Global IoT in Agriculture Market: Focus on Application, Product, and Country-Wise Analysis - Analysis and Forecast, 2023-2033
Introduction of IoT in Agriculture The relevance of IoT in the agriculture business cannot be emphasized, as it offers a tremendous leap forward in the potential to control and optimize agricult... もっと見る
SummaryIntroduction of IoT in AgricultureThe relevance of IoT in the agriculture business cannot be emphasized, as it offers a tremendous leap forward in the potential to control and optimize agricultural processes. Farmers and agribusinesses who use IoT get access to a variety of real-time data from sensors that monitor soil moisture, crop health, weather conditions, and other variables. This data is used in advanced analytics to enable precision farming, which allows for the precise application of water, fertilizers, and pesticides, lowering costs and environmental impact while increasing yield and quality. Furthermore, IoT technology allows for the automation of agricultural activities ranging from planting to harvesting, which can help to alleviate manpower shortages and increase production. The use of IoT in agriculture not only improves efficiency and sustainability but also contributes to food security by allowing smarter, more responsive agricultural systems that can adjust to changing climatic circumstances and rising global demand. Market Introduction In the early days of the Internet of Things (IoT) in agriculture, the industry was defined by the early acceptance of basic sensor-based technologies and the limited use of connected devices. These were primarily used to monitor environmental factors such as soil moisture and temperature, which are important for crop health. Early IoT apps enabled farmers to get information about these circumstances, allowing them to water or ventilate their crops in real time rather than using less accurate planned or reactive procedures. These early shifts toward smart farming were revolutionary, introducing a degree of data-driven decision-making that had previously been inaccessible in the agriculture industry. However, the functionality of these systems was very simple, missing the complex analytics and automation capabilities that define today's level of IoT in agriculture. The modern agricultural sector uses the Internet of Things (IoT) to transform farming processes, resulting in what is commonly referred to as 'Precision Agriculture.' The Internet of Things enables a network of smart devices to interact and automate decision-making processes in real time. Sensors distributed across fields capture data on soil moisture, nutrient levels, meteorological conditions, and crop health and send it to central management systems. Farmers and agribusinesses use this data to make educated decisions about when to plant, water, and harvest, reducing waste while increasing yields. Drones with superior imaging technology monitor crop health from above, while self-driving tractors and harvesters operate with GPS precision, lowering labor requirements and boosting field management. The incorporation of IoT technology thereby simplifies agricultural operations, increases resource efficiency, improves product quality, and promotes sustainability, signaling a substantial shift from traditional farming practices to a more data-centric strategy in agriculture. Industrial Impact The Internet of Things (IoT) has had a disruptive industrial influence on the agriculture business, prompting a fundamental rethinking of agricultural techniques and supply chain management. The introduction of the Internet of Things (IoT) into agriculture, often known as ‘smart farming,' has resulted in a data-driven business. Sensors placed across fields assess a range of characteristics, including temperature, humidity, soil moisture, and crop health, allowing farmers to make better-informed decisions. The real-time data acquired aids in the correct application of water, fertilizers, and pesticides, lowering costs and minimizing environmental effects. Furthermore, with IoT, agricultural machinery such as tractors and harvesters are becoming more self-sufficient, enhancing operating efficiency. On a larger scale, the use of IoT technology in agriculture is causing alterations in labor dynamics, investment patterns, and even regional development strategies. As farms become more technologically advanced, there is a greater demand for a workforce that is proficient in both agriculture and technology, resulting in the development of new educational and training programs. Furthermore, the data-centric approach of IoT is drawing substantial investment from technology firms, venture capitalists, and even governments, all looking to capitalize on the efficiency and opportunities it offers. The industrial environment is being transformed, with technology providers and agribusinesses forming strategic partnerships and alliances to harness IoT to gain a competitive advantage in the ever-changing agriculture industry. Market Segmentation: Segmentation 1: by Application • Precision Crop Farming • Livestock Monitoring and Management • Indoor Farming • Aquaculture • Others Precision Crop Farming Segment to Dominate the Global IoT in Agriculture Market (by Application) The IoT in agriculture market is led by the precision crop farming segment, with a $7,829.3 million in 2022 in terms of revenue. Increasing demand for precision farming techniques is driving the growth of the IoT in agriculture industry. Precision farming can rigorously monitor and control the micro-variables of farming by integrating IoT sensors, devices, and platforms, ranging from soil moisture levels and nutrient content to microclimate conditions and plant health. This detailed level of data collecting allows for the precise distribution of water, fertilizers, and pesticides where they are required, dramatically decreasing waste and environmental effects. IoT-enabled devices may automate irrigation and application systems, resulting in accurate and timely interventions that maximize plant growth and production. Segmentation 2: by Component • Hardware o Processors and Sensors o Communication Modules o Others • Software Software Segment to Witness the Highest Growth between 2023 and 2033 The software segment dominated the global IoT in agriculture market (by component) in 2023, with a $9,748.8 million in terms of revenue due to the need to be integrated into various platforms to carry out the tasks. Segmentation 3: by Region • North America - U.S., Canada, and Mexico • Europe - U.K., Germany, France, Spain, Italy, Netherlands, Denmark, and Rest-of-Europe • Asia-Pacific - Japan, India, China, Australia and New Zealand, Indonesia, Vietnam, Malaysia, and Rest-of-Asia-Pacific • Rest-of-the-World Asia-Pacific was the highest-growing market among all the regions, registering a CAGR of 14.93%. Rest-of-the-World is anticipated to gain traction in terms of IoT in agriculture adoption owing to the growing demand for modern agricultural methods among countries. Moreover, favorable government policies are also expected to support the growth of the IoT in agriculture market in North America and Europe during the forecast period. In North America, the U.S. is anticipated to show the highest growth in the IoT in agriculture market among other countries in North America. The U.S. is anticipated to grow at a CAGR of 12.67%. The growth of the U.S. in the IoT in agriculture market is mainly due to the factor that the U.S. has a robust start-up ecosystem that drives innovation in the agricultural IoT sector. Start-ups such as Farmers Edge and Arable Labs are pushing this innovation by offering cutting-edge solutions. Recent Developments in the IoT in Agriculture Market • In April 2023, Bosch announced that it would collaborate with AGCO Corporation to integrate and commercialize Smart Spraying technology on Fendt Rogator sprayers, as well as create further innovative features. • In January 2024, Deere & Company established a partnership with SpaceX to deliver cutting-edge satellite communications (SATCOM) services to farmers. Using the industry-leading Starlink network, this solution would enable farmers experiencing rural connectivity issues to utilize precision agricultural tools fully. • In March 2023, Bayer and Microsoft formalized their cooperation, which they announced a little over a year ago, to develop a cloud-based collection of data tools and data science solutions for the food and agriculture industries. Demand – Drivers and Limitations Market Drivers: Increase in Demand for Agricultural Efficiency and Productivity As labor shortages and agricultural input costs grow, there is an urgent need to enhance operational efficiency. IoT technology allows for automation in a variety of farming processes, lowering labor costs and enhancing efficiency. AGCO Corporation, for example, provides modern farming gear with IoT capabilities that automate processes such as planting, harvesting, and data gathering. Market Opportunities: Integration of IoT in Robotics Integrating IoT in agricultural robots offers considerable cost reductions and efficiency improvements. For example, robotic systems outfitted with IoT sensors can outperform human labor in operations such as harvesting, weeding, and planting. The cost of establishing such systems varies, but a mid-sized IoT-enabled agricultural robot may range from $30,000 to $100,000, depending on its capability and sophistication. Over time, the return on investment is frequently recovered through labor cost reductions and greater agricultural yields. How can this report add value to an organization? Product/Innovation Strategy: The product segment helps the reader understand the different types of components available for deployment and their potential globally. Moreover, the study provides the reader with a detailed understanding of the IoT in agriculture market by application on the basis of application (precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others) and product on the basis of component (hardware and software). Growth/Marketing Strategy: The IoT in agriculture market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been partnerships and contracts to strengthen their position in the IoT in agriculture market. For instance, in May 2023, Deere & Company revealed that it was bringing its sensing technology down to plant seed level. Not only can seeds be planted quickly with Deere's automated seeding technology, which can fire over 1,000 seeds per second, but John Deere has also created a new enhanced seeding-fertilizer capability aided by sophisticated and accurate tracking technologies. Competitive Strategy: Key players in the IoT in agriculture market analyzed and profiled in the study involve major IoT in agriculture, offering companies providing IoT in agriculture for the purpose. Moreover, a detailed competitive benchmarking of the players operating in the IoT in agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market. Methodology: The research methodology design adopted for this specific study includes a mix of data collected from primary and secondary data sources. Both primary resources (key players, market leaders, and in-house experts) and secondary research (a host of paid and unpaid databases), along with analytical tools, are employed to build the predictive and forecast models. Data and validation have been taken into consideration from both primary sources as well as secondary sources. Key Considerations and Assumptions in Market Engineering and Validation • Detailed secondary research has been done to ensure maximum coverage of manufacturers/suppliers operational in a country. • Exact revenue information, up to a certain extent, will be extracted for each company from secondary sources and databases. Revenues specific to product/service/technology will then be estimated for each market player based on fact-based proxy indicators as well as primary inputs. • Based on the classification, the average selling price (ASP) is calculated using the weighted average method. • The currency conversion rate has been taken from the historical exchange rate of Oanda and/or other relevant websites. • Any economic downturn in the future has not been taken into consideration for the market estimation and forecast. • The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year. • The term “product” in this document may refer to “platform” as and where relevant. • The term “manufacturers/suppliers” may refer to “systems providers” or “technology providers” as and where relevant. Primary Research The primary sources involve industry experts from the agritech industry, including IoT in agriculture, agriculture/farming-related industries, and IoT in agriculture component manufacturers. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study. Secondary Research This study involves the usage of extensive secondary research, company websites, directories, and annual reports. It also makes use of databases, such as Spacenews, Businessweek, and others, to collect effective and useful information for a market-oriented, technical, commercial, and extensive study of the global market. In addition to the data sources, the study has been undertaken with the help of other data sources and websites, such as www.nasa.gov. Secondary research was done to obtain critical information about the industry’s value chain, the market’s monetary chain, revenue models, the total pool of key players, and the current and potential use cases and applications. Key Market Players and Competition Synopsis The companies that are profiled have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts. The IoT in agriculture market comprises key players who have established themselves thoroughly and have the proper understanding of the market, accompanied by start-ups who are looking forward to establishing themselves in this highly competitive market. In 2022, the IoT in agriculture market was dominated by established players, accounting for 73% of the market share, whereas the start-ups managed to capture 27% of the market. With the growth in advancements in agricultural technologies among the nations, more players will enter the global IoT in agriculture market with each passing year. Some prominent names established in this market are: • Deere & Company • Microsoft • CNH Industrial N.V • Robert Bosch GmbH • Kalera Inc. • Heliospectra AB • Signify Holding • AKVA Group ASA • Eruvaka Technologies • AGRIVI • Climate LLC • AeroFarms Table of ContentsExecutive SummaryScope and Definition 1 Markets 1.1 Trends: Current and Future Impact Assessment 1.1.1 Trends: Overview 1.1.2 Agricultural Drones 1.1.3 Autonomous Systems and Agricultural Robots 1.1.4 Blockchain for Traceability 1.2 Supply Chain Analysis 1.2.1 Value Chain Analysis 1.3 Research and Development Review 1.3.1 Patent Filing Trend (by Country, Number of Patents) 1.4 Regulatory Landscape 1.5 Market Dynamics Overview 1.5.1 Market Drivers 1.5.1.1 Increase in Demand for Agricultural Efficiency and Productivity 1.5.1.2 Advancements in Agricultural Technologies 1.5.1.3 Rise in Adoption of Precision Farming 1.5.2 Market Restraints 1.5.2.1 Lack of Trained Personnel 1.5.2.2 High Initial Investment Costs 1.5.3 Market Opportunities 1.5.3.1 Integration of IoT in Robotics 1.5.3.2 Livestock Monitoring and Management 2 Application 2.1 Application Segmentation 2.2 Application Summary 2.3 Global IoT in Agriculture Market (by Application) 2.3.1 Applications 2.3.1.1 Precision Crop Farming 2.3.1.2 Livestock Monitoring and Management 2.3.1.3 Indoor Farming 2.3.1.4 Aquaculture 2.3.1.5 Others 3 Products 3.1 Product Segmentation 3.2 Product Summary 3.3 Global IoT in Agriculture Market (by Component) 3.3.1 Product 3.3.1.1 Hardware 3.3.1.1.1 Processors and Sensors 3.3.1.1.2 Communication Modules 3.3.1.1.2.1 Wi-Fi 3.3.1.1.2.2 Bluetooth 3.3.1.1.2.3 Cellular 3.3.1.1.2.4 Others 3.3.1.1.2.4.1 Radio-Frequency Distribution (RFID) 3.3.1.1.2.4.2 Satellite Communications 3.3.1.1.2.4.3 LoRaWAN 3.3.1.1.3 Others 3.3.1.1.3.1 Actuators 3.3.1.1.3.2 Cameras 3.3.1.1.3.3 Imaging Devices 3.3.1.2 Software 4 Regions 4.1 Regional Summary 4.2 Drivers and Restraints 4.3 North America 4.3.1 Regional Overview 4.3.2 Driving Factors for Market Growth 4.3.3 Factors Challenging the Market 4.3.4 Application 4.3.5 Product 4.3.6 U.S. 4.3.7 Application 4.3.8 Product 4.3.9 Canada 4.3.10 Application 4.3.11 Product 4.3.12 Mexico 4.3.13 Application 4.3.14 Product 4.4 Europe 4.4.1 Regional Overview 4.4.2 Driving Factors for Market Growth 4.4.3 Factors Challenging the Market 4.4.4 Application 4.4.5 Product 4.4.6 France 4.4.7 Application 4.4.8 Product 4.4.9 Germany 4.4.10 Application 4.4.11 Product 4.4.12 U.K. 4.4.13 Application 4.4.14 Product 4.4.15 Spain 4.4.16 Application 4.4.17 Product 4.4.18 Italy 4.4.19 Application 4.4.20 Product 4.4.21 Netherlands 4.4.22 Application 4.4.23 Product 4.4.24 Denmark 4.4.25 Application 4.4.26 Product 4.4.27 Rest-of-Europe 4.4.28 Application 4.4.29 Product 4.5 Asia-Pacific 4.5.1 Regional Overview 4.5.2 Driving Factors for Market Growth 4.5.3 Factors Challenging the Market 4.5.4 Application 4.5.5 Product 4.5.6 China 4.5.7 Application 4.5.8 Product 4.5.9 India 4.5.10 Application 4.5.11 Product 4.5.12 Japan 4.5.13 Application 4.5.14 Product 4.5.15 Australia and New Zealand 4.5.16 Application 4.5.17 Product 4.5.18 Indonesia 4.5.19 Application 4.5.20 Product 4.5.21 Vietnam 4.5.22 Product 4.5.23 Product 4.5.24 Malaysia 4.5.25 Application 4.5.26 Product 4.5.27 Rest-of-Asia-Pacific 4.5.28 Product 4.6 Rest-of-the-World 4.6.1 South America 4.6.2 Regional Overview 4.6.3 Driving Factors for Market Growth 4.6.4 Factors Challenging the Market 4.6.5 Application 4.6.6 Product 4.6.7 Brazil 4.6.8 Application 4.6.9 Product 4.6.10 Argentina 4.6.11 Application 4.6.12 Product 4.6.13 Rest-of-South America 4.6.14 Application 4.6.15 Product 4.6.16 Middle East and Africa 4.6.17 Regional Overview 4.6.18 Driving Factors for Market Growth 4.6.19 Factors Challenging the Market 4.6.20 Application 4.6.21 Product 4.6.22 Africa 4.6.23 Application 4.6.24 Product 5 Markets – Competitive Benchmarking & Company Profiles 5.1 Next Frontiers 5.2 Geographic Assessment 5.2.1 Deere & Company 5.2.1.1 Overview 5.2.1.2 Top Products/Product Portfolio 5.2.1.3 Top Competitors 5.2.1.4 Target Customers 5.2.1.5 Key Personnel 5.2.1.6 Analyst View 5.2.1.7 Market Share 5.2.2 Microsoft 5.2.2.1 Overview 5.2.2.2 Top Products/Product Portfolio 5.2.2.3 Top Competitors 5.2.2.4 Target Customers 5.2.2.5 Key Personnel 5.2.2.6 Analyst View 5.2.2.7 Market Share 5.2.3 CNH Industrial N.V. 5.2.3.1 Overview 5.2.3.2 Top Products/Product Portfolio 5.2.3.3 Top Competitors 5.2.3.4 Target Customers 5.2.3.5 Key Personnel 5.2.3.6 Analyst View 5.2.3.7 Market Share 5.2.4 Robert Bosch GmbH 5.2.4.1 Overview 5.2.4.2 Top Products/Product Portfolio 5.2.4.3 Top Competitors 5.2.4.4 Target Customers 5.2.4.5 Key Personnel 5.2.4.6 Analyst View 5.2.4.7 Market Share 5.2.5 Kalera Inc. 5.2.5.1 Overview 5.2.5.2 Top Products/Product Portfolio 5.2.5.3 Top Competitors 5.2.5.4 Target Customers 5.2.5.5 Key Personnel 5.2.5.6 Analyst View 5.2.5.7 Market Share 5.2.6 Heliospectra AB 5.2.6.1 Overview 5.2.6.2 Top Products/Product Portfolio 5.2.6.3 Top Competitors 5.2.6.4 Target Customers 5.2.6.5 Key Personnel 5.2.6.6 Analyst View 5.2.6.7 Market Share 5.2.7 Signify Holding 5.2.7.1 Overview 5.2.7.2 Top Products/Product Portfolio 5.2.7.3 Top Competitors 5.2.7.4 Target Customers 5.2.7.5 Key Personnel 5.2.7.6 Analyst View 5.2.7.7 Market Share 5.2.8 AKVA Group ASA 5.2.8.1 Overview 5.2.8.2 Top Products/Product Portfolio 5.2.8.3 Top Competitors 5.2.8.4 Target Customers 5.2.8.5 Key Personnel 5.2.8.6 Analyst View 5.2.8.7 Market Share 5.2.9 Eruvaka Technologies 5.2.9.1 Overview 5.2.9.2 Top Products/Product Portfolio 5.2.9.3 Top Competitors 5.2.9.4 Target Customers 5.2.9.5 Key Personnel 5.2.9.6 Analyst View 5.2.9.7 Market Share 5.2.10 AGRIVI 5.2.10.1 Overview 5.2.10.2 Top Products/Product Portfolio 5.2.10.3 Top Competitors 5.2.10.4 Target Customers 5.2.10.5 Key Personnel 5.2.10.6 Analyst View 5.2.10.7 Market Share 5.2.11 Climate LLC 5.2.11.1 Overview 5.2.11.2 Top Products/Product Portfolio 5.2.11.3 Top Competitors 5.2.11.4 Target Customers 5.2.11.5 Key Personnel 5.2.11.6 Analyst View 5.2.11.7 Market Share 5.2.1 AeroFarms 5.2.1.1 Overview 5.2.1.2 Top Products/Product Portfolio 5.2.1.3 Top Competitors 5.2.1.4 Target Customers 5.2.1.5 Key Personnel 5.2.1.6 Analyst View 5.2.1.7 Market Share 5.2.2 AmHydro 5.2.2.1 Overview 5.2.2.2 Top Products/Product Portfolio 5.2.2.3 Top Competitors 5.2.2.4 Target Customers 5.2.2.5 Key Personnel 5.2.2.6 Analyst View 5.2.2.7 Market Share 5.2.3 Connecterra B.V. 5.2.3.1 Overview 5.2.3.2 Top Products/Product Portfolio 5.2.3.3 Top Competitors 5.2.3.4 Target Customers 5.2.3.5 Key Personnel 5.2.3.6 Analyst View 5.2.3.7 Market Share 5.2.4 OSRAM GmbH 5.2.4.1 Overview 5.2.4.2 Top Products/Product Portfolio 5.2.4.3 Top Competitors 5.2.4.4 Target Customers 5.2.4.5 Key Personnel 5.2.4.6 Analyst View 5.2.4.7 Market Share 6 Research Methodology 6.1 Data Sources 6.1.1 Primary Data Sources 6.1.2 Secondary Data Sources 6.1.3 Data Triangulation 6.2 Market Estimation and Forecast List of Figures Figure 1: IoT in Agriculture Market (by Region), 2022, 2026, and 2033 Figure 2: IoT in Agriculture Market (by Application), 2022, 2026, and 2033 Figure 3: IoT in Agriculture Market (by Component), 2022, 2026, and 2033 Figure 4: IoT in Agriculture Market, Recent Developments Figure 5: Supply Chain and Risks within the Supply Chain Figure 6: IoT in Agriculture Market (by Number of Patents), January 2020-December 2023 Figure 7: IoT in Agriculture Market (by Country), January 2020-December 2023 Figure 8: Impact Analysis of Market Navigating Factors, 2022-2033 Figure 9: U.S. IoT in Agriculture Market, $Million, 2022-2033 Figure 10: Canada IoT in Agriculture Market, $Million, 2022-2033 Figure 11: Mexico IoT in Agriculture Market, $Million, 2022-2033 Figure 12: France IoT in Agriculture Market, $Million, 2022-2033 Figure 13: Germany IoT in Agriculture Market, $Million, 2022-2033 Figure 14: U.K. IoT in Agriculture Market, $Million, 2022-2033 Figure 15: Spain IoT in Agriculture Market, $Million, 2022-2033 Figure 16: Italy IoT in Agriculture Market, $Million, 2022-2033 Figure 17: Netherlands IoT in Agriculture Market, $Million, 2022-2033 Figure 18: Denmark IoT in Agriculture Market, $Million, 2022-2033 Figure 19: Rest-of-Europe IoT in Agriculture Market, $Million, 2022-2033 Figure 20: China IoT in Agriculture Market, $Million, 2022-2033 Figure 21: India IoT in Agriculture Market, $Million, 2022-2033 Figure 22: Japan IoT in Agriculture Market, $Million, 2022-2033 Figure 23: Australia and New Zealand IoT in Agriculture Market, $Million, 2022-2033 Figure 24: Indonesia IoT in Agriculture Market, $Million, 2022-2033 Figure 25: Vietnam IoT in Agriculture Market, $Million, 2022-2033 Figure 26: Malaysia IoT in Agriculture Market, $Million, 2022-2033 Figure 27: Rest-of-Asia-Pacific IoT in Agriculture Market, $Million, 2022-2033 Figure 28: Brazil IoT in Agriculture Market, $Million, 2022-2033 Figure 29: Argentina IoT in Agriculture Market, $Million, 2022-2033 Figure 30: Rest-of-South America IoT in Agriculture Market, $Million, 2022-2033 Figure 31: Africa IoT in Agriculture Market, $Million, 2022-2033 Figure 32: Strategic Initiatives, 2020-2024 Figure 33: Share of Strategic Initiatives Figure 34: Data Triangulation Figure 35: Top-Down and Bottom-Up Approach Figure 36: Assumptions and Limitations List of Tables Table 1: Market Snapshot Table 2: IoT in Agriculture Market, Opportunities Table 3: IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 4: IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 5: IoT in Agriculture Market (by Region), $Million, 2022-2033 Table 6: IoT in Agriculture Market (by Region), Thousand Unit, 2022-2033 Table 7: North America IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 8: North America IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 9: North America IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 10: U.S. IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 11: U.S. IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 12: U.S. IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 13: Canada IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 14: Canada IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 15: Canada IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 16: Mexico in IoT in Agriculture Market, (by Application), $Million, 2022-2033 Table 17: Mexico IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 18: Mexico IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 19: Europe IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 20: Europe IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 21: Europe IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 22: France IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 23: France IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 24: France IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 25: Germany IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 26: Germany IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 27: Germany IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 28: U.K. IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 29: U.K. IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 30: U.K. IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 31: Spain IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 32: Spain IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 33: Spain IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 34: Italy IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 35: Italy IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 36: Italy IoT in Agriculture Market (by Component), Thousand Unit, 2022-203 Table 37: Netherlands IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 38: Netherlands IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 39: Netherlands IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 40: IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 41: Italy IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 42: Italy IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 43: Rest-of-Europe IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 44: Rest-of-Europe IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 45: Rest-of-Europe IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 46: Asia-Pacific IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 47: Asia-Pacific IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 48: Asia-Pacific IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 49: China IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 50: China IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 51: China IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 52: India IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 53: India IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 54: India IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 55: Japan IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 56: Japan IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 57: Japan IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 58: Australia and New Zealand IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 59: Australia and New Zealand IoT in Agriculture Market (by Component), $Million,2022-2033 Table 60: Australia and New Zealand IoT in Agriculture Market (by Component), Thousand Unit,2022-2033 Table 61: Indonesia IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 62: Indonesia IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 63: Indonesia IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 64: Vietnam IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 65: Vietnam IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 66: Vietnam IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 67: Malaysia IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 68: Malaysia IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 69: Malaysia IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 70: Rest-of-Asia-Pacific IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 71: Rest-of-Asia-Pacific IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 72: Rest-of-Asia-Pacific IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 73: South America IoT in Agriculture Market (by Technology), $Million, 2022-2033 Table 74: South America IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 75: South America IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 76: Brazil IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 77: Brazil IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 78: Brazil IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 79: Argentina IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 80: Argentina IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 81: Argentina IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 82: Rest-of-South America IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 83: Rest-of-South America IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 84: Rest-of-South America IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 85: Middle East and Africa IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 86: Middle East and Africa IoT in Agriculture Market (by Component), $Million, 2022-2033 Table 87: Middle East and Africa IoT in Agriculture Market (by Component), Thousand Unit, 2022-2033 Table 88: Africa IoT in Agriculture Market (by Application), $Million, 2022-2033 Table 89: Africa in Agriculture Market (by Component), $Million, 2022-2033 Table 90: Africa in Agriculture Market (by Component), Thousand Unit, 2022-2033 Press Release
The global IoT in agriculture market is estimated to reach $71.92 bllion by 2033, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 13.57% during the forecast period 2023-2033.
Over the next decade (2024-2033), the IoT in agriculture market is poised for significant evolution and expansion. Over the past few years, the application of IoT in agriculture has enabled smart farming. The integration between technology and farmers’ skills is aimed to produce the best quality and quantity of the commodity. The deployment of technology has resulted in easily carrying out farming activities such as planting, growing, harvesting, and checking crops. Several countries are engaging in international collaborations and partnerships to share knowledge, expertise, and resources to accelerate the development and deployment of IoT in agriculture technologies. USP of the Report • A dedicated section on growth opportunities and recommendations • A qualitative and quantitative analysis of the IoT in agriculture market based on application and product • Quantitative analysis of application sub-segment, which includes: o Precision Crop Farming o Livestock Monitoring and Management o Indoor Farming o Aquaculture o Others • Regional and country-level forecast on IoT in agriculture, which includes applications such as precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others and products, including components. • A detailed company profile comprising established players and some start-ups that are capable of significant growth, along with an analyst view Analyst Perspective According to Komal Yadav, Lead Analyst, BIS Research, “IoT in agriculture, also known as smart farming, is radically changing traditional farming processes by using modern sensors, devices, and software solutions. This connectivity allows for real-time data gathering and analysis, as well as accurate monitoring and control of crops, livestock, and farming equipment. The applications are numerous, ranging from precision agriculture, which optimizes field-level management of planting, crop management, and harvesting, to livestock monitoring, which employs sensors to assess animal health and improve feeding. Looking ahead, the growth of IoT in agriculture is expected to accelerate, driven by factors such as rising food demand due to global population growth, need for improved sustainability practices to combat climate change, and agriculture industry's increased adoption of advanced technologies to improve yield and efficiency. Furthermore, government measures to promote digitization in agriculture, as well as significant investments in agritech firms, are critical in driving this expansion. As a result, IoT in agriculture is more than a fad; it represents a fundamental change toward a more data-driven, accurate, and sustainable approach to farming.” Key Companies Profiled Key players in the IoT in agriculture market analyzed and profiled in the study involve major IoT in agriculture, offering companies providing IoT in agriculture for the purpose. Moreover, a detailed competitive benchmarking of the players operating in the IoT in agriculture market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market. The key players profiled in the report include Deere & Company, Microsoft, CNH Industrial N.V, Robert Bosch GmbH, Kalera Inc., Heliospectra AB, Signify Holding, AKVA Group ASA, Eruvaka Technologies, AGRIVI, Climate LLC, AeroFarms, OSRAM GmbH, Connecterra B.V., and AmHydro Key Questions Answered in the Report • What is the estimated global market size for IoT in agriculture? • Which are the primary suppliers of the IoT in agriculture? • What are the different types of IoT in agriculture available in the market? • Which geographical area holds the largest market share in the IoT in agriculture market? • How has the COVID-19 outbreak affected the future trajectory of the IoT in agriculture market? • What are the primary factors driving growth in the IoT in agriculture market? • What are the future trends expected in the IoT in agriculture market?
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