Smart Agriculture & Farming Market Size, Share, Growth, and Industry Analysis, By Type (Hardware, Software, and Services), By Application (Precision Farming, Livestock Monitoring, and Smart Greenhouse), Regional Insights and Forecast From 2025 To 2034

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SMART AGRICULTURE AND FARMING MARKET OVERVIEW

The global smart agriculture and farming market size is projected at USD 11.08 billion in 2025 and is anticipated to reach USD 25.06 billion by 2034, registering a CAGR of 9.5% during the forecast period from 2025 to 2034.

Smart agriculture and farming also called precision agriculture, refers to the utilization of sophisticated technologies and data analysis to enhance agricultural methods, minimize waste, improve efficiency, and increase crop productivity. It encompasses the collection of information from multiple sources such as sensors, satellite images, crop models, and weather predictions to make well-informed decisions on various aspects of farming, including pest control, fertilization, irrigation, planting, and harvesting. The goal of smart agriculture is to optimize the overall sustainability, productivity, and efficiency of agriculture.

The market is predicted to escalate with an extensive CAGR in the future due to the growing global population, increasing demand for food, and the need for more sustainable farming practices. Besides, advancements in technologies such as the Internet of Things (IoT), big data analytics, artificial intelligence (AI), and cloud computing have enabled the development of precision agriculture solutions that can collect and analyze data to improve farming practices. Additionally, the market is dived by type, by application, and regional expansion of the market. In terms of by type, hardware, software, and services are being provided by numerous companies. While, precision farming, livestock monitoring, and smart greenhouse are popular application segment to raise the demand for smart technology in the agriculture industry around the world. 

KEY FINDINGS

COVID-19 IMPACT

Pandemic Disrupts Production & Supply Chains Due To Lockdown Restrictions

In the beginning, the COVID-19 pandemic disrupted the supply chains of the smart agriculture and farming market. The shutdown of factories and transportation restrictions have led to delays in the production and delivery of agricultural technologies and decreased demand from certain sectors such as the hospitality industry has also impacted the market. Nevertheless, it has also spiked the demand for food as people stockpile and panic buys in response to lockdowns and supply chain disruptions. Resulted, this has led to an increased demand for agricultural products and it could potentially drive investments in smart agriculture solutions to increase productivity and meet demand.

LATEST TRENDS

Trend of Robotics and Automation in Agriculture Industry Amplify Market Opportunities

The smart agriculture and farming market is constantly evolving, with new technologies and trends emerging to improve agricultural practices. AI and machine learning is gaining traction in the agricultural industry. The adoption of AI and machine learning is increasing in the smart agriculture and farming market that consenting for better predictions and analysis of data from sensors and other sources to optimize farming practices. Additionally, the use of robotics and automation in agriculture is also growing, with machines performing tasks such as planting, harvesting, and sorting crops, which reduce labour costs and improve efficiency and which is also expected to contribute to advanced farming solutions which in turn will accelerate the smart agriculture & farming market growth during the forecast 2034.

• According to the Food and Agriculture Organization (FAO), nearly 80% of new farm equipment sold in developed countries in 2021 integrated precision farming technologies, including sensors and IoT tools.

• The U.S. Department of Agriculture (USDA) reported that over 60,000 farms in the United States adopted drone technology for crop monitoring and spraying in 2022, marking a clear trend toward smart farming practices.

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SMART AGRICULTURE AND FARMING MARKET SEGMENTATION

By Type

According to type, the market can be bifurcated into Hardware, Software, and Services.

By Application

Based on application, the market can be divided into Precision Farming, Livestock Monitoring, and Smart Greenhouse.

DRIVING FACTORS

Mounting Demand for Food Upsurges the Demand for Smart Farming Solutions

Increasing demand for food is one of the leading factors to escalate market growth. As the global population continues to grow, there is a corresponding increase in the demand for food. Thus, smart agriculture solutions help farmers to increase crop yields and reduce waste, which can help to meet this demand in the future.

Growing Need for More Sustainable Farming Practices Lift the Market Growth

The rising need for more sustainable farming practices is also propelling the demand for smart agriculture and farming solutions. The environmental impact of traditional farming practices has become a growing concern, and there is increasing pressure on farmers to adopt more sustainable practices. Therefore, smart agriculture solutions can help to reduce the use of resources such as water and fertilizers and minimize waste.

• As per the World Bank, global food demand is projected to rise by 70% by 2050, which is pushing the adoption of smart farming to improve crop yield and resource efficiency.

• According to the European Commission, digital farming solutions can reduce fertilizer usage by up to 20% and increase yields by 15%, which is a key factor encouraging large-scale adoption.

RESTRAINING FACTORS

High Investment Costs & Lack of Awareness Could Limit the Market Expansion

Despite the rapid growth of the market, some present challenges can restrict the development of this industry. As. the adoption of smart agriculture solutions often requires a high initial investment in technology and infrastructure, which can be a barrier for small farmers or those with limited financial resources. As well as, several farmers may not be aware of the benefits of smart agriculture solutions, or may not have the knowledge or skills required to implement them effectively which can also confine the adoption of these advanced solutions. 

• The International Telecommunication Union (ITU) highlights that around 2.6 billion people worldwide lacked access to the internet in 2023, restricting the adoption of connected farming technologies in rural areas.

• According to the World Bank, about 26% of farmers in low-income countries have access to formal financing, creating a barrier for investing in smart agriculture equipment.

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SMART AGRICULTURE AND FARMING MARKET REGIONAL INSIGHTS

North America Leads the Market with a High Level of Technological Development in Agriculture

In terms of market shares, currently, North America is the dominating region in the smart agriculture and farming market. In addition to this, the U.S. is the leading country in the region to contribute to raise the demand for smart farming solutions across the world. The high level of technological development, coupled with a supportive regulatory environment and strong private investment, has helped to drive growth of the market in the region. The increasing demand for food and the need for sustainable agriculture practices are also the aiding market. Furthermore, the majority of the smart agriculture & farming market shares are held by the region which serves it to lead the market globally.

KEY INDUSTRY PLAYERS

Leading Companies offer Innovative Solutions to Farmers to Gain a Competitive Edge

About key players, distinguished companies excite the market as they provide a range of solutions such as precision farming equipment, sensors, software, and analytics tools. Also, they are continuously innovating and investing in research and development to offer new and advanced solutions to farmers. Additionally, partnerships and collaborations among major brands are common, as they seek to integrate and offer more comprehensive and effective solutions to the market. Some of the leading companies such as Ag Leader Technology, AgJunction, Inc., AGCO Corporation, Agribotix LLC, Argus Control Systems Ltd., Autonomous Solutions, and so on, are recognized for their highest profit revenue in the international marketplace. 

• Ag Leader Technology: According to company data, Ag Leader has deployed over 100,000 precision farming displays worldwide, supporting farmers in improving planting and harvesting efficiency.

• AgJunction: As per company reports, AgJunction holds more than 200 precision agriculture patents and provides GPS and auto-steering solutions across over 30 countries.

List of Top Smart Agriculture and Farming Companies

• Ag Leader Technology
• AgJunction, Inc.
• AGCO Corporation
• Agribotix LLC
• Argus Control Systems Ltd.
• Autonomous Solutions, Inc.
• BouMatic Robotic B.V.
• CropMetrics LLC
• CNH Industrial
• CLASS
• CropZilla Software, Inc.
• DICKEY-john Corporation
• Drone Deploy
• DeLaval International AB
• Deere and Company
• Farm Edge, Inc.
• Grownetics, Inc.
• GEA Group
• Gamaya
• Granular, Inc.
• Raven Industries, Inc.
• SST Development Group, Inc.
• Trimble, Inc.
• The Climate Corporation
• Topcon Corporation

REPORT COVERAGE

This report defines the smart agriculture & farming market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.