GITNUX MARKETDATA REPORT 2024

Smart Agriculture Industry Statistics

The smart agriculture industry is expected to grow rapidly, driven by increasing adoption of advanced technologies such as IoT sensors, drones, and AI in farming practices.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the rapidly evolving landscape of the smart agriculture industry, backed by a collection of compelling statistics that shed light on the market’s growth trajectory and key sector insights. From the projected market size to regional trends and technological advancements, these data points offer valuable insights into the future landscape of smart agriculture. Let’s dive in.

Statistic 1

"By 2025, the global smart agriculture market size is expected to reach $15.3 billion."

Statistic 2

"The smart agriculture market is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2020 to 2027."

Statistic 3

"In 2019, precision farming held the largest share (49%) of the smart agriculture market."

Statistic 4

"Automation and robotics is expected to show the fastest CAGR in the smart agriculture market from 2020-2025."

Statistic 5

"North America held the largest share (over 40%) of the smart agriculture market in 2020."

Statistic 6

"Fish farming is expected to be the fastest growing sector in the smart agriculture industry from 2021-2026, with a CAGR of 17.7%."

Statistic 7

"In 2019, livestock monitoring held the highest market share in the smart agriculture market at 52%."

Statistic 8

"Large farms are expected to account for more than 60% of the smart agriculture market by 2025."

Statistic 9

"Vegetable farming in the smart agriculture market is expected to grow at a CAGR of 14.1% from 2020 to 2026."

Statistic 10

"By 2025, the Asia-Pacific region is expected to grow at the highest CAGR in the smart agriculture market."

Statistic 11

"The use of Artificial Intelligence in the smart agriculture market is expected to reach $4 billion by 2026."

Statistic 12

"Europe's smart agriculture market was valued at $1.76 billion in 2019."

Statistic 13

"Hardware products dominated the global market in 2019 with more than 80% of the total revenue."

Statistic 14

"In 2018, software solutions accounted for around 38% of the smart agriculture market."

Statistic 15

"Latin America's smart agriculture market is projected to reach $1.76 billion by 2025."

Statistic 16

"The application of smart sensors in agriculture is projected to grow at a CAGR of 13.4% from 2020 to 2026."

Statistic 17

"The precision farming sector within the smart agriculture market is expected to reach $12 billion by 2026."

Statistic 18

"The yield monitoring application of smart agriculture is predicted to have the smallest growth at a CAGR of 8.4% from 2020-2027."

The statistics in the smart agriculture industry indicate a promising future with continued growth and innovation. Precision farming currently holds a significant market share, while automation and robotics are poised for rapid expansion. North America leads in market share, but the Asia-Pacific region is expected to see the highest CAGR. Various sectors such as fish farming and vegetable farming are projected to experience substantial growth. The use of Artificial Intelligence and smart sensors is on the rise, with hardware products dominating revenue. Overall, the smart agriculture market is forecasted to reach substantial values by 2025, showcasing the industry’s potential for development and technological advancement.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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