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Smart Farm Diagram

Market Prospect

Smart Farm Domestic Market Scale and Prospect

Distinction 2018 2019 2020 *CAGR
(2013~2015)
Smart Factory 19,741 21,064 22,475 6.7
Plant Factory 3,141 3,352 3,576 53.3
Intelligent Farm Work Machine 24,591 26,239 27,997 20.0
Total (Domestic Market) 47,474 50,655 54,048 14.5

Data: Recited from World Agricultural Equipment and Korea Institute for Industrial Economics and Trade (INSTANS)
*CAGR (Compound Annual Growth Rate)

Domestic Smart Farm Supply Project Status and Result

Unit: ha/Smart greenhouse area

Domestic Smart Farm Market Scale: Approximately 5.4 trillion won

  • Domestic Smart Farm Market Scale: Approximately 5.4 trillion won

    According to the smart farm report presented by INSTANS, the scale of the domestic smart farm market is forecasted to be approximately 5.4 trillion won. This scale includes all of the smart farms, plant factories and intelligent farm work machines and the scale of the smart farm is only 2.2 trillion won.

  • Growth potential over 99%

    As of 2019, the smart farm penetration is less than 0.5% of the entire farmlands. There is still a growth potential of over 99%.

  • 90 billion won is supported annually for smart farm fund loans.

    Nonghyup Bank has been supporting 90 billion won annually since 2017 for smart farm fund loans and is planning to support additional 900 billion won until 2025.

  • A smart farm related equipment support project is ongoing.

    Each local government is working on the support project for smartfarm related equipment, etc.

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