The Agriculture IoT Market is expected to grow from USD 11.4 billion in 2020 to USD 18.1 billion by 2026 at a CAGR of 9.8% from 2020 to 2026.
IoT in agriculture includes IoT-based advanced technological tools, equipment, systems and solutions to improve the operational efficiency, optimize yield, and reduce wastage of energy through real-time field data collection, data analysis, data storage and development of control platform. Various IoT-based applications such as precision farming, smart greenhouse, livestock monitoring and fish farm monitoring, are projected to be instrumental in improving the speed of the agriculture processes. Smart-farming also known as precision-farming is offering more returns for the agriculture sector. There are several factors which can have an adverse impact on farming. Nature, soil, climate, plant, field are some of the vital factors in agriculture. Smart farming comprises irrigation, fertilizing, planting and minimizing wastages in agriculture. The overall cost and expenses in farming are efficient with smart devices. The use of VRT technology is a major driver for the IoT in the agriculture market. Other technologies such as sensors, mapping, GPS, data management software improve the profitability in the agriculture sector. Few other benefits of smart farming are sustainability, cost reduction and reduction in labor cost. All these advantages are possible with IoT in agriculture. These are the prominent actors which propel market demand. Further, the VRT provide site-specific services in the agricultural field. There are environmental benefits owing to IoT in agriculture. The IoT technologies minimize the green gas emission and soil erosion. The rise in the VRT market will positively impact the IoT in the agriculture market. Furthermore, various governments are interested in smart technologies in farming. The government initiatives for IoT in agriculture are massive. It is also major driver for the market. The governmental support will result in high adoption of IoT in agriculture. The cost benefits and plenty of other governmental subsidies allure more end-users towards IoT in agriculture practice. All these factors result in high IoT in Agriculture Market Profit in the forecast period.
Additionally, the launch of UAV drones is providing exceptional growth opportunities for the market. Unmanned aerial vehicles are popular on battlefields. However, the adoption of UAV drones is obtaining more traction in the agriculture sector. The aerial images captured by these drones save time and money in the agriculture field. The cost efficiency, functions and operation of the UAV drones will create huge demand.
The global Agriculture IoT Market is segregated on the basis of component as Industrial Sensors, Industrial Robots, Industrial 3D Printers and Machine Vision Systems. Based on Solution the global Agriculture IoT Market is segmented in Manufacturing Execution System (MES), Plant Asset Management (PAM), SCADA, Industrial Safety and Others. Based on Industry Vertical the global Agriculture IoT Market is segmented in Automotive, Semiconductor & Electronics, Chemicals & Pharmaceuticals, Food & Beverages, Oil & Gas, Aerospace & Defense, Medical Devices and Others.
The global Agriculture IoT Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Agriculture IoT Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Accenture, AG Leader Technology, AG-NAV INC., AGCO Corporation, AgEagle and others are among the major players in the global Agriculture IoT Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Agriculture IoT Market has been segmented as below:
Agriculture IoT Market, By Application
Agriculture IoT Market, By System
Agriculture IoT Market, By Region
Agriculture IoT Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Agriculture IoT Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Agriculture IoT Market share. Major industry players with significant revenue share include Accenture, AG Leader Technology, AG-NAV INC., AGCO Corporation, AgEagle and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Agriculture IoT Market, By Application
5.1. Key Points
5.2. Precision farming
5.3. Livestock monitoring
5.4. Smart greenhouse
5.5. Fish farm monitoring
6. Agriculture IoT Market, By System
6.1. Key Points
6.2. Automation and control systems
6.3. Sensing and monitoring devices
6.4. Livestock monitoring Hardware
6.5. Fish farming hardware
6.6. Smart greenhouse hardware
6.7. Software
7. Competitive Landscape
7.1. Introduction
7.2. Start-up companies- Agriculture IoT Market
7.3. Recent Developments
7.3.1. Mergers & Acquisitions
7.3.2. New Product Developments
7.3.3. Portfolio/Production Capacity Expansions
7.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
7.3.5. Others
8. Company Profile
8.1. Accenture
8.2. AG Leader Technology
8.3. AG-NAV INC.
8.4. AGCO Corporation
8.5. AgEagle
8.6. AgJunction Inc.
8.7. Caterpillar
8.8. Cattle Watch
8.9. Cisco Systems, Inc.
8.10. CNH Industrial
8.11. Connecterra
8.12. CropMetrics LLC
8.13. Decagon
8.14. Decisive Farming
8.15. Deepfield Robotics
8.16. Deere and Company
8.17. Delaval, Inc.
8.18. Dickey John
Agriculture IoT Market, By Application
Agriculture IoT Market, By System
Agriculture IoT Market, By Company