Agriculture IoT Market Scope
Nowadays, the agriculture industry is witnessing a major shift due to technologies of the industry 4.0. The farming industry is benefits from technological development from planting and watering to crop health and harvesting. These technologies subcategorize into three parts such as autonomous robots, drones or UAVs, and sensors, and the IoT. Recently, Nurturing Africa’s Digital Revolution for Agriculture (NADiRA) an innovative action to develop earth observation in contractual smallholder agriculture, improving risk management, productivity, financial security, and welfare benefits for all value chain stakeholders. The NADiRA industrialized processing chains desired for satellite augmented detection of plot-level agronomic practices with the supports of IoT sensors networks and multi-model simulations. This helps the agriculture value chain by linking agriculture smallholders to banks, insurance, input suppliers to cover the requirements of the entire agriculture value chain.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Deere & Company (United States), Trimble (United States), Raven Industries (United States), AGCO Corporation (AGCO) (United States), AgJunction Inc. (AgJunction) (United States), DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France) and AG Leader Technology (AG Leader) (United States) |
CAGR | % |
There are various companies that are operating in this industry and heavily investing in technology development. There are various market players are entering this industry to capture market growth opportunities. The market leaders are investing in organic and non-organic strategic growth initiatives to become dominant in this industry. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Agriculture IoT market throughout the predicted period.
Deere & Company (United States), Trimble (United States), Raven Industries (United States), AGCO Corporation (AGCO) (United States), AgJunction Inc. (AgJunction) (United States), DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France) and AG Leader Technology (AG Leader) (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Tigercat (Canada), Ponsse (Finland) and Komatsu Forest AB (Sweden).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Agriculture IoT market by Type , by Application (Precision Farming, Precision Forestry, Livestock Monitoring, Fish Farm Monitoring, Smart Greenhouse and Others) and Region with country level break-up.
On the basis of geography, the market of Agriculture IoT has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In Nov 2020, Precision farming pioneer start-up announced the launch of an IoT and sensors-based system known as Fasal Kranti. This IoT device designed to aims to make farming for enhancing its profitability in making optimized data-driven decisions on the farm concerning irrigation, and others.
Influencing Trend:
Huge Investment in Research and Development and Increase Adoption of Digital Farming Solution to Improve Risk Management and Value Chain Efficiency
Market Growth Drivers:
Growing Focus on Livestock Monitoring and Disease Detection, Rising Demand for Agricultural Production Output and Governments Support to Adopt Modern Agricultural Techniques
Challenges:
Lack of Availability of Simple and Standardized Data Management and Other Tools
Restraints:
High Cost Required in Technology Development and Less Presence of Technical Knowledge and Skills of Farmers
Opportunities:
Development in Big Data in Agriculture Farm, High Adoption of the Smartphones for Agriculture Specific Applications and Acceptance of Drones in Precision Farming
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Agriculture IoT Providers, Government Regulatory and Research Organizations and End-Use Industries