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IoT in Agriculture Market (System - Automation and Control Systems, Sensing and Monitoring Devices, Livestock Monitoring Hardware, and Fish Farming Hardware; Application - Precision Farming, Livestock Monitoring, Smart Greenhouses, Monitor Climate Conditions, Remote Sensing, and Computer Imaging): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

IoT in Agriculture Market (System - Automation and Control Systems, Sensing and Monitoring Devices, Livestock Monitoring Hardware, and Fish Farming Hardware; Application - Precision Farming, Livestock Monitoring, Smart Greenhouses, Monitor Climate Conditions, Remote Sensing, and Computer Imaging): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: AC0067 Category: Agriculture & Agrochemicals Published: December, 2022

A recent report published by Infinium Global Research on IoT in agriculture market provides an 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 the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global IoT in agriculture market. According to the report, the global IoT in agriculture market is projected to grow at a CAGR of over 10% during the forecast period of 2022-2028. 

Market Insight

The global IoT in agriculture market was valued at nearly USD 13 billion in 2022 and is expected to reach about USD 23 billion in 2028, with a CAGR of over 10% during the forecast period. IoT is the interconnected things that are fixed with network connectivity, software, sensors, and other electronics which enable them to exchange and receive data. IoT in 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 market is basically 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 cultivate land globally is 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. Moreover, increasing adoption of the drones and UAVs for sparing fertilizers and for 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. However, the lack of awareness among farmers about IoT technology is the major factor restraining the growth of the Market. Agriculture needs huge management of data which is an important challenge for the application of IoT in agriculture. 


IoT in Agriculture Market


Geographically, the IoT in agriculture market in North America is expected to hold the largest share of the market owing to the increasing demand for advanced agriculture technology in developing countries. The growth of the region is attributed to the increasing hygiene concern, along with the increasing food demand in the region. Furthermore, the supportive government initiative for the utilization of advanced technology to collect satellite descriptions and ground data to recognize agricultural conditions in various regions is projected to enhance the demand. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to the increasing utilization of drones for monitoring and cultivating the crop. The increasing population in developing countries such as India and China increases food consumption which is contributing to the growth.           

Segment Covered

The report on global IoT in agriculture market covers segments such as system, and applications. On the basis of the system, the sub-markets include automation and control systems, sensing and monitoring devices, livestock monitoring hardware, and fish farming hardware. On the basis of applications, 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, Trimble Inc., Innovasea Systems, AKVA Group, FishGLOBE, CropX inc., Hexagon AB, and Teejet Technologies Illinois, LLC. 

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 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 IoT in the agriculture market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. 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 insight into the market share of the leading players.


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