Global Internet of Things(IoT) in agriculture Market
Global Internet of Things (IoT) in agriculture market is expected to reach USD 22,453,114.69 thousand by 2031 from USD 6,954,657.73 thousand in 2024, growing with a CAGR of 16.1% in the forecast period of 2024 to 2031.
Market Segmentation
Global 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 (U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Sweden, Belgium, Denmark, Poland, Norway, Turkey, Finland, rest of Europe, China, Japan, India, South Korea, Hong Kong, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Taiwan, Cambodia, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Colombia, Peru, rest of South America, Saudi Arabia, South Africa, U.A.E., Israel, Egypt, Qatar, Oman, Kuwait, Bahrain, and rest of Middle East and Africa) - Industry Trends and Forecast to 2031
Overview of Global 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 global Internet of Things (IoT) in agriculture market are listed below:
• Sencrop
• Pycno Industries, Inc.
• HARDWARIO a.s.
• GEA Group Aktiengesellschaft
• Ag Leader Technology
• TeeJet Technologies
• DICKEY-john
• Delair
• AKVA group
• Topcon
• ScaleAQ
• Innovasea Systems Inc.
• Afimilk Ltd.
• AgEagle Aerial Systems Inc
• Hexagon AB
• Eruvaka Technologies Pvt. Ltd
• Hylio
• TEKTELIC Communications Inc.
• CropX inc.
• Digital Matter
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