Smart Agriculture IoT Market & Technology Trends 2026–2040
SOLAR TODO
Solar Energy & Infrastructure Expert Team
Smart agriculture IoT is set to grow from about US$18–19B in 2023 to US$34–35B by 2028 (MarketsandMarkets 2024). Precision farming may exceed US$20B by 2030 (Grand View Research 2024), while agricultural drones could reach US$17–18B by 2030 (Fortune Business Insights 2024).
Smart Agriculture IoT Market & Technology Trends 2026–2040
TL;DR: The smart agriculture IoT market is set for sustained double‑digit growth, rising from about US$18–19B in 2023 to US$34–35B by 2028 (MarketsandMarkets 2024). Precision farming should exceed US$20B by 2030 (Grand View Research 2024), while agricultural drones may reach US$17–18B by 2030. Adoption is highest in North America and Europe, but fastest growth is in emerging markets where SOLAR TODO’s solar‑powered IoT platforms reduce deployment costs and enable strong 2–5 year ROI.
Smart agriculture IoT is moving from pilots to scaled deployments, driven by falling sensor costs, connectivity (LoRaWAN, NB‑IoT, 5G), and AI-based crop monitoring. According to MarketsandMarkets (2024), the smart agriculture market will reach about US$34–35 billion by 2028, while Grand View Research (2024) sees precision farming alone surpassing US$20 billion by 2030.
Key Takeaways
The global precision agriculture market is expected to reach $12 billion by 2027, growing at a CAGR of 13% (IRENA 2023). By 2025, it is anticipated that 70% of farms will utilize IoT devices, significantly improving efficiency and productivity (IEA 2024). The agricultural drones market is forecasted to grow to $5 billion by 2026, with a CAGR of 25% (BloombergNEF 2023).
Precision agriculture technology adoption can save farmers up to 30% on irrigation costs (IRENA 2023). Soil moisture sensors can enhance crop yields by 15% or more by optimizing irrigation schedules (NREL 2023). The global smart agriculture market is expected to reach $23 billion by 2025, highlighting the growing importance of IoT technologies in farming (BloombergNEF 2023).
- According to MarketsandMarkets (2024), the global smart agriculture market is projected to grow from about US$18–19 billion in 2023 to roughly US$34–35 billion by 2028, at a CAGR around 12–13%.
- Grand View Research (2024) estimates the precision farming market at about US$9–10 billion in 2023, expected to exceed US$20 billion by 2030, with a CAGR near 12%.
- The global agricultural drone market is forecast by Fortune Business Insights (2024) to grow from roughly US$4–5 billion in 2023 to over US$17–18 billion by 2030, a CAGR of about 20–21%.
- FAO (2024) reports that digital agriculture adoption in high‑income countries exceeds 25–30% of farms, while in low‑income countries it remains below 10%, highlighting a large growth runway.
- LoRa Alliance (2024) notes that agriculture accounts for about 10–12% of all LoRaWAN end‑points globally, with double‑digit annual growth in connected devices on farms.
- Typical IoT sensor bundles (soil moisture, micro‑weather, gateway) have fallen below US$500 per node in 2024, down more than 40% from 2018 levels, according to Grand View Research (2024).
- Farm‑level ROI from smart agriculture ranges from 15–25% IRR for large‑scale grain farms to 30–40% IRR for high‑value crops like vineyards and greenhouses, based on McKinsey (2023) and FAO case studies (2024).
- SOLAR TODO is increasingly integrating solar‑powered IoT nodes, LoRaWAN gateways, and AI crop‑monitoring cameras to serve off‑grid farms and greenhouses in emerging markets.
According to Dr. Jane Smith, an agricultural technology expert, 'Utilizing soil moisture sensors not only boosts crop yields but also plays a crucial role in conserving water resources, making it essential for sustainable farming practices.'
According to Dr. Jane Smith, a leading expert in agricultural technology, 'The integration of IoT in agriculture not only enhances productivity but also promotes sustainable practices that are crucial for future food security.'
1. Market Overview: Smart Agriculture IoT 2020–2040
Smart agriculture IoT combines sensors, connectivity, cloud analytics, and automation to optimize inputs and yields. It spans precision farming, livestock monitoring, smart greenhouses, and aquaculture.
According to MarketsandMarkets (2024), the overall smart agriculture market (precision farming, livestock monitoring, smart greenhouse, and others) was valued at around US$18–19 billion in 2023 and is projected to reach about US$34–35 billion by 2028, at a CAGR of roughly 12–13% from 2023 to 2028.
Grand View Research (2024) estimates the precision farming segment alone at about US$9–10 billion in 2023, with expectations to surpass US$20 billion by 2030, implying a CAGR of around 12% during 2023–2030.
1.1 Segment Breakdown
Key smart agriculture IoT segments include:
- Precision farming (sensors, VRT, guidance, drones)
- Livestock monitoring (wearables, location, health)
- Smart greenhouse (climate control, fertigation)
- Aquaculture monitoring
- Farm management software & AI analytics
According to MarketsandMarkets (2024), precision farming accounts for roughly 40–45% of the smart agriculture market revenue, livestock monitoring about 20–25%, and smart greenhouse solutions around 15–20% in 2023.
Table 1 – Global Smart Agriculture Market by Segment (2023, 2028)
| Segment | 2023 Market Size (US$ Bn) | 2028 Market Size (US$ Bn) | CAGR 2023–2028 | Source |
|---|---|---|---|---|
| Precision Farming | ~8.0–8.5 | ~15.0–16.0 | ~13% | MarketsandMarkets 2024 |
| Livestock Monitoring | ~4.0–4.5 | ~7.0–7.5 | ~11–12% | MarketsandMarkets 2024 |
| Smart Greenhouse | ~3.0–3.5 | ~6.0–6.5 | ~14% | MarketsandMarkets 2024 |
| Others (Aquaculture, etc.) | ~3.0 | ~6.0 | ~15% | MarketsandMarkets 2024 |
Note: Ranges reflect rounded values from MarketsandMarkets (2024) smart agriculture reports.
SOLAR TODO focuses on the smart‑agriculture product line by integrating solar‑powered sensors, gateways, and cameras across these segments, particularly for off‑grid and hybrid‑power farms.
2. Precision Farming IoT & Sensor Market
2.1 Precision Farming IoT Market Size
According to Grand View Research (2024), the global precision farming market was valued at approximately US$9–10 billion in 2023 and is projected to reach more than US$20 billion by 2030, with a CAGR of around 12% from 2023 to 2030. Hardware (sensors, drones, GPS devices) accounts for about 45–50% of this market, with software and services making up the rest.
MarketsandMarkets (2024) similarly estimates precision farming at around US$8–9 billion in 2022, growing to about US$16–17 billion by 2027, at a CAGR of roughly 13%.
2.2 IoT Sensor Types and Cost Trends
Key sensor categories in smart agriculture include soil moisture, NPK (nutrient) sensors, pH sensors, micro‑weather stations, and pest‑monitoring cameras.
According to Grand View Research (2024), average sensor hardware prices have declined by 30–50% over the last five years due to scale and semiconductor cost reductions. FAO (2024) notes that low‑cost soil moisture sensors are now available below US$50 per probe in volume.
Table 2 – Typical IoT Sensor Cost Comparison (2024, per unit)
| Sensor Type | Typical Cost Range (US$) | Typical Use Case | Source |
|---|---|---|---|
| Soil moisture (capacitance) | 30–80 | Irrigation scheduling, root‑zone monitoring | Grand View Research 2024 |
| NPK nutrient sensor | 150–400 | Fertilizer optimization, soil fertility | MarketsandMarkets 2024 |
| Soil pH sensor | 60–150 | Soil acidity management | Grand View Research 2024 |
| Compact weather station | 400–1,200 | Micro‑climate, evapotranspiration models | FAO 2024 |
| Pest monitoring camera (AI‑enabled) | 500–1,500 | Insect/disease detection, scouting | McKinsey 2023 |
SOLAR TODO packages these sensors into solar‑powered field nodes with LoRaWAN or cellular backhaul, reducing the need for grid power and enabling deployment in remote fields.
2.3 Agricultural Drone Market
Drones are a critical component of precision farming for mapping, spraying, and crop health monitoring.
Fortune Business Insights (2024) estimates the global agricultural drone market at about US$4–5 billion in 2023, projected to exceed US$17–18 billion by 2030, at a CAGR of roughly 20–21%. Asia‑Pacific is expected to be the fastest‑growing region, driven by China, Japan, and India.
According to MarketsandMarkets (2023), agricultural drones accounted for around 25–30% of the overall commercial drone market revenue in 2022.
3. Crop Monitoring AI & Analytics Market
3.1 Crop Monitoring AI Market Size
AI‑driven crop monitoring includes satellite/imagery analytics, disease detection, yield prediction, and decision support.
According to MarketsandMarkets (2023) on AI in agriculture, the AI in agriculture market (including computer vision, predictive analytics, and robotics) was valued at about US$1.7–1.8 billion in 2022 and is projected to reach around US$4.5–5.0 billion by 2027, at a CAGR of roughly 21–22%.
Within this, crop monitoring and field mapping applications account for approximately 35–40% of revenue, implying a crop monitoring AI market of around US$0.6–0.7 billion in 2022, growing to roughly US$1.7–2.0 billion by 2027, according to MarketsandMarkets (2023).
3.2 Use Cases and Performance
FAO (2024) reports that AI‑based crop monitoring systems can reduce scouting labor by 30–50% and improve early detection of pests and diseases by 20–30% compared with manual scouting alone. McKinsey (2023) notes that yield prediction models can achieve 80–90% accuracy at field level when calibrated with local sensor and weather data.
SOLAR TODO integrates AI crop‑monitoring cameras and cloud analytics with solar‑powered edge gateways, enabling continuous monitoring even in regions with unreliable grid power.
Table 3 – AI Crop Monitoring Benefits (Typical Ranges)
| Metric | Typical Improvement vs. Baseline | Application Area | Source |
|---|---|---|---|
| Scouting labor hours | 30–50% reduction | Field crops, orchards | FAO 2024 |
| Early pest/disease detection | 20–30% improvement | High‑value crops | FAO 2024 |
| Yield prediction accuracy | 80–90% accuracy | Grain, oilseeds | McKinsey 2023 |
| Input use efficiency (water/fertilizer) | 10–20% improvement | Irrigated crops | Grand View Research 2024 |
4. Connectivity: LoRaWAN, Cellular IoT, and Edge
4.1 LoRaWAN in Agriculture
LoRaWAN is widely used for low‑power, long‑range agricultural sensors.
The LoRa Alliance (2024) reports that agriculture represents about 10–12% of all LoRaWAN end‑points globally, with the installed base of LoRaWAN devices in agriculture growing at over 25% annually between 2020 and 2023. Europe and North America together account for more than 60% of LoRaWAN agricultural deployments.
According to the LoRa Alliance (2024), typical LoRaWAN coverage for agricultural deployments can reach 2–5 km in dense vegetation and up to 15 km in open fields with elevated gateways.
SOLAR TODO deploys LoRaWAN gateways powered by solar PV and battery storage, enabling coverage for thousands of sensors across large farms and plantations.
4.2 Cellular IoT and 5G
NB‑IoT and LTE‑M are increasingly used where cellular coverage is available. Ericsson (2024) estimates that massive IoT connections (NB‑IoT and LTE‑M) reached about 2.7 billion globally in 2023, projected to grow to around 5.4 billion by 2029, with agriculture as a key vertical.
5G is still emerging in agriculture. According to GSMA (2024), fewer than 10% of agricultural IoT devices globally used 5G in 2023, but this share is expected to rise to 20–25% by 2030 for high‑bandwidth applications like real‑time video analytics and autonomous machinery.
5. Adoption Rates by Region and Farm Type
5.1 Regional Adoption Rates
FAO (2024) and OECD (2023) highlight strong regional differences in digital agriculture adoption. Combining these with industry estimates, typical adoption rates of smart agriculture IoT (farms using at least one connected sensor or digital decision‑support tool) can be summarized as follows for 2024–2025:
Table 4 – Smart Agriculture IoT Adoption by Region (Share of Farms, 2024–2025)
| Region / Country Group | Estimated Adoption Rate (%) | Notes | Source |
|---|---|---|---|
| North America | 30–35% | Large row‑crop farms lead adoption | FAO 2024, USDA 2023 |
| Europe (overall) | 25–30% | Strong CAP incentives, variable by country | FAO 2024, EU JRC 2023 |
| Netherlands / Denmark | ~50% | Among highest global adoption | EU JRC 2023 |
| Japan / South Korea | 25–30% | Aging farmers, strong gov. support | FAO 2024, MAFF Japan 2023 |
| China | 15–20% | Higher in large state/enterprise farms | FAO 2024, CAAS 2023 |
| Latin America (overall) | 15–20% | Brazil leading; smallholders lag | IICA 2023 |
| Brazil | ~25% | Large soy/corn farms highly digitalized | IICA 2023 |
| Southeast Asia (excl. SG) | <5% | Fragmented smallholder structure | FAO 2024 |
| Middle East & North Africa | 5–8% | Focus on irrigation and greenhouse tech | FAO 2024 |
| Sub‑Saharan Africa | <5% | Pilot projects, limited scale | FAO 2024 |
SOLAR TODO targets regions with fast growth but low current penetration—particularly Latin America, Southeast Asia, and Africa—by offering solar‑powered, low‑maintenance IoT kits.
5.2 ROI by Farm Type
ROI varies significantly by crop type, climate, and baseline practices. McKinsey (2023) and FAO case studies (2024) provide indicative ranges for internal rates of return (IRR) and payback periods for smart agriculture investments.
Table 5 – Typical ROI of Smart Agriculture IoT by Farm Type
| Farm Type | Typical IRR Range (%) | Payback Period (Years) | Key Benefits | Source |
|---|---|---|---|---|
| Large‑scale grain (corn, wheat, soy) | 15–25 | 3–5 | Input savings 10–15%, yield +3–7% | McKinsey 2023, FAO 2024 |
| Greenhouse (vegetables, flowers) | 25–35 | 2–4 | Yield +10–20%, water use −20–30% | FAO 2024 |
| Vineyard / orchard | 30–40 | 2–3 | Quality premiums, disease risk reduction | McKinsey 2023 |
| Livestock (dairy, beef) | 18–28 | 3–5 | Mortality −10–20%, feed efficiency +5–10% | FAO 2024 |
SOLAR TODO’s smart‑agriculture solutions are typically designed to achieve sub‑3‑year payback in high‑value crops (greenhouses, vineyards) by combining solar power, IoT, and automation.
6. Technology Stack and Cost Structure
6.1 Typical Smart Agriculture IoT Stack
A standard deployment includes:
- Edge devices: soil sensors, weather stations, cameras
- Connectivity: LoRaWAN, NB‑IoT, LTE‑M, or 5G
- Power: solar PV plus battery (especially for remote fields)
- Cloud: data storage, analytics, AI models
- Applications: dashboards, alerts, decision support
According to Grand View Research (2024), hardware (sensors, gateways, controllers) accounts for about 45–50% of total project cost, connectivity and cloud services 20–25%, and integration/services 25–30%.
6.2 Cost Benchmarks for a Mid‑Size Farm (Illustrative)
FAO (2024) and McKinsey (2023) provide case studies for 200–500 ha farms implementing precision irrigation and variable‑rate fertilization.
Typical 3‑year total cost for a 300 ha mixed‑crop farm (2024 prices):
- Sensors and weather stations: US$20,000–30,000
- LoRaWAN gateways and repeaters: US$5,000–8,000
- Solar power kits for nodes: US$8,000–12,000
- Software subscriptions (3 years): US$10,000–15,000
- Integration and training: US$10,000–20,000
Total: roughly US$53,000–85,000, or about US$180–280 per hectare over three years, according to FAO (2024) synthesis of projects.
SOLAR TODO’s integrated solar‑IoT bundles aim to reduce per‑hectare costs by 10–20% compared with separate procurement of power, connectivity, and sensors.
7. Regional Market Analysis
7.1 North America
According to Grand View Research (2024), North America accounted for roughly 35–40% of the global precision farming market revenue in 2023. The U.S. and Canada have high adoption of GPS guidance, yield monitors, and variable‑rate technology.
USDA (2023) reports that about 70% of U.S. corn and soybean planted area uses GPS‑based guidance, while 50–60% uses yield monitors. However, full IoT sensor integration (soil, weather, telematics) is lower, aligning with the 30–35% farm‑level adoption estimate from FAO (2024).
7.2 Europe
Europe benefits from Common Agricultural Policy (CAP) incentives and strong environmental regulations.
EU Joint Research Centre (2023) estimates that 25–30% of EU farms use some form of digital agriculture technology, with higher adoption in Western and Northern Europe. The Netherlands and Denmark have adoption rates around 50% of farms, driven by intensive horticulture and dairy sectors.
MarketsandMarkets (2024) notes that Europe represents about 25–30% of global smart agriculture revenue, with strong demand for greenhouse automation and livestock monitoring.
7.3 Asia‑Pacific
Asia‑Pacific is the fastest‑growing region but with uneven adoption.
According to Grand View Research (2024), Asia‑Pacific’s precision farming market is expected to grow at a CAGR above 15% between 2023 and 2030, driven by China, Japan, Australia, and India.
FAO (2024) reports that Japan and South Korea have 25–30% adoption of digital agriculture tools, while China’s adoption is around 15–20% of farms, higher in large commercial operations. Southeast Asia (excluding Singapore) remains below 5% adoption due to small farm sizes and limited capital.
SOLAR TODO is active in Asia‑Pacific with solar‑powered irrigation control and LoRaWAN sensor networks for rice, fruits, and greenhouse vegetables.
7.4 Latin America
Latin America has advanced large‑scale farms but a long tail of smallholders.
IICA (Inter‑American Institute for Cooperation on Agriculture) (2023) estimates that Brazil has around 25% adoption of precision agriculture technologies among medium and large farms, while the regional average for Latin America is 15–20%.
Grand View Research (2024) notes that Latin America’s precision farming market is expected to grow at a CAGR of 13–15% through 2030, with soy, corn, and sugarcane as key crops.
SOLAR TODO supports Brazilian and regional agribusinesses with solar‑powered telemetry for pivots, fertigation, and remote pump monitoring.
7.5 Middle East & Africa
Water scarcity and climate stress are key drivers.
FAO (2024) indicates that digital agriculture adoption in the Middle East and North Africa is around 5–8% of farms, with higher penetration in greenhouse and date palm operations. Sub‑Saharan Africa remains below 5% adoption, though pilot projects in Kenya, South Africa, and Ghana are expanding.
MarketsandMarkets (2024) expects the Middle East & Africa smart agriculture market to grow at a CAGR above 15% from 2023 to 2030, albeit from a small base.
SOLAR TODO’s combination of solar PV, battery storage, and IoT is particularly suited to off‑grid African farms and desert greenhouses in the Middle East.
8. Future Outlook 2026–2040
8.1 Market Growth Projections
Based on MarketsandMarkets (2024) and Grand View Research (2024), the smart agriculture and precision farming markets are expected to maintain double‑digit growth through 2030.
- Smart agriculture market: from ~US$18–19 billion in 2023 to ~US$34–35 billion by 2028 (MarketsandMarkets 2024), and potentially US$50–60 billion by 2033 if a 10–11% CAGR continues.
- Precision farming: from ~US$9–10 billion in 2023 to >US$20 billion by 2030 (Grand View Research 2024), implying a market of US$30–35 billion by 2035 at 8–9% CAGR beyond 2030.
By 2040, assuming a gradual slowdown to mid‑single‑digit growth after 2035, the combined smart agriculture IoT ecosystem (hardware, software, services) could plausibly exceed US$70–90 billion in annual revenue, extrapolating from current CAGRs reported by MarketsandMarkets (2024) and Grand View Research (2024). This is an extrapolation, not a formal forecast.
8.2 Technology Trends to 2040
Key trends shaping 2026–2040 include:
- Edge AI and autonomy – More processing at the sensor/gateway level to reduce bandwidth and latency. According to McKinsey (2023), up to 60–70% of agricultural AI workloads could run at the edge by 2030.
- Robotics and autonomous machinery – Swarm robotics for weeding and micro‑spraying; autonomous tractors and harvesters. MarketsandMarkets (2023) projects agricultural robots to grow at >20% CAGR through 2030.
- Interoperability and data standards – FAO (2024) stresses the need for open standards to allow data sharing across platforms and equipment.
- Climate‑smart agriculture – Digital tools to reduce emissions and improve resilience. IPCC (2023) notes that optimized fertilizer and irrigation management can cut on‑farm emissions by 10–20%.
- Solar‑powered, low‑maintenance infrastructure – As sensor counts rise, powering devices becomes critical. IRENA (2023) highlights solar‑powered irrigation and off‑grid systems as key enablers for smallholders.
SOLAR TODO is aligning its roadmap with these trends by integrating edge AI, solar‑powered robotics charging, and interoperable APIs into its smart‑agriculture product line.
8.3 Adoption Scenarios
FAO (2024) suggests that if current policy and investment trends continue, digital agriculture adoption could reach:
- 60–70% of farms in high‑income countries by 2035
- 30–40% in upper‑middle‑income countries by 2035
- 15–25% in low‑ and lower‑middle‑income countries by 2040
This would more than double the current global adoption rate and significantly expand the addressable market for smart agriculture IoT solutions.
Frequently Asked Questions
1. How big is the smart agriculture market today?
According to MarketsandMarkets (2024), the global smart agriculture market was around US$18–19 billion in 2023 and is projected to reach about US$34–35 billion by 2028, at a CAGR of roughly 12–13%. Precision farming accounts for about 40–45% of this total, with livestock monitoring and smart greenhouse solutions making up most of the remainder.
2. What is the market size of precision farming IoT sensors?
Grand View Research (2024) estimates the precision farming market at about US$9–10 billion in 2023, with hardware (sensors, drones, GPS) representing roughly 45–50% of revenue. This implies a precision farming hardware market of around US$4–5 billion in 2023, growing at about 12% CAGR through 2030 as sensor densities per hectare increase.
3. How fast is the agricultural drone market growing?
Fortune Business Insights (2024) values the global agricultural drone market at roughly US$4–5 billion in 2023. It is forecast to exceed US$17–18 billion by 2030, corresponding to a CAGR of about 20–21%. Growth is driven by spraying drones in Asia‑Pacific and mapping/analytics drones in North America and Europe.
4. What are typical costs for key agricultural IoT sensors?
According to Grand View Research (2024) and FAO (2024), soil moisture sensors typically cost US$30–80 per unit, soil pH sensors US$60–150, NPK nutrient sensors US$150–400, compact weather stations US$400–1,200, and AI pest‑monitoring cameras US$500–1,500. Prices vary by accuracy, ruggedness, and connectivity options.
5. What ROI can farms expect from smart agriculture investments?
McKinsey (2023) and FAO (2024) case studies show typical internal rates of return (IRR) of 15–25% for large‑scale grain farms, 25–35% for greenhouses, 30–40% for vineyards/orchards, and 18–28% for livestock operations. Payback periods generally range from 2–5 years, depending on crop value, baseline efficiency, and subsidy support.
6. Which regions have the highest adoption of smart agriculture IoT?
FAO (2024) and EU JRC (2023) indicate that North America has about 30–35% farm‑level adoption, Europe 25–30%, with the Netherlands and Denmark near 50%. Japan and South Korea are at 25–30%, China 15–20%, Brazil about 25%, while Southeast Asia and Sub‑Saharan Africa remain below 5% adoption.
7. How important is LoRaWAN for agricultural IoT?
The LoRa Alliance (2024) reports that agriculture accounts for about 10–12% of global LoRaWAN end‑points, with device counts growing over 25% annually between 2020 and 2023. LoRaWAN’s long range (2–15 km) and low power consumption make it ideal for large farms. SOLAR TODO leverages LoRaWAN with solar‑powered gateways to cover remote fields.
8. What is the crop monitoring AI market size?
MarketsandMarkets (2023) estimates the AI in agriculture market at about US$1.7–1.8 billion in 2022, projected to reach US$4.5–5.0 billion by 2027 at a 21–22% CAGR. Crop monitoring and field mapping applications represent roughly 35–40% of this, implying a crop monitoring AI market of about US$0.6–0.7 billion in 2022, rising to around US$1.7–2.0 billion by 2027.
9. How does solar power support smart agriculture IoT?
IRENA (2023) highlights solar‑powered irrigation and off‑grid systems as key enablers for digital agriculture in remote areas. Solar PV with batteries can power sensors, gateways, and pumps where grid access is limited. SOLAR TODO integrates solar power with IoT nodes, reducing operating costs and enabling deployments in off‑grid farms across Africa, Asia, and Latin America.
10. What time horizon should farms consider when planning IoT investments?
FAO (2024) suggests planning over a 5–10‑year horizon, as hardware lifetimes are typically 5–7 years and software/analytics value compounds over time. Many farms achieve payback in 2–5 years (McKinsey 2023), but full benefits from data‑driven decision‑making, benchmarking, and AI models often emerge after several seasons of data collection.
11. Will smart agriculture IoT be mainstream by 2040?
Based on FAO (2024) adoption scenarios, digital agriculture could reach 60–70% of farms in high‑income countries and 15–25% in low‑income countries by 2040. Extrapolating current market CAGRs from MarketsandMarkets (2024) and Grand View Research (2024), the smart agriculture IoT ecosystem could exceed US$70–90 billion annually by 2040, making it a mainstream component of global farming.
Related Reading
References
- MarketsandMarkets, 2024, "Smart Agriculture Market – Global Forecast to 2028" – Market size and segment forecasts for smart agriculture.
- Grand View Research, 2024, "Precision Farming Market Size, Share & Trends" – Global precision agriculture market analysis and forecasts.
- Fortune Business Insights, 2024, "Agriculture Drone Market Size, Share & COVID‑19 Impact Analysis" – Agricultural drone market sizing and growth.
- LoRa Alliance, 2024, "State of the LoRaWAN Market" – Adoption metrics and vertical breakdown, including agriculture.
- FAO, 2024, "Digital Agriculture: Transformation for Sustainable Food Systems" – Global adoption, case studies, and policy insights.
- EU Joint Research Centre (JRC), 2023, "Digital Technologies in Agriculture in the EU" – Adoption rates and country comparisons.
- McKinsey & Company, 2023, "Agriculture’s Connected Future: How Technology Can Yield New Growth" – ROI benchmarks and digital agriculture scenarios.
- IRENA, 2023, "Renewable Energy for Agriculture" – Role of solar and renewables in powering agricultural systems.
Last verified: 2026-03-20
About the Author
SOLAR TODO
Solar Energy & Infrastructure Expert Team
SOLAR TODO is a professional supplier of solar energy, energy storage, smart lighting, smart agriculture, security systems, communication towers, and power tower equipment.
Our technical team has over 15 years of experience in renewable energy and infrastructure, providing high-quality products and solutions to B2B customers worldwide.
Expertise: PV system design, energy storage optimization, smart lighting integration, smart agriculture monitoring, security system integration, communication and power tower supply.
Cite This Article
SOLAR TODO. (2026). Smart Agriculture IoT Market & Technology Trends 2026–2040. SOLAR TODO. Retrieved from https://solartodo.com/knowledge/smart-agriculture-iot-market-trends-2026-2040
@article{solartodo_smart_agriculture_iot_market_trends_2026_2040,
title = {Smart Agriculture IoT Market & Technology Trends 2026–2040},
author = {SOLAR TODO},
journal = {SOLAR TODO Knowledge Base},
year = {2026},
url = {https://solartodo.com/knowledge/smart-agriculture-iot-market-trends-2026-2040},
note = {Accessed: 2026-03-24}
}Published: March 24, 2026 | Available at: https://solartodo.com/knowledge/smart-agriculture-iot-market-trends-2026-2040
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