Smart Farming Market Size to grow by USD 9909.2 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Smart Farming Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. In the agriculture sector, the integration of big data in smart farming is generating significant business opportunities. Advancements in wireless communication technology are enhancing agricultural productivity, enabling real-time monitoring and analysis of crop growth conditions. Functional safety and efficient repair and maintenance of farming equipment are further driving crop production levels. The implementation of GPS trackers and sensors facilitates granular data collection on soil conditions, wind patterns, fertilizer requirements, water availability, and pesticide needs. This data is transmitted to farmers, allowing them to make informed decisions and optimize their farming operations, resulting in increased efficiency and profitability. The global adoption rate of big data in smart farming is on the rise, making it a promising business trend in the agriculture industry.

Key Highlights

Growth Projections

The global smart farming market  size is estimated to grow by USD 9909.2 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 17.61% during the forecast period. Availability of low-cost cloud services encourages farmers to adopt smart farming is driving market growth, with a trend towards big data in smart farming  However, high initial investment in smart farming technology  poses a challenge.Key market players include Ag Leader Technology, AGCO Corp., Auroras Srl, Bacancy Technology Pvt. Ltd., Bayer AG, CNH Industrial N.V., Cropin Technology Solutions Pvt. Ltd., Cultyvate, Deere and Co., Digital Matter, DTN LLC, Farmers Edge Inc., Gamaya, Kubota Corp., PrecisionHawk Inc., Robert Bosch GmbH, Telit Cinterion, Topcon Positioning Systems Inc., Trimble Inc., and TSI Inc..

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Major Findings

• The proliferation of affordable cloud services has significantly influenced the agricultural sector, enabling farmers to embrace smart farming technologies. This cost-effective solution facilitates real-time data analysis, precision farming, and automated irrigation systems, ultimately enhancing crop yield and reducing resource wastage. Farmers can now make data-driven decisions, optimize their operations, and improve overall farm management through the use of these advanced technologies.


• Smart farming is an innovative approach to modern agriculture that enhances overall crop yield through the integration of technology and data analysis. By leveraging precision farming techniques, such as soil sensing, irrigation management, and crop monitoring, farmers can optimize resource usage and improve crop health, ultimately leading to increased productivity and profitability. This data-driven approach also allows for more efficient use of inputs, reducing environmental impact and promoting sustainable agriculture.


• Smart farming, which incorporates advanced technology to optimize agricultural processes, necessitates a significant upfront investment. This includes expenses for precision farming equipment, sensors, automation systems, and software solutions. The initial capital outlay can be substantial but is offset by increased efficiency, productivity, and sustainability in farming operations.


• The agricultural sector is witnessing a significant shift towards smart farming, which incorporates advanced technologies such as IoT, precision farming, and automation. However, the implementation of these technologies comes with an increasing generation of electronic waste (e-waste), posing environmental and health concerns. Producers and consumers must prioritize the responsible disposal and recycling of e-waste to mitigate potential risks and promote sustainable farming practices.

Market Research Overview

The global agricultural and farm machinery market encompasses businesses engaged in the manufacturing of agricultural and farm machinery, as well as associated components. This sector comprises a diverse range of equipment, including agricultural tractors, haying machinery, harvesting machinery, planting machinery, livestock machinery, spraying machinery, tillage machinery, and irrigation systems. According to Technavio, the market size is determined by the revenues generated by these manufacturers. Market expansion will be fueled by an escalating number of new product launches from industry players, who are continually broadening their offerings to cater to evolving agricultural demands.

The Smart Farming Market is experiencing significant growth, fueled by the Availability of low-cost cloud services encourages farmers to adopt smart farming. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

In the agricultural sector, Smart Farming is a burgeoning market that leverages technology to optimize resource utilization and enhance farming productivity. This includes the implementation of precision farming techniques, IoT sensors for real-time monitoring, and automated irrigation systems. By adopting smart farming solutions, businesses can reduce operational costs, improve crop yields, and ensure sustainable farming practices. The global smart farming market is projected to grow at a CAGR of 12.2% from 2021 to 2026, driven by increasing demand for food security and agricultural efficiency.

Research Analysis Overview

The Smart Farming Market is experiencing significant growth due to the integration of advanced technologies in agriculture. This market includes solutions for Smart Water Management, Supply Chain Management, Logistics, Supervisory Control, Agriculture Asset Management, Network Management, Professional Services, Managed Services, Connectivity Services, Maintenance, and Consulting. These solutions are often cloud-based or web-based, providing farmers with real-time access to data through online dashboards, PDF reports, and historical data. Smart farming practices incorporate Machine-to-Machine communication, mobile technology, agricultural robots, infrastructural health sensors, GPS, RFID, livestock biometrics, LED grow lights, and Controlled Environment Agriculture in commercial greenhouses. Prospera Technologies, for instance, offers dynamic solutions that use AI and computer vision to optimize crop yields and reduce water usage. System integration is crucial to ensure seamless communication between various farming technologies and systems. Overall, these innovations contribute to more efficient, sustainable, and profitable farming operations.

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