This dossier presents information regarding smart agriculture. It presents a broad overview on smart farming market worldwide. It also follows up with smart farming applications such as Internet of Thing (IoT) and Artificial intelligence (AI), precision farming, and agri-robotics. Furthermore it includes data on the global ag-tech funding and investments.
Table of Contents
Market overview
Agriculture IoT
Artificial intelligence (AI) & Precision farming
Agricultural robots
Agtech funding
1. Market overview
Description: This statistic shows the market value of smart farming worldwide in 2017 and 2020, and provided a forecast for 2026. The global market size of smart agriculture is expected to grow from approximately 12.4 billion U.S. dollars in 2020 to 34.1 billion U.S. dollars by 2026.
Description: This statistic shows the market value forecast of smart agriculture worldwide in 2020 and 2026, by application. The global market size of precision agriculture was expected to grow from approximately 4.33 billion U.S. dollars in 2020 to about 12 billion U.S. dollars by 2026.
Description: Internet of Things (IoT) is the most influential agricultural tech innovation of 2022. IoT is a sensor that can monitor crops in real-time and offers farmers insights into crops that would have previously had to be collected manually. Robotics and artificial intelligence are the second and third most influential AG tech innovations of 2022, respectively.
Description: The total global market size for agriculture technology-as-a-service stood at about 1.1 billion U.S. dollars in 2020. Software-as-a-service is responsible for the majority of the market with 800.9 million U.S. dollars, a share of around 73 percent.
2. Agriculture IoT
Description: In 2021, the global agricultural industrial internet of things (IIoT) market value is expected to stand at approximately 4.02 billion U.S. dollars. The agricultural IIoT market is anticipated to grow over the next few years, reaching almost seven billion U.S. dollars by 2025, as smart farming is becoming widely adopted. The agricultural IIoT market consists of the following segments: Agricultural Management Platforms, Supply Chain & Inventory Management Solutions, GPS Services & Field Mapping Services, Agricultural Monitoring Services, and Micro-farming Solutions.
Description: In 2021, the global agricultural industrial internet of things (IIoT) market value is expected to stand at approximately 4.02 billion U.S. dollars, with 2.23 billion U.S. dollars coming from North America alone. The agricultural IIoT market, especially the North American regional market, is anticipated to grow over the next few years. The following segments are included in the market: Agricultural Management Platforms, Supply Chain & Inventory Management Solutions, GPS Services & Field Mapping Services, Agricultural Monitoring Services, and Micro-farming Solutions.
Description: The global market for agricultural sensors is expected to increase significantly by 2026. Sensors that have applications for water management and soil management are expected to more the double from 2021 to 2026, reaching a value of about 3.1 billion U.S. dollars and 3.98 billion U.S. dollars, respectively. Sensors for climate management are forecast to grow by almost 400 million U.S. dollars from 2020 to 2026.
Description: This statistic shows the size of the farm management software and services market worldwide in 2020 and 2026. In 2020, the global farm management software and services market was valued at one billion U.S. dollars worldwide, and is expected to grow to over five billion U.S. dollars. An increased demand for cloud services as well as government initiatives promoting improved farming practices and cost-effectiveness are contributing to market growth.
3. Artificial intelligence (AI) & Precision farming
Description: The value of artificial intelligence in the global agriculture market was estimated to be around one billion U.S. dollars in 2020 and is forecast to grow to about four billion U.S. dollars by 2026.
Description: Artificial intelligence is deployed in agriculture mainly in field, livestock, and indoor farming in 2019. Field farming is the main farming type where AI is used in agriculture, with a market share of more than 60%.
Description: This statistic shows the forecasted market value of precision farming worldwide from 2021 to 2027. The market value of precision farming is expected to grow from approximately seven billion U.S. dollars in 2021 to 14.5 billion U.S. dollars by 2027.
Description: This statistic represents the estimated size of the European precision farming market in 2021 and 2026. The European market for precision farming is expected to be sized at around 3.2 billion U.S. dollars by 2026.
4. Agricultural robots
Description: This time series represents the current and projected market volume for agricultural robots worldwide from 2020 to 2030. By 2030, the global agricultural robots market is expected to grow to around 36 billion units.
Description: This time series represents the current and projected market for agricultural robots worldwide from 2020 to 2025. By 2025, the global agricultural robots market is expected to grow to around 20.6 billion U.S. dollars.
Description: Shipments of agricultural robots were projected to reach 561,849 units by 2025. By that year, this market was expected to be worth around 20.6 billion U.S. dollars worldwide.
Description: This statistic represents the forecast global value for driverless tractors from 2020 to 2030. By 2030, the global value for driverless tractor robots is expected to grow to about 11.6 billion U.S. dollars.
5. Agtech funding
Description: In 2021, agriculture technology startup companies received funding of about 4.9 billion U.S. dollars, an increase from about 3.4 billion U.S. dollars in the previous year.
Description: In the U.S., the number of agricultural technology (AgTech) deals has been increasing each year from 2017 to 2021. In 2017, there were only 267 AgTech deals. Over the next four years, the number of deals increased by over 170, reaching 440 by 2021.
Description: From 2018 to 2020, the capital funding for agricultural technology (AG tech) increased by about six billion U.S. dollars. The number of deals each year also increased from1,450 to 2,707 during this time period. It is likely that the capital funding and number of deals will also surpass the 2020 values after the second half of the year.
Description: The value of direct investments of sovereign wealth funds (SWFs) worldwide in climate change-related sectors increased overall between 2015 and 2020, despite some fluctuations. As of 2020, SWFs’ direct investments in the agritech, forestry, and renewables sectors stood at almost 2.5 billion U.S. dollars, a sharp increase compared to the previous year. In all years, renewables accounted for the large majority of SWFs’ green investments.
Source from Statista
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