Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Smart Agriculture: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Smart Agriculture Market to Reach $25.3 Billion by 2030
In the dynamically changing post-pandemic landscape, the global Smart Agriculture market commenced with an estimated value of US$11.4 Billion in 2022.
Looking ahead, projections indicate a remarkable journey as the market is expected to expand to a size of US$25.3 Billion by 2030. This growth trajectory reflects a substantial Compound Annual Growth Rate (CAGR) of 10.4% during the comprehensive analysis period from 2022 to 2030.
The report's analysis delves into various market segments, with Hardware and Software being key focal points. The Hardware segment is projected to achieve a notable CAGR of 9.9%, resulting in a valuation of US$15.6 Billion by the close of the analysis timeline. In parallel, the Software segment's growth outlook has been re-evaluated, now projected to embrace a revised CAGR of 11.7% for the next eight-year span.
As for geographical market dynamics, the United States market is estimated at US$3.8 Billion in 2022. In contrast, China, the world's second-largest economy, is anticipated to surge forward, targeting a projected market size of US$2.8 Billion by 2030. This impressive growth will be supported by a compelling CAGR of 13.7% over the analysis period from 2022 to 2030.
Noteworthy geographic markets also include Japan and Canada, each forecast to grow at rates of 8.3% and 9.1%, respectively, throughout the 2022-2030 period. Within Europe, Germany is anticipated to sustain a commendable CAGR of approximately 9.2%, reflecting its progressive stance in the global Smart Agriculture landscape.
The Smart Agriculture market's robust growth trajectory is underpinned by its diversified segments, including Software, Hardware, and Services. Notable regions such as the United States, China, Japan, Canada, and Europe have emerged as key players driving the industry's development.
As the agricultural sector continues to evolve, these segments are poised to shape the future of Smart Agriculture, reflecting both innovative technologies and the changing dynamics of the post-pandemic world.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 501 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.4 Billion |
| Forecasted Market Value (USD) by 2030 | $25.3 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- The Pandemic Slows Down Demand for Agricultural Equipment and Services
- COVID-19 Related Issues Impacting Agriculture Industry
- Pandemic's Adverse Impacts on the Agriculture Industry
- Agriculture Industry Accelerates Advanced Technologies Adoption amid the Pandemic
- Smart Agriculture Transforming Traditional Farming
- Advantages of Using IoT in Agriculture
- Select Application of IoT
- Smart Agriculture Solutions
- Key Growth Drivers
- Blockchain Forays into the Farming Sector
- Factors Restraining Growth
- Market Analysis by Agriculture Type
- World Smart Agriculture Market by Agriculture Type (2020 & 2027): Percentage Breakdown of Revenues for Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, and Other Agriculture Types
- Analysis by Offering
- World Smart Agriculture Market by Offering (2020 & 2027): Percentage Breakdown of Revenues for Hardware, Software, and Services
- Geographic Analysis: North America Leads the Market
- World Smart Agriculture Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- World Smart Agriculture Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, USA, Canada, Europe, and Japan
- Competitive Scenario
- Recent Market Activity
- Select Innovations & Advancements
- Smart Agriculture - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
- AgTech Emerges as New Buzzword in Agricultural Industry
- Precision Aquaculture Market to Maintain Momentum with Added Fervor
- IoT-Powered Solutions to Redefine Livestock Monitoring Tasks
- Intriguing Advantages of Smart Greenhouses to Drive Growth
- Ongoing Shift Towards Precision Agriculture Instigates Opportunities
- GPS Systems & Navigation: Indispensable in Smart Agriculture Technologies
- Emphasis on Smart Farming & Agricultural IoT Bodes Well
- Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2020, 2022, 2024 & 2026
- Global Agricultural IoT Market (In US$ Billion) for the Years 2020, 2023 & 2026
- Persistent Need to Minimize Agricultural Emissions Fuel Demand
- Rising Food Security Concerns Drive Demand
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
- Climate Change Compounds Food Security Concerns
- Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
- Increasing Automation of Agricultural Operations Boosts Market
- Percentage of Mechanization in Agriculture in Select Countries
- Labor Shortage Issues & Rising Labor Costs Fuel Interest
- Shrinking Labor for Agriculture Raises the Red Flag Spurring Agriculture on the Road to Automation
- Contracting Agricultural Labor Drives Demand for Autonomous Farm Equipment
- Real Wages of Hired Farmworkers in the US (in $ Per Hour) for the Period 2002-2019
- Smart Technologies Become Relevant Amid Declining Agricultural Land Productivity & Shrinking Arable Land
- Global Availability of Arable Land in Hectares Per Person for the Years 1990, 2000, 2018 and 2020
- Arable Land Worldwide as a % of Total Land Area for the Years 1990, 2000, 2018 and 2020
- Increase in Corporate Farming & Growing Farm Sizes Enhance Market Prospects
- Autonomous Tractors Set to Widen Addressable Market
- Farm Consolidation & Increase in Average Size of Farm Pave the Way for the Deployment of Driverless Tractors: Percentage Breakdown of Farm Land by Size and Region
- Select Innovations in Autonomous Tractors Market
- Autonomous Farm Tractors to Become an Essential Constituent of Precision Agriculture
- Autonomous Vineyard Tractors to Provide Assistance to Growers
- Tractor Autopilot for Enhancing Farmer Productivity & Efficiency
- Blockchain Technology to Augment Smart Agriculture Market
- Government Initiatives to Modernize Agriculture Sector Augur Well
- Percentage (%) of Government Expenditure on Agriculture in Total Budgets by Region for the Years 2010, 2015, 2019 and 2021
- Developments in Machine Vision, AI, & ML Encourage Growth
- Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2020, 2023 and 2026
- ISOBUS ISO11783 Standard Streamlines Development of Smart Agricultural Equipment
- Rising Penetration of Robotics in Agricultural Sector Bodes Well
- Drones Emerge to Revolutionize Agriculture Sector
- Favorable Prospects for Agricultural Drones
- Rise in Popularity of Multi-Rotor Drones
- Software Enhancements to Drive Growth
- Advanced Sensors Make Agricultural Drones More Efficient
- Legislative Policies Present Challenges for Agricultural Drone Use
- High Cost & Shortage of Operators Remain Major Issues
- Pesticide Spraying Made Easier with Agricultural Drones
- Drones for Controlling Invasive Plants & Dispensing Beneficial Pest-Eating Insects
- Issues & Challenges
FOCUS ON SELECT PLAYERS (Total 199 Featured)
- Afimilk Agricultural Cooperative Ltd.
- Ag Leader Technology, Inc.
- AgJunction Inc.
- AKVA Group
- Aquabyte Inc.
- BouMatic LLC
- Certhon - Greenhouse Solutions
- Deere & Company
- DeLaval
- Fancom BV
- Heliospectra AB
- InnovaSea Systems, Inc.
- LumiGrow Inc.
- Nedap N.V.
- Quantum Spatial, Inc.
- Raven Industries, Inc.
- Scale Aquaculture AS
- The Climate Corporation
- Topcon Positioning Systems, Inc.
- Treemetrics Ltd.
- Trimble Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qdgt2g
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