According to recent research conducted by Mercatus Research (MR), the global AgTech in Smart Farming market exhibited promising growth, valued at US$ million in 2023. This sector is anticipated to further expand, reaching a revised size of US$ million by 2030, with a projected Compound Annual Growth Rate (CAGR) of 19.699999999999999% during the review period.
The study sheds light on the immense potential of the global AgTech in Smart Farming market. AgTech in Smart Farming are poised for consistent growth in the forthcoming market landscape. Nevertheless, achieving widespread adoption of AgTech in Smart Farming hinges on product differentiation, cost reduction, and supply chain optimization. Market participants must prioritize investments in research and development, establish strategic partnerships, and align their product offerings with evolving consumer preferences to harness the substantial opportunities inherent in the AgTech in Smart Farming market.
| REPORT METRIC | DETAILS |
| Forecast Period | 2024 – 2032 |
| Base Year | 2023 |
| Historic Years | 2018 – 2023 |
| CAGR % | 19.699999999999999% |
| Quantitative Units | Revenue in USD Million |
| Market Players Covered | John Deere, Bayer CropScience, The Climate Corporation (owned by Bayer), Corteva Agriscience, Yara International, Trimble, Taranis, Prospera Technologies, Granular (owned by Monsanto), DeLaval |
| Key Regions Covered | North America, Europe, Asia Pacific, Latin America and Rest of the World |
| Market Drivers | Precision agriculture techniques for optimizing crop yields.
Remote monitoring and data analytics for farm management. Environmental sustainability and resource conservation in agriculture. |
| Market Restrain | High upfront costs and technology adoption barriers for farmers.
Connectivity and infrastructure challenges in rural areas. Limited awareness and education about smart farming technologies. |
Key Aspects Covered:
Market Size and Growth: The research report presents an overview of the current market size, historical data, and market segmentation by type by applications etc. Additionally, it provides regional breakdowns, offering a comprehensive understanding of the market’s scope and potential.
Market Drivers and Challenges: The report analyzes the factors propelling the growth of AgTech in Smart Farming, including government regulations, environmental concerns, technological advancements, and evolving consumer preferences. It also delves into challenges faced by the industry, such as infrastructure limitations and high upfront costs.
Competitive Landscape: The research delves into the competitive landscape, profiling key players. It examines their market share, strategies, and product offerings, while also highlighting emerging players and their potential impact on the market.
Technological Developments: The report explores the latest technological advancements in the AgTech in Smart Farming sector, encompassing innovations, investments, and new entrants that are shaping the industry’s future.
Consumer Preferences: Insight into customer procurement behavior, preferences, and factors influencing purchasing decisions are detailed. This includes preferences for specific AgTech in Smart Farming products.
Government Policies and Sustainability: An analysis of government policies, subsidies, tax incentives, and their effectiveness in promoting the AgTech in Smart Farming market is included. Additionally, the report assesses the environmental impact and sustainability aspects of the industry.
Market Forecasts and Outlook: Based on comprehensive analysis, the report provides market forecasts, growth rates, regional trends, and predictions concerning technological advancements and policy developments, offering a holistic view of the market’s future.
Recommendations and Opportunities: The report concludes with strategic recommendations for industry stakeholders, policymakers, and investors. It identifies potential opportunities, key trends, and challenges, guiding market players to make informed decisions.
AgTech in Smart Farming Market Drivers:
- Precision agriculture techniques for optimizing crop yields.
- Remote monitoring and data analytics for farm management.
- Environmental sustainability and resource conservation in agriculture.
AgTech in Smart Farming Market Restrain:
- High upfront costs and technology adoption barriers for farmers.
- Connectivity and infrastructure challenges in rural areas.
- Limited awareness and education about smart farming technologies.
AgTech in Smart Farming Market Segmentation:
The AgTech in Smart Farming market is segmented By Type
- Sensors (Soil Moisture Sensors, Weather Stations)
- Data Analytics Platforms
The AgTech in Smart Farming market is segmented By Application
- Precision Irrigation
- Crop Yield Prediction
- Farm Management Optimization
The report further divides the market by Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Note: Please feel free to reach out to us for further details on the comprehensive segmentation of the report. Our bespoke research will meticulously address the business information you seek, facilitating the formulation of strategic and profitable business decision.
These insights provide a comprehensive understanding of the global AgTech in Smart Farming market, offering valuable guidance for businesses and investors aiming to navigate this dynamic industry landscape.
The profiled companies were meticulously selected based on insights garnered from primary experts and a comprehensive analysis of their company coverage, product portfolio, and market penetration.
John Deere, Bayer CropScience, The Climate Corporation (owned by Bayer), Corteva Agriscience, Yara International, Trimble, Taranis, Prospera Technologies, Granular (owned by Monsanto), DeLaval & Others.
Key Questions Explored in this Report:
- What is the projected growth trajectory of the global AgTech in Smart Farming market over the next ten years?
- What are the primary factors propelling the expansion of the AgTech in Smart Farming market, both globally and across distinct regions?
- Which emerging technologies are anticipated to exhibit the most rapid growth within the AgTech in Smart Farming market, categorized by market and region?
- How do AgTech in Smart Farming market opportunities vary in relation to end market size?
How does the AgTech in Smart Farming market break down by type and application?
