The global smart agriculture market is expected to grow at 10% CAGR from 2023 to 2029, reaching above USD 21.12 billion by 2029 from USD 19.31 billion in 2022. This growth is attributed to supportive government initiatives, innovations and advancements in agricultural technology, expanding corporate farming, and the rising popularity of automation in agriculture. Rising population pressure on the food supply system is also driving market growth. However, lack of connected devices used in the agriculture sector creates disruptions in communication between the developer and the farmer, negatively impacting the growth of the smart agriculture market.
