The agriculture iot global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Agriculture IoT Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The agriculture iot market size has grown rapidly in recent years. It will grow from <b>$14.16 billion in 2023 to $15.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. </b> The growth in the historic period can be attributed to farm mechanization and automation, rise of smart farming practices, connectivity infrastructure development, farm size and large-scale operations, crop health monitoring, efficient resource management, weather and climate monitoring, affordability and scalability.
The agriculture iot market size is expected to see rapid growth in the next few years. It will grow to <b>$22.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. </b> The growth in the forecast period can be attributed to global expansion of precision agriculture, government regulations and standards, drones and uavs integration, climate change mitigation, increasing adoption in developing regions, predictive analytics for disease management, customization for crop types, focus on sustainable agriculture. Major trends in the forecast period include sensor technology advancements, integration of ai and machine learning, farm management software, autonomous machinery and robotics, edge computing in agriculture, subscription-based iot services, blockchain for transparency.
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Scope Of Agriculture IoT Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Agriculture IoT Market Overview
Market Drivers –
A rise in the demand for food is driving the growth of the agriculture IoT market going forward. Food refers to the substance eaten by humans and animals to provide essential nutrition and nourishment to the body. The growing population of people across the globe is causing an increase in food demand. IoT solutions are geared toward assisting farmers in bridging the supply-demand gap by guaranteeing high yields, financial success, and environmental protection. For instance, 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 Trends –
Technological advancement is a key trend gaining popularity in the agriculture IoT market. Major companies in the agriculture IoT market are advancing in new technologies such as artificial intelligence to develop efficient products and solutions. For instance, in December 2021, Zyter Inc., a US-based digital health and IoT-enablement platform, launched Zyter Smart Agriculture. Zyter’s Smart Agriculture solution provides farmers and agronomists with a comprehensive virtual view of the farm ecosystem using data from IoT sensors and AI (artificial intelligence) technologies. It emphasis on automating and optimizing basic crop management procedures to create more sustainable, precision agriculture.
The agriculture iot market covered in this report is segmented –
1) By Component type: Hardware, Software, Connectivity and Services
2) By Farm Type: Large, Mid-Sized, Small Farms
Subsegment: Precision Farming Hardware, Precision Livestock Hardware, Precision Aquaculture Hardware, Precision Forestry Hardware, Smart Greenhouses Hardware, Others Hardware
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Regional Insights –
North America was the largest region in the agriculture IoT market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agriculture iot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the agriculture iot market report are Deere & Company, The Tetra Laval Group, Topcon Positioning Systems Inc., Trimble Inc., Raven Industries Inc., AgJunction Inc., Farmers Edge Inc., Field Group AS, AgEagle Aerial Systems, Komatsu Forest AB, InnovaSea Systems Inc., Steinsvik AS, Ponsse PLC, The Climate Corporation, OnFarm Systems Inc., SlantRange Inc., TELUS Agriculture Solutions Inc., Ag Leader Technology, Autonomous Solutions Inc., BouMatic Robotic B.V., Helium Systems Inc., Benchmark Labs Inc., Jala Corporation, Myriota Pty Ltd, Ketos Inc., FarmInsect Ltd., Orbital Insight Inc., M5Stack Technology Co. Ltd., KisanHub Ltd., Amber Agriculture Inc., Arable Labs Inc., Sencrop SAS
Table of Contents
1. Executive Summary
2. Agriculture IoT Market characterstics
3. Agriculture IoT Market Trends And Strategies
4. Agriculture IoT Market – Macro Economic Scenario
5. Global Agriculture IoT Market Size And Growth
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31. Global Agriculture IoT Market Competitive Benchmarking
32. Global Agriculture IoT Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Agriculture IoT Market
34. Agriculture IoT Market Future Outlook and Potential Analysis
35. Appendix
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