The internet of things (iot) in agriculture 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.
Internet of Things (IoT) in Agriculture 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 internet of things (iot) in agriculture market size has grown rapidly in recent years. It will grow from $13.73 billion in 2023 to $15.21 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to data analytics for decision support, integration of autonomous machinery, crop monitoring solutions, livestock monitoring and welfare, water management solutions..
The internet of things (iot) in agriculture market size is expected to see rapid growth in the next few years. It will grow to $22.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to government initiatives and funding, integration of ai and machine learning, data-driven decision making, rise in demand for smart farming solutions, focus on sustainability and resource management.. Major trends in the forecast period include precision agriculture adoption, rising demand for smart farming, climate change resilience, water management solutions, livestock monitoring and welfare..
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Scope Of Internet of Things (IoT) in Agriculture 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.
Internet of Things (IoT) in Agriculture Market Overview
Market Drivers –
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. For instance, in July 2021, according to a study published by Nature Food, an online journal that publishes research on food production, the demand for food is expected to grow by 35 percent to 56 percent between 2010 and 2050. Therefore, a rise in food demand will drive the Internet of Things (IoT) market in the agriculture market.
Market Trends –
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 covered in this report is segmented –
1) By Component: Hardware, Software, Connectivity and Services
2) By Type: Small Farms, Mid-Sized, Large
3) By Application: Livestock Monitoring, Smart Greenhouse, Precision Forestry, Fish Farm Monitoring, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the internet of things (IoT) in agriculture market in 2023. The regions covered in the internet of things (iot) in agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the internet of things (iot) in agriculture market report are Trimble Inc., Deere & Company, AGCO Corporation, Topcon Positioning Systems Inc., The Climate Corporation, AgJunction Inc., The Tetra Laval Group, DICKEY-john, Gamaya, AgriData Incorporated, AgEagle Aerial Systems Inc., Aker Solutions ASA, Grownetics Inc., Auroras s.r.l., Granular Inc., Intervet Inc., Raven Industries Inc., Cisco Systems Inc., International Business Management Corporation, Telit, Hitachi Ltd., TELUS Agriculture Solutions Inc., OnFarm Systems Inc., Farmers Edge Inc., SlantRange Inc., Ponsse plc, Komatsu Forest AB, InnovaSea Systems Inc., Scale Aquaculture AS, TeeJet Technologies Pvt. Ltd. .
Table of Contents
1. Executive Summary
2. Internet of Things (IoT) in Agriculture Market Report Structure
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
…..
27. Internet of Things (IoT) in Agriculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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