PUBLISHER: Blueweave Consulting & Research Private Limited | PRODUCT CODE: 1057226
PUBLISHER: Blueweave Consulting & Research Private Limited | PRODUCT CODE: 1057226
Global IoT in Agriculture Market, By System, By Application, By Region (North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Global IoT in Agriculture Market on the Cusp of Euphoria: Projected to Grow at a CAGR of 9.8% by 2027
The global IoT in agriculture market is growing at a high CAGR because of the adoption of advanced farming technologies, such as precision farming, to enhance farm productivity and crop yield….
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global IoT in agriculture market was worth USD 10.4 billion in the year 2020. According to the study, the market is estimated to grow at a CAGR of 9.8%, earning revenue of around USD 19.9 billion by the end of 2027. The global IoT in agriculture market is gaining significant traction owing to the changing weather patterns across the globe because of mounting global warming. This has encouraged the farmers to adopt advanced farming technologies, such as precision farming to enhance farm productivity, and crop yield, which is expected to accelerate market growth. In addition, the surge in internet penetration and smartphone usage among farmers is expected to facilitate awareness of IoT applications in agriculture and their benefits over the forecast period.
Government Initiatives for Promote Advanced Agriculture Technique Driving Market Growth
Governments of various countries are taking initiatives to create awareness surrounding the adoption and benefits of IoT in agriculture. Initiatives such as subsidies, favorable policies, and partnerships with private entities are some of the strategies the government is adopting for promoting IoT in agriculture. For instance, a new postgraduate Master's course called TERRATECH on Smart Agriculture is funded by the European Commission and is under development to create professionals with a background in agriculture and the Internet of Things. Such courses will minimize the gap of specialized professionals in IoT in agriculture and promote its market growth.
High Scope Of Adoption in Emerging Economies is Estimated to Boost the Global IoT in Agriculture Market
Agriculture in emerging economies such as India, China, Thailand, Japan, etc., is highly dependent on traditional farming methods. Several countries are highly agricultural dependent with more than 50% of their population engaged in this sector. Additionally, this makes them regions with high potential for IoT growth in agriculture. Moreover, with an increasing population, the rich farmers are adopting technologies like IoT to increase their production and crop yield. This is providing lucrative growth opportunities to the IoT in the agriculture market.
Global IoT in Agriculture Market - By System
Based on systems, the global IoT in agriculture market is segmented into automation and control systems, sensing and monitoring devices, livestock monitoring hardware, fish farming hardware, smart greenhouse hardware, and software. Among these, the software segment holds the largest share in the market. This segment is estimated to register high growth during the forecast period as well due to the massive deployment of numerous tools to control hardware such as yield monitors, soil sensors, water sensors, climate sensors used in precision farming, smart greenhouse farming, and fish farming application. Sensors and GPS devices drive the sensing and monitoring devices segment, which measures various yield parameters in order to reduce overlapping equipment passes, thus saving fuel, labor, time, and soil compaction.
Global IoT in Agriculture Market - Regional Insights
Geographically, the global IoT in agriculture market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. North America dominates the global IoT in agriculture market among these regions. However, the Asia Pacific region will be the fastest-growing market owing to augmentation in agriculture produce and population, coupled with an increase in food demand. Since developing countries like India, China, Japan, etc. are experiencing rapid population growth, the government is encouraging adoption of advanced technologies like IoT and techniques like precision agriculture, which is expected to boost the IoT in the agriculture market.
Impact of COVID-19 on Global IoT in Agriculture Market
The global IoT in agriculture market was negatively impacted by the sudden outbreak of the COVID-19 pandemic. The imposition of lockdown in several countries restricted the adoption of IoT in agriculture by hindering the production of hardware components as well as supply channels. However, this hindrance is estimated to be temporary and the IoT in agriculture market is estimated to flourish during post-COVID-19 period. According to industry analysts, the growing focus on sustainability is expected to propel the demand for IoT in agriculture, causing the market to expand.
Competitive Landscape
The leading players in the global IoT in agriculture market are Cisco Systems, Inc., IBM Corporation, Telit, Hitachi Ltd, OnFarm Systems Inc., Farmers Edge Inc., SlantRange, Inc., Deere & Company, Leader Technology, The Climate Corporation, Trimble Inc., Raven Industries, KVA group, Delaval, GEA Group, Agjunction, Antelliq, Ponsse, Komatsu Forest, and other prominent players.
The global IoT in agriculture market is dominated by global technology leaders who offer advanced IoT solutions. The companies significantly focus and invest in research and development activities to fortify their position in the market. Additionally, they continuously launch new products and solutions to stay ahead of the curve. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in the market.
Don't miss the business opportunity of the global IoT in agriculture market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global IoT in agriculture market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global IoT in agriculture market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
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Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Key Market Segments
2. Research Methodology
- 2.1. Qualitative Research
- 2.2. Methodology
- 2.3. Regional Split of Primary & Secondary Research
- 2.4. Secondary Research
- 2.5. Primary Research
- 2.5.1. Breakdown of Primary Research Respondents, By Region
- 2.5.2. Breakdown of Primary Research Respondents, By Industry Participants
- 2.6. Market Size Estimation
- 2.7. Assumptions for the Study
- 2.8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
- 4.1. Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Market Drivers
- 4.2.1.1. Increasing Adoption Of Precision Farming
- 4.2.1.2. Rising Population And Growing Food Demand
- 4.2.2. Market Restraints
- 4.2.2.1. Limited Adoption In Middle And Low Income Countries
- 4.2.3. Market Challenges
- 4.2.3.1. Negative Influence of the COVID-19 Pandemic
- 4.2.4. Market Opportunity
- 4.2.4.1. Government Initiatives To Promote Advanced Agriculture Technique
- 4.2.4.2. High Scope Of Adoption In Emerging Economies
- 4.2.1. Market Drivers
- 4.3. Recent Developments
- 4.4. Porter's Five Forces Analysis
- 4.4.1. Bargaining Power of Buyers
- 4.4.2. Bargaining Power of Suppliers
- 4.4.3. Intensity of Rivalry
- 4.4.4. Threat of New Entrants
- 4.4.5. Threat of Substitutes
5. Global IoT in Agriculture Market Overview
- 5.1. Market Size & Forecast by Value, 2017-2027
- 5.2. Market Size and Forecast, By Segment
- 5.2.1. By System
- 5.2.1.1. Automation and Control Systems
- 5.2.1.2. Sensing and Monitoring Devices
- 5.2.1.3. Livestock Monitoring Hardware
- 5.2.1.4. Fish Farming Hardware
- 5.2.1.5. Smart Greenhouse Hardware
- 5.2.1.6. Software
- 5.2.2. By Application
- 5.2.2.1. Precision Farming
- 5.2.2.2. Livestock Monitoring
- 5.2.2.3. Smart Greenhouse
- 5.2.2.4. Fish Farm Monitoring
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia-Pacific
- 5.2.3.4. Latin America
- 5.2.3.5. Middle East & Africa
- 5.2.1. By System
6. North America IoT in Agriculture Market Overview
- 6.1. Market Size and Forecast
- 6.1.1. By Value (USD Billion), 2020-2027
- 6.2. Market Share and Forecast
- 6.2.1. By System
- 6.2.2. By Application
- 6.2.3. By Country
- 6.2.3.1. U.S.
- 6.2.3.2. Canada
7. Europe IoT in Agriculture Market Overview
- 7.1. Market Size and Forecast
- 7.1.1. By Value (USD Billion), 2020-2027
- 7.2. Market Share and Forecast
- 7.2.1. By System
- 7.2.2. By Application
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. U.K.
- 7.2.3.3. Russia
- 7.2.3.4. France
- 7.2.3.5. Italy
- 7.2.3.6. Spain
- 7.2.3.7. Rest of Europe
8. APAC IoT in Agriculture Market Overview
- 8.1. Market Size and Forecast
- 8.1.1. By Value (USD Billion), 2020-2027
- 8.2. Market Share and Forecast
- 8.2.1. By System
- 8.2.2. By Application
- 8.2.3. By Country
- 8.2.3.1. China
- 8.2.3.2. India
- 8.2.3.3. Japan
- 8.2.3.4. South Korea
- 8.2.3.5. Rest of APAC
9. LATAM IoT in Agriculture Market Overview
- 9.1. Market Size and Forecast
- 9.1.1. By Value (USD Billion), 2020-2027
- 9.2. Market Share and Forecast
- 9.2.1. By System
- 9.2.2. By Application
- 9.2.3. By Country
- 9.2.3.1. Mexico
- 9.2.3.2. Brazil
- 9.2.3.3. Rest of LATAM
10. MEA IoT in Agriculture Market Overview
- 10.1. Market Size and Forecast
- 10.1.1. By Value (USD Billion), 2020-2027
- 10.2. Market Share and Forecast
- 10.3. By System
- 10.4. By Application
- 10.5. By Country
- 10.5.1. Saudi Arabia
- 10.5.2. UAE
- 10.5.3. South Africa
- 10.5.4. Rest of MEA
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis (2020)
- 11.3. Competitive Benchmarking By Operating Parameters
12. Impact of COVID-19 on Global IoT in Agriculture Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- 13.1. Cisco Systems, Inc.
- 13.2. IBM Corporation
- 13.3. Telit
- 13.4. Hitachi Ltd
- 13.5. OnFarm Systems Inc.
- 13.6. Farmers Edge Inc.
- 13.7. SlantRange, Inc.
- 13.8. Deere & Company
- 13.9. Leader Technology
- 13.10. The Climate Corporation
- 13.11. Trimble Inc.
- 13.12. Raven Industries
- 13.13. KVA group
- 13.14. Delaval
- 13.15. GEA Group
- 13.16. Agjunction
- 13.17. Antelliq
- 13.18. Ponsse
- 13.19. Komatsu Forest
- 13.20. Other Prominent Players
14. Key Strategic Recommendations
List of Figures
- Figure 1: Global IoT in Agriculture Market Segmentation
- Figure 2: Global IoT in Agriculture Market Value Chain Analysis,
- Figure 3: Company Market Share Analysis, 2020
- Figure 4: Global IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 5: Global IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 6: Global IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 7: Global IoT in Agriculture Market Share (%), By Region, By Value, 2017-2027
- Figure 8: North America IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 9: North America IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 10: North America IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 11: North America IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027
- Figure 12: Europe IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 13: Europe IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 14: Europe IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 15: Europe IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027
- Figure 16: the Asia-Pacific IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 17: the Asia-Pacific IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 18: the Asia-Pacific IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 19: Asia-Pacific IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027
- Figure 20: Latin America IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 21: Latin America IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 22: Latin America IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 23: Latin America IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027
- Figure 24: Middle East & Africa IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027
- Figure 25: Middle East & Africa IoT in Agriculture Market Share (%), By System, By Value, 2017-2027
- Figure 26: Middle East & Africa IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027
- Figure 27: Middle East & Africa IoT in Agriculture Market Share (%), By Region, By Value, 2017-2027
List of Tables
- Table 1: Global IoT in Agriculture Market Size, By System, By Value, 2017-2027
- Table 2: Global IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 3: Global IoT in Agriculture Market Size, By Region, By Value (USD Billion), 2017-2027
- Table 4: North America IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027
- Table 5: North America IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 6: North America IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027
- Table 7: Europe IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027
- Table 8: Europe IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 9: Europe IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027
- Table 10: the Asia-Pacific IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027
- Table 11: the Asia-Pacific IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 12: the Asia-Pacific IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027
- Table 13: Latin America IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027
- Table 14: Latin America IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 15: Latin America IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027
- Table 16: The Middle-East & Africa IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027
- Table 17: The Middle-East & Africa IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027
- Table 18: The Middle-East & Africa IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027
- Table 26: Cisco Systems, Inc. Financial Analysis
- Table 27: Cisco Systems, Inc. Business Overview
- Table 28: IBM Corporation Financial Analysis
- Table 29: IBM Corporation Business Overview
- Table 30: Telit Corporation Financial Analysis
- Table 31: Telit Corporation Business Overview
- Table 32: Hitachi Ltd Financial Analysis
- Table 33: Hitachi Ltd Business Overview
- Table 34: OnFarm Systems Inc. Financial Analysis
- Table 35: OnFarm Systems Inc. Business Overview
- Table 36: Farmers Edge Inc. Financial Analysis
- Table 37: Farmers Edge Inc. Business Overview
- Table 38: SlantRange, Inc. Financial Analysis
- Table 39: SlantRange, Inc. Business Overview
- Table 40: Deere & Company Financial Analysis
- Table 41: Deere & Company Business Overview
- Table 42: Leader Technology Financial Analysis
- Table 43: Leader Technology Business Overview
- Table 44: The Climate Corporation Financial Analysis
- Table 45: The Climate Corporation Business Overview
- Table 46: Trimble Inc. Financial Analysis
- Table 47: Trimble Inc. Financial Analysis
- Table 48: Raven Industries Financial Analysis
- Table 49: Raven Industries Business Overview
- Table 50: KVA group Financial Analysis
- Table 51: KVA group Business Overview
- Table 52: Delaval Financial Analysis
- Table 53: Delaval Business Overview
- Table 54: GEA Group Financial Analysis
- Table 55: GEA Group Business Overview
- Table 56: Agjunction Financial Analysis
- Table 57: Agjunction Business Overview
- Table 58: Antelliq Financial Analysis
- Table 59: Antelliq Business Overview
- Table 60: Ponsse Financial Analysis
- Table 61: Ponsse Business Overview
- Table 62: Komatsu Forest Financial Analysis
- Table 63: Komatsu Forest Business Overview
