Global IoT in Agriculture Market is valued approximately USD 30.72 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 12.60% over the forecast period 2024-2032. The IoT in Agriculture used for connected devices, sensors, and technology solutions to enhance various agricultural processes and practices. These IoT technologies are employed to monitor, manage, and optimize agricultural operations, leading to improved efficiency, productivity, and sustainability in farming practices. Precision agriculture continues to gain momentum as farmers seek to optimize resource use and improve crop yields. IoT technologies enable precise monitoring and management of factors such as soil moisture, temperature, and nutrient levels, allowing for targeted interventions and more efficient farming practices. This trend highlights the evolution and diversification of the IoT in Agriculture market, driven by technological innovation, and the increasing adoption of digital solutions in the agricultural sector.
The growing global population and escalating food demand are significant drivers propelling the demand for Global IoT in the Agriculture Market. The Food and Agriculture Organization (FAO) of the United Nations (UN), it projected that in 2050, the global population can spread 9.8 billion people and to feed the global population, food production need to be surge by 70% in 2050. Farmers are increasingly turning to IoT technologies to enhance agricultural productivity, optimize resource utilization, and improve crop yields. With the help of IoT devices such as sensors, drones, and smart irrigation systems, farmers can monitor vital factors such as soil moisture, temperature, and crop health in real-time. This enables them to make informed decisions, implement precision agriculture practices, and maximize the efficiency of their operations. Furthermore, IoT solutions facilitate predictive analytics, allowing farmers to anticipate and mitigate potential risks such as pests, diseases, and adverse weather conditions. However, high cost and a lack of infrastructure can stifle market growth between 2022 and 2032.
The key regions considered for the Global IoT in Agriculture Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market and expected to develop at the fastest rate over the forecast period 2024-2032. With a large and rapidly growing population, countries in the Asia Pacific region face increasing pressure to enhance agricultural productivity and food security. IoT technologies offer solutions to optimize resource use, improve crop yields, and address the challenges of feeding growing urban populations. Governments in the region are actively promoting the adoption of digital technologies in agriculture through various initiatives, incentives, and investments. Countries such as India, China, and Japan have launched programs to support the development and deployment of IoT solutions in agriculture, driving Global IoT in Agriculture Market growth. For instance, in March 2024, the Union Minister of Agriculture announced that it has inaugurated an agriculture-integrated command and control center at Krishi Bhawan, Delhi to empower farmers in new dimension of digital technology.
Major market player included in this report are:
- Climate LLC
- Hitachi, Ltd
- International Business Machines Corporation
- Farmers Edge Inc.
- Cisco Systems, Inc.
- Trimble Inc.
- Telit Corporate Group
- SWIIM System, Ltd.
- Decisive Farming Corp.
- SlantRange, Inc.
The detailed segments and sub-segment of the market are explained below:
By System
- Automation and control systems
- Sensing and monitoring devices
- Livestock monitoring Hardware
- Fish farming hardware
- Smart greenhouse hardware
- Software
By Farm Type
- Large
- Mid Size
- Small Farms
By Application
- Precision farming
- Livestock monitoring
- Smart greenhouse
- Fish farm monitoring
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global IoT in Agriculture Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
Chapter 2. Executive Summary
- 2.1. Global IoT in Agriculture Market Size & Forecast (2022- 2032)
- 2.2. Regional Summary
- 2.3. Segmental Summary
- 2.3.1. By System
- 2.3.2. By Farm Type
- 2.3.3. By Application
- 2.4. Key Trends
- 2.5. Recession Impact
- 2.6. Analyst Recommendation & Conclusion
Chapter 3. Global IoT in Agriculture Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
Chapter 4. Global IoT in Agriculture Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global IoT in Agriculture Market Size & Forecasts by System 2022-2032
- 5.1. Automation and control systems
- 5.2. Sensing and monitoring devices
- 5.3. Livestock monitoring Hardware
- 5.4. Fish farming hardware
- 5.5. Smart greenhouse hardware
- 5.6. Software
Chapter 6. Global IoT in Agriculture Market Size & Forecasts by Farm Type 2022-2032
- 6.1. Large
- 6.2. Mid Size
- 6.3. Small Farms
Chapter 7. Global IoT in Agriculture Market Size & Forecasts by Application 2022-2032
- 7.1. Precision farming
- 7.2. Livestock monitoring
- 7.3. Smart greenhouse
- 7.4. Fish farm monitoring
Chapter 8. Global IoT in Agriculture Market Size & Forecasts by Region 2022-2032
- 8.1. North America IoT in Agriculture Market
- 8.1.1. U.S. IoT in Agriculture Market
- 8.1.1.1. System breakdown size & forecasts, 2022-2032
- 8.1.1.2. Farm Type breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada IoT in Agriculture Market
- 8.2. Europe IoT in Agriculture Market
- 8.2.1. U.K. IoT in Agriculture Market
- 8.2.2. Germany IoT in Agriculture Market
- 8.2.3. France IoT in Agriculture Market
- 8.2.4. Spain IoT in Agriculture Market
- 8.2.5. Italy IoT in Agriculture Market
- 8.2.6. Rest of Europe IoT in Agriculture Market
- 8.3. Asia-Pacific IoT in Agriculture Market
- 8.3.1. China IoT in Agriculture Market
- 8.3.2. India IoT in Agriculture Market
- 8.3.3. Japan IoT in Agriculture Market
- 8.3.4. Australia IoT in Agriculture Market
- 8.3.5. South Korea IoT in Agriculture Market
- 8.3.6. Rest of Asia Pacific IoT in Agriculture Market
- 8.4. Latin America IoT in Agriculture Market
- 8.4.1. Brazil IoT in Agriculture Market
- 8.4.2. Mexico IoT in Agriculture Market
- 8.4.3. Rest of Latin America IoT in Agriculture Market
- 8.5. Middle East & Africa IoT in Agriculture Market
- 8.5.1. Saudi Arabia IoT in Agriculture Market
- 8.5.2. South Africa IoT in Agriculture Market
- 8.5.3. Rest of Middle East & Africa IoT in Agriculture Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Climate LLC
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Hitachi, Ltd
- 9.3.3. International Business Machines Corporation
- 9.3.4. Farmers Edge Inc.
- 9.3.5. Cisco Systems, Inc.
- 9.3.6. Trimble Inc.
- 9.3.7. Telit Corporate Group
- 9.3.8. SWIIM System, Ltd.
- 9.3.9. Decisive Farming Corp.
- 9.3.10. SlantRange, Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes