Smart Agriculture Market Developments: Recent Advances and Future...

Smart Agriculture Market Developments: Recent Advances and Future Prospects | KR

Posted 2024-11-15 07:00:05

Smart Agriculture Market size was valued at USD 14.32 billion in 2022 and is projected to reach USD 45.39 billion by 2030, growing at a CAGR of 15.55% from 2023 to 2030.

Regional Insights:

The Asia-Pacific region is emerging as the fastest-growing market, with a projected CAGR of 19.99%. This growth is primarily driven by the region's focus on sustainable practices and efficient resource management, particularly water conservation. Farmers in this region are increasingly adopting smart agricultural technologies such as sensor-based monitoring and precision irrigation systems

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Key Market Players:

Deere & Company
Trimble Inc.
Raven Industries
Topcon Positioning Systems
Autonomous Solutions, Inc.
DeLaval Inc
Farmers Edge Inc
BouMatic Robotic B.V.
AgJunction, Inc.
AGCO Corporation

Market Drivers:

Several key factors are fueling this growth. The expansion of farm sizes and the adoption of precision farming techniques are major contributors. These advancements enable enhanced efficiency, productivity, and profitability in the agriculture sector. Moreover, the integration of Infrastructural Health (IH) sensors is playing a crucial role in optimizing agricultural operations and resource conservation.

Technological Innovations

Precision Farming: The precise farming segment held the greatest market share of 62.52% in 2022. This segment's dominance is attributed to the benefits of precision agriculture, including reduced input costs and improved crop yields. Technologies such as GPS mapping, soil sampling, and data analytics are revolutionizing traditional farming methods.
Infrastructural Health Sensors: IH sensors continuously monitor the condition of agricultural infrastructure, such as irrigation systems and storage facilities, enabling real-time data collection and resource optimization. This technology supports sustainable farming practices and enhances operational efficiency.
Transplanting Technology: Topcon Positioning Systems introduced groundbreaking transplanting guidance and control technology in February 2023. This innovation is designed for specialty crop farmers, ensuring precise and efficient planting, thereby reducing labor requirements and improving overall productivity

Global Smart Agriculture Market is segmented as:

By Types: