Global Smart Agriculture Market to Reach $25.4 Billion by 2028, Fueled by Increasing Global Population and Adoption of Modern Technologies
The global smart agriculture market is poised for significant growth, projected to reach USD 25.4 billion by 2028, with a CAGR of 9.4% from 2023 to 2028, as per latest estimates.
- The global smart agriculture market is poised for significant growth, projected to reach USD 25.4 billion by 2028, with a CAGR of 9.4% from 2023 to 2028, as per latest estimates.
- The market growth is driven by factors such as the increasing global population, which exerts pressure on the food supply system, and the shortage of skilled labor in the agriculture industry.
- The precision farming segment is expected to lead the smart agriculture market during the forecast period, fueled by the rapid adoption of state-of-the-art technologies and innovative devices to cultivate high-yield crops.
- Geographically, the Americas held the largest share of the overall smart agriculture market in 2022, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).