Smart Farming Market Size, Share, Growth, Trends, and Global Industry Analysis: By Farming Type (Pig Farming, Precision Farming, Livestock Monitoring, Fish Farming, Smart Greenhouse, and Others), By Software (Web Based and Cloud Based), By Services (System Integration and Consulting, Support and Maintenance, Connectivity Services, Managed Services, and Professional Services), By Solutions (Network Management, Agriculture Asset Management, Supervisory Control, and Data Acquisition, Logistics and Supply Chain Management, Smart Water Management, and Others), and By Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, Irrigation Management, Farm Labor Management, and Others) and Region

Smart Farming Market Size was valued at US$ 12.8 billion in 2023 and is poised to grow at a CAGR of 21.7 billion by 2030, growing at an 11.2% CAGR from 2024 to 2030. Smart farming is about using the innovative technologies that were developed during the Fourth Industrial Revolution in agriculture and cattle production to increase production quantity and quality, by making maximum use of resources and minimizing the environmental impact. Furthermore, farmers started adopting innovative technologies for the field with the support of IoT and artificial intelligence to monitor field and irrigation processes in the area, crop monitoring and pesticide control are also included, which helps farmers by contributing cost-effective technology and low human intervention. With the development of modernization and digitalization across the world agriculture is also adopting Smart farming techniques to control the irrigation of water, and pesticide flow to minimize the waste of resources.

In addition, the incorporation of smart tools provides better information regarding crop cutting boosts productivity, and lowers the cost of farming, these are the major factor that drives the smart farming market. The adoption of innovative smart tools fascinates farmers for maximum productivity, artificial intelligence takes farming to the hike by providing accurate weather forecasting, number of fertilizers, crop rotation, soil type, and nutrition in the crop, these tools result in various opportunities in the smart farming market. The significant restraints in the market are the high cost of equipment and technology and, the introduction of smart farming become difficult for emerging economic countries. 

Smart Farming Market Key Developments:

• In September 2022, Cropin will launch the world’s first industry cloud for smart agriculture. Cropin Cloud is an integrated platform of applications for digitization, clean and contextual data pipelines for enhanced decision-making based on data analytics, and globally proven crop-specific, crop, and geography-agnostic machine learning models.
• In August 2022, Farmers Edge Inc. launched DigiAg Risk Management (US), LLC Subsidiary, a wholly-owned subsidiary of Farmers Edge. Facing disruption head-on, DigiAg will work alongside insurers and agents to develop innovative crop protection solutions and unique coverage options to help protect American farmers from risk.
• In February 2020, Granular launched free “Granular Insights” an easy-to-use, free digital tool that delivers a clearer view of field-level profitability with close to zero effort. Insights replace manual spreadsheets by combining in near real-time, a farm’s multiple sources of operational data with estimated revenue and cost data, helping farmers reach decisions easier and faster.