Market Research Report
IoT in Agriculture Market with COVID-19 Impact Analysis, By Component, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|IoT in Agriculture Market with COVID-19 Impact Analysis, By Component, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
Published: January 1, 2021
AnalystView Market Insights
Content info: 299 Pages
Delivery time: 2-3 business days
The global IoT in Agriculture market was valued at USD 15.3 billion in 2020, growing with 18.2% CAGR during the forecast period, 2021-2027.
Increasing demand for food is enabling farmers to utilize the Internet of things (IoT) solution with a focus on enhancing productivity. IoT based agriculture involves the application of advanced tools, solutions, and equipment. These solutions help to minimize energy wastage by the use of proper data analytics along with a control platform.
The IoT in Agriculture market is projected to witness significant growth in the next few years, owing to the growing demand from agriculture production, and the rising adoption of artificial intelligence (AI), and IoT technology. In addition, the farmers are focusing on livestock monitoring to enhance crop yielding capacity and production efficiency. Data analytics, services provide the right alerts and calls to enhance farmers' capabilities. Additionally, IoT based systems offer diagnosing, and troubleshooting solution with better agricultural management.
The growing trend of precision farming is projected to foster the demand for IoT in agriculture. In addition, various applications such as a smart greenhouse, livestock monitoring, fish farming are expected to drive market growth. The IoT solutions help to address agriculture issues and optimize production capabilities. Furthermore, the low cost associated with technology, and increasing spending on R&D activities is projected to boost the market growth. Moreover, supportive government initiatives with a focus on enhancing agriculture production are contributing to the growth of the market.
Changing climate conditions significantly impact agriculture production. Thus, the advanced IoT-based technology solution help to optimize production by the use of monitoring and automation & control systems. The increasing adoption of smart devices, smartphones, internet services is expected to boost the market growth.
North America is projected to dominate the market on account of the growing adoption of advanced technology solutions across the region. The European market is projected to expand at a significant rate over the forecast period. The farmers in European countries are adopting smart technologies, monitoring solution which, in turn, is boosting the market growth. In Germany, livestock monitoring, dairy management, and animal tracking is spurring market growth.
The IoT in Agriculture market is moderately fragmented with the presence of international players. Key players in the market engage in developing advanced solutions in farming applications. For example, John Deere had developed advanced telematics solutions for better farming control. Key companies are engaged in strategic collaborations and new product introductions to expand their reach worldwide.
Key features of the study:
This proposed research study on IoT in Agriculture market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for IoT in Agriculture market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the IoT in Agriculture market
Impact of COVID-19 on IoT in Agriculture market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on IoT in Agriculture market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the IoT in Agriculture market, we have also included competitive landscape and key innovator analysis for the IoT in Agriculture market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the IoT in Agriculture market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the IoT in Agriculture market on global as well as regional level.
The global IoT in Agriculture market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL IOT IN AGRICULTURE MARKET KEY PLAYERS
Deere & Company
Komatsu Forest AB
AG Leader Technology
GEA Farm Technology
GLOBAL IOT IN AGRICULTURE MARKET, BY COMPONENT
Sensing and Monitoring Devices
Sensors for livestock
Automation and Control Systems
Flow and Application Control Devices
Variable Rate controllers
Guidance and Navigation
Harvesters & Forwarders
RFID tags and readers
LED Grow Lights
GLOBAL IOT IN AGRICULTURE MARKET, BY APPLICATION
Fish Farm Monitoring
Others (Horticulture and orchids)
GLOBAL IOT IN AGRICULTURE MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures