The global agriculture soil sampling and testing market was valued at $3.76 billion in 2022 and is anticipated to reach $5.79 billion by 2028, witnessing a CAGR of 7.65% during the forecast period 2023-2028.
Carbon neutral farming is a sustainable agricultural practice that aims to minimize carbon dioxide (CO2) emissions and offset any remaining emissions through carbon sequestration. This innovative approach not only helps combat climate change but also enhances soil health, promotes biodiversity, and supports local communities.
The global smart weed control market, valued at $842.7 million in 2022, is expected to reach $2,460.8 million by 2028, exhibiting a robust CAGR of 18.23% during the forecast period (2023-2028).
The report includes a detailed analysis of greenhouse gas emissions associated with agricultural activities starting from crop production to harvesting, livestock production, and forestry, encompassing sources, trends, and the impacts of climate change.
The global electric farm tractor market was valued at $98.7 million in 2022 and is expected to reach $234.0 million by 2028, growing at a CAGR of 14.06% between 2023 and 2028.
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The global smart crop scouting and smart spraying market was valued at $3.47 billion in 2022, which is expected to grow with a CAGR of 18.78% and reach $9.86 billion by 2028.
The global satellite imaging for agriculture market was valued at $516.1 million in 2022, and it is expected to grow with a CAGR of 7.50% during the forecast period 2023-2028 to reach $785.3 million by 2028.
The report entails the impact of the EU Green Deal and the subsequent policies, such as the Farm to Fork Strategy, on the smart agriculture sector of the countries.
The global artificial intelligence in agriculture market was valued at $1,517.0 million in 2022 and is expected to reach $4,096.1 million in 2027, following a CAGR of 21.98% during 2022-2027.
The global autonomous agriculture equipment market was valued at $10.71 billion in 2022 and is expected to reach $28.54 billion in 2027, following a CAGR of 21.65% during 2022-2027.
The global precision irrigation market was valued at $2,238.7 million in 2022 and is forecast to reach $4,471.2 million by 2027 at a CAGR of 14.84%.
The global agriculture sensors market was valued at $3,599.5 million in 2022 and is expected to reach $7,598.6 million in 2027, following a CAGR of 16.12% during 2022-2027.
The global agriculture technology-as-a-service (ATaaS) market was valued at $1,606.9 million in 2022 and is expected to reach $3,438.6 million in 2027, with a CAGR of 16.43% during 2022-2027.
The global farm management software and data analytics market was valued at $3.56 billion in 2022, which is expected to grow with a CAGR of 15.39% and reach $7.28 billion by 2027.
The global smart farming market was valued at $15.06 billion in 2022 and is expected to reach $33.0 billion in 2027, following a CAGR of 16.99% during 2022-2027.
The global precision agriculture market was valued at $7.89 billion in 2022 and is expected to reach $14.61 billion in 2027, following a CAGR of 13.12% during 2022-2027.
The Europe smart farming market was valued at $3,993.7 million in 2022 and is expected to reach $8,420.6 million in 2027, following a CAGR of 16.09% during 2022-2027.
The global agriculture drones and robots market was valued at $5.37 billion in 2021, which is expected to grow with a CAGR of 20.74% and reach $16.12 billion by 2027.
The global precision pest management market was valued at $1,748.4 million in 2021 and is expected to reach $4,396.3 million by 2027, following a CAGR of 16.43% during 2022-27.
The global augmented reality in agriculture market was valued at $0.84 million in 2021 and is projected to reach $4.89 million by 2027, growing at a CAGR of 34.49% during the forecast period 2022-2027.
The global smart harvest market was valued at $8,380.0 million in 2021 and is projected to reach $16,850.0 million by 2027, growing at a CAGR of 12.50% during the forecast period 2022-2027.
The smart vineyard management market was valued at $1.21 billion in 2021 and is projected to reach $2.15 billion by 2027, growing at a CAGR of 10.08% during the forecast period 2022-2027.
The global agriculture autonomous robots market was valued at $3.92 billion in 2021 and is projected to reach $10.50 billion in 2027, growing at a CAGR of 19.16% during the forecast period 2022-2027.
The global variable rate technology market was valued at $2.02 billion in 2021, and it is expected to grow with a CAGR of 20.28% during the forecast period 2022-2027 to reach $6.09 billion by 2027.
The harvesting equipment market is expected to grow from $22.42 billion in the year 2021 to $30.11 billion by 2027, at a CAGR of 5.08% from 2022 to 2027.
The global smart crop monitoring market was valued at $1.92 billion in 2021, which is expected to grow with a CAGR of 12.75% and reach $3.95 billion by 2027.
The global smart irrigation controllers market was valued at $588.47 million in 2021, which is expected to grow with a CAGR of 13.98% and reach $1,280.81 million by 2027.
The global smart irrigation market accounted for $1.3 billion in 2020 and is expected to grow with a CAGR of 13.69% and reach $2.7 billion by 2026.
The global IoT in agriculture market was valued at $21.99 billion in 2021, which is expected to grow with a CAGR of 10.1% and reach $35.55 billion by 2026.
The global blockchain in agriculture and food market was valued at $139.6 million in 2020, which is expected to grow with a CAGR of 51.0% and reach $1,488.0 million by 2026.
The global electric farm tractor market was valued at $116.5 million in 2020, which is expected to grow with a CAGR of 11.1% and reach $218.9 million by 2026.
The global powered agriculture market was valued at $57.39 billion in 2021, which is expected to grow with a CAGR of 5.02% and reach $73.32 billion by 2026.
The global artificial intelligence in agriculture market is expected to reach $6,655.1 million by 2026, with a CAGR of 30.56% during the forecast period 2021-2026.
The global agriculture technology-as-a-service market is expected to reach $3,031.1 million by 2026, with a CAGR of 24.42% during the forecast period 2021-2026.
The global agricultural sensors market was valued at $4.18 billion in 2020, which is expected to grow with a CAGR of 15.4% and reach $9.79 billion by 2026.
The global precision agriculture market is expected to reach $10.93 billion by 2026, with a CAGR of 14.8% during the forecast period 2021-2026.
The global digital agriculture marketplace market was valued at $10.00 billion in 2020 and is projected to reach $22.88 billion in 2026, following a CAGR of 15.0% during the forecast period 2021-2026.
The global farm management software and data analytics market is expected to reach $5.26 billion by 2026, with a CAGR of 18.55% during the forecast period 2021-2026.
The smart farming market is expected to reach $34.1 billion by 2026, with a CAGR of 18.5% during the forecast period 2021-2026.
The Europe ISOBUS component market is expected to reach $209.29 million by 2026, with a CAGR of 7.36% during the forecast period 2021- 2026.
The global farm equipment rental market is expected to reach $46.28 billion by 2026, with a CAGR of 6.63% during the forecast period 2021-2026.
The global autonomous agriculture equipment market is expected to reach $28.90 billion by 2026, with a CAGR of 10% during the forecast period 2021-2026.
The global hyperspectral imaging in agriculture market is expected to reach $56.88 million by 2026, with a CAGR of 11.93% during the forecast period 2021-2026.
The global agriculture drones and robots market is expected to reach $30.08 billion by 2026, with a CAGR of 22.3% during the forecast period 2021-2026.
The AR in agriculture market is expected to reach $4.43 million by 2026, with a CAGR of 37.4% during the forecast period 2021-2026.
The global ISOBUS component market is expected to reach $976.71 million by 2026, with a CAGR of 8.91% during the forecast period 2021- 2026.
The global agriculture technology-as-a-service market is projected to grow from $1,101.6 million in 2020 to $3,089.8 million by 2025, at a CAGR of 22.91% from 2020 to 2025.
The global farm management software and data analytics market is projected to grow from $1.06 billion in 2020 to $4.31 billion by 2025, at a CAGR 32.32% from 2020 to 2025.
The powered agriculture equipment market is projected to grow from $63.49 billion and 2,202.5 thousand units in the year 2019 to $70.08 billion and 2,337.1 thousand units by 2025.
The precision agriculture market is projected to grow from $5,068.6 million in 2019 to $11,106.7 million by 2025.
The GIS software in agriculture industry analysis by BIS Research projects the market to grow at a significant CAGR of 10.41% during the forecast period from 2019 to 2024.
The Global Smart Irrigation Controllers Market Analysis by BIS Research projects the market to grow at a significant CAGR of 15.0% during the forecast period from 2019 to 2024.
The Global Artificial Intelligence (AI) in Agriculture Market Analysis by BIS Research projects the market is anticipated to reach $3,807.3 million by 2024.
The Global Agriculture Technology-as-a-Service Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 21.75% during the forecast period from 2019 to 2024.
The agriculture drones and robots market is projected to grow from $2,525.2 million in 2018 to $23,060.8 million by 2028, at a CAGR 24.76% from 2018 to 2028.
The powered agriculture equipment market is projected to grow from 2,238,127 units in the year 2018 to 2,714,433 units by 2023, at a CAGR 3.93% from 2018 to 2023.
Farm management software and services have applications covering most of the farming types including precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others (forestry and orchids).
In 2017, the Americas farm management software and services market was valued at $628.5 million. The market is projected to grow from $740.9 million in the year 2018 to $1,686.4 million by 2023, at a CAGR of 17.88% from 2018 to 2023.
The IoT in agriculture market is projected to grow from $14.78 billion in the year 2018 to $28.65 billion by 2023, growing at a CAGR of 14.15% from 2018 to 2023.
The global blockchain in agriculture and food market is expected to grow from $41.9 million in the year 2018 to $1,442.9 million by 2028, at a CAGR 42.45% from 2018 to 2028.
The Americas smart farming market is projected to grow from $4.92 billion in the year 2018 to $11.93 billion by 2023 at a CAGR 19.39% from 2018 to 2023.
The Europe smart farming market is expected to grow from $3,076.0 million in the year 2018 to $7,200.4 million by 2023, with a CAGR of 18.54% from 2018 to 2023.
The precision agriculture market is projected to grow from $4.29 billion in the year 2018 to $10.55 billion by 2025, growing at a CAGR of 13.70% from 2018 to 2025.
The smart farming market is projected to grow from $9,575.3 million in the year 2017 to $23,139.5 million by 2022, at a CAGR 19.3% from 2017 to 2022.
The farm management software and services market is expected to reach $2,883.4 million by 2021, at a CAGR of 17.6% from 2017 to 2021. This growth is attributed to the increasing awareness among governments about the need to produce more food while taking care about the environment.
Food security is a major issue in the present global scenario, and especially so due to the increasing population day by day. Numerous research studies have discovered that the current food production volume needs to be doubled in order to suffice for the needs of the current burgeoning population. Furthermore, owing to the fact that natural resources such as land, water and labor are limited, agr
The agricultural robots market is expected to grow from $1.63 billion in the year 2015 to $3.65 billion by 2022, at a CAGR of 12.2% from 2015 to 2022.
A strong emphasis on sustainable development due to the environmental issues has led to a global emergence of precision agriculture technologies. The market is estimated to reach $7.6 billion by 2022 at a CAGR of 12.7% through the forecast period. Increasing global demand for food, economic boom in APAC regions, and emerging technologies are some of the reasons responsible for the growth of this m
The agriculture equipments and machineries have become an indispensable part of the agriculture process, by helping to save capital, labor, and time. This considerable role of agriculture equipments in ensuring sustainable food production has led to the growth of the market, and is further estimated to grow at a CAGR of 2.3% by 2022.
The precision irrigation market size in terms of value was $795.62 million in 2014 and is expected to reach $1,238.02 million by 2020 at a CAGR of 7.2%.
Precision Farming is an area of farming techniques associated with management of variability of soil, nutrients, water, crop and environmental factors. In conventional agriculture practices, fields subject to farming are considered to be uniform and thus applied with uniform rates of agrochemicals and fertilizers. The world population is estimated to hit the 9 billion mark by the year 2050.
The global electric farm tractor market was valued at $116.5 million in 2020, which is expected to grow with a CAGR of 11.1% and reach $218.9 million by 2026.
The global artificial intelligence in agriculture market is expected to reach $6,655.1 million by 2026, with a CAGR of 30.56% during the forecast period 2021-2026.
The global agriculture technology-as-a-service market is expected to reach $3,031.1 million by 2026, with a CAGR of 24.42% during the forecast period 2021-2026.
The global agricultural sensors market was valued at $4.18 billion in 2020, which is expected to grow with a CAGR of 15.4% and reach $9.79 billion by 2026.
The global precision agriculture market is expected to reach $10.93 billion by 2026, with a CAGR of 14.8% during the forecast period 2021-2026.
The global farm management software and data analytics market is expected to reach $5.26 billion by 2026, with a CAGR of 18.55% during the forecast period 2021-2026.
The smart farming market is expected to reach $34.1 billion by 2026, with a CAGR of 18.5% during the forecast period 2021-2026.
The global autonomous agriculture equipment market is expected to reach $28.90 billion by 2026, with a CAGR of 10% during the forecast period 2021-2026.
The global agriculture drones and robots market is expected to reach $30.08 billion by 2026, with a CAGR of 22.3% during the forecast period 2021-2026.
The AR in agriculture market is expected to reach $4.43 million by 2026, with a CAGR of 37.4% during the forecast period 2021-2026.
The powered agriculture equipment market is projected to grow from 2,238,127 units in the year 2018 to 2,714,433 units by 2023, at a CAGR 3.93% from 2018 to 2023.
The Global Agriculture Technology-as-a-Service Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 21.75% during the forecast period from 2019 to 2024.
The Global Artificial Intelligence (AI) in Agriculture Market Analysis by BIS Research projects the market is anticipated to reach $3,807.3 million by 2024.
The Global Smart Irrigation Controllers Market Analysis by BIS Research projects the market to grow at a significant CAGR of 15.0% during the forecast period from 2019 to 2024.
The precision agriculture market is projected to grow from $5,068.6 million in 2019 to $11,106.7 million by 2025.
The powered agriculture equipment market is projected to grow from $63.49 billion and 2,202.5 thousand units in the year 2019 to $70.08 billion and 2,337.1 thousand units by 2025.
The global farm management software and data analytics market is projected to grow from $1.06 billion in 2020 to $4.31 billion by 2025, at a CAGR 32.32% from 2020 to 2025.
The global agriculture technology-as-a-service market is projected to grow from $1,101.6 million in 2020 to $3,089.8 million by 2025, at a CAGR of 22.91% from 2020 to 2025.
The AR in agriculture market is expected to reach $4.43 million by 2026, with a CAGR of 37.4% during the forecast period 2021-2026.
The global agriculture drones and robots market is expected to reach $30.08 billion by 2026, with a CAGR of 22.3% during the forecast period 2021-2026.
The global autonomous agriculture equipment market is expected to reach $28.90 billion by 2026, with a CAGR of 10% during the forecast period 2021-2026.
The smart farming market is expected to reach $34.1 billion by 2026, with a CAGR of 18.5% during the forecast period 2021-2026.
The global electric farm tractor market was valued at $116.5 million in 2020, which is expected to grow with a CAGR of 11.1% and reach $218.9 million by 2026.
The global farm management software and data analytics market is expected to reach $5.26 billion by 2026, with a CAGR of 18.55% during the forecast period 2021-2026.
The global precision agriculture market is expected to reach $10.93 billion by 2026, with a CAGR of 14.8% during the forecast period 2021-2026.
The global agricultural sensors market was valued at $4.18 billion in 2020, which is expected to grow with a CAGR of 15.4% and reach $9.79 billion by 2026.
The global artificial intelligence in agriculture market is expected to reach $6,655.1 million by 2026, with a CAGR of 30.56% during the forecast period 2021-2026.
The global agriculture technology-as-a-service market is expected to reach $3,031.1 million by 2026, with a CAGR of 24.42% during the forecast period 2021-2026.
AgriTech
The historical crop yield of most major crops around the world, indicates that agritech market numbers are not as high as they should be to fulfill the demand for grains at present and in near future. Advancements in the agricultural equipment market and events like the green movement have enabled our society to feed a rapidly growing population to a certain extent only.
The agritech market includes the involvement of technological advancements and machine tools for increasing the crop yield. This improved crop yield may helped in fulfilling the demand till date, however, the agriculture industry is now facing brand new challenges, ones that have never been encountered in the past. Naturally, overcoming these challenges will require solutions that are highly advanced and require superior innovations increase productivity of the agriculture market.
Companies operating in the agritech market are continuously striving to deliver innovative solutions to control cost and increase revenue in agritech. BIS Research agricultural equipment market intelligence teams have been closely monitoring the innovations in the field of agriculture technology for several years now.
BIS Research is also actively investigating upcoming technological advancements occurring in the field of agritech. These advancements range from technology-as-a-service, plant genomics, powered agriculture, precision agriculture, and smart irrigation controllers, among others. BIS Research also take an in-depth look at the economics behind these innovations and offer insight into their effectiveness, sustainability, profitability, and viability. If the agritech market is an area of interest, these reports will provide a variety of insight to business organizations and help gain perspective of the market.
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