IoT Agriculture Market Key Highlights:
- Market Size (2024): USD 17.64 Billion
- Projected Market Size (2034): USD 77.83 Billion
- CAGR (2023-2034): 16%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT Agriculture Market Definition
The IoT agriculture market deals in providing IoT-based solutions for enhancing agriculture across the world. These IoT solutions find several applications in agricultural sectors, such as crop management, livestock management, greenhouse automation, pest control, field mapping, and climate monitoring. The main types of hardware used by this industry consist of precision farming hardware, precision livestock hardware, smart greenhouses hardware, precision forestry hardware, and some others. The growing demand for smart agricultural products for crop monitoring and automation of irrigation systems has positively impacted the market expansion. This market is likely to rise significantly with the growth of the agricultural sector across the world.
The rising interest in farming among the people, along with an increase in the number of large farms across the world, has propelled the market growth. Also, the growing emphasis on pre-production and post-production planning, along with developments in agricultural satellites, has accelerated the industrial expansion. Moreover, the rising adoption of VRT, remote sensing, and guidance technologies by farmers around the globe is expected to drive the growth of the IoT agriculture market.
Advancements in drone technology along with growing emphasis on precision farming and IoT soil sensors is expected to create ample growth opportunities for the market players in the future. In February 2024, Spacecom launched an IoT satellite. This satellite is designed for the agricultural sector to enhance precision farming.
IoT Agriculture Market Segmentation:
By Type
- Software System
- Sensing and Monitoring Systems
- Fish Farming Systems
- Smart Greenhouse Systems
- Livestock Monitoring Systems
- Automation and Control Systems Services
- Others
By Application
- Livestock Monitoring
- Precision Crop Farming
- Indoor Farming Aquaculture
- Integrated Pest Management
- Water Supply Management
- Others
IoT Agriculture Market Companies:
- Trimble Inc.
- Eruvaka Technologies
- Raven Industries
- Dickey John
- Descartes Labs
- AKVA group
- InnovaSea Systems
- John Deere
- AgLeader Technology
- Semios
- Bayer
- AGCO
- PrecisionHawk
- Hortau
- Topcon Positioning Systems
- Hexagon Agriculture
- Pessl Instruments
- CropX
- Arable Labs
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