According to a new market research report published by Global Insight Services “Agriculture IoT Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
The Agriculture IoT is the application of the Internet of Things technology to the agricultural sector. The Agriculture IoT includes sensors, devices, and software that are used to collect data and information about crops, livestock, and other aspects of agriculture. This data is then used to improve the efficiency of agricultural production, including the management of irrigation, fertilization, and pest control.
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Key Companies
The key players operating in the agriculture IoT market include Deere & Company , Trimble Inc, AGCO Corporation, DeLaval , Raven Industries Inc. , GEA Group AG , Komatsu Ltd, Ponsse PLC , Farmer Edge Inc, DICKEY-john , CropX, Inc, The Climate Corporation, Topcon Positioning Systems, Inc, AgJunction Inc, Antelliq Corporation, and TeeJet Technologies .
Key Trends
There are four key trends in Agriculture IoT technology:
1. Increased connectivity and data sharing: Farmers are using more and more connected devices to collect data about their crops and soil. This data is then shared with other farmers, agronomists, and agricultural researchers to help improve yields and decrease inputs.
2. Automation and machine learning: Farmers are using automation and machine learning to automate tasks such as crop monitoring, irrigation, and fertilizer application. This reduces the need for manual labor, freeing up farmers’ time to focus on other tasks.
3. Precision agriculture: Farmers are using precision agriculture techniques to target specific areas of their fields with inputs such as water, fertilizer, and pesticides. This allows them to use inputs more efficiently and reduce wastage.
4. Sustainability: Farmers are increasingly using sustainable practices such as no-till farming and cover cropping to reduce their impact on the environment.
Key Drivers
There are several key drivers of the agriculture IoT market. One is the increasing demand for food globally. The world population is projected to reach 9.7 billion by 2050, and the United Nations estimates that food production will need to increase by 70% to meet this demand. Agriculture IoT can help farmers increase yields and produce food more efficiently.
Another key driver is the need for sustainability. Agriculture is a major contributor to climate change, accounting for about 10% of global greenhouse gas emissions. Agriculture IoT can help farmers reduce their environmental impact by using data to optimize irrigation, fertilizer use, and other inputs.
Finally, the increasing cost of farm inputs is a key driver of the agriculture IoT market. Farm inputs such as seed, fertilizer, and pesticides have been getting more expensive in recent years, and this trend is expected to continue. Agriculture IoT can help farmers reduce their input costs by using data to improve their decision-making.
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Market Segments
The global Agriculture IoT Market is segmented based on system, application, farm type and region. By system, it is classified into automation and control systems, sensing and monitoring devices, livestock monitoring hardware, fish farming hardware, smart greenhouse hardware, and software. Based on application, it is divided into precision farming, livestock monitoring, smart greenhouse, and fish farm monitoring. By farm type, the market is segmented into large, mid-sized and small farms. Region-wise, it is studied across North America, Europe, Asia-Pacific, and the rest of the world.
Reasons to buy Agriculture IoT Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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