Internet of Things (IoT) Agriculture Market Growth or Demand Increase or Decrease for what contains ?
Internet of things (IoT) technology in agriculture is anticipated to play a significant role in increasing the current agricultural productivity to cater to the growing demand for food. IoT in the agriculture industry incorporates IoT-based advanced technological tools, systems, equipment, and solutions to enhance operational efficiency, maximize yield, and minimize wastage of energy through real-time field data collection, data storage, data analysis, and the development of a control platform. Diverse IoT-based applications such as precision farming, livestock monitoring, smart greenhouse, and fish farm monitoring, are expected to be instrumental in increasing the speed of the agriculture processes. IoT technology can address agriculture-based issues and optimize the quantity and quality of agriculture production, by connecting farms through a single platform and making them more intelligent by sharing, storing, and analyzing the information.
The IOT in agriculture market is being driven by a number of factors, including the expanding demand for real-time data analytics, the rising use of cloud-based services, and the rising demand for automation and control systems in a variety of sectors, including manufacturing, healthcare, and transportation. The demand for a variety of devices, including sensors, gateways, and networking devices, is increasing in the IoT industry. Also, by enabling faster and more dependable connectivity for IoT devices, the spread of 5G technology is anticipated to fuel the expansion of the IOT in agriculture market. As more devices are connected to the internet and new use cases and applications arise, the IoT industry is anticipated to grow and change quickly over the next several years.
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Internet of Things (IoT) AgricultureMarket CAGR Estimation:
Internet of Things (IoT) Agriculture Market size was valued at USD 3.56 Bn. in 2022 and the total Internet of Things (IoT) Agriculture revenue is expected to grow at a CAGR of 8.7% from 2023 to 2029, reaching nearly USD 6.39 Bn.
Internet of Things (IoT) Agriculture Market Segmentation:
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
In 2023, the precision farming segment is projected to hold a market share of more than 35%. The Internet of Things (IoT) integration in precision imaging for weather, water, and soil monitoring, as well as real-time data collection about the state of the farm and equipment health using drone sensors and controllers, are driving the growth of precision farming’s market share. The goal of precision farming is to evaluate sensor data and take appropriate action. Precision farming uses sensors to gather data, analyze it, and help farmers make quick, well-informed decisions. A multitude of precision agricultural techniques, such as vehicle tracking, livestock management, and irrigation management, all play a major role in increasing efficiency and output.
byFarm Type
Large
Mid-Sized
Small Farms
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Internet of Things (IoT) Agriculture Market Overview:
The Maximize Market Research report assists clients in gaining a comprehensive understanding of the competitive landscape, serving as a valuable resource for strategic planning purposes. The comprehensive Internet of Things (IoT) Agriculture market overview furnishes extensive information regarding market size, trade statistics, prominent participants, and a range of market indicators, encompassing aspects such as life cycle, prevailing trends, and more.
Internet of Things (IoT) Agriculture Market Growth or Demand in which regions??
1. North America
United States and Canada:
Adoption of Precision Agriculture: High adoption of IoT technologies for precision farming, including sensors, drones, and smart irrigation systems.
Government Support: Initiatives promoting digital agriculture and sustainable farming practices.
Advanced AgTech Sector: Presence of leading agtech companies driving innovation in IoT applications for agriculture.
2. Europe
United Kingdom, Germany, Netherlands:
Smart Farming Initiatives: Increasing investments in digital agriculture and IoT solutions to enhance agricultural productivity.
Technological Advancements: Development of integrated farming management systems and IoT platforms.
Environmental Regulations: Compliance with strict environmental regulations fostering adoption of sustainable farming practices.
Internet of Things (IoT) Agriculture Market Scope Methodology:
The competitive landscape of the Internet of Things (IoT) Agriculture market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Internet of Things (IoT) Agriculture market. The report employed a bottom-up approach to ascertain Internet of Things (IoT) Agriculture market estimations and growth rates.
To gain insights into Internet of Things (IoT) Agriculture market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Internet of Things (IoT) Agriculture market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Internet of Things (IoT) Agriculture Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Internet of Things (IoT) Agriculture Market.
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Internet of Things (IoT) Agriculture Market Key Players:
1. Deere & Company
2. Trimble, Inc.
3. Leica Geosystems
4. Raven Industries
5. AG Junction, Inc.
6. Agco Corporation
7. Precision Planting Inc.
8. The Climate Corporation
9. DeLaval
10.GEA Farm Technology
11.Lely
12.Antelliq
13.AG Leader Technology
14.Tigercat
15.Ponsse
16.Komatsu Forest AB
17.DICKEY-john Corporation
18.Hitachi, Ltd
19.Telit
20.Decisive Farming
21.OnFarm Systems Inc.
22.Farmers Edge Inc.
23.SlantRange, Inc.
24.SmartCultiva Corporation
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Key questions answered in the Internet of Things (IoT) Agriculture Market are:
- What is Internet of Things (IoT) Agriculture?
- What is the growth rate of the Internet of Things (IoT) Agriculture Market?
- Which are the factors expected to drive the Internet of Things (IoT) Agriculture market growth?
- What are the different segments of the Internet of Things (IoT) Agriculture Market?
- What are the factors restraining the growth of the Internet of Things (IoT) Agriculture Market?
- What is the demand pattern of the Internet of Things (IoT) Agriculture Market?
- What major challenges could the Internet of Things (IoT) Agriculture Market face in the future?
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