Smart Agriculture Market Detailed Study Analysis with Forecast by 2031

Jul 01, 2022

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The value of the global smart agriculture market stood at US$ 10.02 Bn in 2020. The global market is estimated to rise at a CAGR of 13.30%during the forecast period, from 2021 to 2031.The global smart agriculture market is likely to surpass valuation of US$ 39.02 Bn by 2031. Farmers' abilities to respond to substantial changes in humidity, weather, and air quality are improving, as IoT technology becomes more widely adopted in the agriculture industry.

Companies in the smart agriculture market are developing next-generation manure cleaning systems that use robotic technology to increase comfort of cows. These smart devices also assist in improving their hoof health without the need of water. Smartphone firms are collaborating to develop a new smart agriculture as a service solution that will use sensor technologies to boost the output of Indian farmers.

New precision agriculture applications are being released by key participants in the global smart agriculture market to assist in collecting precise data irrespective of the machine type or breadth of the equipment.

During the projected timeframe, North America is estimated to hold major share of the global smart agriculture market, owing to increase in the number of agricultural start-ups in Canada and the U.S., which help to offer better services to customers. The existence of notable smart agriculture companies in North America is another element likely to add to the regional supremacy. As a result, North America is projected to drive the global smart agriculture market in the years to come.

Growing usage of smartphones in agriculture aids in increasing deployment of numerous types of software and hardware applications in the agricultural business. This factor is contributing to the agriculture industry's increasing demand for smartphones, which is further expected to drive the global market.
Innovations in linked technologies such as Zigbee, WiFi, as well as other wireless communication technologies enable farmers to undertake a variety of agricultural tasks such as inventory management, purchasing, and harvesting, thereby reducing manual labor in the process
The global smart agriculture market is expected to grow in the near future due to the burgeoning demand for high quality food products and greater food production by using advanced technologies in the agriculture industry
High deployment of the IoT technology aids farmers' responsiveness toward substantial changes in the climate. It also helps in driving automation in conventional farming activities through different data analytics, management, and visualization systems &solutions.

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