The Asia-Pacific (APAC) smart farming market is projected to reach $29.87 billion by 2034, growing at a CAGR of 19.98% from 2024 to 2034. The market is driven by the increasing adoption of precision farming, IoT, AI, and robotics in agriculture. The growing need for sustainable farming practices and food security is also driving the market. APAC countries such as China, Japan, South Korea, and India are investing heavily in agritech breakthroughs and encouraging the use of smart farming solutions.
The market is segmented into precision farming, livestock monitoring, and aquaculture applications. Hardware and software products used in smart farming include sensors, drones, satellite imaging, and farm management software. Key players in the market include KUBOTA Corporation and Eruvaka Technologies Pvt. Ltd.
The report highlights the market dynamics, including drivers, challenges, and opportunities. The market is driven by the increasing need for sustainable agricultural practices and the growing adoption of precision agriculture. However, lack of technical expertise among farmers and rising concern over data security are challenges that the market faces. The report also provides a competitive benchmarking of the market and includes company profiles of key players.