IoT in Agriculture Market by Offering (Hardware, Software and Services), Application (Precision Farming, Precision Forestry, Livestock Monitoring, Smart Greenhouse, and Fish Farm Monitoring)-Analysis & Forecast 2019-2030.
Report ID : 163 | Published Date : May 2020 | Pages : 160 | Region : Global | Report Code : ICT-10
IoT in Agriculture Market Overview and Introduction
IoT is the network of interconnected things/devices which are embedded with sensors, software, network connectivity and other necessary electronics that allows them to collect and exchange data making them responsive. IoT in Agriculture is built for monitoring crop field, to find out agriculture-based issues and to enhance the quantity & quality of agriculture production and at the same time reducing wastage of energy with the help of sensors (light, humidity, temperature, soil moisture, etc.) and automating the irrigation system.
The global IoT in Agriculture market is mainly driven by rising adoption of IoT by farmers, increasing demand for agricultural production output, and adoption of drones in precision farming. Moreover, governments support to adopt modern agricultural techniques also plays a pivotal role in contributing to the growth of IoT in Agriculture market. However, high technological cost and lack of technical knowledge & skills among farmers are likely to restrain market growth to a certain extent.
The global IoT in Agriculture market can be segmented into offering, application, and regions.
IoT in Agriculture Market by Offering
Based on offering, the market is segmented into hardware, software, and services. The hardware segment is expected to dominate the IoT in Agriculture market during the forecast period. The growth of this segment can be attributed to the increasing adoption of new technologically advanced devices for smart agriculture. Many hardware devices and tools such as global positioning system (GPS) receivers, steering devices, variable rate technology (VRT), etc. are been used to decrease efforts and increase crop productivity.
IoT in Agriculture Market by Application
Based on application, the market is segmented into precision farming, precision forestry, livestock monitoring, smart greenhouse, fish farm monitoring and others. The precision farming segment is expected to dominate the IoT in Agriculture market during the forecast period owing to the increasing efforts on improving farm efficiency and productivity. Precision farming includes use of several software and hardware devices which helps in collecting farm-related data which will in turn assist farmers to take better decision related to their farm and crops.
IoT in Agriculture Market by Region
Based on region, the global IoT in Agriculture market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the IoT in Agriculture market, followed by Europe. The growth of North American region can be attributed to the presence of prominent players in the region who are mainly focusing to improve the speed & accuracy of harvesting and its management. Early adoption of agriculture IoT technologies such as yield monitoring, and crop scouting, among others, in countries such as US and Canada is anticipated to provide significant growth opportunities for the global IoT in Agriculture market in these regions.
IoT in Agriculture Market Prominent Players
Some of the prominent players in the IoT in Agriculture market include Deere & Company, Trimble Inc., Cisco Systems, Inc., AKVA group, Ag Leader Technology, Decisive Farming, Telit, AllflexUSA Inc., OnFarmSystems Inc., SmartcultivaCorporation, among others.