Agriculture Iot Market witnessed USD 10,300 million in 2019, growing at a robust CAGR of 9.8% during forecast period.

Agriculture IoT Market by Offering (Hardware, Software, and Services), By Agriculture Type (Precision Farming, Precision Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse and Others), By Application (Precision Farming Applications, Precision Forestry Applications, Livestock Monitoring Applications, Fish Farm Monitoring Applications, Smart Greenhouse Applications and Other Applications) and By Region – Global Opportunities & Forecast, 2020-2027

Introduction of the Global IoT Agriculture Market Research Report

Internet of Things (IoT) technology plays a vital role in improving existing agricultural productivity to satisfy growing food demand. IoT technologies can resolve agricultural problems and maximize the quantity and quality of agricultural production by linking farms across a single platform and by providing them information sharing, storage, and review options. In agriculture, IoT integrates with advanced technological tools, equipment, and solutions to increase operational efficiency and to minimize energy wastage. In IoT based smart farming, a system is constructed to monitor the crop field using sensors such as light, temperature, humidity, and to automate the irrigation system. The farmers can monitor the conditions in the field from anywhere. IoT-based smart agriculture techniques are highly efficient as compared with the traditional approach of farming.

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The major factors that are fuelling the growth of the global agriculture IoT market include the growing demand for agricultural output, increasing penetration of Internet of Things (IoT) & artificial intelligence (AI) technologies in the farming sector, and the rising government support to opt for latest agricultural techniques along with the growing focus on livestock monitoring to enhance the efficiency of farming. Moreover, the increasing penetration of drones in precision farming and the introduction of big data in agriculture farms will have a positive impact on the growing demand of the market. IoT-based technology helps in addressing agriculture issues and boosts the quality and quantity of farming production by joining via a single platform and making it interactive by sharing, analyzing, and storing the information.

The strong demand for food at the global level, followed by the rising population rate, especially in developing economies such as India, will create innumerable growth opportunities in the market. With the drastic change in the climate, it has become necessary to deploy IoT-based technologies in the agriculture sector to optimize production and minimize the chances of losses. In addition to this, the growing penetration of smartphones and the Internet among farmers will encourage them to opt for the latest technologies to boost their quantity and enhance the quality of yield. However, the lack of availability of simple and standardized data management and data aggregation tools is a factor that is likely to hamper the growth of the global agriculture IoT market in the coming years.

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Based on the offering, the market is segmented into Hardware, Software, and Services. The Services segment is anticipated to lead the market during the forecast period owing to the increasing demand for farm data analytics and data services driven by the change in the climatic condition over the past years. The IoT-based services provider includes the companies which provide farm data information and analyses it, thereby helping the farmers to make the right decision and make them alert about the farming operations.

Based on the Agricultural Type, the market is segmented into precision farming, precision forestry, livestock monitoring, smart greenhouse, fish farm monitoring, and others. Among these, the precision farming segment is projected to grow at a higher CAGR over the forecast period owing to the fundamental shift in the farmer’s preference towards improving farm efficiency and overall productivity. Precision farming is gaining popularity in the agriculture sector as it enables the farmers to use a precise application of agricultural input as per the soil, weather, and crop needs, thus improving the productivity and profitability of the farmers. In this type of farming, the farmers can use numerous IoT-based software and hardware devices to collect farm-related information, which in turn, will help in making better decisions.

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Based on the region, Europe is anticipated to lead the market over the forecast period. The increasing demand for food driven by the rise in population rate, drastic change in climatic conditions, a significant shift in the diet patterns, and the rising scarcity of natural resources is encouraging the adoption of IoT-based technologies in the agriculture sector in the region. The farmers around the European countries are increasingly using smart agricultural technologies, such as yield monitoring, GNSS technology in guidance, and crop scouting. In Germany, the growing trend of animal tracking, cattle management, and other livestock monitoring technologies will attract a large number of consumers in the market. All these factors, along with the new era of technological development, are the key factors responsible for strengthening market growth in the region.

Various notable players in the Agriculture IoT market include Deere & Company, Trimble Inc., AGCO Corporation, Raven Industries, Inc., DeLaval, GEA Group, AgJunction, Merck & Co., Inc., Ponsse Oyj, and Komatsu Forest, among others.

Key Developments:

• • In 2019, AGCO Corporation announced to enter into a strategic partnership with Solinftec, a world-leading developer and distributor of digital agriculture solutions. With this partnership, AGCO Corporation’s customers will get access to the solution portfolio of Solinftech, such as on-board computers, weather stations, soil sensors, and many more.
  • In 2019, Raven Industries, Inc. announced to enter into an agreement with Dot Technology Corp. The agreement focuses on opening a new path to autonomy for farmers and bring disruptive technologies into the market.

The global Agriculture IoT market has been segmented on the basis of offering, agriculture type, application and region. Based on offering, the market is segmented into Hardware, Software, and Services. Based on agriculture type, the market is segmented into Precision Farming, Precision Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse and Others. Based on application, the market is segmented into Precision Farming Applications, Precision Forestry Applications, Livestock Monitoring Applications, Fish Farm Monitoring Applications, Smart Greenhouse Applications and Other Applications.

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Key questions answered in this research report:

• • At what pace is global Agriculture IoT market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Agriculture IoT market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Agriculture IoT market?
  • Which offering generated maximum revenues in 2019 and identify the most promising offering during the forecast period?
  • What are the various application areas of global Agriculture IoT market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 10,300 million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Offering, By Agriculture Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Deere & Company, Trimble Inc., AGCO Corporation, Raven Industries, Inc., DeLaval, GEA Group, AgJunction, Merck & Co., Inc., Ponsse Oyj, and Komatsu Forest; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Agriculture IoT Market by Offering

• • Hardware
    • Precision Farming Hardware
      • Automation and Control Systems
        • Drones/UAVS
        • Irrigation Controllers
        • GPS/GNSS Systems
        • Flow and Application Control Devices
        • Guidance and Steering
        • Handheld Mobile Devices/Handheld Computers
        • Displays
        • Others
      • Sensing and Monitoring Devices
        • Yield Monitors
        • Soil Sensors
        • Water Sensors
        • Climate Sensors
        • Others
    • Precision Forestry Hardware
      • Harvesters & Forwarders
      • UAVS/Drones
      • GPS
      • Cameras
      • RFID and Sensors
      • Variable Rate Controllers
      • Others
    • Livestock Monitoring Hardware
      • RFID Tags and Readers
      • Sensors
      • Control System
      • GPS
      • Others
    • Fish Farm Monitoring Hardware
      • GPS/GNSS
      • Sensors
      • Others
    • Smart Greenhouse Hardware
      • HVAC Systems
      • Led Grow Lights
      • Sensors
    • Others
  • Software
    • Local/Web Based
      Cloud Based
  • Services
    • System Integration and Consulting
    • Managed Services
      • Farm Operation Services
      • Data Services
      • Analytics
    • Connectivity Services
    • Assisted Professional Services
      • Supply Chain Management Services
      • Climate Information Services
      • Others
    • Maintenance and Support

Global Agriculture IoT Market by Agriculture Type

• • Precision Farming
  • Precision Forestry
  • Livestock Monitoring
  • Fish Farm Monitoring
  • Smart Greenhouse
  • Others

Global Agriculture IoT Market by Application

• • Precision Farming Applications
    • Yield Monitoring
    • Field Mapping
    • Crop Scouting
    • Weather Tracking and Forecasting
    • Irrigation Management
    • Inventory Management
    • Farm Labor Management
    • Financial Management
    • Others
  • Precision Forestry Applications
    • Genetics and Nurseries
    • Silviculture and Fire Management
    • Harvesting Management
    • Inventory and Logistics Management
  • Livestock Monitoring Applications
    • Feeding Management
    • Heat Stress Management
    • Milk Harvesting Management
    • Breeding Management
    • Animal Comfort Management
    • Behavior Monitoring and Management
    • Others
  • Fish Farm Monitoring Applications
    • Fish Tracking and Fleet Navigation
    • Feeding Management
    • Water Quality Management
    • Others
  • Smart Greenhouse Applications
    • HVAC Management
    • Yield Monitoring
    • Water and Fertilizer Management
  • Other Applications

Global Agriculture IoT Market by Region

• • North America Agriculture IoT Market(Option 1: As a part of the free 25% customization)
    • North America Agriculture IoT Market by Offering
    • North America Agriculture IoT Market by Agriculture Type
    • North America Agriculture IoT Market by Application
    • United States of America (US) Agriculture IoT Market All-Up
    • Canada Agriculture IoT Market All-Up
  • Europe Agriculture IoT Market(Option 2: As a part of the free 25% customization)
    • Europe Agriculture IoT Market by Offering
    • Europe Agriculture IoT Market by Agriculture Type
    • Europe Agriculture IoT Market by Application
    • United Kingdom (UK) Agriculture IoT Market All-Up
    • Germany All-Up Agriculture IoT Market All-Up
    • France Agriculture IoT Market All-Up
    • Spain Agriculture IoT Market All-Up
    • Rest of Europe Agriculture IoT Market All-Up
  • Asia-Pacific Agriculture IoT Market(Option 3: As a part of the free 25% customization)
    • Asia-Pacific Agriculture IoT Market by Offering
    • Asia-Pacific Agriculture IoT Market by Agriculture Type
    • Asia-Pacific Agriculture IoT Market by Application
    • China Agriculture IoT Market All-Up
    • India Agriculture IoT Market All-Up
    • Japan Agriculture IoT Market All-Up
    • Rest of APAC Agriculture IoT Market All-Up
  • RoW Agriculture IoT Market(Option 4: As a part of the free 25% customization)
    • RoW Agriculture IoT Market by Offering
    • RoW Agriculture IoT Market by Agriculture Type
    • RoW Agriculture IoT Market by Application
    • Brazil Agriculture IoT Market All-Up
    • South Africa Agriculture IoT Market All-Up
    • Saudi Arabia Agriculture IoT Market All-Up
    • UAE Agriculture IoT Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Agriculture IoT Market All-Up

Global Agriculture IoT Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Deere & Company
  • Trimble Inc.
  • AGCO Corporation
  • Raven Industries, Inc.
  • DeLaval
  • GEA Group
  • AgJunction
  • Merck & Co., Inc.
  • Ponsse Oyj
  • Komatsu Forest