Summary

Overview
Global Smart Farming Market reached US$ 11.12 billion in 2022 and is expected to reach US$ 22.45 billion by 2030, growing with a CAGR of 9.1% during the forecast period 2023-2030.
Smart farming is highly being adopted as it can help increase the overall productivity of the crop and reduces the usage of electricity, fuel, fertilizers, and water. Which helps the cost of production for farmers. Smart farming offers a wide range of advanced tools and systems that helps the farmers with precision monitoring of crops. These factors help in boosting the global smart farming market growth.
The smart farming market is continuously evolving, with new designs, techniques, and innovations emerging. Farmers show more willingness to adopt smart farming technologies as they help in precision farming and reduce wastage and usage of water. These factors help in boosting the market growth during the forecast period.
Furthermore, the government is also launching schemes to help the farmers to adopt these technologies. For instance, In September 2021, the government of India proposed a Production Linked Incentive (PLI) scheme for drones and drone components. This scheme has been widely welcomed by academia and industry experts. This scheme has multiple features to help the industry.
Dynamics
Increase in Demand for Precision Farming
Farmers are able to apply cutting-edge technologies to increase crop efficiency, cut waste, and boost total crop output, smart farming is becoming more and more popular. This technology can give farmers precise information on the crops, assisting them in managing the crop's resources., this can help in increasing the adoption of smart farming.
Furthermore, many key players are focusing to produce high-quality products to attract and help the farmers in order to achieve high production. For instance, In March 2022, Ambee launched SmartFarming Data’, a new offering that brings data science techniques to farmers and agribusinesses to improve the health of their farms. This allows the farmers to understand their farms better, mitigate the impact of climate change on agriculture, take measures to monitor and mitigate soil degradation and increase agricultural productivity.
Innovative Technology
The continuous development of innovative smart farming technology helps increase the adoption of these technologies. Smart farming technologies offer a wide range of advanced technologies such as the Internet of things, drones, unmanned aerial vehicles, and some others. As these technologies offer precision monitoring of crops, they can help in increasing adoption by farmers.
Furthermore, key players are continuously launching innovative products in order to increase their consumer base. For instance, In July 2023, XAG agriculture drone P100 Pro has launched in Vietnam, it helps in increasing the efficiency and agility on farms to higher levels. This product provides Vietnamese farmers with a fully autonomous, easy-to-operate solution with a large payload of 50 kilograms. These launches help in boosting the market growth.
High Product Cost
The cost of smart farming technologies can vary depending on the advanced technologies used, quality of materials, brand, and area of availability. High-priced technologies can make them less accessible for a larger consumer base, especially for small-scale farmers, or undeveloped area farmers. These factors can cause declination in market size.
For instance, the high cost may vary on the type of product, for instance, According to Tractor Junction the Spraying drone costs between 3.5 lakh INR to 12.5 lakh INR. These high costs can reduce the adoption of the smart farming technologies which can cause declination in global smart farming market.
Segment Analysis
The global Smart Farming market is segmented based on agriculture type, offering, solution, farm size, distribution channel, application, end-user, and region.
Rising Demand For Effective Crop Productivity
The yield monitoring segment holds a major share of the global smart farming market. Smart farming provides sensor technology that helps in monitoring and collecting data regarding various factors such as soil moisture, temperature, humidity, and nutrient levels in crops. They help in providing the farmers to take decisions regarding irrigation, and fertilizers usage. These factors can help in increasing crop productivity.
Furthermore, many manufacturers are focusing to produce innovative products to attract large-scale farmers. For instance, In April 2023, Bosch BASF Smart Farming and Bosch and BASF Digital Farming started a joint venture, to make a global market and sell smart farming technology which is ONE SMART SPRAY. This offers customized agronomic recommendations, intelligent sensitivity levels, high-precision agronomic maps, automated documentation, and further features in ONE solution. This is truly smart weed control, which supports maximum input efficiency and more sustainable farming practices.
Geographical Penetration
North America’s Growing Smart Farming Industry
The North American smart farming market has witnessed significant growth and popularity covering maximum share in 2022. The farmers in this region are more attracted to these technology as they help in precision farming, helps in providing accurate information regarding the usage of fertilizers, water, and others. These factors help in driving the market in this region.
Furthermore, major manufacturing companies are expanding their market in this by launching a wide range of products. For instance, In May 2023, Volatus Aerospace Corp has announces it has received a Transport Canada special authority to operate heavy crop spraying drones weighing over 25 kg anywhere in Canada. This provides an ability to offer compliant drone crop spraying services across Canada for our precision agriculture clients.
Source: DataM Intelligence Analysis (2023)
Competitive Landscape
The major global players include XAG, Ag Leader Technology, Inc., AgJunction Inc., Deere & Company, Afimilk Agricultural Cooperative Ltd., DeLaval, AKVA Group, Aquabyte Inc., BouMatic LLC, and InnovaSea Systems, Inc.
COVID-19 Impact Analysis

COVID Impact
The pandemic brought a disruption in the supply chain due to government lockdown restrictions, it affected agriculture practices. Many manufacturing countries are shut down due to inadequate supply of raw materials and low employment ratio. These factors showed a negative impact on the global smart farming market.
By Agriculture Type
• Precision Farming
• Livestock Monitoring
• Fish Farming
• Smart Greenhouse
• Others
By Offering
• Hardware
• Monitors
• Controllers
• Sensors
• Software
• Web Based
• Cloud Based
• Service
• System Intergration and Consulting
• Support and Maintenance
• Connectivity Services
• Managed Services
• Professional Services
By Solution
• Network Management
• Agriculture Asset Management
• Smart Water Management
• Logistics and Supply Chain Management
• Others
By Farm Size
• Small Farms
• Medium Farms
• Large Farms
By Distribution Channel
• Company Stores
• E-Commerce
• Specialty Stores
• Others
By Application
• Yield Monitoring
• Field Mapping
• Crop Scouting
• Weather Tracking and Forecasting
• Irrigation Management
• Feeding Management
• Milk Harvesting
• Fish Tracking
• Others
By End-User
• Livestock
• Agriculture
• Aquaculture
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• In March 2023, Pepsico and Cropin, a leading global agri-tech company collaborated. Pepsico India, through its brand “Lay’s”, announced a crop & plot-level predictive intelligence model to help farmers maximize potato yields coupled with quality via functional dashboards on user-friendly mobile apps for Precision Agriculture model for India and is being implemented as a pilot project in demo farms at Gujarat and Madhya Pradesh.
• In June 2023, Hyderabad-based company Magellanic Cloud introduced agricultural and logistics drones with various capacities and ranges. These drones, made in India, are capable of autonomous operation without the need for human guidance with operational ranges varying from 5 km to 60 km, and can carry cargo payloads ranging from 2 kg to 100 kg.
• In August 2023, Delaval launched a cutting-edge E-series rotary milking system with helps in increases milking efficiency, streamlines worker routines, automates the selecting and sorting of cows, and minimizes stress on dairy cattle.
Why Purchase the Report?
• To visualize the global Smart Farming market segmentation based on agriculture type, offering, solution, farm size, distribution channel, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Smart Farming market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global smart farming market report would provide approximately 93 tables, 109 figures and 221 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Agriculture Type
3.2. Snippet by Offering
3.3. Snippet by Solution
3.4. Snippet by Farm Size
3.5. Snippet by Distribution Channel
3.6. Snippet by Application
3.7. Snippet by End-User
3.8. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Increase in Demand for Precision Farming
4.1.1.2. Innovative Technology
4.1.2. Restraints
4.1.2.1. High Product Cost
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Agriculture Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
7.1.2. Market Attractiveness Index, By Agriculture Type
7.2. Precision Farming*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Livestock Monitoring
7.4. Fish Farming
7.5. Smart Greenhouse
7.6. Others
8. By Offering
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
8.1.2. Market Attractiveness Index, By Offering
8.2. Hardware*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.2.3. Monitors
8.2.4. Controllers
8.2.5. Sensors
8.2.6. Others
8.3. Software
8.3.1. Web Based
8.3.2. Cloud Based
8.4. Services
8.4.1. System Intergation and Consulting
8.4.2. Support and Maintenance
8.4.3. Connectivity Services
8.4.4. Managed Services
8.4.5. Professional Services
9. By Solution
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
9.1.2. Market Attractiveness Index, By Solution
9.2. Network Mangement*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Agriculture Asset Management
9.4. Smart Water Management
9.5. Logistics and supply Chain Management
9.6. Others
10. By Farm Size
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm Size
10.1.2. Market Attractiveness Index, By Farm Size
10.2. Small Farms*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Medium Farms
10.4. Large Farms
11. By Distribution Channel
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.1.2. Market Attractiveness Index, By Distribution Channel
11.2. Company Stores*
11.2.1. Introduction
11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
11.3. E-Commerce
11.4. Specialty Stores
11.5. Others
12. By Application
12.1. Introduction
12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
12.1.2. Market Attractiveness Index, By Application
12.2. Yield Monitoring*
12.2.1. Introduction
12.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
12.3. Field Mapping
12.4. Crop Scouting
12.5. Weather Tracking and Forecasting
12.6. Irrigation Management
12.7. Feeding Management
12.8. Milk Harvesting
12.9. Fish Tracking
12.10. Others
13. By End-User
13.1. Introduction
13.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
13.1.2. Market Attractiveness Index, By End-User
13.2. Livestock*
13.2.1. Introduction
13.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
13.3. Agriculture
13.4. Aquaculture
14. By Region
14.1. Introduction
14.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
14.1.2. Market Attractiveness Index, By Region
14.2. North America
14.2.1. Introduction
14.2.2. Key Region-Specific Dynamics
14.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
14.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Offering
14.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
14.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm size
14.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
14.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
14.2.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.2.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.2.10.1. U.S.
14.2.10.2. Canada
14.2.10.3. Mexico
14.3. Europe
14.3.1. Introduction
14.3.2. Key Region-Specific Dynamics
14.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
14.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By offering
14.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
14.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm Size
14.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
14.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
14.3.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.3.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.3.10.1. Germany
14.3.10.2. UK
14.3.10.3. France
14.3.10.4. Italy
14.3.10.5. Russia
14.3.10.6. Rest of Europe
14.4. South America
14.4.1. Introduction
14.4.2. Key Region-Specific Dynamics
14.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
14.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By offering
14.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
14.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm Size
14.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
14.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
14.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.4.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.4.10.1. Brazil
14.4.10.2. Argentina
14.4.10.3. Rest of South America
14.5. Asia-Pacific
14.5.1. Introduction
14.5.2. Key Region-Specific Dynamics
14.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
14.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By offering
14.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
14.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm Size
14.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
14.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
14.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
14.5.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
14.5.10.1. China
14.5.10.2. India
14.5.10.3. Japan
14.5.10.4. Australia
14.5.10.5. Rest of Asia-Pacific
14.6. Middle East and Africa
14.6.1. Introduction
14.6.2. Key Region-Specific Dynamics
14.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Agriculture Type
14.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By offering
14.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solution
14.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Farm Size
14.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
14.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
14.6.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
15. Competitive Landscape
15.1. Competitive Scenario
15.2. Market Positioning/Share Analysis
15.3. Mergers and Acquisitions Analysis
16. Company Profiles
16.1. XAG*
16.1.1. Company Overview
16.1.2. Product Portfolio and Description
16.1.3. Financial Overview
16.1.4. Recent Developments
16.2. Ag Leader Technology, Inc
16.3. AgJunction Inc
16.4. Deere & Company
16.5. Afimilk Agricultural Cooperative Ltd.
16.6. DeLaval
16.7. AKVA Group
16.8. Aquabyte Inc.
16.9. BouMatic LLC
16.10. InnovaSea Systems, Inc. LIST NOT EXHAUSTIVE
17. Appendix
17.1. About Us and Services
17.2. Contact Us