Asia Pacific Internet of Things(IoT) in agriculture Market
Asia-Pacific Internet of Things (IoT) in agriculture market is expected to reach USD 6,879,477.36 thousand by 2031 from USD 1,983,468.38 thousand in 2023, growing with a CAGR of 17.2% in the forecast period of 2023 to 2031.
Market Segmentation
Asia-Pacific Internet of Things (IoT) in Agriculture Market, By Offering (Hardware and Services), Agriculture Type (Precision Farming, Precision Forestry, Dairy & Livestock Monitoring, Smart Greenhouse, Fish Farm Monitoring, and Others), Connectivity (Wi-Fi, Bluetooth, RF Technology, Zigbee, and Others), Farm Size (Large Farms, Small Farms, and Medium-Sized Farms), Distribution (Dealers and D2C), Countries (China, Japan, India, South Korea, Hong Kong, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Taiwan, Cambodia, Vietnam, and rest of Asia-Pacific) - Industry Trends and Forecast to 2031
Overview of Asia-Pacific Internet of Things (IoT) in Agriculture Market Dynamics
Drivers
• IoT facilitates precise monitoring and management of crops, maximizing resource efficiency and boosting yields
• Government subsidies and initiatives encourage farmers to adopt IoT and digital farming technologies
• Supports sustainable practices by minimizing environmental impact
• Automates irrigation, fertilization and pest control effectively cutting down on labor cost
Restraints
• Limited internet access in rural areas affects implementation
• Compliance with varying regulations and standards across regions
Opportunities
• Rapid technological advancement in IoT devices
• Increasing adoption of drone and satellite technologies in agriculture farm
• Rising demand for livestock monitoring solution
Challenges
• High initial expenditure
• Data privacy and security
Market Players
The key market players operating in the Asia-Pacific Internet of Things (IoT) in agriculture market are listed below:
• GEA Group Aktiengesellschaft
• Ag Leader Technology
• TeeJet Technologies
• DICKEY-john
• Delair
• AKVA group
• Topcon
• Innovasea Systems Inc
• AgEagle Aerial Systems Inc
• Hexagon AB
• Eruvaka Technologies Pvt.Ltd
• Hylio, Inc
• TEKTELIC Communications Inc.
• CropX inc.
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