5G Smart Farming Market Size Worth USD 113.16 Billion by 2034 | CAGR: 18.24%

The global 5G smart farming market size is expected to reach USD 113.16 billion by 2034, according to a new study by Polaris Market Research. The report “5G Smart Farming Market Size, Share, Trends, Industry Analysis Report: By Component (Hardware, Software, and Services), Application, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The 5G smart farming market demand is largely driven by government initiatives worldwide that promote the adoption of advanced agricultural technologies. Governments in major countries are investing heavily in 5G technologies and digital initiatives to foster smart farming methods. According to the Ministry of Agriculture and Rural Affairs of China, the government plans to deploy over 5G base stations in rural areas by 2025, aiming to enhance agricultural efficiency through real-time data analytics and automation. In Australia, Dec 2024 the Department of Agriculture, Water, and the Environment launched an Agtech initiative to support smart farming practices amid high demand for farm products and a labor shortage. Similarly, various governments worldwide are offering incentives for businesses and local farmers to embrace digital agriculture. These global efforts to integrate 5G and digital technologies into farming are expected to drive the market's exponential growth. By enhancing connectivity, data analytics, and automation, these government-backed programs are paving the way for more efficient and sustainable agricultural practices, thereby accelerating the adoption and expansion of 5G smart farming solutions across the globe.

The rapid 5G smart farming market expansion is attributed to the increasing labor costs and shortages faced by the agricultural sector. High labor costs are pushing farmers to seek more cost-effective solutions, while a shortage of skilled labor exacerbates the need for automation. According to the US Department of Agriculture, labor costs have risen by ∼20% over the past decade, and many farms are struggling to find qualified workers. In response, 5G-enabled smart farming technologies offer a viable solution by automating tasks and improving efficiency. For example, the deployment of 5G can enhance the capabilities of autonomous tractors and drones, reducing the need for manual labor. Similarly, the UK's Department for Environment, Food & Rural Affairs reports a growing trend in the use of technology to address labor shortages. As such, the drive toward smart farming solutions is increasingly being fueled by these economic pressures and workforce challenges.

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In the 5G smart farming market revenue, based on component, the hardware segment witnesses high demand due to rapid technological advancements and the increasing need for sophisticated agricultural solutions. This demand is driven by the ease of adoption facilitated by user-friendly interfaces and innovative features. As 5G technology enhances connectivity and performance, smart farming hardware such as soil sensors, weather stations, and autonomous tractors become integral to modern agriculture. The user-friendly nature of these devices ensures that farmers can quickly and effectively integrate them into their operations, making advanced farming technologies more accessible and operationally efficient.

5G Smart Farming Market Report Highlights

• Based on application, the water management segment is anticipated to experience substantial growth at a significant CAGR in the global market. This growth is attributed to an increase in awareness about the water scarcity and cost associated with the large water flows toward wastage.
• The hardware segment, by component, accounted for the largest revenue share of the market in 2024 due to technological advancements in devices, which are making it user friendly, and accelerated adoption of modern technology.
• In 2024, North America dominated the global 5G smart farming market revenue share due to stable internet connections in rural locations and increasing adoption of precision farming.
• The 5G smart farming market demand in India is projected for substantial growth due to the increasing funding and incentives by the government.
• Trimble Inc., AG Leader Technology, Huawei, Dronetech, Ericsson, Deere and Company, LumiGrow, Raven Industries, DroneDeploy, Vodacom, and Indigo Ag are a few global key market players.

Polaris Market Research has segmented the 5G smart farming market report on the basis of component, application, and region:

By Component Outlook (Revenue – USD Billion, 2020–2034)

• Hardware
• Drones
• Robotic Systems
• Smart Tractors
• Software
• Services

By Application (Revenue – USD Billion, 2020–2034)

• Land Preparation
• Planting and Seeding
• Nutrient Management
• Harvest
• Water Management
• Other

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

5G Smart Farming Market Report Scope