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Agriculture IoT Market
Agriculture Iot Market observed USD 10,300 million in 2019, growing at a vigorous CAGR of 9% during forecast period.
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The major factor driving the growth of Agriculture IoT Market includes increasing application of Artificial Intelligence for weather forecasting, monitoring soil and health crop, analyzing crop health through drones etc. The growing demand for food items across the world along rising population is increasing the growth of Global IoT Agriculture Market. As per the report from United Nations, Global food prices are around 30% higher than compared in 2021, Global food shortage could be observed in the coming few months, if the Russia-Ukraine war stretches for a longer duration. The integration of new technologies such as IoT, AI and variable rate technology in the agriculture farming has increased the IoT Agriculture Market Size. Increasing greenhouse gas emissions, vigorous agriculture supply chain and growing per capita consumption around the world, are some of the factors, increasing the demand for smart agriculture systems.
However, the growth of Agriculture IoT Market is hindered by insufficient availability of data aggregation and data management tools.
Prominent players operating in the market are AgJunction, Merck & Co., Deere & Company, Trimble Inc., Raven Industries Inc., DeLaval, Ponsse Oyj, Komatsu Forest, GEA Group, AGCO Corporation among others.
Offering: Segment Analysis
Based on the offering, the Services segment is expected to dominate the market during the forecast period due to growing demand for farm data analytics. It helps farmers to make resource management decisions by analyzing the trends.
Agriculture Type: Segment Analysis
Based on the Agricultural Type, the precision farming segment is anticipated to grow at a faster CAGR during the forecast period due to farmers growing inclination towards adopting precision farming. It helps them to improve the productivity and profitability of their yield, by collecting farm related information through IoT based Software and Hardware Devices.
Region: Segment Analysis
Based on the region, Asia Pacific is projected to dominate the market over the forecast period due to growing adoption of smart devices for enhancing food quality and growing number of AgriTech Startups in the region. The initiatives by Government to promote digital agriculture through pilot projects, is increasing the Agriculture IoT Market size in the region. The Indian Government initiated Digital Agriculture Mission 2021–2025, which aims to support projects based on emerging technologies, such AI, block chain and remote sensing.
Market Segmentation:
Global Agriculture IoT Market by Offering
· Hardware
· Precision Farming Hardware
· Automation and Control Systems
· Drones/UAVS
· Irrigation Controllers
· GPS/GNSS Systems
· Flow and Application Control Devices
· Guidance and Steering
· Handheld Mobile Devices/Handheld Computers
· Displays
· Others
· Sensing and Monitoring Devices
· Yield Monitors
· Soil Sensors
· Water Sensors
· Climate Sensors
· Others
· Precision Forestry Hardware
· Harvesters & Forwarders
· UAVS/Drones
· GPS
· Cameras
· RFID and Sensors
· Variable Rate Controllers
· Others
· Livestock Monitoring Hardware
· RFID Tags and Readers
· Sensors
· Control System
· GPS
· Others
· Fish Farm Monitoring Hardware
· GPS/GNSS
· Sensors
· Others
· Smart Greenhouse Hardware
· HVAC Systems
· Led Grow Lights
· Sensors
· Others
· Software
· Local/Web-Based
Cloud Based
· Services
· System Integration and Consulting
· Managed Services
· Farm Operation Services
· Data Services
· Analytics
· Connectivity Services
· Assisted Professional Services
· Supply Chain Management Services
· Climate Information Services
· Others
· Maintenance and Support
Global Agriculture IoT Market by Agriculture Type
· Precision Farming
· Precision Forestry
· Livestock Monitoring
· Fish Farm Monitoring
· Smart Greenhouse
· Others
Global Agriculture IoT Market by Application
· Precision Farming Applications
· Yield Monitoring
· Field Mapping
· Crop Scouting
· Weather Tracking and Forecasting
· Irrigation Management
· Inventory Management
· Farm Labor Management
· Financial Management
· Others
· Precision Forestry Applications
· Genetics and Nurseries
· Silviculture and Fire Management
· Harvesting Management
· Inventory and Logistics Management
· Livestock Monitoring Applications
· Feeding Management
· Heat Stress Management
· Milk Harvesting Management
· Breeding Management
· Animal Comfort Management
· Behavior Monitoring and Management
· Others
· Fish Farm Monitoring Applications
· Fish Tracking and Fleet Navigation
· Feeding Management
· Water Quality Management
· Others
· Smart Greenhouse Applications
· HVAC Management
· Yield Monitoring
· Water and Fertilizer Management
· Other Applications
Global Agriculture IoT Market by Region
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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