Summary
A New Market Study, titled “Internet of Things in Agriculture Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
Overview:
The Internet of Things in Agriculture Market is showing chances of crossing a valuation of USD 34.88 Bn by 2025 using a CAGR of 13.6% during the forecast period (2019 to 2025). Market Research Future (MRFR) declared in the report that the internet of things agriculture market is expected to benefit from growing government participation, the inclusion of latest technologies to support the rising demand for food, the need for a better profit margin for the farmers, and others. In addition, research labs are getting higher funds that can ensure better outcomes.
Segmentation:
The global report, published by MRFR experts on the Internet of Things in Agriculture Market, includes a study based on a segmentation of components and applications.
By component, the Internet of Things in Agriculture Market includes a study of software, system, and services. The system segment encompasses fish farming systems, sensing and monitoring systems, livestock monitoring systems, automation, smart greenhouse systems, and control systems, and others. The sensing and monitoring systems comprise water sensors, yield monitors, climate sensors, soil sensors, and others. The fish farming systems segment includes sensors, GPS/GNSS, and others. The livestock monitoring systems have sensors, RFID tags and readers, control systems, GPS, and others. The automation and control systems segment encompasses studies on irrigation controllers, flow and application control devices, GPS/GNSS systems, drones/UAVs, handheld mobile devices/handheld computers, guidance and steering, displays, and others.
By application, the Internet of Things in Agriculture Market incorporates aspects of precision crop farming, livestock monitoring, aquaculture, indoor farming, water supply management, integrated pest management, and others.
Regional Analysis:
Infrastructural advantage and better support from the investors are expected to keep North America and Europe in advantageous positions. Asia Pacific’s reliance on the agrarian economy is also going to bolster the regional market growth.
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Competitive Landscape:
The global market report on the Internet of Things in Agriculture Market covers the strategic moves of companies like Grownetics (US), Deere & Company (US), Dickey John (US), Precisionhawk Inc. (US), Scicrop (Brazil), CropIn (US), Shivrai Technologies Pvt. Ltd (India), Trimble Inc. (US), Rapidsoft Technologies Pvt. Ltd (US), Proagrica (US), AG Leader Technology (US), Raven Industries (US), Topcon Corporation (Japan), DuPont Pioneer (US), Tigercat (US), IBM Corporation (US), Hexagon Agriculture (Sweden), Decisive Farming (Canada), Cainthus (Ireland), Tree Metrics (Ireland), Descartes Labs (US), Sky (Canada), Nileworks Inc. (Japan), Autonomous Tractor Corporation (US), and Gamaya (Switzerland).
Industry News:
In September 2020, three leading Indian technology institutions – Gauhati University, IIT Bombay, and the Dhirubhai Ambani Institute of Information and Communication Technology from Gandhinagar announced a collaboration to develop high-tech sensors that can be used in agriculture. In agriculture, this use of the sensor is not new, but these institutes are promising a major hike in the process.
The technology these three institutes are planning to develop would be advanced and can be used along with Internet-of-Things (IoT). These would contain ‘ultra-small graphene particles’, developed by using graphene quantum dots that are nano-sized fragments of graphene.
In Cambodia, climate change is wreaking havoc. Agriculture is the mainstay of the country but due to irregular droughts and floods, the country is now witnessing a lack of production and is facing a severe financial crunch. IoT and AI can be a solution for such a large-scale crisis, which would help farmers in becoming more specific in their pursuit.
During the COVID-19 crisis, the global economy took a hit, which might deter the process of incorporating IoT in the agriculture market.
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Major Key Points in Table of Content
- Executive Summary
2. Market Introduction
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
6. Global Iot in Agriculture Market, by Component
7. Global Iot in Agriculture Market, by Application
8. Global Iot in Agriculture Market, by Region
9. Competitive Landscape
10. Company Profiles
Continued….
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Global IoT in Agriculture Market Research Report: By Component (Software, System [Sensing and Monitoring Systems, Fish Farming Systems, Smart Greenhouse Systems, Livestock Monitoring Systems, Automation and Control Systems, Others], Services), Application (Livestock Monitoring, Precision Crop Farming, Indoor Farming, Aquaculture, Integrated Pest Management, Water Supply Management and others) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2027Market OverviewThe primary need to control operation factors optimizing the use of water and pesticides is anticipated to promote the Internet of Things in agriculture market 2020.
The ICT industry reports are produced by Market Research Future, which highlights market options for expansion.
A potential of USD 34.88 Billion with a CAGR of 13.6% approx.
The US shows the way for market development in the North American region as it has elevated digitalization in the agricultural sector, and it is anticipated that just about 80% of farmers employ smart farming technology.
The intense weather conditions owing to climate change have caused loss of arable land and have subsequently given rise to elevated adoption of IoT for escalating the volume and quality of the crop yield.Competitive AnalysisThe currency inflow is estimated to be restricted in the upcoming period, which may create further problems for the overall market growth.
The expansion of the market has currently come close to a standstill with government agencies and trade bodies, introducing a stimulus to pick up the pace of development in the global market.
