Information and Communication Technology Agriculture IoT Market is projected to grow up to 10.2% CAGR during the forecasting period...

Agriculture IoT Market is projected to grow up to 10.2% CAGR during the forecasting period 2021-2027.

In agriculture, IoT combines robots, drones, remote sensors and computer photography in conjunction with the ongoing advancement of engine learning and analytical tools for crop monitoring, field monitoring and mapping, and data for efficient farm management plans provided to farmers. With the rising population and demand for food, it is becoming increasingly important for the agricultural business to integrate IoT into various agricultural processes. Climate change and other environmental repercussions from intensive farming practises are posing a challenge to the growing need for food. As a result, several IoT solutions are being introduced by innovators and technology providers in order to streamline agricultural processes, create large amounts of data, and perform various analytical approaches to tackle these difficulties. The precision aquaculture application segment of the agriculture IoT market is expected to grow at the fastest rate during the forecast period. The rapid growth of the agriculture IoT market in aquaculture farm monitoring applications is due to increasing need for real-time tracking of fishing activity. The study examines the market's drivers, restraints, opportunities, and challenges in the agriculture IoT sector. In addition to the quantitative features of these marketplaces, the research also addresses qualitative aspects.

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Key Driving Factors: Farmers around the world are adopting VRT, remote sensing, and guidance technology at a faster rate.

Precise farming may guarantee excellent returns for farmers, if employed with full potential, by gathering geospatial soil, animal and plant and other intra-field information, to fight the detrimental impact of nature on cropland. In addition, precision farming offers insights on irrigation requirements, liquid fertilisers, nutrients, herbicides and insecticides, hence decreasing resource wastage and overall agricultural costs. In agricultural practises, advanced technologies, such as remote sensing, variable rates (VRT), guidance technologies, software for efficiency mapping, GPS and data-management software help to increase land fertility and profitability, facilitate sustainability, maximise productivity, reduce agricultural costs and lower overhead labour costs.

Opportunities: In agricultural farms, the use of unmanned aerial vehicles  or drones is increasing.

Unmanned aerial vehicles or drones are rapidly transitioning from battlefields to agricultural fields, capturing highly accurate aerial photos up to hundreds of hectares/acres in a single flight and saving a significant amount of money. Agricultural drones are less expensive than surveillance drones, and they have advanced sensors and imaging capabilities that give farmers new opportunities to boost crop productivity while decreasing resource waste.

This report offers the major market player’s profiles, such as Deere and Company (U.S.), Trimble Inc. (U.S.), AGCO Corporation (U.S.), Raven Industries (U.S.), Delaval (Sweden), GEA Group (Germany), Agjunction (U.S.), Antelliq (France), Ponsse (Finland), Komatsu Forest (Sweden), Farmer's Edge Inc. (U.S.), The Climate Corporation (U.S.), DICKEY-john (U.S.), CropMetrics LLC (U.S.) among others. 

Based on Application:  In 2020, the precision farming category held the greatest share of the total agriculture IoT market. The growing need for high yield technologies, the availability of limited arable land, and the development of new precision farming solutions are all contributing to the expansion of this category. Precision farming benefits farmers by increasing yields, increasing production profitability, improving labour conditions, improving animal welfare, and improving different elements of environmental stewardship. Precision farming thus adds to the larger goal of agricultural production sustainability. During the projected period, however, the smart greenhouse segment is expected to grow at the quickest CAGR. Factors such as the paucity of water for agriculture, government assistance, and high yield output from greenhouses are all contributing to this segment's rapid expansion.The Agriculture IoT Market report has been categorized as below

By Hardware Type

  • Precision Farming Hardware

  • Precision Livestock Hardware

  • Precision Aquaculture Hardware

  • Precision Forestry Hardware

  • Smart Greenhouses Hardware

  • Others Hardware

By Farm Type

  • Large

  • Mid-Sized

  • Small Farms

By Farm Production Planning Stage

  • Pre-Production Planning

  • Production Planning

  • Post-Production Planning

By Application

  • Precision Farming

  • Precision Livestock

  • Precision Aquaculture

  • Precision Forestry

  • Smart Greenhouses

  • Others

By Region

  • North America

  •  Europe

  • Asia Pacific

  • Rest of World

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Published Date : July-2021