Agriculture IoT Market Size, Share, Trends, Growth and Forecast 2032

Agriculture IoT Market Insights

Zion Market Research has published a report on the global Agriculture IoT Market, estimating its value at USD 13.74 Billion in 2023, with projections indicating that it will reach USD 31.61 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 9.7% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Agriculture IoT Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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The report analyzes the global agriculture iot market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the agriculture iot industry.

Agriculture IoT Market Oveview

Agriculture IoT is smart farming based on IoT, in this a system is made to monitor crop field by the help of sensors such as humidity, light, soil moisture, temperature, along with automation of irrigation system. With the help of these systems a farmers can monitor his field conditions at anytime from anywhere. IoT based farming is extremely efficient as compared to the conventional approach.

IoT based farming is gaining popularity amongst farmers as it reduces efforts and time of farmers. IoT technology is expected to play an important role in bolstering the current agricultural productivity to match the surging demand for food. IoT in agriculture industry includes IoT based progressive technological systems, tools, solutions  and equipment to improve the efficiency, minimize wastage of energy and maximize yield through real-time data collection of the fields, data analysis and data storage.

Varied IoT-based hardware applications like livestock monitoring, precision farming, fish farm monitoring and smart greenhouse will act as a propeller the speed of agriculture processes. These technologies for agriculture can address issues and help in optimizing the quality and quantity of agricultural production, by connecting with farmers through a single platform and sharing stored and analyzed information for better productivity. However, high technological cost and limited technical knowledge and skills of farmers coupled with fragmented agricultural market is anticipated to hinder market growth in the long run.

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Agriculture IoT Market Segmentation

The agriculture IoT market is segmented into offering, agriculture type and application.

The Offering segment is bifurcated hardware, software and services. Hardware is expected to support market growth for agriculture IoT in the anticipated period. The surging adoption of advanced devices and new technologies for smart agriculture is anticipated to stimulate market growth for IoT in agriculture industry for Hardware segment in the forecast period. The hardware tools and devices used in precision farming help in minimizing input and enhance productivity. The control and automation systems such GPS receivers, guidance  and steering devices play a very vital role in developing and supporting market for agriculture IoT.

By agriculture type segment analysis includes precision farming, precision forestry, livestock monitoring
fish farm monitoring, smart greenhouse and others

By application segment analysis includes precision farming application, precision forestry application, livestock monitoring application, fish farm monitoring application, smart greenhouse application and other application

Asia Pacific is expected to show growth during the forecast period. It will hold a substantial share owing to the adoption of IoT technologies for agriculture in the Asia Pacific region. The rising demand for food and surging requirements to protect crops from unforeseen climate changes in India, China, and Japan is expected to propel the adoption of this technology and hold a substantial market share in the agriculture IoT market.

Agriculture IoT Market: Report Scope

Agriculture IoT Market Key Players

The noticeable players of the agriculture IoT market include a financial overview, strategies adopted by the companies, products offered  and recent developments by them which will help in assessing competition in the market. Noticeable players included in the report are:

• Trimble
• Deere & Company
• AGCO Corporation
• Raven Industries
• DeLaval
• AgJunction Inc.
• Lely
• GEA Farm Technology
• AG Leader Technology
• Antelliq

The report segment of global agriculture IoT market as follows:

Global Agriculture IoT Market: Offering Segment Analysis

• Hardware
  • Sensors
  • Led Grow Lights
  • HVAC Systems
  • GPS
  • Control System
  • RFID Tags and Readers
  • UAVS/Drones
  • Yield Monitors
  • Irrigation Controllers
• Software
  • Local/Web Based
  • Cloud Based
• Services
  • Managed Services
  • Data Services
  • Analytics
  • Connectivity Services
  • Maintenance and Support

Global Agriculture IoT Market: Agriculture Type Segment Analysis

• Precision Farming
• Precision Forestry
• Livestock Monitoring
• Fish Farm Monitoring
• Smart Greenhouse
• Others

Global Agriculture IoT Market: Application Segment Analysis

• Precision Farming Application
• Precision Forestry Application
• Livestock Monitoring Application
• Fish Farm Monitoring Application
• Smart Greenhouse Application
• Other Application

Global Agriculture IoT Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa