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| Global Smart Agriculture Solution Market Size |
The global Smart Agriculture Solutions Market is estimated to be valued at US$ 29,014.62 Mn in 2023 and is
expected to exhibit a CAGR of 11% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Smart agriculture solutions use sensors, connected equipment and integrated
systems to optimize the usage of resources like water, fertilizers and
pesticides for agricultural operations. These solutions help farmers in making
informed decisions, improving yield, monitoring livestock health and optimizing
costs.
Market key trends:
One of the key trends spurring market growth is the use of artificial
intelligence in agriculture. AI is helping analyze huge amounts of data from
sensors, images and soil samples to gain insights for improving crop yields.
AI-based farm management systems use machine learning algorithms to detect
plant diseases at an early stage, analyze soil nutrition and provide
personalized recommendations to farmers. AI is also enabling precision
agriculture techniques through automation and remote monitoring of fields and
livestock. This is allowing efficient resource utilization and driving
sustainable agriculture practices.
Segment
Analysis
The global smart agriculture solution market is segmented by offering,
agriculture type, application, and geography. By offering, the market is
divided into hardware, software, and services. Hardware segment dominates the
market and is expected to continue its dominance over the forecast period owing
to increasing adoption of hardware components such as sensor devices, GPS/GNSS
systems, drones, and UAVs to monitor crop health, irrigation systems, harvest
yields, and soil conditions and implement variable rate applications.
Key Takeaways
The Global
Smart Agriculture Solution Market Size is expected to witness high
growth, exhibiting a CAGR of 11% over
the forecast period, due to increasing adoption of advanced technologies and
solutions such as IoT, AI, remote sensing and variable rate technology by
farmers to optimize productivity.
Regionally, North America dominates the market and is expected to continue its
dominance over the forecast period owing to presence of key market players and
early adoption of advanced technologies by farmers in the region. Asia Pacific
is expected to be the fastest growing region attributed to government
initiatives and increasing smart farming startups in countries such as India
and China.
Key players operating in the smart agriculture solution market are Dirt Road
Data, Inc., AgJunction LLC, Iteris, Inc., Site-Specific Technology Development
Group, Inc., CropMetrics LLC, Trimble Navigation Ltd., Agribotix LLC, AgEagle
Aerial Systems Inc., Granular, Inc., AgriSight, Inc., and SemiosBio
Technologies Inc. The key players are focusing on new product launches and
partnerships with hardware companies and agriculture giants to strengthen their
presence in the market. For instance, in 2021, AgriSight partnered with CLAAS
India to distribute climate and crop monitoring sensors in India.
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