Smart agriculture market to exceed $60.9 bln by 2034

due to population growth, labor shortages, and the need to adapt to climate change. Governments and industry stakeholders are implementing innovative strategies to address these issues. By 2050, the world population is expected to exceed 9 billion, increasing food demand by 60%. Meeting this demand will require substantial improvements in agricultural productivity, where smart solutions play a crucial role. In 2024, the crop cultivation segment accounted for 61% of the market, with an expected CAGR of 10.6% from 2025 to 2034, driven by technologies such as remote sensing, precision irrigation, and real-time soil monitoring. The smart agriculture equipment segment alone was valued at $14.1 billion in 2024, with projected annual growth of 10.9%, as farmers increasingly adopt connected machinery powered by sensors, robotics, and artificial intelligence. Leading players in the global smart agriculture market include John Deere & Company, holding a 15% market share, along with CNH ...