IoT in Agriculture Market (System - Automation & Control Systems, Sensing & Monitoring Devices, Livestock Monitoring Hardware, Fish Farming Hardware, Smart Greenhouse Hardware, and Software; Application - Precision Farming, Livestock Monitoring, Smart Greenhouses, Monitor Climate Conditions, Remote Sensing, and Computer Imaging): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

IoT in Agriculture Market (System - Automation & Control Systems, Sensing & Monitoring Devices, Livestock Monitoring Hardware, Fish Farming Hardware, Smart Greenhouse Hardware, and Software; Application - Precision Farming, Livestock Monitoring, Smart Greenhouses, Monitor Climate Conditions, Remote Sensing, and Computer Imaging): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Report Code: IGR0946 Category: Agriculture & Agrochemicals Published: June, 2024

A recent report published by Infinium Global Research on IoT in agriculture market provides in-depth analysis of segments and sub-segments in the global as well as regional IoT in agriculture market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional IoT in agriculture market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global IoT in agriculture market.

Market Insight:

The global IoT in agriculture market was valued at USD 13.01 billion in 2022 and is expected to reach USD 27.86 billion in 2030, with a CAGR of 10.01% during the forecast period of 2023-2030.

IoT is the interconnected things that are fixed with network connectivity, software, sensors, and other electronics that enable them to exchange and receive data. IoT in the agriculture sector involves IoT-based technological superior equipment, solutions, systems, and devices to minimize wastage of energy, enhance operational efficiency, and increase yield in real-time field data storage, data collection, advancement of control platforms, and data analysis. The utilization of IoT in the agriculture industry is supporting farmers to control the water level, which enhances the irrigation method. IoT is used for livestock monitoring, precision farming, fish farm monitoring, and smart greenhouses which increase productivity and profitability.

The IoT in the agriculture market is enhanced by the utilization of advanced technologies for cultivating sustainable and reliable farming methods for increasing productivity. The rising adoption of remote sensing, monitoring technologies, and VRT by farmers worldwide is driving the growth of the market. The increase in the worldwide population and food demand has propelled the adoption of advanced technologies to increase production. The employment of the latest technologies benefits and optimizes resource utilization and large-yield production. The development in the field of cloud computing, IoT, and big data will have a positive impact on the expansion of this market. Food manufacturers in the world are also using advanced technologies and devices to efficiently store produced oilseeds and grains so they can be utilized for a long time. Thus, implementing IoT devices for various purposes, in the food industry, is augmenting the market growth. Furthermore, the increasing demand for food and decreasing cultivated land globally are also a major factor contributing to the growth of the market. With the help of IoT devices and systems, the crop can be monitored and the excessive use of fertilizer can be reduced. This in turn will support cultivating the crop with fewer fertilizers. However, the upfront cost of the equipment can hamper the growth of the market. Nonetheless, increasing adoption of drones and UAVs for sparing fertilizers and monitoring purposes will create ample growth opportunities for the market. With the use of drones and UAVs, farmers can save time and money needed for operations and can more effectively cultivate the crop.

The global IoT in agriculture market is geographically segmented into North America, Europe, Asia Pacific, and the rest of the world. Among the regions, The North America region is expected to hold the largest share of the market in terms of revenue. This is primarily due to the escalating demand for advanced agricultural technologies in the region. The growth of the North American market can be attributed to the increasing need for innovative farming solutions driven by rising food demands and the necessity to improve agricultural productivity. In North America, both the United States and Canada have been at the forefront of adopting cutting-edge agricultural technologies. The region's farmers and agribusinesses are increasingly turning to IoT solutions to enhance crop management, optimize resource utilization, and increase yield efficiency. The implementation of technologies such as remote sensing, automated monitoring systems, and others are transforming traditional farming practices, leading to more sustainable and productive outcomes. Moreover, the Asia Pacific region is expected to grow at a significant rate during the forecast period owing to the increasing adoption of advanced agricultural technologies. Countries such as China, India, and Australia are investing heavily in IoT solutions to enhance agricultural productivity and sustainability. Farmers in these countries are recognizing the benefits of IoT applications, such as remote sensing, automated monitoring, and precision farming, which help optimize resource use and improve crop yields.

Report Scope of the IoT in Agriculture Market:

Report Coverage Details
Market Size in 2022 USD 13.01 Billion
Market Size by 2030 USD 27.86 Billion
Growth Rate from 2023 to 2030 CAGR of 10.01%
Largest Market North America
No. of Pages 180
Market Drivers
  • The rising adoption of remote sensing, monitoring technologies, and VRT by farmers worldwide is driving the growth of the market.

  • The increasing demand for food and decreasing cultivate land globally is also a major factor contributing to the growth of the market.

Market Segmentation By System, and By Application
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global IoT in agriculture market covers segments such as system, and application. On the basis of system, the sub-markets include automation & control systems, sensing & monitoring devices, livestock monitoring hardware, fish farming hardware, smart greenhouse hardware, and software. On the basis of application, the sub-markets include precision farming, livestock monitoring, smart greenhouses, monitor climate conditions, remote sensing, and computer imaging.

Companies Profiled:

The report provides profiles of the companies in the market such as Deere and Company, DeLaval, Raven Industries, Inc., Trimble Inc., Innovasea Systems Inc., AKVA Group, Climate LLC., CropX inc., Hexagon AB, and TeeJet Technologies.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the IoT in agriculture market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Frequently Asked Questions (FAQ's)

The global IoT in agriculture market was valued at USD 13.01 Billion in 2022.
It is likely to grow at a CAGR of 10.01% during the forecast period 2023-2030.
The global IoT in agriculture market is estimated to reach USD 27.86 Billion by the end of 2030.
North America is anticipated to exhibit high demand for IoT in agriculture market during the forecast period.
Deere and Company, DeLaval, Raven Industries, Inc., Trimble Inc., Innovasea Systems Inc., AKVA Group, Climate LLC., CropX inc., Hexagon AB, and TeeJet Technologies.

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