REPORT ATTRIBUTE | DETAILS |
---|---|
MARKET SIZE (2032) | USD 23.30 billion |
MARKET SIZE (2024) | USD 10.54 billion |
CAGR (2023-2029) | 9.1% |
HISTORIC YEAR | 2019 |
BASE YEAR | 2023 |
FORECAST YEAR | 2032 |
BY TYPE | IoT Devices and Sensors Automation and Robotics Artificial Intelligence and Data Analytics Remote Monitoring and Control Systems |
BY APPLICATION | Precision Crop Farming Livestock Monitoring and Management Indoor and Vertical Farming Aquaculture |
GEOGRAPHIC ANALYSIS | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
KEY PLAYERS | John Deere & Company, Trimble Inc., AGCO Corporation, CNH Industrial N.V., Raven Industries, Inc., AgJunction Inc., Ag Leader Technology, Topcon Positioning Systems, Inc., Yara International ASA, DeLaval Inc., Farmers Edge Inc., PrecisionHawk Inc., TeeJet Technologies, SST Development Group, Inc., Agribotix LLC, Granular, Inc., Aerobotics, Blue River Technology (Part of John Deere), Climate Corporation (Part of Bayer), Taranis. |
Introduction: -
Introduction to Intelligent Agriculture is a comprehensive overview of the impact of technology on the agriculture industry. The article highlights how smart agriculture, utilizing cutting-edge technologies like IoT, AI, and big data analytics, is transforming traditional farming practices. The main goal of smart agriculture is to increase efficiency, productivity, and sustainability in agricultural operations.
The urgency to feed a growing global population, coupled with challenges such as climate change and water scarcity, has led to the adoption of smart agriculture as a solution. By optimizing resource use and reducing environmental impact, smart farming allows farmers to produce more with less, ensuring food security for future generations.
Furthermore, smart agriculture focuses on sustainability and environmentally conscious practices. By implementing methods like precision nutrient management and regenerative agriculture, farmers can minimize chemical use, reduce emissions, and protect biodiversity. This not only benefits the planet but also meets consumer demand for ethically produced food.
The article emphasizes the transformative potential of smart agriculture, with governments, businesses, and farmers investing in research and infrastructure to accelerate its adoption. The industry is constantly evolving, with innovations like autonomous drones and blockchain-enabled supply chains reshaping the future of agriculture. Overall, smart agriculture promises a more efficient, sustainable, and profitable future for farmers and consumers alike.
The global Smart Farming Market value was 10.54 billion in 2024, it is Expected to Hit 23.30 billion by 2032 with CAGR of 9.1%
The smart agriculture market is growing due to the popularity of controlled environment cultivation in greenhouses using technologies like LED grow lights. This shift towards LED technology is expected to drive exponential growth in the smart agriculture market. However, barriers to adoption in remote areas include limited connectivity, infrastructure, and technical knowledge among farmers. Providers and developers face challenges in interoperability and compatibility of different hardware and software systems in smart agriculture. Standardization efforts are necessary to enable seamless integration and communication between different technologies. Information security and privacy are also crucial in protecting sensitive agricultural data from unauthorized access and breaches. Implementing strong security measures such as encryption and access control is essential to safeguard data integrity and confidentiality in smart farming systems. Addressing these challenges through improved connectivity, infrastructure, training programs, and security measures is crucial for widespread adoption and maximization of the benefits of smart agriculture technologies.
Increasing awareness of sustainable agriculture: Consumers are increasingly aware of the environmental and social impacts of traditional agriculture. Smart farming techniques enable farmers to adopt more sustainable practices, such as precise nutrient management and reduced use of pesticides.
Segmentation by Types of Technologies
Segmentation by Applications
By region
North America
Europe:
Asia-Pacific:
Latin America:
Middle East & Africa:
Nigeria
Key market players: -
Adoption of IoT and sensor technologies in agriculture allows for real-time data collection on soil health, weather conditions, and crop growth. Artificial intelligence and machine learning algorithms are used to analyze data for improved crop management and pest detection. Precision agriculture techniques like variable input use and automated machinery are growing in popularity to increase yields while reducing costs. Big data analytics platforms process large amounts of agricultural data to identify trends and improve practices. Vertical farming is gaining traction for year-round production with reduced water use. Overall, there is a focus on sustainability in agriculture to minimize environmental impact.
Animal manure can disrupt the nitrogen cycle or pollute water bodies. Livestock has a huge environmental footprint and a negative impact on the climate. It also contributes to soil and water degradation, biodiversity loss, acid rain, coral reef degradation and deforestation. The livestock sector already uses about 10 percent of the world's agricultural land and 8 percent of all available fresh water. It is also largely responsible for deforestation and biodiversity loss, accounting for 15 percent of global carbon dioxide emissions.
Opportunities: -
The growing focus on connecting smartphones to agricultural hardware and software is a major trend in the smart agriculture market. This development is due to the increasing accessibility of smartphones, their powerful functions and the potential they offer to improve various aspects of agriculture and farm management. Smartphones are now widely available among people in both urban and rural areas. Farmers and agricultural workers often already have smartphones, making them practical tools for integration into smart farming systems without significant additional investment. Smartphones have several connectivity options, such as cellular data, Wi-Fi and Bluetooth. This connectivity allows them to communicate with other agricultural hardware and software components, creating a seamless network of data sharing and remote control.
MOLINE, Illinois (May 16, 2024) — Deere & Company reported net income of $2.370 billion for the second quarter ended April 28, 2024, or $8.53 per share, compared with net income of $2.860 billion, or $9.65 per share, for the quarter ended April 30, 2023. For the first six months of the year, net income attributable to Deere & Company was $4.121 billion, or $14.74 per share, compared with $4.819 billion, or $16.18 per share, for the same period last year.
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We asked them to research ‘Ag equipment market’ all over the world, and their whole arrangement was helpful to us. Mordor Intelligence’s insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
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