Agriculture IoT Market

Agriculture IoT Market

The agriculture IoT market is projected to register a CAGR of 10% during the forecast period, up from USD 11.5 Billion in 2021 to reach a valuation of USD 32.8 Billion by 2032.

The agriculture IoT market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfill the demand for agriculture IoT making it more accessible to customers in the global agriculture IoT market.

Report Attribute	Details
Estimated Base Year Value (2021)	USD 11.5 Billion
Expected Market Value (2022)	USD 12.65 Billion
Anticipated Forecast Value (2032)	USD 32.8 Billion
Projected Growth Rate (2022 to 2032)	10% CAGR

Sales of agriculture IoT are expected to rise significantly. In addition to this, sales of agriculture IoT are rising, accounting for USD 18.5 Billion by 2026. Increasing sales of agriculture IoT is also projected to contribute to the growth of the agriculture IoT market share.

Drones are used in agriculture IoT to analyze crop health, monitor crops, sow crops, spray crops, irrigate fields, and do field analysis. Drones are also used to collect data using a variety of sensors for mapping, imaging, and surveying agricultural land.

Plant counting, plant height, yield projection, stockpile measurement, drainage mapping, weed pressure mapping, and other insights are derived from the data gathered by a drone.

Manufacturers in the agriculture IoT market get a big platform from which to serve the whole demand for agriculture IoT. The worldwide sales of agriculture IoT are seeing increased competition. With growing competition, new competitors are offering a variety of options at reasonable pricing, fulfilling the demand for agriculture IoT more accessible to customers.

DeLaval, SmartCultiva Corporation, Crop Metrics, Raven Industries, and AeroFarms are among the leading companies in the agriculture IoT industry.

What are the Key Growth Propellers in the Agriculture IoT Market Share

Greenhouse farming helps to increase agricultural, fruit, and vegetable yields. In greenhouse farming, the ambient conditions are manually regulated, resulting in production losses and a less effective strategy. Smart greenhouses, which utilise IoT to monitor and manage the environment, reduce the need for physical intervention.

Different sensors are utilised to manage the environment depending on the need. Light levels, humidity, pressure, and temperature are all measured by IoT sensors. Through the usage of Wi-Fi, the sensors operate the actuators to regulate the heating, turn on the light, and open a window.

Precision farming is a method of making agricultural procedures more precise and regulated in order to raise livestock and cultivate crops. The utilisation of information technology and objects such as sensors, robots, control systems, automated hardware, and so on are crucial components of this strategy.

VRI optimization, which helps to boost yields and increase water usage efficiency, is one of the products and services offered by Crop Metrics, a precision agricultural company.

Owing to the most farmer groups are unfamiliar with the term 'internet of things' adoption and sales of agriculture IoT are low. Farmers are not provided adequate training in the demand for agriculture IoT, which limits the growth of the agriculture IoT industry.

Which is the Key Agriculture IoT Market

Geographically, North America and Europe have a major in the agriculture IoT market share, owing to factors such as rising food trade value. Furthermore, the Asia Pacific industrial sales of agriculture IoT systems are predicted to expand as the region's governments embrace precision farming. Agriculture IoT market prospects are emerging in the Middle East and Africa.

How is the Competitive Landscape in the Agriculture IoT Market

DeLaval, SmartCultiva Corporation, Crop Metrics, Raven Industries, and AeroFarms are among the leading companies in the agriculture IoT industry.

Recent developments in the Agriculture IoT Market:

• Deere & Company released an improved version of ExactRate in March 2021, which is an on-planter technology that fertilises new crops twice as fast as before and minimises the amount of fertiliser tank refills required during planting.
• DeLaval added the RC550 and RC700 to their robot lineup in February 2021. These robots were created to increase cow comfort and hoof condition on solid flooring. Any form of manure may be handled by the collector thanks to their innovative rotational dung intake technology, and no additional water is required.
• Raven Industries debuted its first autonomous farm device for harvesting activities in January 2021. It assists farmers in monitoring autonomous cars by allowing them to create field plans, modify speeds, and track location activities.
• Trimble Inc. bought Midstates VRS, a network previously owned by Butler Machinery and Frontier Precision, in December 2020. Trimble's VRS Now® GNSS connections now have a larger footprint as a result of this purchase. Trimble VRS now covers more than 1 million square miles in North America as a result of this purchase. This purchase is excellent for providing precision agriculture with a high-performance GNSS system.
• Innovasea Systems unveiled new V3 acoustic telemetry transmitters in November 2020, the smallest in its industry-leading portfolio of fish monitoring tags. It allows researchers and scientists to examine both smaller and larger fish species that are in the early stages of their life cycles.
• The AKVA group signed a deal with Nordic Aqua Ningbo in November 2020 to provide a comprehensive RAS facility outside of Shanghai. In 2026, the project is expected to produce 8,000 tonnes of steel.
• Deere & Company bought Unimil (Brazil), a Brazilian producer of sugarcane harvester aftermarket components, in September 2020. The firm made investments in the Brazilian market as a result of this purchase, which will assist clients in Brazil lower their sugarcane production costs. Deere would also be able to provide a broader range of components with more cost-effective options for consumers as a result of this purchase.

Scope of Report

Report Attribute	Details
Growth rate	CAGR of 10% from 2022 to 2032
Base year for estimation	2021
Historical data	2015 to 2020
Forecast period	2022 to 2032
Quantitative units	Revenue in USD Billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered	Component, system, application, region
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand
Country scope	USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	DeLaval; SmartCultiva Corporation; Crop Metrics; Raven Industries; and AeroFarms.
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail of customized purchase options to meet your exact research needs.

Table of Content

• 1. Executive Summary
• 2. Industry Introduction, including Taxonomy and Market Definition
• 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
• 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
• 5. Pricing Analysis
• 6. Global Market Analysis and Forecast
  • 6.1. Component
  • 6.2. System
  • 6.3. Application
• 7. Global Market Analysis and Forecast, By Component
  • 7.1. Hardware
  • 7.2. Software
• 8. Global Market Analysis and Forecast, By System
  • 8.1. Sensing and monitoring system
  • 8.2. Automation and control system
  • 8.3. Others
• 9. Global Market Analysis and Forecast, By Application
  • 9.1. Livestock Monitoring
  • 9.2. Smart Greenhouse
  • 9.3. Precision Farming
  • 9.4. Others
• 10. Global Market Analysis and Forecast, By Region
  • 10.1. North America
  • 10.2. Latin America
  • 10.3. Europe
  • 10.4. East Asia
  • 10.5. South Asia
  • 10.6. Oceania
  • 10.7. Middle East and Africa
• 11. North America Sales Analysis and Forecast, by Key Segments and Countries
• 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
• 13. Europe Sales Analysis and Forecast, by Key Segments and Countries
• 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries
• 15. South Asia Sales Analysis and Forecast, by Key Segments and Countries
• 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries
• 17. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries
• 18. Sales Forecast by Component, System, and Application for 30 Countries
• 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
• 20. Company Profile
  • 20.1. DeLaval
  • 20.2. SmartCultiva Corporation
  • 20.3. Crop Metrics
  • 20.4. Raven Industries
  • 20.5. AeroFarms