Smart Agriculture Market (By Offering (Hardware, Software, and Services), by Agriculture Type (Precision Farming, Precision Forestry, Livestock Monitoring, Smart Greenhouse, Precision Aquaculture, and others), By Application (Precision Farming Application, Precision Forestry Application, Livestock Monitoring Application, Smart Greenhouse Application, Precision Aquaculture Application, and others), By Farm Size (Small Farm, Medium Farm, and Large Farm)- Prospective Landscape, Size, Share, Growth, Opportunities and Industry Forecast 2019-2028

Report Synopsis

The global smart agriculture market is primarily driven by rising adoption of modern technologies such as agricultural robots, livestock biometrics, big data, and Internet of Things (IoT) among others across the globe. Smart agriculture offers reduced human efforts, optimal utilization of available resources, enhanced quality, increased productivity, and better profitability. The rising global population coupled with the increased demand for food is expected to further propel the global smart agriculture market demand during the forecast period. However, high cost of deployment of these modern technologies is one of the major factors anticipated to hamper the smart agriculture market growth in the years to come.

Market Insights

The global smart agriculture market was valued at US$ 12.7 Bn in 2019 and anticipated to grow at a CAGR of 13.5% throughout the forecast period to reach over US$ 34.9 Bn by 2028. The rising demand for smart agriculture in the developed economies such as the U.S., Europe coupled with the increasing investments in the smart farming technologies are the major growth factors of the market. Currently, the global smart agriculture market is in its early stages of growth and is anticipated to register significant growth in the years to come owing to increasing adoption of advanced technologies by the farmers. The combination of aforementioned factors is bolstering the growth of smart agriculture market.

Market Trends

A combination of factors including livestock biometrics, infrastructural sensors, agricultural robots, and cloud data-based services are some of the major trends in the global smart agriculture market. According to a recent report, in which 100 owners or managers of German farms were surveyed, satellite supported systems are already used by more than half of the respondents (58%). 14% plan their deployment. In 2016, a study commissioned by the digital association Bitkom and supported by the German Farmers’ Association DBV, in which 521 farmers and contractors were interviewed, shows that every second farmer and contractor uses digital technologies (54%).

Market Drivers

Based on the research findings of Alchemy Research and Analytics LLP, the major market drivers for smart agriculture are increasing adoption of advanced technologies such as sensors, livestock biometrics, and others especially in the developed economies which in turn are driving the growth of the market. According to Bitkom’s survey speaks of 37% of all farmers that already rely on robotics. According to the Bitkom study, automatic feeders are already used in every second farm (51%). According to the Kleffmann Group, sensor technology is currently only used in 15% of all farms surveyed. 47% of those surveyed, will not play a role in the near future. Drones, for monitoring the soil and vegetation development, on the other hand, are still rarely used and only 11% want to use drones in the medium-term.

Market Restraints

According to Alchemy Research and Analytics LLP, the global smart agriculture market restraints are development of the digital infrastructure – low network coverage in rural areas, standardization of interfaces, quality of algorithms used in farm/livestock management systems and media competence of the farmers. A major obstacle is poor network coverage in rural areas in most European countries. Without a powerful internet connection, the use of many systems and apps is hardly possible for farmers. So for new technologies in agriculture to move forward, it is crucial to have modern telecommunication infrastructure available.

Segment Insights

Alchemy Research and Analytics LLP have further taken into account the agriculture type segment analysis. Based on application, the global smart agriculture market is further segmented into precision aquaculture, precision forestry, livestock monitoring, precision farming, smart greenhouse, and others. The precision farming category dominated the market and accounted for the largest revenue share in 2019 contributing more than 35% of the global smart agriculture market revenue in 2019. This is can be associated with significant advantages of precision farming such as increased farm efficiency, and productivity among others. Besides, the increased use of technologies such as remote sensing, smart sensors, guidance technology, and drones among others are anticipated to further boost the growth of the segment.

Regional Insights

North America region is dominant in the global smart agriculture market. In 2019, North America accounted for a revenue share of more than 30% of the global smart agriculture market. This can be attributed to the region being one of the early adopters of advanced technologies. The U.S. dominated the North America smart agriculture market in 2019 and accounted for revenue share of more than 80% in the same year. The U.S. dominated the North America market and will continue this trend owing to the presence of large number of manufacturers in the region and growing awareness about the benefits of smart agriculture.

Asia Pacific is anticipated to witness significant growth during the years to come. Smart agriculture is in the early growth stage in this region, the developing government backing and rising awareness among farmers are anticipated to drive the regional demand over the forecast time frame. For instance, in Japan, the ministry of agriculture has been providing investment funds to boost precision farming in the nation.

Top Companies with Recent Development

Noticeable players within the Global Market

• Deere and Company
• Trimble Inc.
• Topcon Positioning Systems, Inc.
• DeLaval
• Antelliq Corporation
• Afimilk Agricultural Cooperative Ltd.
• AKVA Group
• InnovaSea Systems, Inc.
• Heliospectra
• LumiGrow, Inc.
• Treemetrics Ltd

The above mentioned major players for the global smart agriculture market are investing heavily in Research & Development to introduce new products and offers along with enhanced technology to increase their market share and geographical expansion. In addition, the global smart agriculture market players are concentrating on various strategies such as technological innovations, geographical expansion, acquisitions, strategic collaboration, strategic contracts, new product launches, and mergers to increase their market presence. For instance, DeLaval partnered with the Swedish University of Agricultural Sciences to install DeLaval VMS V300 at Lövsta research and education center. The company also gave access to the latest robotic technology and digital milk sampling equipment to SLU.

Report Scope by Market Segments

This report splits the world’s smart agriculture market revenue opportunities worldwide, regional, and national levels and gives a comprehensive research study of the most recent industry activities in each of the sub-segments throughout the forecast period. For the reason of this ponder, Alchemy Market Research has segmented the global smart agriculture market report on the premise of product type, application, and regional analysis:

By Offerings (Revenue in USD Billion)

• Hardware
• Software
• Services

By Agriculture Type (Revenue in USD Billion)

• Precision Farming
• Precision Forestry
• Livestock Monitoring
• Smart Greenhouse
• Precision Aquaculture
• Others

By Agriculture Application (Revenue in USD Billion)

• Precision Farming Application
• Precision Forestry Application
• Livestock Monitoring Application
• Smart Greenhouse Application
• Precision Aquaculture Application
• Others

By Farm Size (Revenue in USD Billion)

• Small Farm
• Medium Farm
• Large Farm

Regional Perspective (Revenue in USD Billion)

• North America
  • U.S.A
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Turkey
  • Rest of Middle East & Africa

This report answers key questions such as

• What are the challenges in the smart agriculture market?
• What are the factors anticipated to drive the smart agriculture market?
• What are trends, restraints, and challenges in the global smart agriculture market?
• Who are the potential customers of smart agricultures?
• Analysis of key strategies by key market players?
• Which region is growing rapidly?
• How do rapidly changing consumer perspectives will affect the smart agriculture market?
• How is the competitive environment?
• Comprehensive details of factors that will challenge the growth of the market pre & post Covid-19.
• How are collaborations evolving in the market?
• What is the customer sentiment about this market?
• What are the solutions to the challenges?
• What are the opportunities in this market?
• What are the key current & upcoming technological trends estimated to drive the markets?
• Regions & segment-wise analysis of how various industries will perform?
• Forecasts on how market drivers, restraints and future opportunities will affect the market dynamics?

Chapter 1.        Executive Summary

Chapter 2.        Market Introduction

Chapter 3.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – Key Industry Dynamics

3.1.   Key Market Drivers

3.2.   Key Market Restraints

3.3.   Market Opportunities

3.4.   Future Trends

3.5.   Impact Analysis of Drivers and Restraints

Chapter 4.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

Chapter 5.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – By Offerings

5.1.   Hardware

5.2.   Software

5.3.   Services

Chapter 6.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – By Agriculture Type

6.1.   Precision Farming

6.2.   Precision Forestry

6.3.   Livestock Monitoring

6.4.   Smart Greenhouse

6.5.   Precision Aquaculture

6.6.   Others

Chapter 7.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – By Agriculture Application

7.1.   Precision Farming Application

7.2.   Precision Forestry Application

7.3.   Livestock Monitoring Application

7.4.   Smart Greenhouse Application

7.5.   Precision Aquaculture Application

7.6.   Others

Chapter 8.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – By Farm Size

8.1.   Small Farm

8.2.   Medium Farm

8.3.   Large Farm

Chapter 9.        Global Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028 – By Region

9.1.   North America

9.2.   Europe

9.3.   Asia-Pacific

9.4.   Latin America

9.5.   Middle East & Africa

Chapter 10.    North America Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

10.1.            North America Smart Agriculture Market– By Offerings

10.1.1.    Hardware

10.1.2.    Software

10.1.3.    Services

10.2.            North America Smart Agriculture Market– By Agriculture Type

10.2.1.    Precision Farming

10.2.2.    Precision Forestry

10.2.3.    Livestock Monitoring

10.2.4.    Smart Greenhouse

10.2.5.    Precision Aquaculture

10.2.6.    Others

10.3.            North America Smart Agriculture Market– By Agriculture Application

10.3.1.    Precision Farming Application

10.3.2.    Precision Forestry Application

10.3.3.    Livestock Monitoring Application

10.3.4.    Smart Greenhouse Application

10.3.5.    Precision Aquaculture Application

10.3.6.    Others

10.4.            North America Smart Agriculture Market– By Farm Size

10.4.1.    Small Farm

10.4.2.    Medium Farm

10.4.3.    Large Farm

10.5.            North America Smart Agriculture Market– By Country

10.5.1. U.S.

10.5.2. Canada

Chapter 11.    Europe Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

11.1.            Europe Smart Agriculture Market– By Offerings

11.1.1.    Hardware

11.1.2.    Software

11.1.3.    Services

11.2.            Europe Smart Agriculture Market– By Agriculture Type

11.2.1.    Precision Farming

11.2.2.    Precision Forestry

11.2.3.    Livestock Monitoring

11.2.4.    Smart Greenhouse

11.2.5.    Precision Aquaculture

11.2.6.    Others

11.3.            Europe Smart Agriculture Market– By Agriculture Application

11.3.1.    Precision Farming Application

11.3.2.    Precision Forestry Application

11.3.3.    Livestock Monitoring Application

11.3.4.    Smart Greenhouse Application

11.3.5.    Precision Aquaculture Application

11.3.6.    Others

11.4.            Europe Smart Agriculture Market– By Farm Size

11.4.1.    Small Farm

11.4.2.    Medium Farm

11.4.3.    Large Farm

11.5.            Europe Smart Agriculture Market– By Country

11.5.1.    Germany

11.5.2.    France

11.5.3.    UK

11.5.4.    Spain

11.5.5.    Italy

11.5.6.    Rest of Europe

Chapter 12.    Asia Pacific Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

12.1.            Asia Pacific Smart Agriculture Market– By Offerings

12.1.1.    Hardware

12.1.2.    Software

12.1.3.    Services

12.2.            Asia Pacific Smart Agriculture Market– By Agriculture Type

12.2.1.    Precision Farming

12.2.2.    Precision Forestry

12.2.3.    Livestock Monitoring

12.2.4.    Smart Greenhouse

12.2.5.    Precision Aquaculture

12.2.6.    Others

12.3.            Asia Pacific Smart Agriculture Market– By Agriculture Application

12.3.1.    Precision Farming Application

12.3.2.    Precision Forestry Application

12.3.3.    Livestock Monitoring Application

12.3.4.    Smart Greenhouse Application

12.3.5.    Precision Aquaculture Application

12.3.6.    Others

12.4.            Asia Pacific Smart Agriculture Market– By Farm Size

12.4.1.    Small Farm

12.4.2.    Medium Farm

12.4.3.    Large Farm

12.5.            Asia-Pacific Smart Agriculture Market– By Country

12.5.1. China

12.5.2. India

12.5.3. Japan

12.5.4. South Korea

12.5.5. Rest of Asia-Pacific

Chapter 13.    Latin America Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

13.1.            Latin America Smart Agriculture Market– By Offerings

13.1.1.    Hardware

13.1.2.    Software

13.1.3.    Services

13.2.            Latin America Smart Agriculture Market– By Agriculture Type

13.2.1.    Precision Farming

13.2.2.    Precision Forestry

13.2.3.    Livestock Monitoring

13.2.4.    Smart Greenhouse

13.2.5.    Precision Aquaculture

13.2.6.    Others

13.3.            Latin America Smart Agriculture Market– By Agriculture Application

13.3.1.    Precision Farming Application

13.3.2.    Precision Forestry Application

13.3.3.    Livestock Monitoring Application

13.3.4.    Smart Greenhouse Application

13.3.5.    Precision Aquaculture Application

13.3.6.    Others

13.4.            Latin America Smart Agriculture Market– By Farm Size

13.4.1.    Small Farm

13.4.2.    Medium Farm

13.4.3.    Large Farm

13.5.            Latin America Smart Agriculture Market– By Country

13.5.1. Brazil

13.5.2. Mexico

13.5.3. Rest of Latin America

Chapter 14.    Middle East & Africa Smart Agriculture Market– Analysis and Revenue Forecast 2019-2028

14.1.            Middle East & Africa Smart Agriculture Market– By Offerings

14.1.1.    Hardware

14.1.2.    Software

14.1.3.    Services

14.2.            Middle East & Africa Smart Agriculture Market– By Agriculture Type

14.2.1.    Precision Farming

14.2.2.    Precision Forestry

14.2.3.    Livestock Monitoring

14.2.4.    Smart Greenhouse

14.2.5.    Precision Aquaculture

14.2.6.    Others

14.3.            Middle East & Africa Smart Agriculture Market– By Agriculture Application

14.3.1.    Precision Farming Application

14.3.2.    Precision Forestry Application

14.3.3.    Livestock Monitoring Application

14.3.4.    Smart Greenhouse Application

14.3.5.    Precision Aquaculture Application

14.3.6.    Others

14.4.            Middle East & Africa Smart Agriculture Market– By Farm Size

14.4.1.    Small Farm

14.4.2.    Medium Farm

14.4.3.    Large Farm

14.5.            Middle East & Africa Smart Agriculture Market– By Country

14.5.1. UAE

14.5.2. Saudi Arabia

14.5.3. Turkey

14.5.4. Rest of Middle East & Africa

Chapter 15.    Competitive Analysis

15.1.1. Competition Dashboard

15.1.2. Company Profiles

15.1.2.1.          Deere and Company

15.1.2.2.          Trimble Inc.

15.1.2.3.          Topcon Positioning Systems, Inc.

15.1.2.4.          DeLaval

15.1.2.5.          Antelliq Corporation

15.1.2.6.          Afimilk Agricultural Cooperative Ltd.

15.1.2.7.          AKVA Group

15.1.2.8.          InnovaSea Systems, Inc.

15.1.2.9.          Heliospectra

15.1.2.10.      LumiGrow, Inc.

15.1.2.11.      Treemetrics Ltd