**With 9.5% CAGR, Smart Agriculture Market Size Worth $13.1 Billion by 2027**

The global **Smart Agriculture Market** is currently valued at $13.1 billion in 2022 and is expected to reach a valuation of $20.8 billion by 2027 growing at a CAGR of 9.5%. The adoption of advanced technologies such as internet of things (IoT), ML (Machine Learning), GPS (Global Positioning System), GIS (Global Information System), and other technologies has drastically enhanced productivity, reduced the cost of production, and preserve the health of the soil in the long run.

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**Report Coverage:**

**The report:** “Smart Agriculture Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Smart Agriculture Market Industry.

**By Type:** Precision Farming, Livestock, Aquaculture, Greenhouse, and others.

**By Offering:** Software (Remote monitoring, data analytics, Supply Chain Management, Quality Assurance, Data Management and others) , Hardware( Soil Sensors, Nutrient Sensors, Moisture Sensors, Light Sensors, HVAC, Displays, Antennas, Receivers, LED lights, Valves and Pumps and others).

**By Farm Size:** Small, Medium, and Large.

**By Geography:** North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others) and RoW (Middle East, Africa)

**Key Takeaways:**

* Precision farming will be the fastest-growing segment with a CAGR of 10.25% in the Smart Agriculture market due to efficient water usage, ability to collect real-time data on crop variables, and reduction in herbicide/fertilizer application which will encourage their widespread adoption.

* APAC region holds the largest market share at 33% due to rapid technological advancement, increased adoption of techniques such as data analysis and AI to enhance productivity, and high population owing to the presence of countries such as India and China.

* Software will be the fastest-growing segment by offering in this market due to the integration of cloud and web-based software in agricultural tools and management of the huge amount of agri-data that is being accumulated in the cloud.

**Smart Agriculture Market Segment Analysis- By Type:** The Smart Agriculture market can be classified into many segments according to types such as Precision Farming, Livestock farming, Aquaculture, Greenhouse, and others. Among them, Precision Farming will have the fastest growth at a CAGR of 10.25% in the forecast period of 2022-2027.


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**Smart Agriculture Market Segment Analysis- By Offering:** Software will be the fastest growing segment in this sector which will grow at a CAGR of 10.86% in the forecast period. Ease of integration of software in agri tools, reduction in labour costs and real-time data collection are some of the major factors that are driving the growth of software in the Smart Agriculture market.

**Smart Agriculture Market Segment Analysis- By Geography:** The Smart Agriculture market in the APAC region will account for the highest share at 33% in 2021. The factors that are propelling the growth of the Smart Agriculture market in APAC are increasing population, climate change, and water scarcity.

**Smart Agriculture Market Landscape:**

Product launches, collaborations, and R&D activities are key strategies adopted by players in the Smart Agriculture System market. The top 10 companies in the Smart Agriculture market are:

1. AFIMILK LTD.
1. AGJUNCTION INC
1. AGCO CORPORATION
1. AGEAGLE AERIAL SYSTEMS INC.
1. DEERE&COMPANY
1. DELAVAL INC.
1. LUMIGROW INC.
1. RAVEN INDUSTRIES INC
1. TOPCON POSITIONING SYSTEMS INC.
1. RIMBLE INC.

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