Agriculture IoT Market Size is Projected to Reach USD 48,714 Million by 2025 – Valuates Reports

BANGALORE, India | 17th July 2020: Global Agriculture IoT Market size was valued at USD 16,330 Million in 2017 and is projected to reach USD 48,714 Million by 2025, growing at a CAGR of 14.7% from 2018 to 2025.

In the agriculture industry, IoT incorporates advanced technological tools, systems, equipment, and solutions to enhance operational efficiency, maximize yield and minimize energy wastage through real-time field data collection, data storage, data analysis, and platform development.

One of the major factors that are expected to increase the Agriculture IoT Market size is the efforts of various governments of the countries across the globe to increase the quality and quantity of agriculture production. Shortages in skilled labour in advanced countries are pushing automation in the agriculture sector.

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  • Factors such as an increase in the global population and a rise in food demand have fuelled the adoption of new technologies to maximize agricultural production. This is expected to be one of the major factors that are driving growth in the Agriculture IoT Market.
  • Climate change plays an important role in affecting global agricultural growth. Severe weather conditions are thus helping to implement IoT-based technologies to improve agricultural production.
  • According to recent estimates from the United Nations, by 2050, the global population is projected to hit 9.8 Billion, with an estimated population growth of about 83 Million. The growing population is in turn increasing the food demand there by prompting farmers to either increase the amount of agricultural land to grow crops or increase productivity on existing agricultural land by introducing new methods such as precision farming. This factor is expected to fuel the growth of the Agriculture IoT Market.
  • Several government agencies have implemented awareness campaigns, policy changes, and private-sector links to promote smart farming in their respective regions. This, in turn, is expected to increase the Agriculture IoT Market size.
  • Many farming societies are unaware of the internet of things due to which IoT is less commonly adopted in agriculture. Farmers are not given sufficient awareness about the use of IoT in agriculture, and this factor is limiting the growth of the Agriculture IoT Market size.

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  • The agriculture IoT market for services is expected to grow at a higher CAGR during the forecast period. Service providers include businesses offering farm management services, computer processing, and farm data analytics to tech companies or farmers directly. Analytics tools help provide appropriate calls and warnings on farming operations to enhance the farmers’ decision-making ability.
  • Precision Farming to account for the largest share of the agriculture IoT market during the forecast period. This rise in the market can be attributed to the rising emphasis on improving farm production and productivity. Precision agriculture has the ability to change the agricultural paradigm by making conventional farming practices more productive and predictable.
  • In 2017, Asia-Pacific held the largest Agriculture IoT Market share. This dominance is due to population growth, coupled with increased food demand in the region. Furthermore, the government’s initiative to use remote sensing technology to gather ground data and satellite imagery to detect agricultural conditions in different regions is expected to further improve the demand growth.
  • During the forecast period, Europe is projected to hold the second-largest Agriculture IoT Market share. European farmers are already using smart agricultural technologies such as yield tracking, GNSS technology in guidance and steering, variable rate application, and crop scouting.

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By System

  • Automation and control systems
  • Sensing and monitoring devices
  • Livestock monitoring hardware
  • Fish farming hardware
  • Smart greenhouse hardware
  • Software.

By Application

  • Precision farming
  • Livestock monitoring
  • Smart greenhouse
  • Fish farm monitoring.

Some of the Major Players Analyzed in the Global Agriculture IoT Market Report Include

  • Cisco Systems, Inc.
  • International Business Management Corporation (IBM)
  • Telit, Hitachi, Ltd
  • Decisive Farming
  • Trimble Inc.
  • OnFarm Systems Inc.
  • Farmers Edge Inc
  • SlantRange, Inc.
  • The Climate Corporation.

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  • Agriculture Analytics Market Report

In 2019, the global Agriculture Analytics market size was USD 548.9 Million and it is expected to reach USD 1060.5 Million by the end of 2026, at a CAGR of 9.8% during 2021-2026.

The major drivers for the growth of Agriculture Analytics Market size are government measures to implement modern farming techniques, rising competition to meet global food demand and improving farm productivity.

The major vendors include Deere & Company, IBM, SAP SE, Trimble, Monsanto Company, Oracle, Accenture, Iteris, Taranis, Agribotix, Agrivi, DTN, aWhere, Granular, Proagrica, etc. This report focuses on the global Agriculture Analytics status, future forecast, growth opportunity, key market and key players.

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  • IoT in Smart Farming Market Report

The scale of the IoT market in agriculture varies greatly across regions due to technological growth speed. In North America, a growing number of companies provide IoT solutions to improve agricultural production and maximize the advantages of incorporating emerging technologies, such as 5 G and cloud computing with IoT applications, which help streamline farming businesses.

The IoT in Smart Farming Market report includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry.

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  • Livestock Monitoring Market Report

The livestock monitoring market is anticipated to grow rapidly owing to the growing size of dairy farms, technological advancements and new product launches, and substantial cost savings associated with livestock monitoring management.

The Livestock Monitoring market is analyzed, and market size information is provided by regions (countries). This report also analyzes the impact of Coronavirus COVID-19 on the Livestock Monitoring industry.

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  • Smart Agriculture Market

The global Smart Agriculture market size will reach USD 6385.13 Million in 2026, from USD 3428.48 Million in 2019, with a CAGR of 9.59% from 2020 to 2026.

The Smart Agriculture Market size is driven by factors such as the increasing strain on the food supply system due to the increasingly growing population, the increasing use of new technology in farming, the growing focus of farmers on livestock monitoring and disease detection and the increasing emphasis on reducing the number of animals.

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  • Smart Agriculture Sensors Market Report

The main factors driving Smart Agriculture Sensors Market size include the growing use of agricultural sensors in precision farming, growing collaborations between agrochemical firms, and providers of agricultural sensors. 

The major players in the market include Vishay, Honeywell, Texas Instruments, Auroras s.r.l., Bosch, Avidor High Tech, Libelium, Sol Chip Ltd, Pycno Agriculture, CropX Inc, Trimble Inc, Sentera, LLC., The Yield Pty Ltd, etc.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market positively or negatively.

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  • Crop Management Software Market Report

The key regions covered in the Crop Management Software market report are North America, Europe, China, Japan, Southeast Asia, India, and Central & South America, etc.

The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type and application segment in terms of revenue for 2015-2026.

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  • Crop Monitoring Technology in Precision Farming Market Report

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  • Farm Management Systems Market Report

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