IOT in Agriculture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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IOT in Agriculture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : December, 2019 | Technology & Media | PPT format

Report Digest


IOT in Agriculture Market: Overview

Internet of things or IOT is projected to play a considerable role in enhancing the existing agricultural productivity to meet the growing demands for food across the globe. IOT in agriculture market uses IOT-based high-tech technological tools, equipment, solutions, and systems to improve the operational efficacy, minimize the wastage, and maximize the yield. There is a wide range of applications of the IOT in agriculture market that helps them to achieve their production goals.

IOT in Agriculture Market: Notable Developments

Some of the notable developments in the global IOT in agriculture market are given below:

  • In May 2019, Farmer’s Edge announced that the company has launched a new yield-based nitrogen tool. The tool will help farmers to reach their production goals by offering more control over the key decisions that affects the production of corn.
  • In September 2019, Swim System announced that the company has entered into a new long-term strategic distribution and sales agreement with two Merced-based companies Water and Land Solutions and Central Irrigation.

IOT in Agriculture Market: Drivers and Restraints

There are several factors that are influencing the positive growth of the global IOT in agriculture market. One of the key driving factor for the market growth is the ever increasing demand for food across the globe. This has raised the requirement for mass production and efficient production practices. Technology plays a significant role in achieving both of these objectives. Naturally, there has been growing demand for IOT in agriculture market.

In addition to this, the changes in the climate across the globe is also playing a big role in the overall development of the global IOT in agriculture market. Unfavorable climate changes considerably hamper the production of agriculture across the globe. Due to such drastic weather changes it becomes necessary to deploy IOT-based advanced agricultural techniques to optimize the production of crops.

However, with such drivers, there are some challenges on route to the development. One key restraining factor is the lack of awareness among the farmer community. There are several small-scale agricultural industries that offer solutions at different stages of the value chain. As some of these agricultural processes gain economic feasibility, the development of the global IOT in agriculture market is expected to slow down.

Nonetheless, with growing penetration of smartphones and internet among farmers is expected to raise the needed awareness about the use of IOT in agriculture and thus help in the development of the global market.

IOT in Agriculture Market: Geographical Outlook

There are five key regions that divide the IOT in agriculture market in terms of geography. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these regions, the global market is currently dominated by the Asia Pacific region and is expected to continue its dominance over the course of the given forecast period of 2018 to 2028. The growth of the Asia Pacific market is due to the presence of emerging economies such as India and China. India in particular is expected to play a big role in the development of the Asia Pacific region. In recent financial budget, substantial amounts of fund were allocated for the development of the agricultural sector and bring in advanced technology for efficient and mass production. This is expected to boost the development of the IOT in agriculture market in India and subsequently in the Asia Pacific region. 

Internet of Things (IOT) in Agriculture Key Market Segments:

By System

  • Automation and control systems
  • Sensing and monitoring devices
  • Livestock monitoring Hardware
  • Fish farming hardware
  • Smart greenhouse hardware
  • Software

By Application

  • Precision farming
  • Livestock monitoring
  • Smart greenhouse
  • Fish farm monitoring

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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