As per the report published by Kings Research, the Smart Agriculture was valued at USD 14.32 billion in 2022. The market is projected to reach USD 45.39 billion by 2030, growing at a CAGR of 15.55% from 2023 to 2030.

The market for smart agriculture is expected to witness significant growth, fueled by the increasing size of farms and advancements in technology. These developments enable improved efficiency, productivity, and profitability within the industry. However, the smart agriculture market might experience a relatively slower growth rate due to the fragmented nature of the agriculture industry, which poses challenges in the adoption and implementation of advanced technologies and solutions.

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Key Market Players:  

Deere & Company, Trimble Inc., Raven Industries, Agco Corporation, Topcon Positioning Systems, Autonomous Solutions, Inc., Delaval Inc, Farmers Edge Inc, Boumatic Robotic B.V., Agjunction, Inc., and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

Key Insights

• Based on the type, hardware was the largest segment valued at USD 7.57 billion in 2022
• Based on application, the precise farming segment held the greatest market share of 62.52%
• On the basis of region, Asia-Pacific is the fastest-growing region with a CAGR of 19.99%

Topcon's Groundbreaking Transplanting Technology Revolutionizes Specialty Farming Operations

In February 2023, Topcon Positioning Systems launched transplanting guidance and control technology specifically designed for specialty farmers. This technology aims to optimize transplanting operations, ensuring precise and efficient planting. The new solution enhances accuracy, reduces labor requirements, and improves overall productivity for specialty crop growers.

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

Asia-Pacific Leads Smart Agriculture Market with Focus on Water Conservation

The remarkable surge in smart agriculture market is expected to be largely driven by the Asia-Pacific region. The inclination towards sustainable practices and proficient management of resources, primarily water conservation, has led to the adoption of advanced agricultural technologies in the region.

Farmers in the APAC region are readily adopting smart solutions such as sensor-based monitoring, data-driven analytics, and precision irrigation systems to refine their crop management and water utilization. This trend is expected to continue, with the Asia-Pacific region heading the worldwide adaptation of smart agriculture practices, thus propelling the growth of the market in upcoming years.

Technological Innovations

1. 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.
2. 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.
3. 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:

• Hardware
• Software
• Services

By Application:

• Precision Farming
• Livestock Monitoring
• Fish Farm Monitoring
• Smart Greenhouse
• Others

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