Global Size & Share of Smart Agriculture Market Will Grow to USD 32.1 Billion By 2030, With 10.4% CAGR: Updated Report by Polaris Market Research

NEW YORK, Jan. 13, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Smart Agriculture Market Share, Size, Trends, Industry Analysis Report by Component (Hardware, Software, Services); By Application; By Regions, Segments & Forecast, 2022 – 2030" published by Polaris Market Research in its research repository.

According to the research study, the global smart agriculture market size & share was valued at USD 13.17 billion in 2021 and is anticipated to grow USD 32.1 Billion by 2030, at a CAGR of 10.4% during the forecast period.

What is Smart Agriculture? What is Expected Size & Share of Smart Agriculture Market?

• Report Overview

Smart farming is the management concept that offers the agricultural industry the infrastructure to leverage progressive technology such as big data, the cloud, and IoT. The rapidly rising demand for smart agriculture market can be attributed to the combination of expanding global population, the growing demand for high crop yield, and the need to use natural resources efficiently.

They are increasing the automation of commercial greenhouses and expanding the application of the controlled environment agriculture concept in greenhouses so that a higher yield is obtained and optimum growing conditions are maintained. Cultivators understand the possible benefits of growing plants inside a greenhouse which has led to the development of commercial greenhouses.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2030 Updated Report Introduction, Overview, and In-depth industry analysis
• 115+ Pages Research Report (Inclusion of Updated Research)
• Provide Chapter-wise guidance on Request
• 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Smart Agriculture Market Report Highlights

• In 2021, North America dominated the smart agriculture market. The reasons for leading this market are attributed to high market penetration in the U.S., key players supported by extensive R&D activities, and the presence of a proper regulatory environment in this region.
• During the forecast period, Asia Pacific countries like Singapore, India, and Japan are expected to experience the highest growth rate due to rising support from the government and the entering of many new players.
• The impact of Covid 19 pandemic had remain moderate for this sector. Factors playing against the growth of this market are labor supply shortages and supply chain disruptions due to lockdowns implemented by the government. But stringent government regulations regarding food safety and increasing awareness of health boost the need for adopting smart agricultural solutions.
• In the forecast period, software segment is anticipated to dominate the market due to increasing technological advancements and their implementation. The growth for this segment has been attributed to the rapid adoption of smartphones globally and greater investments in IT solutions from private players.

Some of the Top Market Players Are:

• AG Leader Technology
• AGCO Corporation
• Trimble Inc.
• Precision Planting Inc.
• AgJunction Inc.
• Agribotix LLC
• Deere & Company
• The Climate Corporation
• Autonomous Solutions Inc.
• Drone Deploy
• CLAAS Group
• CNH Industrial

To know an additional revised list of top market players, request a sample report, 2023 - 2032: https://www.polarismarketresearch.com/industry-analysis/smart-agriculture-market/request-for-sample  

Growth Driving Factors

• Intelligent network infrastructural health sensors for maintenance in real time to push the market

Key technologies propelling the market demand include livestock biometrics such as RFID and GPS to assist cultivators in automatically obtaining information regarding livestock in real time. Additionally, infrastructural health sensors are used for monitoring material conditions and vibrations in building, factories, bridges, farms, and other infrastructure. The smart agriculture market size is expanding as, together with an intelligent network, infrastructural health sensors offer information for maintenance in real-time.

Agricultural robots are being used to automate farming processes such as soil maintenance, weeding, fruit picking, harvesting, planting, plowing, and irrigation, among others. Smart agriculture market sales are soaring to sustain profits, and farmers are growingly adopting more innovative and efficient agricultural technologies to deliver high-quality products to the market in sufficient quantities. Mobile technology helps in offering innovative services and applications that are used across the agricultural value chain.

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Recent developments

• In March 2022, John Deere offered new stepless Electric Variable Transmission (EVT) in their 8 and 9 series tractors for the model year 2023 and enhanced transmission performance, reliability, and increased efficiency.

Segmental Analysis

• The hardware segment is expected to dominate the market

Based on components, the hardware segment is anticipated to dominate the market during the forecast period. Smart agriculture market demand is on the rise due to the growing demand for automation of agriculture which will give rise to growth in the manufacturing of several innovative agricultural tools, dairy products, and other remote sensing devices, which are the main driving factors of this segment shortly.

• Smart greenhouse application segment to witness a significant growth

Based on application, the smart greenhouse application segment is also expected to grow significantly due to the escalating need for well-developed irrigation infrastructure and increasing environmental concerns. Smart agriculture market trends include the prominent applications for smart greenhouses to offer substantial heating and ventilation to the crops amidst these growing environmental worries, pushing the market's growth.

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Smart Agriculture Market: Report Scope

Geographic Overview

• Escalating population density to drive the North American market

North America held the largest smart agriculture market share due to growing government initiatives and escalating population density. Favorable guidelines for expanding this market and tax incentives are some of the other key drivers. Initiatives are taken, such as offering subsidies for the betterment in the applications of smart irrigation, forming a platform, "The North America Climate Smart Agriculture Alliance (NACSAA)," for educating and equipping the cultivators for sustainable agricultural productivity and rebate on smart controllers.

Among the emerging economies, the Asia Pacific countries are anticipated to grow in the forecast period. Countries like India, China, and Japan are in the early stage of adoption for this market and have been adopting these technologies speedily. Growing demand for food and increasing pressure on farmers to enhance yields with limited resources are significant drivers for these emerging markets.

Browse the Detail Report "Smart Agriculture Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software, Services); By Application; By Regions, Segments & Forecast, 2022 – 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/smart-agriculture-market  

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Polaris Market Research has segmented the global Smart Agriculture market on the basis of component, Application and region:

By Component Outlook

• Hardware
• Software
• Services

By Application Outlook

• Precision Farming
• Yield Monitoring
• Soil Monitoring
• Irrigation System
• Fish Farming
• Horticulture
• Livestock Monitoring
• Smart Greenhouse
• Others

By Region Outlook

• North America (U.S, Canada, Mexico)
• Asia-pacific (China, Japan, India, Rest of Asia- pacific)
• Europe (Germany, UK, France, Italy, Rest of Europe)
• Latin America (Brazil, Middle East & Africa)

Browse More Related Reports:

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research