Smart Farming Market - A Global and Regional Analysis: Focus on Application, Hardware, Software, and Region - Analysis and Forecast, 2024-2034
Smart Farming Market Overview The global smart farming market is projected to reach $117.20 billion by 2034 from $17.40 billion in 2023, growing at a CAGR of 19.09% during the forecast period 20... もっと見る
SummarySmart Farming Market OverviewThe global smart farming market is projected to reach $117.20 billion by 2034 from $17.40 billion in 2023, growing at a CAGR of 19.09% during the forecast period 2024-2034. The smart farming market is set for substantial growth, driven by the increasing adoption of advanced technologies and a focus on sustainable agricultural practices. Key factors fueling this expansion include rising global food demand, the need to optimize resource efficiency, and the integration of IoT, AI, and robotics in farming operations. Enhanced precision farming techniques and data-driven decision-making have been transforming traditional agricultural processes. Additionally, growing government initiatives and investments in smart farming solutions underscore the importance of improving productivity while minimizing environmental impact. This dynamic landscape reflects a strong emphasis on innovation and sustainability within the agricultural sector. Introduction to the Smart Farming Market The smart farming market represents a transformative shift in agriculture, integrating cutting-edge technologies such as IoT, artificial intelligence, big data analytics, and robotics to optimize farming operations. This market addresses the pressing global need for sustainable food production by enabling precision agriculture, improving resource efficiency, and enhancing productivity. Smart farming solutions offer real-time monitoring, predictive analytics, and automation, facilitating better decision-making and minimizing waste. The growing demand for sustainable practices, coupled with advancements in technology and supportive government initiatives, has been driving rapid adoption across the agricultural sector. As farmers strive to balance increasing food demands with environmental conservation, the smart farming market is positioned as a pivotal solution. This innovative approach has been reshaping traditional farming practices, fostering efficiency, and ensuring long-term sustainability, thereby creating significant opportunities for stakeholders in the agricultural value chain. Market Introduction The smart farming market has been revolutionizing agriculture by leveraging advanced technologies such as IoT, AI, robotics, and big data to optimize efficiency and productivity. This market addresses the dual challenge of meeting rising food demands while ensuring sustainable resource use. Precision farming, enabled by real-time monitoring and predictive analytics, has transformed traditional practices, reduced waste, and enhanced yields. Growing awareness of sustainable agriculture and supportive government policies have been accelerating adoption. As the agricultural sector increasingly integrates innovative solutions, the smart farming market has been emerging as a cornerstone for achieving efficiency, sustainability, and resilience in global food production. Industrial Impact The smart farming market has been significantly impacting the agriculture industry by driving innovation and operational efficiency. Advanced technologies such as IoT, AI, and robotics have been transforming traditional farming methods, enabling precision in resource use and maximizing yields. This shift enhances cost-effectiveness, minimizes environmental impact, and addresses the growing demand for sustainable food production. The adoption of data-driven practices and automation has been reshaping the supply chain, promoting resilience against climate challenges. With rising investments and supportive policies, smart farming has been setting a new benchmark for productivity and sustainability, positioning the industry for long-term growth and global competitiveness. Market Segmentation: Segmentation 1: by Application • Precision Farming or Precision Agriculture o Precision Irrigation o Yield Monitoring and Crop Scouting or Forecasting o Precision Planting o Precision Spraying o Precision Fertilization o Farm Management o Other • Livestock Monitoring and Management o Milk Harvesting o Animal Health Monitoring and Comfort o Feeding Management o Livestock Tracking o Other • Aquaculture o Feed Management o Aquatic Species Tracking and Navigation o Water Quality Management o Other • Others Precision Farming or Precision Agriculture to Lead the Market (by Application) Precision farming or precision agriculture, is set to dominate the smart farming market due to its pivotal role in enhancing crop productivity and optimizing resource utilization. It minimizes environmental impact while maximizing yields by enabling precise management of inputs such as water, fertilizers, and pesticides. Growing regulatory frameworks and guidelines from governments and agricultural organizations worldwide have been fostering the adoption of precision farming technologies to meet sustainability and efficiency objectives. Additionally, increasing awareness of food security and sustainable agricultural practices drives the demand for these solutions. As resource management challenges intensify and supportive policies expand, precision farming is expected to remain a cornerstone of agricultural innovation, driving sustainable food production and modernizing farming practices globally. Segmentation 2: by Product Type • Hardware o Displays/Yield Monitors o Flow and Application Rate Control Valves o Farm Computers, and Mobile Devices and Laptops o Agricultural Sensors o Guidance and Steering Systems o Other • Software o Farm Operation Management o Hardware Control Application o Data and Predictive Analytics Hardware to Lead the Market (by Product Type) Hardware is anticipated to lead the smart farming market by product type, driven by its critical role in enhancing precision and efficiency in agricultural operations. Key hardware components, including sensors, drones, GPS systems, and automated machinery, are essential for real-time monitoring and optimization of farm activities. These devices enable data-driven decision-making, improving productivity and sustainability in farming practices. The integration of advanced technologies such as IoT and AI into agriculture further accelerates the adoption of smart farming hardware. With a growing emphasis on resource efficiency and ongoing technological advancements, the demand for hardware is projected to remain robust, solidifying its position as a cornerstone of modern agricultural transformation. Segmentation 3: by Region • North America • Europe • Asia-Pacific • Middle East and Africa • South America North America Region to Lead the Market North America is set to lead the smart farming market, driven by the region's advanced technological infrastructure and strong focus on sustainable agricultural practices. The widespread adoption of precision farming techniques, supported by cutting-edge technologies such as IoT, AI, and robotics, has positioned North America at the forefront of the industry. Additionally, robust government initiatives and funding for smart agriculture solutions, coupled with the presence of major market players, have been fueling growth. Rising awareness of resource-efficient farming and the increasing need to address food security challenges further boost adoption. As innovation continues and sustainable practices gain momentum, North America is expected to maintain its leadership in shaping the future of the smart farming market. Recent developments in the smart farming market: • In July 2024, ioCrops introduced the HERMAI Spray Robot and HERMAI Transport Robot. The Spray Robot automates pest control tasks, including monitoring, targeted control, and digital record management, reducing costs. The transport robot supports automation by monitoring harvest quantities and transporting crops, decreasing harvest time by about 10%. • In January 2024, Ag Leader Technology, Deere & Company, and Kinze Manufacturing collaborated to facilitate technology integration, enabling farmers to integrate Kinze Manufacturing and Ag Leader Technology planting and display products with Deere & Company's Operations Centre. By focusing on in-cab technology enhancements, the company continues to emphasize a farmer-centric approach, adding value to operators and enhancing farm management efficiency. • In March 2023, Passenger Drone Research Private Limited launched AeroGCS Green software for drones, which helps farmers map fields, identify areas that do not require spraying, and determine the precise quantity of pesticides needed. This software facilitates cost-effective spraying in minutes compared to traditional methods. Key features include remote monitoring, automated control, sensor integration, equipment integration, data visualization, and an alert and notification system. Demand - Drivers, Limitations, and Opportunities Market Drivers The smart farming market has been driven by the increasing need for sustainable agricultural practices and the growing adoption of precision agriculture. Rising global food demand highlights the urgency of resource-efficient farming to conserve water, reduce fertilizer dependency, and lower methane emissions. Technologies such as precision irrigation and advanced fertilization address these challenges while minimizing environmental impacts. Additionally, the adoption of precision agriculture, powered by drones, sensors, and data analytics, optimizes resource use, enhances productivity, and reduces costs. As climate change, population growth, and food security concerns intensify, these innovations reshape farming practices, drive sustainability, and position the market for significant growth. Market Restraints The smart farming market faces significant challenges, including a lack of technical expertise among farmers and growing concerns over data security. Many farmers, especially smallholders, struggle to adopt advanced technologies due to limited knowledge and skills, hindering the effective use of precision tools and data analytics. Additionally, the increasing integration of connected technologies has exposed the sector to cybersecurity threats, raising concerns about data privacy and operational risks. The absence of robust regulatory frameworks further exacerbates these issues. Addressing these challenges requires targeted education, technical support, enhanced cybersecurity measures, and clear data governance policies to foster trust and adoption. Market Opportunities The smart farming market offers significant opportunities, driven by increasing investments in agri-tech startups and the integration of blockchain technology. Rising funding enables startups to develop advanced solutions such as IoT sensors, AI-driven analytics, and autonomous machinery, accelerating innovation and expanding market reach. Partnerships between startups, established companies, and research institutions further enhance technology adoption. Additionally, blockchain technology has been transforming agriculture by improving transparency and traceability across the value chain. Blockchain addresses food quality and safety concerns by enabling secure transactions and reporting real-time issues, ensuring data integrity. These advancements position the market for sustainable growth and enhanced operational efficiency. How can this report add value to an organization? Product/Innovation Strategy: This report provides a comprehensive product/innovation strategy for the smart farming market, identifying opportunities for market entry, technology adoption, and sustainable growth. It offers actionable insights, helping organizations to meet environmental standards, gain a competitive edge, and capitalize on the increasing demand for eco-friendly solutions in various industries. Growth/Marketing Strategy: This report offers a comprehensive growth and marketing strategy designed specifically for the smart farming market. It presents a targeted approach to identifying specialized market segments, establishing a competitive advantage, and implementing creative marketing initiatives aimed at optimizing market share and financial performance. By harnessing these strategic recommendations, organizations can elevate their market presence, seize emerging prospects, and efficiently propel revenue expansion. Competitive Strategy: This report crafts a strong competitive strategy tailored to the smart farming market. It evaluates market rivals, suggests methods to stand out, and offers guidance for maintaining a competitive edge. By adhering to these strategic directives, companies can position themselves effectively in the face of market competition, ensuring sustained prosperity and profitability. Research Methodology Factors for Data Prediction and Modeling • The scope of this report focuses on several types of smart farming applications and products. • The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year. • The currency conversion rate has been taken from the historical exchange rate of the Oanda website. • Nearly all the recent developments from January 2021 to November 2024 have been considered in this research study. • The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis. • Where relevant information was not available, proxy indicators and extrapolation were employed. • Any economic downturn in the future has not been taken into consideration for the market estimation and forecast. • Technologies currently used are expected to persist through the forecast with no major technological breakthroughs. Market Estimation and Forecast This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the smart farming market. The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes is explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market. Primary Research The primary sources involve industry experts from the smart farming market and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study. The key data points taken from primary sources include: • validation and triangulation of all the numbers and graphs • validation of reports segmentation and key qualitative findings • understanding the competitive landscape • validation of the numbers of various markets for market type • percentage split of individual markets for geographical analysis Secondary Research This research study of the smart farming market involves extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as ITU, Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. Secondary research was done to obtain crucial information about the industry’s value chain, revenue models, the market’s monetary chain, the total pool of key players, and the current and potential use cases and applications. The key data points taken from secondary research include: • segmentations and percentage shares • data for market value • key industry trends of the top players of the market • qualitative insights into various aspects of the market, key trends, and emerging areas of innovation • quantitative data for mathematical and statistical calculations Key Market Players and Competition Synopsis The companies that are profiled in the smart farming market have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the prominent names in this market are: • Ag Leader Technology • AGCO Corporation • CNH Industrial N.V. • Deere & Company • Hexagon AB • KUBOTA Corporation • Climate LLC • BASF • CropX inc. • Connecterra B.V. • Naïo Technologies • DJI • Signify Holding • ams-OSRAM AG • Afimilk Ltd. • Allflex • Nedap N.V. • Cargill, Incorporated • GEA Group Aktiengesellschaft • AKVA group ASA • Eruvaka Technologies Pvt. Ltd • AquaManager Companies not part of the pool have been well represented across different sections of the report (wherever applicable). Table of ContentsExecutive SummaryScope and Definition 1 Market: Industry Outlook 1.1 Trends: Current and Future Impact Assessment 1.1.1 5G: The Future of Smart Farming 1.1.2 LoRa Wide Area Network (LoRaWAN) 1.2 Supply Chain Overview 1.2.1 Value Chain Analysis 1.2.2 Pricing Analysis 1.3 Regulatory Landscape 1.4 Research and Development Review 1.4.1 Patent Filing Trend (by Country and Company) 1.5 Start-Up Landscape 1.5.1 Key Start-Ups in Ecosystem, 2023 1.5.1.1 Farm Management Software, Sensing Technologies, and IoT Solutions 1.5.1.2 Farm Robotics, Automation, and Additional Equipment 1.5.1.3 Innovative Farming Systems 1.5.2 Funding Analysis, 2023 1.6 Stakeholder Analysis 1.6.1 Use Case 1.6.2 End User and Buying Criteria 1.7 Impact Analysis for Key Global Events 1.8 Market Dynamics Overview 1.8.1 Market Drivers 1.8.1.1 Increasing Need for Sustainable Agricultural Practices 1.8.1.2 Growing Adoption of Precision Agriculture 1.8.2 Market Challenges 1.8.2.1 Lack of Technical Expertise among Farmers 1.8.2.2 Rising Concern over Data Security with Increasing Cyber Attacks 1.8.3 Market Opportunities 1.8.3.1 Increasing Investment in Agriculture Technology Start-Ups 1.8.3.2 Securing the Agriculture Value Chain with Blockchain 2 Application 2.1 Application Segmentation 2.2 Application Summary 2.3 Smart Farming Market (by Application) 2.3.1 Precision Farming or Precision Agriculture 2.3.1.1 Precision Irrigation 2.3.1.2 Yield Monitoring and Crop Scouting or Forecasting 2.3.1.3 Precision Planting 2.3.1.4 Precision Spraying 2.3.1.5 Precision Fertilization 2.3.1.6 Farm Management 2.3.1.7 Other 2.3.2 Livestock Monitoring and Management 2.3.2.1 Milk Harvesting 2.3.2.2 Animal Health Monitoring and Comfort 2.3.2.3 Feeding Management 2.3.2.4 Livestock Tracking 2.3.2.5 Other 2.3.3 Aquaculture 2.3.3.1 Feed Management 2.3.3.2 Aquatic Species Tracking and Navigation 2.3.3.3 Water Quality Management 2.3.3.4 Other 2.3.4 Others 3 Products 3.1 Product Segmentation 3.2 Product Summary 3.3 Smart Farming Market (by Product) 3.3.1 Hardware 3.3.1.1 Displays/Yield Monitors 3.3.1.2 Flow and Application Rate Control Valves 3.3.1.3 Farm Computers and Mobile Devices & Laptops 3.3.1.4 Agricultural Sensors 3.3.1.5 Guidance and Steering Systems 3.3.1.6 Other 3.3.2 Software 3.3.2.1 Farm Operation Management 3.3.2.2 Hardware Control Application 3.3.2.3 Data and Predictive Analytics 4 Regions 4.1 Regional Summary 4.2 North America 4.2.1 Regional Overview 4.2.2 Driving Factors for Market Growth 4.2.3 Factors Challenging the Market 4.2.3.1 Application 4.2.3.2 Product 4.2.4 U.S. 4.2.4.1 Application 4.2.4.2 Product 4.2.5 Canada 4.2.5.1 Application 4.2.5.2 Product 4.2.6 Mexico 4.2.6.1 Application 4.2.6.2 Product 4.3 Europe 4.3.1 Regional Overview 4.3.2 Driving Factors for Market Growth 4.3.3 Factors Challenging the Market 4.3.3.1 Application 4.3.3.2 Product 4.3.4 Germany 4.3.4.1 Application 4.3.4.2 Product 4.3.5 France 4.3.5.1 Application 4.3.5.2 Product 4.3.6 U.K. 4.3.6.1 Application 4.3.6.2 Product 4.3.7 Italy 4.3.7.1 Application 4.3.7.2 Product 4.3.8 Netherlands 4.3.8.1 Application 4.3.8.2 Product 4.3.9 Spain 4.3.9.1 Application 4.3.9.2 Product 4.3.10 Greece 4.3.10.1 Application 4.3.10.2 Product 4.3.11 Switzerland 4.3.11.1 Application 4.3.11.2 Product 4.3.12 Ukraine 4.3.12.1 Application 4.3.12.2 Product 4.3.13 Belgium 4.3.13.1 Application 4.3.13.2 Product 4.3.14 Rest-of-Europe 4.3.14.1 Application 4.3.14.2 Product 4.4 Asia-Pacific 4.4.1 Regional Overview 4.4.2 Driving Factors for Market Growth 4.4.3 Factors Challenging the Market 4.4.3.1 Application 4.4.3.2 Product 4.4.4 China 4.4.4.1 Application 4.4.4.2 Product 4.4.5 Japan 4.4.5.1 Application 4.4.5.2 Product 4.4.6 India 4.4.6.1 Application 4.4.6.2 Product 4.4.7 South Korea 4.4.7.1 Application 4.4.7.2 Product 4.4.8 Australia and New Zealand 4.4.8.1 Application 4.4.8.2 Product 4.4.9 Thailand 4.4.9.1 Application 4.4.9.2 Product 4.4.10 Rest-of-Asia-Pacific 4.4.10.1 Application 4.4.10.2 Product 4.5 Middle East and Africa 4.5.1 Regional Overview 4.5.2 Driving Factors for Market Growth 4.5.3 Factors Challenging the Market 4.5.3.1 Application 4.5.3.2 Product 4.5.4 Israel 4.5.4.1 Application 4.5.4.2 Product 4.5.5 Turkey 4.5.5.1 Application 4.5.5.2 Product 4.5.6 Rest-of-Middle East and Africa 4.5.6.1 Application 4.5.6.2 Product 4.6 South America 4.6.1 Driving Factors for Market Growth 4.6.2 Factors Challenging the Market 4.6.2.1 Application 4.6.2.2 Product 4.6.3 Brazil 4.6.3.1 Application 4.6.3.2 Product 4.6.4 Rest-of-South America 4.6.4.1 Application 4.6.4.2 Product 5 Markets - Competitive Benchmarking & Company Profiles 5.1 Next Frontiers 5.2 Geographic Assessment 5.3 Company Profiles 5.3.1 Ag Leader Technology 5.3.1.1 Overview 5.3.1.2 Top Products/Product Portfolio 5.3.1.3 Top Competitors 5.3.1.4 Target Customers 5.3.1.5 Key Personnel 5.3.1.6 Analyst View 5.3.2 AGCO Corporation 5.3.2.1 Overview 5.3.2.2 Top Products/Product Portfolio 5.3.2.3 Top Competitors 5.3.2.4 Target Customers 5.3.2.5 Key Personnel 5.3.2.6 Analyst View 5.3.3 CNH Industrial N.V. 5.3.3.1 Overview 5.3.3.2 Top Products/Product Portfolio 5.3.3.3 Top Competitors 5.3.3.4 Target Customers 5.3.3.5 Key Personnel 5.3.3.6 Analyst View 5.3.4 Deere & Company 5.3.4.1 Overview 5.3.4.2 Top Products/Product Portfolio 5.3.4.3 Top Competitors 5.3.4.4 Target Customers 5.3.4.5 Key Personnel 5.3.4.6 Analyst View 5.3.5 Hexagon AB 5.3.5.1 Overview 5.3.5.2 Top Products/Product Portfolio 5.3.5.3 Top Competitors 5.3.5.4 Target Customers 5.3.5.5 Key Personnel 5.3.5.6 Analyst View 5.3.6 KUBOTA Corporation 5.3.6.1 Overview 5.3.6.2 Top Products/Product Portfolio 5.3.6.3 Top Competitors 5.3.6.4 Target Customers 5.3.6.5 Key Personnel 5.3.6.6 Analyst View 5.3.7 Climate LLC 5.3.7.1 Overview 5.3.7.2 Top Products/Product Portfolio 5.3.7.3 Top Competitors 5.3.7.4 Target Customers 5.3.7.5 Key Personnel 5.3.7.6 Analyst View 5.3.8 BASF 5.3.8.1 Overview 5.3.8.2 Top Products/Product Portfolio 5.3.8.3 Top Competitors 5.3.8.4 Target Customers 5.3.8.5 Key Personnel 5.3.8.6 Analyst View 5.3.9 CropX inc. 5.3.9.1 Overview 5.3.9.2 Top Products/Product Portfolio 5.3.9.3 Top Competitors 5.3.9.4 Target Customers 5.3.9.5 Key Personnel 5.3.9.6 Analyst View 5.3.10 Connecterra B.V. 5.3.10.1 Overview 5.3.10.2 Top Products/Product Portfolio 5.3.10.3 Top Competitors 5.3.10.4 Target Customers 5.3.10.5 Key Personnel 5.3.10.6 Analyst View 5.3.11 Signify Holding 5.3.11.1 Overview 5.3.11.2 Top Products/Product Portfolio 5.3.11.3 Top Competitors 5.3.11.4 Target Customers 5.3.11.5 Key Personnel 5.3.11.6 Analyst View 5.3.12 ams-OSRAM AG 5.3.12.1 Overview 5.3.12.2 Top Products/Product Portfolio 5.3.12.3 Top Competitors 5.3.12.4 Target Customers 5.3.12.5 Key Personnel 5.3.12.6 Analyst View 5.3.13 Afimilk Ltd. 5.3.13.1 Overview 5.3.13.2 Top Products/Product Portfolio 5.3.13.3 Top Competitors 5.3.13.4 Target Customers 5.3.13.5 Key Personnel 5.3.13.6 Analyst View 5.3.14 Allflex 5.3.14.1 Overview 5.3.14.2 Top Products/Product Portfolio 5.3.14.3 Top Competitors 5.3.14.4 Target Customers 5.3.14.5 Key Personnel 5.3.14.6 Analyst View 5.3.15 Nedap N.V. 5.3.15.1 Overview 5.3.15.2 Top Products/Product Portfolio 5.3.15.3 Top Competitors 5.3.15.4 Target Customers 5.3.15.5 Key Personnel 5.3.15.6 Analyst View 5.3.16 Cargill, Incorporated 5.3.16.1 Overview 5.3.16.2 Top Products/Product Portfolio 5.3.16.3 Top Competitors 5.3.16.4 Target Customers 5.3.16.5 Key Personnel 5.3.16.6 Analyst View 5.3.17 GEA Group Aktiengesellschaft 5.3.17.1 Overview 5.3.17.2 Top Products/Product Portfolio 5.3.17.3 Top Competitors 5.3.17.4 Target Customers 5.3.17.5 Key Personnel 5.3.17.6 Analyst View 5.3.18 AKVA group ASA 5.3.18.1 Overview 5.3.18.2 Top Products/Product Portfolio 5.3.18.3 Top Competitors 5.3.18.4 Target Customers 5.3.18.5 Key Personnel 5.3.18.6 Analyst View 5.3.19 Eruvaka Technologies Pvt.Ltd 5.3.19.1 Overview 5.3.19.2 Top Products/Product Portfolio 5.3.19.3 Top Competitors 5.3.19.4 Target Customers 5.3.19.5 Key Personnel 5.3.19.6 Analyst View 5.3.20 AquaManager 5.3.20.1 Overview 5.3.20.2 Top Products/Product Portfolio 5.3.20.3 Top Competitors 5.3.20.4 Target Customers 5.3.20.5 Key Personnel 5.3.20.6 Analyst View 6 Research Methodology 6.1 Data Sources 6.1.1 Primary Data Sources 6.1.2 Secondary Data Sources 6.1.3 Data Triangulation 6.2 Market Estimation and Forecast List of Figures Figure 1: Global Smart Farming Market (by Scenario), $Million, 2024, 2028, and 2034 Figure 2: Global Smart Farming Market (by Region), $Million, 2024, 2028, and 2034 Figure 3: Global Smart Farming Market (by Application), $Million, 2024, 2028, and 2034 Figure 4: Global Smart Farming Market (by Product Type), $Million, 2024, 2028, and 2034 Figure 5: Global Smart Farming Market (by Software Type), $Million, 2024, 2028, and 2034 Figure 6: Global Smart Farming Market (by Hardware Type), $Million, 2024, 2028, and 2034 Figure 7: Key Events Figure 8: Applications of 5G in Smart Farming Operations Figure 9: Patent Filed (by Country), January 2021-July 2024 Figure 10: Patent Filed, by Company, January 2021-July 2024 Figure 11: Funding (by Region), $Million, 2023 Figure 12: Key Start-Ups Funding, by Farm Management Software, Sensing Technologies, and IoT Solutions, $Million, 2023 Figure 13: Key Start-Ups Funding, by Farm Robotics, Automation, and Additional Equipment, $Million, 2023 Figure 14: Key Start-Ups Funding, by Innovative Farming Systems, $Million, 2023 Figure 15: Title: Enhancing Crop Yield with Precision Agriculture and IoT Figure 16: Impact Analysis of Global Smart Farming Market Navigating Factors, 2024-2034 Figure 17: Share of Freshwater Withdrawal (by Sector), 2023 Figure 18: U.S. Smart Farming Market, $Million, 2023-2034 Figure 19: Canada Smart Farming Market, $Million, 2023-2034 Figure 20: Mexico Smart Farming Market, $Million, 2023-2034 Figure 21: Germany Smart Farming Market, $Million, 2023-2034 Figure 22: France Smart Farming Market, $Million, 2023-2034 Figure 23: U.K. Smart Farming Market, $Million, 2023-2034 Figure 24: Italy Smart Farming Market, $Million, 2023-2034 Figure 25: Netherlands Smart Farming Market, $Million, 2023-2034 Figure 26: Spain Smart Farming Market, $Million, 2023-2034 Figure 27: Greece Smart Farming Market, $Million, 2023-2034 Figure 28: Switzerland Smart Farming Market, $Million, 2023-2034 Figure 29: Ukraine Smart Farming Market, $Million, 2023-2034 Figure 30: Belgium Smart Farming Market, $Million, 2023-2034 Figure 31: Rest-of-Europe Smart Farming Market, $Million, 2023-2034 Figure 32: China Smart Farming Market, $Million, 2023-2034 Figure 33: Japan Smart Farming Market, $Million, 2023-2034 Figure 34: India Smart Farming Market, $Million, 2023-2034 Figure 35: South Korea Smart Farming Market, $Million, 2023-2034 Figure 36: Australia and New Zealand Smart Farming Market, $Million, 2023-2034 Figure 37: Thailand Smart Farming Market, $Million, 2023-2034 Figure 38: Rest-of-Asia-Pacific Smart Farming Market, $Million, 2023-2034 Figure 39: Israel Smart Farming Market, $Million, 2023-2034 Figure 40: Turkey Smart Farming Market, $Million, 2023-2034 Figure 41: Rest-of-Middle East and Africa Smart Farming Market, $Million, 2023-2034 Figure 42: Brazil Smart Farming Market, $Million, 2023-2034 Figure 43: Rest-of-South America Smart Farming Market, $Million, 2023-2034 Figure 44: Strategic Initiatives, 2021-2024 Figure 45: Market Share Analysis, 2023 Figure 46: Share of Strategic Initiatives, 2021-2024 Figure 47: Data Triangulation Figure 48: Top-Down and Bottom-Up Approach Figure 49: Assumptions and Limitations List of Tables Table 1: Market Snapshot Table 2: Opportunities across Region Table 3: Competitive Landscape Snapshot Table 4: Application Summary Table 5: Product Summary Table 6: Product Summary (by Hardware) Table 7: Product Summary (by Hardware) (Volume) Table 8: Product Summary (by Software) Table 9: Global Smart Farming Market (by Region), $Million, 2023-2034 Table 10: Global Smart Farming Market (by Region), Thousand Units, 2023-2034 Table 11: North America Smart Farming Market (by Application), $Million, 2023-2034 Table 12: North America Smart Farming Market (by Product), $Million, 2023-2034 Table 13: North America Smart Farming Market (by Hardware), $Million, 2023-2034 Table 14: North America Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 15: North America Smart Farming Market (by Software), $Million, 2023-2034 Table 16: U.S. Smart Farming Market (by Application), $Million, 2023-2034 Table 17: U.S. Smart Farming Market (by Product), $Million, 2023-2034 Table 18: U.S. Smart Farming Market (by Hardware), $Million, 2023-2034 Table 19: U.S. Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 20: U.S. Smart Farming Market (by Software), $Million, 2023-2034 Table 21: Canada Smart Farming Market (by Application), $Million, 2023-2034 Table 22: Canada Smart Farming Market (by Product), $Million, 2023-2034 Table 23: Canada Smart Farming Market (by Hardware), $Million, 2023-2034 Table 24: Canada Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 25: Canada Smart Farming Market (by Software), $Million, 2023-2034 Table 26: Mexico Smart Farming Market (by Application), $Million, 2023-2034 Table 27: Mexico Smart Farming Market (by Product), $Million, 2023-2034 Table 28: Mexico Smart Farming Market (by Hardware), $Million, 2023-2034 Table 29: Mexico Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 30: Mexico Smart Farming Market (by Software), $Million, 2023-2034 Table 31: Europe Smart Farming Market (by Application), $Million, 2023-2034 Table 32: Europe Smart Farming Market (by Product), $Million, 2023-2034 Table 33: Europe Smart Farming Market (by Hardware), $Million, 2023-2034 Table 34: Europe Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 35: Europe Smart Farming Market (by Software), $Million, 2023-2034 Table 36: Germany Smart Farming Market (by Application), $Million, 2023-2034 Table 37: Germany Smart Farming Market (by Product), $Million, 2023-2034 Table 38: Germany Smart Farming Market (by Hardware), $Million, 2023-2034 Table 39: Germany Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 40: Germany Smart Farming Market (by Software), $Million, 2023-2034 Table 41: France Smart Farming Market (by Application), $Million, 2023-2034 Table 42: France Smart Farming Market (by Product), $Million, 2023-2034 Table 43: France Smart Farming Market (by Hardware), $Million, 2023-2034 Table 44: France Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 45: France Smart Farming Market (by Software), $Million, 2023-2034 Table 46: U.K. Smart Farming Market (by Application), $Million, 2023-2034 Table 47: U.K. Smart Farming Market (by Product), $Million, 2023-2034 Table 48: U.K. Smart Farming Market (by Hardware), $Million, 2023-2034 Table 49: U.K. Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 50: U.K. Smart Farming Market (by Software), $Million, 2023-2034 Table 51: Italy Smart Farming Market (by Application), $Million, 2023-2034 Table 52: Italy Smart Farming Market (by Product), $Million, 2023-2034 Table 53: Italy Smart Farming Market (by Hardware), $Million, 2023-2034 Table 54: Italy Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 55: Italy Smart Farming Market (by Software), $Million, 2023-2034 Table 56: Netherlands Smart Farming Market (by Application), $Million, 2023-2034 Table 57: Netherlands Smart Farming Market (by Product), $Million, 2023-2034 Table 58: Netherlands Smart Farming Market (by Hardware), $Million, 2023-2034 Table 59: Netherlands Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 60: Netherlands Smart Farming Market (by Software), $Million, 2023-2034 Table 61: Spain Smart Farming Market (by Application), $Million, 2023-2034 Table 62: Spain Smart Farming Market (by Product), $Million, 2023-2034 Table 63: Spain Smart Farming Market (by Hardware), $Million, 2023-2034 Table 64: Spain Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 65: Spain Smart Farming Market (by Software), $Million, 2023-2034 Table 66: Greece Smart Farming Market (by Application), $Million, 2023-2034 Table 67: Greece Smart Farming Market (by Product), $Million, 2023-2034 Table 68: Greece Smart Farming Market (by Hardware), $Million, 2023-2034 Table 69: Greece Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 70: Greece Smart Farming Market (by Software), $Million, 2023-2034 Table 71: Switzerland Smart Farming Market (by Application), $Million, 2023-2034 Table 72: Switzerland Smart Farming Market (by Product), $Million, 2023-2034 Table 73: Switzerland Smart Farming Market (by Hardware), $Million, 2023-2034 Table 74: Switzerland Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 75: Switzerland Smart Farming Market (by Software), $Million, 2023-2034 Table 76: Ukraine Smart Farming Market (by Application), $Million, 2023-2034 Table 77: Ukraine Smart Farming Market (by Product), $Million, 2023-2034 Table 78: Ukraine Smart Farming Market (by Hardware), $Million, 2023-2034 Table 79: Ukraine Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 80: Ukraine Smart Farming Market (by Software), $Million, 2023-2034 Table 81: Belgium Smart Farming Market (by Application), $Million, 2023-2034 Table 82: Belgium Smart Farming Market (by Product), $Million, 2023-2034 Table 83: Belgium Smart Farming Market (by Hardware), $Million, 2023-2034 Table 84: Belgium Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 85: Belgium Smart Farming Market (by Software), $Million, 2023-2034 Table 86: Rest-of-Europe Smart Farming Market (by Application), $Million, 2023-2034 Table 87: Rest-of-Europe Smart Farming Market (by Product), $Million, 2023-2034 Table 88: Rest-of-Europe Smart Farming Market (by Hardware), $Million, 2023-2034 Table 89: Rest-of-Europe Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 90: Rest-of-Europe Smart Farming Market (by Software), $Million, 2023-2034 Table 91: Asia-Pacific Smart Farming Market (by Application), $Million, 2023-2034 Table 92: Asia-Pacific Smart Farming Market (by Product), $Million, 2023-2034 Table 93: Asia-Pacific Smart Farming Market (by Hardware), $Million, 2023-2034 Table 94: Asia-Pacific Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 95: Asia-Pacific Smart Farming Market (by Software), $Million, 2023-2034 Table 96: China Smart Farming Market (by Application), $Million, 2023-2034 Table 97: China Smart Farming Market (by Product), $Million, 2023-2034 Table 98: China Smart Farming Market (by Hardware), $Million, 2023-2034 Table 99: China Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 100: China Smart Farming Market (by Software), $Million, 2023-2034 Table 101: Japan Smart Farming Market (by Application), $Million, 2023-2034 Table 102: Japan Smart Farming Market (by Product), $Million, 2023-2034 Table 103: Japan Smart Farming Market (by Hardware), $Million, 2023-2034 Table 104: Japan Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 105: Japan Smart Farming Market (by Software), $Million, 2023-2034 Table 106: India Smart Farming Market (by Application), $Million, 2023-2034 Table 107: India Smart Farming Market (by Product), $Million, 2023-2034 Table 108: India Smart Farming Market (by Hardware), $Million, 2023-2034 Table 109: India Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 110: India Smart Farming Market (by Software), $Million, 2023-2034 Table 111: South Korea Smart Farming Market (by Application), $Million, 2023-2034 Table 112: South Korea Smart Farming Market (by Product), $Million, 2023-2034 Table 113: South Korea Smart Farming Market (by Hardware), $Million, 2023-2034 Table 114: South Korea Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 115: South Korea Smart Farming Market (by Software), $Million, 2023-2034 Table 116: Australia and New Zealand Smart Farming Market (by Application), $Million, 2023-2034 Table 117: Australia and New Zealand Smart Farming Market (by Product), $Million, 2023-2034 Table 118: Australia and New Zealand Smart Farming Market (by Hardware), $Million, 2023-2034 Table 119: Australia and New Zealand Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 120: Australia and New Zealand Smart Farming Market (by Software), $Million, 2023-2034 Table 121: Thailand Smart Farming Market (by Application), $Million, 2023-2034 Table 122: Thailand Smart Farming Market (by Product), $Million, 2023-2034 Table 123: Thailand Smart Farming Market (by Hardware), $Million, 2023-2034 Table 124: Thailand Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 125: Thailand Smart Farming Market (by Software), $Million, 2023-2034 Table 126: Rest-of-Asia-Pacific Smart Farming Market (by Application), $Million, 2023-2034 Table 127: Rest-of-Asia-Pacific Smart Farming Market (by Product), $Million, 2023-2034 Table 128: Rest-of-Asia-Pacific Smart Farming Market (by Hardware), $Million, 2023-2034 Table 129: Rest-of-Asia-Pacific Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 130: Rest-of-Asia-Pacific Smart Farming Market (by Software), $Million, 2023-2034 Table 131: Middle East and Africa Smart Farming Market (by Application), $Million, 2023-2034 Table 132: Middle East and Africa Smart Farming Market (by Product), $Million, 2023-2034 Table 133: Middle East and Africa Smart Farming Market (by Hardware), $Million, 2023-2034 Table 134: Middle East and Africa Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 135: Middle East and Africa Smart Farming Market (by Software), $Million, 2023-2034 Table 136: Israel Smart Farming Market (by Application), $Million, 2023-2034 Table 137: Israel Smart Farming Market (by Product), $Million, 2023-2034 Table 138: Israel Smart Farming Market (by Hardware), $Million, 2023-2034 Table 139: Israel Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 140: Israel Smart Farming Market (by Software), $Million, 2023-2034 Table 141: Turkey Smart Farming Market (by Application), $Million, 2023-2034 Table 142: Turkey Smart Farming Market (by Product), $Million, 2023-2034 Table 143: Turkey Smart Farming Market (by Hardware), $Million, 2023-2034 Table 144: Turkey Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 145: Turkey Smart Farming Market (by Software), $Million, 2023-2034 Table 146: Rest-of-Middle East and Africa Smart Farming Market (by Application), $Million, 2023-2034 Table 147: Rest-of-Middle East and Africa Smart Farming Market (by Product), $Million, 2023-2034 Table 148: Rest-of-Middle East and Africa Smart Farming Market (by Hardware), $Million, 2023-2034 Table 149: Rest-of-Middle East and Africa Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 150: Rest-of-Middle East and Africa Smart Farming Market (by Software), $Million, 2023-2034 Table 151: South America Smart Farming Market (by Application), $Million, 2023-2034 Table 152: South America Smart Farming Market (by Product), $Million, 2023-2034 Table 153: South America Smart Farming Market (by Hardware), $Million, 2023-2034 Table 154: South America Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 155: South America Smart Farming Market (by Software), $Million, 2023-2034 Table 156: Brazil Smart Farming Market (by Application), $Million, 2023-2034 Table 157: Brazil Smart Farming Market (by Product), $Million, 2023-2034 Table 158: Brazil Smart Farming Market (by Hardware), $Million, 2023-2034 Table 159: Brazil Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 160: Brazil Smart Farming Market (by Software), $Million, 2023-2034 Table 161: Rest-of-South America Smart Farming Market (by Application), $Million, 2023-2034 Table 162: Rest-of-South America Smart Farming Market (by Product), $Million, 2023-2034 Table 163: Rest-of-South America Smart Farming Market (by Hardware), $Million, 2023-2034 Table 164: Rest-of-South America Smart Farming Market (by Hardware), Thousand Units, 2023-2034 Table 165: Rest-of-South America Smart Farming Market (by Software), $Million, 2023-2034 Press Release
According to a premium market intelligence study by BIS Research, the global smart farming market is projected to reach $117.20 billion by 2034. The study also highlights that the market is set to witness a CAGR of 19.09% during the forecast period 2024-2034.
The global smart farming market is in a growing stage and is projected to experience significant growth. Market players investing in research, advanced precision farming technologies, and strategic partnerships are poised to capitalize on the increasing demand for smart farming solutions. As regulatory frameworks focus on sustainability and public awareness of resource-efficient farming rises, these investments will enable companies to enhance their technological offerings, improve farm productivity, and offer comprehensive, data-driven agricultural solutions. USPs of this report • A dedicated section focusing on the trends adopted by the key players operating in the smart farming market • Competitive landscape of the companies operating in the ecosystem offering a holistic view of the smart farming market landscape • Qualitative and quantitative analysis of the smart farming market at the region and country level and granularity by application and product segments • Supply chain and value chain analysis Analyst Perspective According to Debraj Chakraborty, Principal Analyst, BIS Research, “Smart farming market has been undergoing transformative growth, driven by advancements in precision agriculture, rising investments in agri-tech startups, and the integration of blockchain technology. Precision farming optimizes resource use, enhancing productivity while minimizing environmental impact. Increased funding accelerates the development of innovative technologies such as IoT sensors and AI-driven platforms, boosting adoption. However, challenges such as farmers' lack of technical expertise and concerns over data security remain critical. Blockchain enhances transparency and traceability, addressing key value chain issues. As sustainability and technological innovation converge, the market is set for significant expansion, offering solutions to global food security challenges and fostering a more efficient and resilient agricultural ecosystem.” Key Companies Profiled The key players profiled in the report include Ag Leader Technology, AGCO Corporation,CNH Industrial N.V., Deere & Company, Hexagon AB, KUBOTA Corporation, Climate LLC BASF, CropX inc., Connecterra B.V., Signify Holding, ams-OSRAM AG, Afimilk Ltd., Allflex, Nedap N.V., Cargill, Incorporated, GEA Group Aktiengesellschaft, AKVA group ASA, Eruvaka Technologies Pvt. Ltd, and AquaManager Key Questions Answered in the Report • What are the main factors driving the growth of the global smart farming market? • How does the supply chain function in the global smart farming market? • Which are the key players in the global smart farming market, and what are their respective market shares? • What partnerships or collaborations are prominent among stakeholders in the global smart farming market? • What are the strategies adopted by the key companies to gain a competitive edge in the global smart farming market? • What is the futuristic outlook for the global smart farming market in terms of growth potential? • What is the current estimation of the global smart farming market, and what growth trajectory is projected from 2024 to 2034? • Which application and product segments are expected to lead the market over the forecast period (2024-2034)? • What could be the impact of growing end-use industries in the global smart farming market? • Which regions demonstrate the highest adoption rates for the global smart farming market, and what factors contribute to their leadership?
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