Smart farming: market size by type worldwide 2021 & 2027

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This statistic shows the market value forecast of smart agriculture worldwide in 2021 and 2027, by application. The global market size of precision agriculture was expected to grow from approximately over six billion U.S. dollars in 2021 to about 16 billion U.S. dollars by 2027.

Market value forecast of smart farming worldwide in 2021 and 2027, by application (in billion U.S. dollars)

Characteristic	2021	2027*
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Release date

July 2023

More information

Region

Worldwide

Survey time period

2022

Supplementary notes

* Estimated.
**Forecast.
Smart farming types include precision crop farming, livestock monitoring and management, aquaculture, and others (forestry and orchids).
The source adds the following information: "The smart farming market encompasses a wide array of solutions such as hardware systems, software, and services.

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