What is the global market size of Internet of Things (IoT) in Agriculture Market?

Internet of Things (IoT) in Agriculture Market size was valued at USD 27.1 billion in 2021 and is poised to grow from USD 30.51 billion in 2022 to USD 78.85 billion by 2030, growing at a CAGR of 12.6% in the forecast period (2023-2030).

Global Internet of Things (IoT) in Agriculture Market

Internet of Things (IoT) in Agriculture Market Size, Share, Growth Analysis, By Type(Small Farms, Mid-Sized, Large), By Component(Hardware (Irrigation Controllers, Flow and Application Control Devices, Variable Rate Controllers, Soil Sensors), By Application(Precision Aquaculture, Precision Farming, Smart Greenhouses, Precision Livestock), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45I2075 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 110 | Figures: 76

Internet of Things (IoT) in Agriculture Market Regional Insights

The North American IoT in agriculture market is anticipated to increase over the forecast period as a result of rising government initiatives and regulations to improve the region's agriculture industry. The North America Climate Smart Agriculture Alliance (NACSAA), a platform for educating and equipping growers to sustainably boost agricultural productivity, is created by a coalition of different agricultural groups.

Asia Pacific's income share will be the second-largest. The growing interest in this area is typically due to more notable information on modern horticultural innovation and the implementation of excellent unofficial regulations to support ranch digitalization. Additionally, as urbanisation increases and the need for greater food security grows, interest in advanced agribusiness will increase, leading to IoT proposals in nearby horticulture regions. Additionally, increasing consumer demand choices brought on by more money have contributed to the district's market growth during the forecast period.

Internet of Things (IoT) in Agriculture Market Report Snapshots

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Internet of Things (IoT) in Agriculture Market size was valued at USD 27.1 billion in 2019 and is poised to grow from USD 30.51 billion in 2023 to USD 78.85 billion by 2031, growing at a CAGR of 12.6% in the forecast period (2024-2031).

The competitive landscape for the internet of things (IoT) in agricultural market research includes information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. The information above only relates to the companies' IoT (internet of things) concentration on the agriculture industry research. 'IBM Corporation', 'Cisco Systems, Inc.', 'SAP SE', 'Trimble Inc.', 'Deere & Company', 'Agco Corporation', 'Hexagon AB', 'Telit Communications PLC', 'Decisive Farming Corp.', 'Raven Industries, Inc.', 'Ag Leader Technology', 'Climate Corporation, The', 'Farmers Edge Inc.', 'Precision Planting LLC', 'SemiosBio Technologies Inc.', 'Topcon Corporation', 'The Toro Company', 'AG Junction Inc.', 'Taranis', 'FluroSat'

The IoT in the agriculture market will benefit from the growth of the VRT market. Additionally, a lot of governments are interested in smart farming technologies. The government is heavily promoting IoT in agriculture. It is yet another significant market driver. Many other government subsidies as well as the cost advantages of IoT in farm practice draw more end users. During the forecast period, all of these elements will contribute to a high IoT in Agriculture Market Profit.

Automated aerial vehicles (UAVs), sometimes known as drones, are rapidly transitioning from battlefields to agricultural fields because they can take incredibly accurate flying images of large areas of land—up to many hectares—in a single flight, saving a lot of money. Rural robots are cheaper than reconnaissance robots and have superior sensors and imaging capabilities that allow ranchers new options to increase crop efficiency while reducing asset waste. When screening crops, ranchers typically utilise satellite imagery and aircraft. Drones are frequently used in precision agriculture to collect ongoing data, mainly on big ranches. Therefore, the use of robots or automated airborne vehicles would likely present prospects for the farming IoT industry to grow.

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Internet of Things (IoT) in Agriculture Market Regional Insights

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