IOT in Agriculture Market Size, Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities and Forecast Period

 

A compound annual growth rate (CAGR) of 9.5% is anticipated throughout the projection period, with the global market value of IOT in the agriculture market estimated at USD 12.5 billion in 2022. The need to work with IOT in precision farming and animal monitoring is growing. IOT's presence in the market and precision farming are being aided by the growing demand for data-driven technology.

The growing use of technological innovations in agriculture is driving the rapid expansion of the global IOT in agriculture market. The need for IOT in the agriculture sector is propelling market expansion in order to boost productivity. The market for IOT in agriculture is expanding rapidly in order to remotely detect soil moisture.

 

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Growth Drivers

Farmers are able to maximize resource use and boost yields thanks to the growing need for precision farming, which is made possible by IOT and provides real-time data on crop health, weather patterns, and soil conditions. By automating farm machinery and enabling remote crop, livestock, and equipment monitoring, IOT lowers labor costs and boosts overall operational effectiveness. Food demand is increasing as the world's population grows. Through increasing output, cutting waste, and guaranteeing sustainable agricultural methods, IOT in agriculture helps to address this issue.

IOT technologies increase farmers' profitability by maximizing input use, cutting waste, and lowering operating expenses. The overall performance of IOT systems in agriculture is improved by advancements in connectivity technologies, such as 5G, which facilitate smooth data transfer and improve device-to-device communication.

Segmentation

Application

·         Precision Farming

·         Precision Live-stock

·         Precision Aquaculture

·         Precision Forestry

·         Precision Greenhouse

·         Livestock Monitoring

·         Smart Green Houses

·         Fish Farm Monitoring

System Segmentation

·         Automation and Control Systems

·         Sensing and Monitoring Devices

·         Livestock Monitoring Hardware

·         Fish Farming Hardware

·         Smart Greenhouse Hardware

·         Software

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         John Deere and Co.

·         Trimble Inc

·         Ponsse

·         Allflex

·         Agjunction

·         Topcon Positioning Systems

·         Raven Industries

·         Akva Group

·         Farmers Edge Inc

·         The Climate corporation

·         Grownetics Inc

·         Auroras s.r.l

·         Granular Inc

·         Conservis

·         Dickey-John

·         Ag Leader Technology

·         Other Players

 

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