Market Overview:
The global IoT in agriculture market size is showing chances of crossing a valuation of USD 22.4 billion by 2030 using a CAGR of 9.20% during the forecast period (2022-2030). 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.
Obtain a complimentary sample of our report to assess the quality and relevance of our research.
Market Segmentation
The global report, published by MRFR experts on the IoT in the agriculture market, includes a study based on a segmentation of components and applications.
By component, the global IoT 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 global IoT in the agriculture market incorporates aspects of precision crop farming, livestock monitoring, aquaculture, indoor farming, water supply management, integrated pest management, and others.
Key Players
The global market report on the IoT in the 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).
Introduction:
In recent years, the Internet of Things (IoT) has emerged as a transformative force in various industries, and agriculture is no exception. The integration of IoT technology into farming practices has revolutionized the way farmers monitor and manage their crops, livestock, and overall farm operations. By leveraging the power of connected devices and data analytics, IoT in agriculture offers immense potential to enhance productivity, optimize resource utilization, and promote sustainable farming practices. This article explores the applications, benefits, and challenges of IoT in agriculture and highlights its role in shaping the future of farming.
- IoT Applications in Agriculture:
1.1 Precision Farming: IoT-enabled precision farming empowers farmers to make data-driven decisions by collecting and analyzing real-time data from various sources. Sensors deployed in the fields monitor soil moisture levels, temperature, humidity, and nutrient content, enabling farmers to optimize irrigation, fertilizer application, and other farming practices. Drones equipped with imaging sensors can also provide valuable insights into crop health, allowing for targeted interventions and minimizing crop losses.
1.2 Livestock Monitoring: IoT devices play a crucial role in livestock management by remotely monitoring animal health, behavior, and location. Wearable sensors and smart collars equipped with GPS technology can track livestock movements, detect signs of illness or distress, and facilitate timely interventions. Automated feeding systems can ensure optimal nutrition for each animal, while smart barns enable efficient environmental control to create optimal living conditions.
1.3 Supply Chain Management: The IoT facilitates seamless tracking and monitoring of agricultural products throughout the supply chain. Smart tags, barcodes, and RFID technology enable real-time monitoring of product location, temperature, and humidity during transportation and storage. This enhanced visibility minimizes spoilage, reduces wastage, and ensures the delivery of high-quality produce to consumers.
- Benefits of IoT in Agriculture:
2.1 Increased Efficiency: By providing farmers with real-time data and insights, IoT technology enables them to optimize their operations and resource allocation. This leads to increased efficiency in irrigation, fertilizer usage, pest control, and overall crop management. Improved efficiency translates into higher yields, reduced costs, and improved profitability.
2.2 Resource Optimization: IoT devices help farmers monitor and manage resources more effectively. By precisely monitoring soil moisture levels, farmers can optimize irrigation practices, conserving water resources and minimizing waste. Similarly, IoT-driven precision application of fertilizers and pesticides reduces their overuse, resulting in cost savings and reduced environmental impact.
2.3 Enhanced Decision-making: The availability of accurate and timely data through IoT devices empowers farmers to make informed decisions. Real-time monitoring of environmental conditions, crop health, and animal behavior enables proactive interventions and timely responses to potential issues. This proactive approach reduces risks and improves overall productivity.
- Challenges and Considerations:
3.1 Data Security and Privacy: As IoT devices generate vast amounts of data, ensuring data security and privacy becomes critical. Safeguarding sensitive farm data from unauthorized access and potential cyber threats requires robust cybersecurity measures and adherence to data protection regulations.
3.2 Interoperability and Standardization: The proliferation of IoT devices from different manufacturers often leads to compatibility issues and lack of interoperability. Establishing industry-wide standards and protocols for seamless integration and data exchange among devices is crucial for maximizing the benefits of IoT in agriculture.
3.3 Cost and Infrastructure: Implementing IoT solutions in agriculture requires initial investments in devices, sensors, connectivity, and data analytics infrastructure. For small-scale farmers with limited resources, these costs can be a barrier to adoption. Government initiatives, subsidies, and collaborations with technology providers can help alleviate the financial burden.
Related Reports
Open Source Intelligence (OSINT) Market
Conclusion:
The integration of IoT technology in agriculture holds immense promise for transforming the industry and addressing its evolving challenges. By harnessing the power of connected devices, real-time data analytics, and automation, farmers can optimize their operations, conserve resources, and improve productivity. However, to fully realize the potential of IoT in agriculture, addressing challenges related to data security, interoperability, and cost is crucial. With ongoing advancements in IoT technology and increased awareness, the future of farming looks promising and sustainable.
IoT in Agriculture Market-OverviewThe primary need to control operation factors optimizing the use of water and pesticides is anticipated to promote the IoT in the agriculture market 2020.
A potential of USD 34.88 Billion with a CAGR of 13.6% approx is forecasted by 2025.The need to lessen water usage and greenhouse gas emissions is likely to push the growth of the IoT in the agriculture market share.
The demand to increase the crop yields while curtailing the cost of production is estimated to raise the demand for the IoT in the agriculture market in the coming period.Segmental Analysis The segmental insight into the IoT in the agriculture market has been conducted based on application, component, and region.
Based on the applications, the IoT in the agriculture market has been segmented into precision crop farming, indoor farming, livestock monitoring, aquaculture, water supply management, integrated pest management, and others.
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.
Market OverviewThe primary need to control operation factors optimizing the use of water and pesticides is anticipated to promote the IoT in the agriculture market 2020.
A potential of USD 34.88 Billion with a CAGR of 13.6% approx is forecasted by 2027.The need to lessen water usage and greenhouse gas emissions is likely to push the growth of the IoT In Agriculture Market share.
The demand to increase the crop yields while curtailing the cost of production is estimated to raise the demand for the IoT in the agriculture market in the coming period.Segmental Analysis The segmental insight into the IoT in the agriculture market has been conducted based on application, component, and region.
Based on the applications, the IoT in the agriculture market has been segmented into precision crop farming, indoor farming, livestock monitoring, aquaculture, water supply management, integrated pest management, and others.
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.
Global IoT in Agriculture Market Forecast to 2028The global IoT in agriculture market size is expected to reach USD 30.8 billion by 2028, registering a CAGR of 10.6% over the forecast period, according to the latest report by Reports and Data.
Major factors driving market revenue growth are the growing demand for agricultural output, increasing penetration of Internet of Things (IoT) & Artificial Intelligence (AI) technologies in the farming sector, and increasing government support for adoption of latest agricultural technologies along with growing focus on livestock monitoring to enhance efficiency in farming.
The report is fabricated with thorough primary and secondary research and is updated with the latest and emerging market trends to offer the readers opportunities to capitalize on the current market environment.
The report also offers a thorough current and future analysis of the impact of the COVID-19 pandemic on the overall growth of the market.To get a sample PDF copy of the report, visit @ https://www.reportsanddata.com/sample-enquiry-form/4017The report presents a panoramic view of the competitive landscape of the IoT in Agriculture market, covering details about the key manufacturers and companies, price analysis, revenue estimation, gross profit margins, business expansion plans, and other vital details that offers the readers deep insights into each company operating in the industry.
The report also focuses on strategic alliances in the IoT in Agriculture market, such as mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, licensing agreements, partnerships, corporate and government deals, and others.Top Players Analyzed in the Report are:Deere & Company, Trimble, Raven Industries, AGCO Corporation (AGCO), AgJunction Inc. (AgJunction), DeLaval, GEA Farm Technology, Lely, Antelliq, AG Leader Technology (AG Leader), Tigercat, Ponsse, Komatsu Forest AB, Caterpillar, Treemetrics, Topcon Positioning Systems, and DICKEY-john Corporation.Offering Outlook (Revenue, USD Billion; 2018 – 2028)Hardware, Software and Services.Agriculture Type Outlook (Revenue, USD Billion; 2018 – 2028)Precision Farming, Precision Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse and Others (Horticulture and orchids).Application Outlook (Revenue, USD Billion; 2018 – 2028)Precision Farming Applications, Precision Forestry Applications, Livestock Monitoring Applications, Fish Farm Monitoring Applications, Smart Greenhouse Applications and Other Applications (Horticulture and orchids applications).For a detailed understanding of the competitive landscape, a thorough regional analysis covering North America, Europe, AsiaPacific, Latin America, and Middle East & Africa, is offered in the report.
It studies the market size, market share, revenue contribution, production and consumption patterns, supply and demand ratio, import/export, and the operations of the key players operating in those regions.
