
Global Smart Farms Market Size By Agriculture Type (Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, and Others), Offering (Hardware, Software, Services), Services (System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, and Professional Services), Solution (Network Management, Agriculture Asset Management, Supervisory Control, and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, and Others), Application (Irrigation Management, Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking And Forecasting, Inventory Management, and Farm Labour Management, Others), And Region Global Smart Farms Market, 2023-2030
The Global Smart Farms Market size was valued at USD 16200 Million in 2023 and is projected to reach USD 30399 Million by 2030, growing at a CAGR of 9.40% from 2023 to 2030.
Global smart farms refer to advanced farming practices that utilize modern technologies, such as the Internet of Things (IoT), sensors, drones, big data analytics, and other emerging technologies to optimize crop production, improve resource management, and reduce waste.
Source: Statista
In the above graph, the total global market size for agriculture technology-as-a-service stood at about 1.1 billion U.S. dollars in 2020.
Top Key Players Involved Are:
"AeroFarms (US), Freight Farms (US), LumiGrow (US), Osram (Germany), Philips Lighting (Netherlands), Signify (Netherlands), Ag Leader Technology (US), AGCO (US), Deere & Company (US), Precision Planting (US), Raven Industries (US), Sentera (US), TeeJet Technologies (US), Topcon Positioning Systems (US), Trimble Navigation (US), Aerotech (US), AG Junction (US), AutoCopter Corp. (US), BouMatic Robotics (US), Fullwood Packo (UK) and Other Major Players."
The adoption of precision farming technologies is a key opportunity for the growth of the global smart farms market. Precision farming involves using data-driven insights to optimize farming practices such as planting, irrigation, fertilization, and harvesting. By leveraging smart farming technologies such as sensors, drones, and analytics software, farmers can make informed decisions about their operations and improve the efficiency and productivity of their farms.
Global Smart Farms Market segments cover the Agriculture Type, Offering, service, Solution, and Application. By Agriculture Type, the Precision Farming segment is Anticipated to Dominate the Market Over the Forecast period.
North America is Expected to Dominate the Market Over the Forecast Period.
The COVID-19 pandemic has had both positive and negative impacts on the Global Smart Farms Market.
Positive impacts:
Negative impacts:
In January 2021, AeroFarms announced a partnership with Hortifrut, a leading berry producer, to develop vertical farming solutions for berries.
In April 2021, AGCO announced a new partnership with Solinftec, a Brazilian agtech company, to expand its precision farming capabilities. The partnership aims to integrate Solinftec's digital agriculture platform with AGCO's equipment to provide farmers with more precise insights into their operations.
Global Smart Farms Market |
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Base Year: |
2022 |
Forecast Period: |
2022-2030 |
Historical Data: |
2016 to 2022 |
Market Size in 2023: |
USD 16200 Mn. |
Forecast Period 2022-30 CAGR: |
9.40% |
Market Size in 2030: |
USD 30399 Mn. |
Segments Covered: |
By Agriculture Type |
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By Offering |
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By Services |
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By Solution |
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By Application |
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By Region |
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Global Smart Farms Market |
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Base Year: |
2022 |
Forecast Period: |
2022-2030 |
Historical Data: |
2016 to 2022 |
Market Size in 2023: |
USD 16200 Mn. |
Forecast Period 2022-30 CAGR: |
9.40% |
Market Size in 2030: |
USD 30399 Mn. |
Segments Covered: |
By Agriculture Type |
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By Offering |
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By Services |
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By Solution |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the Report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Agriculture Type
3.2 By Offering
3.3 By Services
3.4 By Solution
3.5 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
The forecast period in the Global Smart Farms Market Research Report is 2023-2030.
AeroFarms (US), Freight Farms (US), LumiGrow (US), Osram (Germany), Philips Lighting (Netherlands), Signify (Netherlands), Ag Leader Technology (US), AGCO (US), Deere & Company (US), Precision Planting (US), Raven Industries (US), Sentera (US), TeeJet Technologies (US), Topcon Positioning Systems (US), Trimble Navigation (US), Aerotech (US), AG Junction (US), AutoCopter Corp. (US), BouMatic Robotics (US), Fullwood Packo (UK), and Other key players.
The Global Smart Farms Market is segmented By Agriculture Type, Offering, Service, Solution, Application, and region. By Agriculture Type, the market is categorized into Precision Farming, Livestock Monitoring, Fish Farming, Smart greenhouses, and others. By Offering, the Market is Categorized Hardware, Software, and Services. By Service, the market is categorized into System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, and Professional Services. By Solution, the market is categorized into Network Management, Agriculture Asset Management, Supervisory Control, and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, and Others. By Application, the market is categorized into Irrigation Management, Yield Monitoring, Crop Scouting, Field Mapping, Weather Tracking and Forecasting, Inventory Management, and Farm Labour Management, and others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia Pacific (China; India; Japan; South Korea; Malaysia; Thailand; Vietnam; The Philippines; Australia; New-Zealand; Rest of APAC), Middle East & Africa (Turkey; Bahrain; Kuwait; Saudi Arabia; Qatar; UAE; Israel; South Africa), South America (Brazil; Argentina; Rest of SA)
Global smart farms refer to advanced farming practices that utilize modern technologies, such as the Internet of Things (IoT), sensors, drones, big data analytics, and other emerging technologies to optimize crop production, improve resource management, and reduce waste. Smart farms, also known as precision agriculture or digital farming, integrate various technologies and solutions to monitor environmental conditions, track plant growth and livestock, automate irrigation and fertilization processes and analyse data in real-time to improve yields and reduce costs and enhance sustainability.
The Global Smart Farms Market size was valued at USD 16200 Million in 2022 and is projected to reach USD 30399 Million by 2030, growing at a CAGR of 9.40% from 2023 to 2030.