agriculture Market 2023-2027: Market Dynamics

Key Drivers

The availability of low-cost cloud services encouraging the adoption of smart farming is a key factor driving market growth. Agricultural applications are increasingly evolving towards cloud systems, and farmers are looking for benefits such as improved data access, information availability, synchronization of various farming activities, and storage of valuable information. In addition, the information database containing information about crops, weather, soil, and farmer data, as well as expert advice to increase overall crop yields is a key benefit of implementing cloud technology in agriculture. The rising competition among providers has resulted in a decrease in cloud service prices. Hence, low-cost cloud services are expected to drive market growth during the forecast period.

Major Trends

The adoption of big data in smart farming is a major trend in the market. Higher production levels can be achieved by improving wireless communication in the agricultural sector. Thus, this will lead to Equipment repair and maintenance. Furthermore, improved operational reliability in the field can also lead to higher crop production levels. Data collection and storage have become easier with the help of big data analytics. It also facilitates decision-making and other farmer practices. Therefore, increasing adoption of big data is expected to drive market growth during the forecast period.

Significant Challenges

The high initial investment in smart farming technology is a significant challenge restricting market growth. The major concern globally is investing in these tools. This software integration is expensive and requires a large initial investment. In addition, other data analysis tools and training costs are also high, increasing the overall cost for farmers. For example, farmers with small land areas have low levels of field yield and find it difficult to balance the level of investment. Hence, the high initial investment is expected to restrict market growth during the forecast period.

To learn more about the global trends impacting the future of market research, download a PDF sample

Smart Agriculture Market 2023-2027: Segment Analysis

• Type 
• Precision Farming
• Smart Greenhouse
• Livestock Monitoring
• Others
• Product 
• Hardware
• Software
• Services
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East and Africa

Smart Agriculture Market 2023-2027: Segmentation Highlights

• The precision farming segment will account for a major share of the market's growth during the forecast period. This is due to the increased efficiency and productivity provided to farmers. Precision agriculture uses advanced technologies such as remote sensing, GPS, and IoT devices to optimize farming practices and improve productivity. The goal of precision agriculture is to use resources efficiently, minimize environmental impact, and improve crop yield and quality. Hence, these factors are expected to drive segment growth during the forecast period.
• North America is estimated to contribute 42% to the growth by 2027. The smart farming market is growing in the region due to the rapid adoption of smart farming tools and technologies. The region will see high adoption rates for products such as sensors, cloud computing, secure data storage, and installation-related services. Manufacturers of smart farming hardware and software products are expanding their market in different countries. Hence, these factors are expected to drive market growth in the region during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Smart Agriculture Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist smart agriculture market growth during the next five years.
• Estimation of the smart agriculture market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the smart agriculture market across North America, Europe, APAC, South America, and the Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of smart agriculture market companies

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smart agriculture market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global smart agriculture market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Precision farming - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Precision farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Precision farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Precision farming - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Precision farming - Year-over-year growth 2022-2027 (%)

• 6.4 Smart greenhouse - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Smart greenhouse - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Smart greenhouse - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Smart greenhouse - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Smart greenhouse - Year-over-year growth 2022-2027 (%)

• 6.5 Livestock monitoring - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Livestock monitoring - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Livestock monitoring - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Livestock monitoring - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Livestock monitoring - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Type 
• Exhibit 50: Market opportunity by Type ($ million)
• Exhibit 51: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 52: Chart on Product - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 54: Chart on Comparison by Product
• Exhibit 55: Data Table on Comparison by Product

• 7.3 Hardware - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Hardware - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Hardware - Year-over-year growth 2022-2027 (%)

• 7.4 Software - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.5 Services - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 68: Market opportunity by Product ($ million)
• Exhibit 69: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027 
• Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027 
• Exhibit 111: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Companies covered
• Exhibit 121: Companies covered

• 12.2 Market positioning of Companies 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 A.A.A Taranis Visual Ltd. 
• Exhibit 123: A.A.A Taranis Visual Ltd. - Overview
• Exhibit 124: A.A.A Taranis Visual Ltd. - Product / Service
• Exhibit 125: A.A.A Taranis Visual Ltd. - Key offerings

• 12.4 Ag Leader Technology
• Exhibit 126: Ag Leader Technology - Overview
• Exhibit 127: Ag Leader Technology - Product / Service
• Exhibit 128: Ag Leader Technology - Key offerings

• 12.5 AGCO Corp.
• Exhibit 129: AGCO Corp. - Overview
• Exhibit 130: AGCO Corp. - Business segments
• Exhibit 131: AGCO Corp. - Key news
• Exhibit 132: AGCO Corp. - Key offerings
• Exhibit 133: AGCO Corp. - Segment focus

• 12.6 AquaSpy Inc.
• Exhibit 134: AquaSpy Inc. - Overview
• Exhibit 135: AquaSpy Inc. - Product / Service
• Exhibit 136: AquaSpy Inc. - Key offerings

• 12.7 Bayer AG
• Exhibit 137: Bayer AG - Overview
• Exhibit 138: Bayer AG - Business segments
• Exhibit 139: Bayer AG - Key news
• Exhibit 140: Bayer AG - Key offerings
• Exhibit 141: Bayer AG - Segment focus

• 12.8 Berkshire Hathaway Inc. 
• Exhibit 142: Berkshire Hathaway Inc. - Overview
• Exhibit 143: Berkshire Hathaway Inc. - Business segments
• Exhibit 144: Berkshire Hathaway Inc. - Key news
• Exhibit 145: Berkshire Hathaway Inc. - Key offerings
• Exhibit 146: Berkshire Hathaway Inc. - Segment focus

• 12.9 CNH Industrial NV
• Exhibit 147: CNH Industrial NV - Overview
• Exhibit 148: CNH Industrial NV - Business segments
• Exhibit 149: CNH Industrial NV - Key news
• Exhibit 150: CNH Industrial NV - Key offerings
• Exhibit 151: CNH Industrial NV - Segment focus

• 12.10 Deere and Co.
• Exhibit 152: Deere and Co. - Overview
• Exhibit 153: Deere and Co. - Business segments
• Exhibit 154: Deere and Co. - Key news
• Exhibit 155: Deere and Co. - Key offerings
• Exhibit 156: Deere and Co. - Segment focus

• 12.11 Grownetics, Inc.
• Exhibit 157: Grownetics, Inc. - Overview
• Exhibit 158: Grownetics, Inc. - Product / Service
• Exhibit 159: Grownetics, Inc. - Key offerings

• 12.12 Heliospectra AB
• Exhibit 160: Heliospectra AB - Overview
• Exhibit 161: Heliospectra AB - Product / Service
• Exhibit 162: Heliospectra AB - Key offerings

• 12.13 Lindsay Corp.
• Exhibit 163: Lindsay Corp. - Overview
• Exhibit 164: Lindsay Corp. - Business segments
• Exhibit 165: Lindsay Corp. - Key offerings
• Exhibit 166: Lindsay Corp. - Segment focus

• 12.14 Tetra Laval SA
• Exhibit 167: Tetra Laval SA - Overview
• Exhibit 168: Tetra Laval SA - Product / Service
• Exhibit 169: Tetra Laval SA - Key offerings

• 12.15 Topcon Corp.
• Exhibit 170: Topcon Corp. - Overview
• Exhibit 171: Topcon Corp. - Business segments
• Exhibit 172: Topcon Corp. - Key news
• Exhibit 173: Topcon Corp. - Key offerings
• Exhibit 174: Topcon Corp. - Segment focus

• 12.16 Trimble Inc.
• Exhibit 175: Trimble Inc. - Overview
• Exhibit 176: Trimble Inc. - Business segments
• Exhibit 177: Trimble Inc. - Key offerings
• Exhibit 178: Trimble Inc. - Segment focus

• 12.17 Yara International ASA 
• Exhibit 179: Yara International ASA - Overview
• Exhibit 180: Yara International ASA - Business segments
• Exhibit 181: Yara International ASA - Key news
• Exhibit 182: Yara International ASA - Key offerings
• Exhibit 183: Yara International ASA - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 184: Inclusions checklist
• Exhibit 185: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 186: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 187: Research methodology
• Exhibit 188: Validation techniques employed for market sizing
• Exhibit 189: Information sources

• 13.5 List of abbreviations
• Exhibit 190: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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