Smart agriculture is used to enhance agricultural productivity, address agricultural-based issues, such as food demand, and make farms more connected and intelligent. The market value of smart agriculture worldwide is expected to grow from approximately 15 billion U.S. dollars in 2022 to 33 billion U.S. dollars by 2027.
Funding for agricultural technology is important to combat many problems farmers may face, such as pests and weather problems. Agritech can also help cultivate crops in climates that are not traditionally as suitable for agriculture. Total global funding for agritech more than tripled between 2017 and 2021, exceeding 53 billion U.S. dollars. Funding dropped again in 2022, reaching about 30 billion dollars. Among European countries, the United Kingdom invested the most into agri-food technology, followed by France and Germany.
Smart equipment and artificial intelligence
Drones have been a very popular tool in agritech to help farmers survey crops, take photos, and collect data. Drones for agricultural use make up 11 percent of the global drone market. The market values for all applications of smart crop monitoring are expected to increase by 2027. Automation and robotics are forecast to exceed 1.1 billion U.S. dollars.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.