Agriculture IoT Market Forecasts to 2030 – Global Analysis By Farm Type (Large, Small Farms and Mid Size) Component (Hardware, Softwar, Connectivity & Services and Other Components), Application and by Geography

Agriculture IoT Market Forecasts to 2030 – Global Analysis By Farm Type (Large, Small Farms and Mid Size) Component (Hardware, Softwar, Connectivity & Services and Other Components), Application and by Geography


According to Stratistics MRC, the Global Agriculture Iot Market is accounted for $14.46 billion in 2023 and is expected to reach $34.97 billion by 2030 growing at a CAGR of 13.4% during the forecast period. The term ""agriculture IoT"" (Internet of Things) refers to the process of turning every aspect and action associated with farming into data using sensors, cameras, and other technology. With the use of the IoT for agriculture, massive data sets may be generated from weather, moisture, plant health, mineral status, chemical applications, insect presence, and many other variables. Using software algorithms, big data engineers can then draw insights about the farm at different granularities.

According to data from The Food and Agricultural Organization, a Canada-based body of the United Nations, global food production will need to increase by 70% to meet the growing global population growth that is expected to reach 9.6 billion by 2050. Therefore, an increase in demand for food is driving the agriculture IoT market.

Market Dynamics

Driver

Government support and rise in techniques

The expansion of the VRT (variable rate technique) market will be advantageous for the IoT in agriculture. Governments are also keenly interested in smart farming technologies. IoT in agriculture is receiving strong government support. More end users are attracted by numerous different government subsidies as well as the cost advantages of IoT in agricultural practices. All of these components will result in a significant IoT in agriculture market profit throughout the course of the projection term.

Restraint

Shortage of readily accessible, standardized tools for data management and aggregation

A significant issue facing the agriculture IoT business is data aggregation. Managing agricultural data is not standardized in the business, which makes it challenging for growers to do their jobs. To guarantee operational homogeneity, the industry must standardize its data management system. Many farmers or growers are not aware of how data can be used effectively for decision-making. For them to properly obtain, manage, process, and utilize data, it is crucial to offer farmers and growers the appropriate data management tools and methodologies.

Opportunity

Increasing use of drones or UAVs in agricultural farms

Unmanned aerial vehicles (UAVs) or drones are swiftly transitioning from combat zones to agricultural fields because they can take aerial photos that are extremely accurate and cover large areas in a single flight—up to hundreds of hectares or acres. Drones used for agriculture are less expensive than those used for surveillance, and they have more sophisticated sensors and imaging capabilities that give farmers new opportunities to boost crop productivity and cut resource waste. Thus, it is anticipated that the use of unmanned aerial vehicles (UAVs) or drones will open up potential for market expansion.

Threat

High cost

The interest in huge initial uses is one of the primary obstacles to the expansion of the farming IoT industry. Currently, the majority of ranchers in emerging economies as well as less well-off farmers in industrialized countries cannot afford rural IoT tools and equipment. Accuracy cultivation needs a competent crew to operate GPS, drones, GIS, VRT, and satellite technology, in addition to a substantial initial financial investment.

Covid-19 Impact

The functioning of production facilities for farm IoT hardware and related components was impacted by the closure of factories around the world as well as stringent limitations on social movement in various COVID-19-affected countries. In addition, COVID-19 is anticipated to have slowed down the development and deployment of next-generation agriculture IoT hardware solutions. All of these elements caused the market size for farm IoT to slightly decline. Because of the disturbances in the supply chain, raw materials and other commodities are now being purchased from local vendors to assure a steady supply.

The precision aquaculture segment is expected to be the largest during the forecast period

During the forecast period, the precision aquaculture segment is anticipated to be the largest. The primary factor is the rapid expansion of the agriculture IoT market in aquaculture farm monitoring applications and the rising demand for real-time tracking of fishing activity. Additionally, there is growing government support for freshwater aquaculture production on a global scale, as well as growing investments in technology advancements and product innovations.

The Small farms segment is expected to have the highest CAGR during the forecast period

The sector of small farms is predicted to experience the highest CAGR during the projection period. Small-scale farmers have access to sophisticated tools and solutions that were previously only available to larger agricultural enterprises due to the advances of IoT technologies. Additionally, on small farms, IoT gadgets and sensors can be installed to track a variety of data in real-time, including crop health, soil moisture, temperature, and humidity. Therefore, farmers can use cloud-based systems to communicate this data and use it to make smart decisions about irrigation, fertilizer, and pest management.

Region with largest share

During the forecast period, it is expected that North America have the largest share, due to a strong preference for mechanically advanced hardware and robot frameworks to improve farm efficiency. Additionally, leading market competitors' extensive specialized uses and early adoption of contemporary innovations like the Internet of Things are two major forces advancing the local business sector.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period. The growing interest in this area is typically due to more notable information on modern horticultural innovation and the implementation of excellent unofficial regulations to support ranch digitalization. Furthermore, as urbanization increases and the need for greater food security grows, interest in advanced agriculture will increase, leading to IoT proposals in nearby horticulture regions. Additionally, increasing consumer demand for choices brought on by more money has contributed to the regions market growth during the predicted term.

Key players in the market

Some of the key players in Agriculture IoT market include Ag Leader Technology, Agco Corporation , Cisco Systems, Inc., Climate Corporation ,Farmers Edge Inc., FluroSat, Hexagon AB,IBM Corporation, Precision Planting LLC, Raven Industries Inc.,SAP SE, Taranis, Telit Communications PLC, The Toro Company, Topcon Corporation and Trimble Inc.

Key Developments

In April 2022, Exact Rate, an on-planter technology that fertilises new crops twice as quickly as before and reduces the number of fertiliser tank refills needed during planting, was updated by Deere & Company.

In February 2022, DeLaval added the RC550 and RC700 to their selection of robots. These machines were developed to improve cow comfort and hoof health on solid surfaces. Thanks to their unique rotational dung intake mechanism, the collector can handle any kind of manure and doesn't need any additional water.

Farm Types Covered
• Large
• Small Farms
• Mid Size

Components Covered
• Hardware
• Software
• Connectivity & Services
• Other Components

Applications Covered
• Precision Aquaculture
• Precision Livestock
• Precision Farming
• Precision Forestry
• Other Applications

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Agriculture IoT Market, By Farm Type
5.1 Introduction
5.2 Large
5.3 Small Farms
5.4 Mid Size
6 Global Agriculture IoT Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Climate Sensors
6.2.2 Soil Sensors
6.2.3 Displays
6.2.4 Drones
6.2.5 Smart Harvesters & Forwarders
6.2.6 Sensors for Livestock
6.2.7 Water Sensors
6.2.8 Flow and Application Control Devices
6.2.9 LED Grow Lights
6.2.10 Handheld Computers
6.2.11 Sensing and Monitoring Devices
6.2.12 Automation and Control Systems
6.2.13 RFID Tags and Readers
6.2.14 Other Hardwares
6.2 Software
6.2.1 On-premise
6.2.2 Cloud-based
6.3 Connectivity & Services
6.4 Other Components
7 Global Agriculture IoT Market, By Application
7.1 Introduction
7.2 Precision Aquaculture
7.3 Precision Livestock
7.4 Precision Farming
7.5 Precision Forestry
7.6 Other Applications
8 Global Agriculture IoT Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 AG Junction Inc.
10.2 Ag Leader Technology
10.3 Agco Corporation
10.4 Cisco Systems, Inc.
10.5 Climate Corporation
10.6 Farmers Edge Inc.
10.7 FluroSat
10.8 Hexagon AB
10.9 IBM Corporation
10.10 Precision Planting LLC
10.11 Raven Industries, Inc.
10.12 SAP SE
10.13 Taranis
10.14 Telit Communications PLC
10.15 The Toro Company
10.16 Topcon Corporation
10.17 Trimble Inc.
List of Tables
Table 1 Global Agriculture IoT Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Agriculture IoT Market Outlook, By Farm Type (2021-2030) ($MN)
Table 3 Global Agriculture IoT Market Outlook, By Large (2021-2030) ($MN)
Table 4 Global Agriculture IoT Market Outlook, By Small Farms (2021-2030) ($MN)
Table 5 Global Agriculture IoT Market Outlook, By Mid Size (2021-2030) ($MN)
Table 6 Global Agriculture IoT Market Outlook, By Component (2021-2030) ($MN)
Table 7 Global Agriculture IoT Market Outlook, By Hardware (2021-2030) ($MN)
Table 8 Global Agriculture IoT Market Outlook, By Climate Sensors (2021-2030) ($MN)
Table 9 Global Agriculture IoT Market Outlook, By Soil Sensors (2021-2030) ($MN)
Table 10 Global Agriculture IoT Market Outlook, By Displays (2021-2030) ($MN)
Table 11 Global Agriculture IoT Market Outlook, By Drones (2021-2030) ($MN)
Table 12 Global Agriculture IoT Market Outlook, By Smart Harvesters & Forwarders (2021-2030) ($MN)
Table 13 Global Agriculture IoT Market Outlook, By Sensors for Livestock (2021-2030) ($MN)
Table 14 Global Agriculture IoT Market Outlook, By Water Sensors (2021-2030) ($MN)
Table 15 Global Agriculture IoT Market Outlook, By Flow and Application Control Devices (2021-2030) ($MN)
Table 16 Global Agriculture IoT Market Outlook, By LED Grow Lights (2021-2030) ($MN)
Table 17 Global Agriculture IoT Market Outlook, By Handheld Computers (2021-2030) ($MN)
Table 18 Global Agriculture IoT Market Outlook, By Sensing and Monitoring Devices (2021-2030) ($MN)
Table 19 Global Agriculture IoT Market Outlook, By Automation and Control Systems (2021-2030) ($MN)
Table 20 Global Agriculture IoT Market Outlook, By RFID Tags and Readers (2021-2030) ($MN)
Table 21 Global Agriculture IoT Market Outlook, By Other Hardwares (2021-2030) ($MN)
Table 22 Global Agriculture IoT Market Outlook, By Software (2021-2030) ($MN)
Table 23 Global Agriculture IoT Market Outlook, By On-premise (2021-2030) ($MN)
Table 24 Global Agriculture IoT Market Outlook, By Cloud-based (2021-2030) ($MN)
Table 25 Global Agriculture IoT Market Outlook, By Connectivity & Services (2021-2030) ($MN)
Table 26 Global Agriculture IoT Market Outlook, By Other Components (2021-2030) ($MN)
Table 27 Global Agriculture IoT Market Outlook, By Application (2021-2030) ($MN)
Table 28 Global Agriculture IoT Market Outlook, By Precision Aquaculture (2021-2030) ($MN)
Table 29 Global Agriculture IoT Market Outlook, By Precision Livestock (2021-2030) ($MN)
Table 30 Global Agriculture IoT Market Outlook, By Precision Farming (2021-2030) ($MN)
Table 31 Global Agriculture IoT Market Outlook, By Precision Forestry (2021-2030) ($MN)
Table 32 Global Agriculture IoT Market Outlook, By Other Applications (2021-2030) ($MN)
Table Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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