NORTH AMERICA SMART AGRICULTURE MARKET FORECAST 2022-2030
The North America smart agriculture market is set to project a CAGR of 9.13% during the forecast period, 2022-2030, and is anticipated to reach a revenue of $11176.38 million by 2030.
NORTH AMERICA SMART AGRICULTURE MARKET FORECAST 2022-2030
North America Smart Agriculture Market by Type (Precision Farming, Livestock Monitoring, Precision Aquaculture, Smart Greenhouse) Market by Component (Solution, Service, Connectivity Technology) by Geography
The North America smart agriculture market is set to project a CAGR of 9.13% during the forecast period, 2022-2030, and is anticipated to reach a revenue of $11176.38 million by 2030.
The smart agriculture market growth in North America is attributed to the presence of prominent producers of agricultural equipment, including Massey Ferguson, AGCO, and John Deere. They integrate different digital technologies and offer solutions for smart farming and precision agriculture. Also, several farms use digital technologies, propelling the adoption of smart farming and precision agriculture in the region.
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However, the North America smart agriculture market growth is restrained by climate change vulnerability of agriculture, shifting agroecosystem boundaries, and invasive pests.
The North America smart agriculture market growth assessment includes the evaluation of Canada and the United States. In the United States, as per a recent survey by the USDA Economic Research Service, there were 2.01 million farms in 2021, with 895 million acres of land in farms and the average farm size at 445 acres. Also, the USDA is prioritizing enhancing agricultural production in the country by 40% and minimizing environmental impact by 50% by 2050. In addition, the government announced its strategy for sustainable agriculture. Accordingly, the USDA announced investment under the National Institute of Food and Agriculture (NIFA) Sustainable Agriculture System program, under which around $146 million in sustainable agriculture research projects will improve and build the climate-smart food and agriculture system.
Furthermore, the country’s agriculture sector also encompasses a range of farm-related industries. For instance, in 2020, agriculture, food, and related industries accounted for $1.055 trillion of the US gross domestic product (GDP). As a result, such factors, alongside the abundance of government initiatives and agriculture activities, contribute to the growing demand for smart agriculture activities in the US.
The North America smart agriculture market scope includes component and type. The component segment includes solution, service, and connectivity technology. The solution segment is further sub-segmented into software and hardware. The software segment includes irrigation management, smart water management, agriculture asset management, and network management.
Software, with regard to agriculture, addresses various networking areas and aids users in taking action through the embedded system, partner system, middleware, and IoT platform. It manages data filtering of integrated devices, light data security measurement, and sensing to the IoT network. Also, it ensures network stability and cooperation between the devices. In addition, the data is taken as input by the software and converted into clear patterns, charts, and bar graphs for analysis.
A network management system enables network administrators to manage the independent components of a network infrastructure. It manages multiple servers installed in an open area, supplementing their efficient operation. Whereas agriculture asset management uses advanced technologies to meet the rising crop demands. In addition, the increasing government support for agriculture and crop insurance facilitates price and yield protection.
Furthermore, smart water management for agriculture is central to raising crop yield and minimizing costs while contributing to environmental sustainability. In addition, the use of technologies enables the use of the precise t amount of water needed by the plant. For instance, the Internet of Things (IoT) is emerging as an ideal choice for smart water management, given its high-performance computing resources in commodity platforms and the availability of cloud data centers for processing and storage.
Some of the key firms in the North America smart agriculture market include DeLaval, LumiGrow Inc, InnovaSea Systems Inc, Deere & Company, etc.
LumiGrow is a US-based company that offers adjustable spectrum LEDs and smart lighting for greenhouse and farming setups. Several of the globally leading commercial horticulture and research institutions have deployed LumiGrow LED lighting strategies in place of traditional static LEDs and HID lighting. The company has its headquarters in Vallejo Street, Emeryville.
Report Synopsis
|
Report Scope |
Details |
| Market Forecast Years | 2022-2030 |
| Base Year | 2021 |
| Market Historical Years | 2018-2021 |
| Forecast Units | Revenue ($ Million) |
| Segments Analyzed | Type, Component |
| Countries Analyzed | The United States, Canada |
| Companies Analyzed |
Afimilk Ltd, AGCO Corporation, AgEagle Aerial Systems Inc, AgJunction, Aker Technologies Inc, AKVA, Deere & Company, DeLaval, InnovaSea Systems Inc, LumiGrow Inc, MSD Animal Health (Merck & Co), Raven Industries, SemiosBio Technologies Inc, The Climate Corporation (Bayer AG), Topcon Positioning Systems Inc, Trimble Inc |
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- KEY DRIVERS
- GROWING POPULARITY OF AUTOMATION IN AGRICULTURE
- EXPANSION OF CORPORATE FARMING WORLDWIDE
- ADVANCEMENTS AND INNOVATIONS IN AGRICULTURAL TECHNOLOGY
- FAVORABLE GOVERNMENT INITIATIVES
- KEY RESTRAINTS
- HIGH COSTS OF MODERN AGRICULTURAL EQUIPMENT
- LACK OF SKILLED OPERATORS
- KEY DRIVERS
- KEY ANALYTICS
- IMPACT OF COVID-19 ON SMART AGRICULTURE MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- KEY BUYING CRITERIA
- DATA ANALYSIS
- CONNECTIVITY
- DATA SECURITY
- DATA COLLECTION FREQUENCY
- REGULATORY FRAMEWORK
- MARKET BY TYPE
- PRECISION FARMING
- LIVESTOCK MONITORING
- PRECISION AQUACULTURE
- SMART GREENHOUSE
- MARKET BY COMPONENT
- SOLUTION
- HARDWARE
- HVAC SYSTEMS
- LED GROW LIGHTS
- VALVES & PUMPS
- SENSORS & CONTROL SYSTEMS
- OTHER HARDWARE
- SOFTWARE
- NETWORK MANAGEMENT
- AGRICULTURE ASSET MANAGEMENT
- SMART WATER MANAGEMENT
- IRRIGATION MANAGEMENT
- SERVICE
- CONSULTING
- SYSTEM INTEGRATION AND DEPLOYMENT
- SUPPORT AND MAINTENANCE
- CONNECTIVITY TECHNOLOGY
- CELLULAR IOT
- LORA
- NB-IOT
- GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS)
- WI-FI
- SIGFOX
- WIRELINE
- WIRELESS PERSONAL AREA NETWORK (WPAN)
- OTHER CONNECTIVITY TECHNOLOGIES
- HARDWARE
- SOLUTION
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- NORTH AMERICA
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- COMPANY PROFILES
- AFIMILK LTD
- AGCO CORPORATION
- AGEAGLE AERIAL SYSTEMS INC
- AGJUNCTION
- AKER TECHNOLOGIES INC
- AKVA
- DEERE & COMPANY
- DELAVAL
- INNOVASEA SYSTEMS INC
- LUMIGROW INC
- MSD ANIMAL HEALTH (MERCK & CO)
- RAVEN INDUSTRIES
- SEMIOSBIO TECHNOLOGIES INC
- THE CLIMATE CORPORATION (BAYER AG)
- TOPCON POSITIONING SYSTEMS INC
- TRIMBLE INC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – SMART AGRICULTURE
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: NORTH AMERICA SMART AGRICULTURE MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 4: NORTH AMERICA SMART AGRICULTURE MARKET, BY TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 5: NORTH AMERICA SMART AGRICULTURE MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 6: NORTH AMERICA SMART AGRICULTURE MARKET, BY COMPONENT, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 7: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOLUTION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 8: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOLUTION, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 9: NORTH AMERICA SMART AGRICULTURE MARKET, BY HARDWARE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 10: NORTH AMERICA SMART AGRICULTURE MARKET, BY HARDWARE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 11: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOFTWARE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 12: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOFTWARE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 13: NORTH AMERICA SMART AGRICULTURE MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 14: NORTH AMERICA SMART AGRICULTURE MARKET, BY SERVICE, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 15: NORTH AMERICA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 16: NORTH AMERICA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 17: NORTH AMERICA SMART AGRICULTURE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)
TABLE 18: NORTH AMERICA SMART AGRICULTURE MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)
TABLE 19: LEADING PLAYERS OPERATING IN NORTH AMERICA SMART AGRICULTURE MARKET
TABLE 20: LIST OF MERGERS & ACQUISITIONS
TABLE 21: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 22: LIST OF PARTNERSHIPS & AGREEMENTS
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: KEY BUYING CRITERIA
FIGURE 6: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021
FIGURE 7: NORTH AMERICA SMART AGRICULTURE MARKET, BY PRECISION FARMING, 2022-2030 (IN $ MILLION)
FIGURE 8: NORTH AMERICA SMART AGRICULTURE MARKET, BY LIVESTOCK MONITORING, 2022-2030 (IN $ MILLION)
FIGURE 9: NORTH AMERICA SMART AGRICULTURE MARKET, BY PRECISION AQUACULTURE, 2022-2030 (IN $ MILLION)
FIGURE 10: NORTH AMERICA SMART AGRICULTURE MARKET, BY SMART GREENHOUSE, 2022-2030 (IN $ MILLION)
FIGURE 11: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2021
FIGURE 12: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOLUTION, 2022-2030 (IN $ MILLION)
FIGURE 13: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SOLUTION, IN 2021
FIGURE 14: NORTH AMERICA SMART AGRICULTURE MARKET, BY HARDWARE, 2022-2030 (IN $ MILLION)
FIGURE 15: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY HARDWARE, IN 2021
FIGURE 16: NORTH AMERICA SMART AGRICULTURE MARKET, BY HVAC SYSTEMS, 2022-2030 (IN $ MILLION)
FIGURE 17: NORTH AMERICA SMART AGRICULTURE MARKET, BY LED GROW LIGHTS, 2022-2030 (IN $ MILLION)
FIGURE 18: NORTH AMERICA SMART AGRICULTURE MARKET, BY VALVES & PUMPS, 2022-2030 (IN $ MILLION)
FIGURE 19: NORTH AMERICA SMART AGRICULTURE MARKET, BY SENSORS & CONTROL SYSTEMS, 2022-2030 (IN $ MILLION)
FIGURE 20: NORTH AMERICA SMART AGRICULTURE MARKET, BY OTHER HARDWARE, 2022-2030 (IN $ MILLION)
FIGURE 21: NORTH AMERICA SMART AGRICULTURE MARKET, BY SOFTWARE, 2022-2030 (IN $ MILLION)
FIGURE 22: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SOFTWARE, IN 2021
FIGURE 23: NORTH AMERICA SMART AGRICULTURE MARKET, BY NETWORK MANAGEMENT, 2022-2030 (IN $ MILLION)
FIGURE 24: NORTH AMERICA SMART AGRICULTURE MARKET, BY AGRICULTURE ASSET MANAGEMENT, 2022-2030 (IN $ MILLION)
FIGURE 25: NORTH AMERICA SMART AGRICULTURE MARKET, BY SMART WATER MANAGEMENT, 2022-2030 (IN $ MILLION)
FIGURE 26: NORTH AMERICA SMART AGRICULTURE MARKET, BY IRRIGATION MANAGEMENT, 2022-2030 (IN $ MILLION)
FIGURE 27: NORTH AMERICA SMART AGRICULTURE MARKET, BY SERVICE, 2022-2030 (IN $ MILLION)
FIGURE 28: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2021
FIGURE 29: NORTH AMERICA SMART AGRICULTURE MARKET, BY CONSULTING, 2022-2030 (IN $ MILLION)
FIGURE 30: NORTH AMERICA SMART AGRICULTURE MARKET, BY SYSTEM INTEGRATION AND DEPLOYMENT, 2022-2030 (IN $ MILLION)
FIGURE 31: NORTH AMERICA SMART AGRICULTURE MARKET, BY SUPPORT AND MAINTENANCE, 2022-2030 (IN $ MILLION)
FIGURE 32: NORTH AMERICA SMART AGRICULTURE MARKET, BY CONNECTIVITY TECHNOLOGY, 2022-2030 (IN $ MILLION)
FIGURE 33: NORTH AMERICA SMART AGRICULTURE MARKET, GROWTH POTENTIAL, BY CONNECTIVITY TECHNOLOGY, IN 2021
FIGURE 34: NORTH AMERICA SMART AGRICULTURE MARKET, BY CELLULAR IOT, 2022-2030 (IN $ MILLION)
FIGURE 35: NORTH AMERICA SMART AGRICULTURE MARKET, BY LORA, 2022-2030 (IN $ MILLION)
FIGURE 36: NORTH AMERICA SMART AGRICULTURE MARKET, BY NB-IOT, 2022-2030 (IN $ MILLION)
FIGURE 37: NORTH AMERICA SMART AGRICULTURE MARKET, BY GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS), 2022-2030 (IN $ MILLION)
FIGURE 38: NORTH AMERICA SMART AGRICULTURE MARKET, BY WI-FI, 2022-2030 (IN $ MILLION)
FIGURE 39: NORTH AMERICA SMART AGRICULTURE MARKET, BY SIGFOX, 2022-2030 (IN $ MILLION)
FIGURE 40: NORTH AMERICA SMART AGRICULTURE MARKET, BY WIRELINE, 2022-2030 (IN $ MILLION)
FIGURE 41: NORTH AMERICA SMART AGRICULTURE MARKET, BY WIRELESS PERSONAL AREA NETWORK (WPAN), 2022-2030 (IN $ MILLION)
FIGURE 42: NORTH AMERICA SMART AGRICULTURE MARKET, BY OTHER CONNECTIVITY TECHNOLOGIES, 2022-2030 (IN $ MILLION)
FIGURE 43: NORTH AMERICA SMART AGRICULTURE MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)
FIGURE 44: UNITED STATES SMART AGRICULTURE MARKET, 2022-2030 (IN $ MILLION)
FIGURE 45: CANADA SMART AGRICULTURE MARKET, 2022-2030 (IN $ MILLION)
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- MARKET SIZE & ESTIMATES
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY PLAYERS
- COUNTRY ANALYSIS
- UNITED STATES
- CANADA
- NORTH AMERICA
- MARKET BY TYPE
- PRECISION FARMING
- LIVESTOCK MONITORING
- PRECISION AQUACULTURE
- SMART GREENHOUSE
- MARKET BY COMPONENT
- SOLUTION
- HARDWARE
- HVAC SYSTEMS
- LED GROW LIGHTS
- VALVES & PUMPS
- SENSORS & CONTROL SYSTEMS
- OTHER HARDWARE
- SOFTWARE
- NETWORK MANAGEMENT
- AGRICULTURE ASSET MANAGEMENT
- SMART WATER MANAGEMENT
- IRRIGATION MANAGEMENT
- SERVICE
- CONSULTING
- SYSTEM INTEGRATION AND DEPLOYMENT
- SUPPORT AND MAINTENANCE
- CONNECTIVITY TECHNOLOGY
- CELLULAR IOT
- LORA
- NB-IOT
- GLOBAL NAVIGATION SATELLITE SYSTEM (GNSS)
- WI-FI
- SIGFOX
- WIRELINE
- WIRELESS PERSONAL AREA NETWORK (WPAN)
- OTHER CONNECTIVITY TECHNOLOGIES
- HARDWARE
- SOLUTION
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