The Internet Of Things (IoT) In Agriculture Global Market Report 2023 by The Business Research Company, provides internet of things (IoT) in agriculture market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Internet Of Things (IoT) In Agriculture Global Market Report 2023, the market size is expected to grow from $12.38 billion in 2022 to $13.80 billion in 2023 at a compound annual growth rate (CAGR) of 11.54%. 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 global internet of things (IoT) in agriculture market size is expected to reach $20.32 billion in 2027 at a CAGR of 10.1%.
The rise in food demand is significantly contributing to the growth of the Internet of Things (IoT) in the agriculture market going forward. Food demand refers to the consumer’s desire to buy the food products, which is measured by the demand and consumption. The usage of the Internet of Things (IoT) in agriculture boosts agricultural productivity by measuring many data connected to agriculture such as weather conditions, soil quality, livestock health, crop growth progress, and more. Through this, Farmers can reduce the risk of production loss by spotting abnormalities in crop growth or animal health. Due to such benefits, there is a rise in demand for internet of things (IoT) in agriculture.
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The internet of things (IoT) in agriculture market is segmented:
1) By Type: Small Farms, Mid-Sized, Large
2) By Component: Hardware, Software, Connectivity and Services
3) By Application: Livestock Monitoring, Smart Greenhouse, Precision Forestry, Fish Farm Monitoring, Other Applications
Technological advancement is the key trend gaining popularity in the Internet of Things (IoT) in the agriculture market. Major companies operating in the internet of things (IoT) in the agriculture market are focusing on integrating new technology into precision farming and adding more applications of the internet of things (IoT) to agricultural activities. For instance, in December 2021, Zyter, Inc., a US-based digital health and IoT-enablement company, launched Zyter Smart Agriculture, a new Internet of Things (IoT) technology that runs on the Zyter SmartSpacesTM platform. Zyter’s solution gives farmers and agronomists a comprehensive virtual perspective of the farm ecosystem by leveraging data from IoT sensors and AI technologies, with a focus on automating and optimising basic crop management methods to generate more sustainable precision agriculture. Zyter Smart Agriculture collects data on soil and atmospheric conditions using an IoT sensor network buried in the ground and strategically placed around the farm.
The internet of things (IoT) in agriculture market report table of contents includes:
1. Executive Summary
2. Internet of Things (IoT) in Agriculture Market Characteristics
3. Internet of Things (IoT) in Agriculture Market Trends And Strategies
4. Internet of Things (IoT) in Agriculture Market – Macro Economic Scenario
5. Internet of Things (IoT) in Agriculture Market Size And Growth
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26. Africa Internet of Things (IoT) in Agriculture Market
27. Internet of Things (IoT) in Agriculture Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Internet of Things (IoT) in Agriculture Market
29. Internet of Things (IoT) in Agriculture Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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