The Business Research Company’s Agriculture IoT Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Agriculture IoT Global Market Report 2023 evaluates agriculture IoT market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global agriculture IoT market size is expected to grow from $12.75 billion in 2022 to $15.68 billion in 2023 at a compound annual growth rate (CAGR) of 11.44%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global agriculture IoT industry is expected to reach $20.42 billion in 2027 at a CAGR of 9.49%.
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.
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The agriculture IoT market segments in the report are:
1) By Component type: Hardware, Software, Connectivity and Services
2) By Hardware Type: Precision Farming Hardware, Precision Livestock Hardware, Precision Aquaculture Hardware, Precision Forestry Hardware, Smart Greenhouses Hardware, Others Hardware
3) By Farm Type: Large, Mid-Sized, Small Farms
The table of contents in TBRC’s agriculture IoT market report includes:
1. Executive Summary
2. Agriculture IoT Market Characteristics
3. Agriculture IoT Market Trends And Strategies
4. Agriculture IoT Market – Macro Economic Scenario
5. Agriculture IoT Market Size And Growth
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26. Africa Agriculture IoT Market
27. Agriculture IoT Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Agriculture IoT Market
29. Agriculture IoT Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Deere & Company
- DeLaval
- Topcon Positioning Systems,
- Inc
- Trimble Inc
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