Agriculture Internet of Things (IoT) Market will have Remarkable Growth and will Reach USD 10,300 Million in 2019
Research Reports
Nov 16, 2021
Agriculture Iot Market witnessed for USD 10,300 million in 2019, growing at a robust CAGR of 9.8% during forecast period. GMI Research speculates the growing trends of the Internet of Things (IoT) Market due to the increasing demand for advanced technologies like AI and IoT in farming.
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Introduction of the Agriculture Internet of Things (IoT) Market
Agriculture Internet of Things (IoT) technologies helps to resolve agricultural problems and increase the quality and quantity of agricultural production by joining farms with a single platform and providing them with information sharing, storage, and review option. It plays a crucial role in improving existing agricultural productivity to amuse rising food demand. Therefore, IoT combines with the latest technological tools, machinery, and solutions to surge operational efficiency and reduce energy wastage. In IoT-based smart farming, a system is built to check the crop field with the help of sensors such as temperature, humidity, light and to automate the irrigation system. Hence, the farmers can monitor the conditions in the field from any place. IoT-based smart agriculture techniques are far better than the traditional approach of farming.
Key Players of the Market
- Deere & Company
- Trimble Inc.
- AGCO Corporation
- Raven Industries, Inc.
- DeLaval
- GEA Group
- AgJunction
- Merck & Co., Inc.
- Ponsse Oyj
- Komatsu Forest
Agriculture IoT Market Dynamics
The significant factors contributing to surging the agriculture IoT market size are the rising demand for agricultural output, high penetration of advanced technologies like Internet of Things (IoT) & artificial intelligence (AI) in the farming sector, and the growing government support to choose the latest agricultural techniques followed the increasing focus on livestock monitoring to enhance the demand. Additionally, the rising adoption of drones in precision farming and the big data introduction in agriculture farms will positively impact the IoT in agriculture market size. Therefore, according to the agriculture IoT market size global forecast, IoT-based technology helps to acknowledge agricultural problems and enhances the quantity and quality of farming production by linking via a single platform and making it bilateral by storing, analyzing, and sharing the information.
In addition, according to the global IoT agriculture market research report, the robust demand for food at the global level, along with the growing population rate, especially in developing countries like India, will create uncountable growth opportunities in the market. However, to optimize production and reduce the chances of losses, the deployment of IoT-based technologies in the agricultural sector becomes necessary by the drastic change in the climate. In addition to this, the high penetration of the Internet and smartphones among farmers will motivate them to choose advanced technologies to augment their quantity and improve the yield quality. On the other hand, simple & standardized data management and data aggregation tools are not available, which are the factor that is likely to hinder the growth of the global agriculture IoT market in the next few years.
Agriculture IoT Market Segmentation
Offering Market Drivers
The Services segment is expected to lead the market during the forecast period due to the growing demand for data services and farm data analytics because the climatic conditions have changed over the past years. Therefore, the companies are referred to as IoT-based services providers, which provide farm data information and analyze it. They help the farmers to make the correct decision and make them aware of the farming operations.
Application Type Market Drivers
Based on the Agricultural Type, the precision farming segment is estimated to grow at a higher CAGR over the forecast period due to the paradigm shift in the farmer’s inclination towards enhancing farm efficiency and overall productivity. Precision farming is becoming popular in the agriculture sector. It allows the farmers to use an accurate application of agricultural input according to the weather, soil, and crop needs, thereby enhancing the productivity and profitability of the farmers. Therefore, precision farming provides a plethora of IoT-based software and hardware devices, which give farm-related information to the farmers, which help them to make better decisions.
Geographical Drivers
Based on the region, Europe envisages leading the market during the forecast period. The climatic conditions change drastically, the rise in population rate directly increases the demand for food, a fundamental shift in the diet habits, and the growing shortage of natural resources is influencing the acceptance of IoT-based technologies in the agriculture sector in Europe. Therefore, farmers in the European countries are increasingly adopting advanced agricultural technologies, such as crop scouting, yield monitoring, and GNSS technology in guidance. In Germany, the growing trend of livestock management, animal tracking, and other cattle monitoring technologies will attract many consumers to the market. Hence, all these drivers, coupled with the new era of technological advancements, are the main factors contributing to inflaming market growth in the region.
Agriculture IoT Market Segmentation
Segmentation 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
Segmentation By Agriculture Type
- Precision Farming
- Precision Forestry
- Livestock Monitoring
- Fish Farm Monitoring
- Smart Greenhouse
- Others
Segmentation 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
Segmentation By Region
- North America
- The United States of America
- Canada
Europe
- The United Kingdom
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of APAC
Rest of World
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of world
About GMI Research
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