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IoT in Agriculture Market by Hardware Type (Precision Farming Hardware, Precision Livestock Hardware, Precision Aquaculture Hardware, Precision Forestry Hardware, Smart Greenhouses Hardware, Others Hardware) by Farm Type (Large, Mid-Sized, Small Farms) by Farm Production Planning Stage (Pre-Production Planning, Production Planning, Post-Production Planning): Global Industry Size, Share, Statistics and Forecast 2016 – 2028

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Published: | Report ID: 7252 | Report Format : PDF

IoT in Agriculture Market Analysis

The IoT in the agriculture market is projected to grow quickly over the next five years. The growth rate of IoT in agriculture is expected to be in double digits.

Smart farming will become a possibility thanks to IoT in agriculture. IoT has disrupted all kinds of industries, including agriculture. In addition, IoT will bring significant transformations in the form of driverless cars, automated machines, and smart wearables.

Global IoT in Agriculture market is expected to witness a CAGR of 10% during the forecast period. The revenue generated by the global IoT in Agriculture market in 2021 was over USD 17,825.19 million and is expected to generate revenue worth USD 36,315.17 million in 2028. Therefore, the incremental growth opportunity offered by the global IoT in Agriculture is estimated to be USD 194 billion between 2022 and 2028.

IoT in Agriculture Market

Interesting Facts about IoT in Agriculture Industry

  • IoT in Agriculture is a part of smart agriculture technology.
  • IoT in Agriculture remote monitoring of farm conditions and infrastructure
  • IoT in Agriculture provides real-time data on farms
  • The average cost of deploying IoT in Agriculture is around USD 500 a year.
  • The use of IoT in Agriculture can help reduce energy costs by 35%, reduction in irrigation
  • water usage by 8%, and increase crop yield by 2%

Increasing Need to Improve Farming Efficiency

To support the increasing size of the world population, agriculture must leverage IoT. This will help IoT to deal with significant challenges it will face in the future, like rapidly expanding population and climate change. Weather conditions will become more extreme, and to deal with that, agriculture needs to make use of IoT.

Automation and Reduction in Cost of Farming

In short, a new workflow and paradigm are needed if agriculture is to supply increasing amounts of food in the near future. IoT in agriculture and related emerging technologies can do that. Thanks to IoT in agriculture, operating costs will be reduced since many processes will be automated. This reduced cost is one of the main drivers for IoT in agriculture. The number of connected devices in agriculture will increase rapidly over the next ten years. The year-on-year growth rate is expected to be in double digits.

Due to real-time data collection, monitoring and analysis, better decisions will be made. Thanks to IoT in agriculture, highly advanced sensors are being deployed that are connected by cellular networks. Since automatic systems will be used with increased IoT in agriculture, irrigation processes will become more efficient. Sensors are now being used to cover all aspects of farming, like how much resources a seed will consume before it starts producing crops.

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IoT in Agriculture offers a Multitude of Benefits.

IoT in agriculture will bring the next green revolution. Farmers will be able to gain several benefits owing to IoT in agriculture. Among them are increased process automation and increasingly reliable monitoring of growing conditions. This means that crop production efficiency will rise. Smart farming will become the new reality that will allow improved yields and enough crop output that can keep pace with the rapidly increasing world population. Another major benefit that will be extended by IoT in agriculture is that more crops may be grown using the same land resources. Higher yield will prove to be one of the main drivers for IoT in agriculture.

Since many farming tasks will be automated, farmer productivity will increase, and costs will go down. This will make agriculture more profitable and sustainable. The Internet of Things will allow autonomous systems to make intelligent decisions by leveraging emerging technologies like machine learning, big data, deep learning, artificial intelligence, cloud network, and 5G. IoT in agriculture will help bring many significant improvements in farming methods and efficiencies. Interconnected sensors, controllers, and cameras will be able to give rise to sustainable agriculture that can keep up with the increasing world demand for food. Farmers will be able to automatically improve their workflow and daily operations to realize several benefits courtesy of IoT in agriculture.

Precision Farming Hardware for Large Farms Dominates the Market

Precision Farming Hardware, Precision Livestock Hardware, Precision Aquaculture Hardware, Precision Forestry Hardware, Smart Greenhouses Hardware, and Others Hardware are major hardware types used in IoT in the Agriculture industry. Precision farming dominates the revenue generated by the global IoT in Agriculture market with over 40% share in 2021. Large, Mid-Sized, and Small Farms are major end-users of IoT in Agriculture. However, there are many limitations to the use of IoT in Agriculture on small farms as it costs too high to justify overall yield in small and medium farms. However, for large farms, IoT in Agriculture is proving to be very crucial in increasing crop efficiency.

Smart Greenhouses to Increase at Rapid Pace

Precision Farming, Precision Livestock, Precision Aquaculture, Precision Forestry, Smart Greenhouses, and Others are major applications of IoT in Agriculture. Precision farming held over 35% share in 2020. Pre-Production Planning, Production Planning, and Post-Production Planning are significant steps where IoT in Agriculture is deployed.

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Afimilk, AG Leader Technology, AgEagle, AgJunction, AKVA group, Allflex, CropX, Deere & Company, DeLaval, Descartes Labs, DICKEY-john, DJI, ec2ce, Eruvaka Technologies, Farmers Edge, Hexagon Agriculture, InnovaSea Systems, Komatsu Forest AB, Ponsse, PrecisionHawk, Raven Industries, Steinsvik, TeeJet Technologies, The Climate Corporation, Tigercat, Topcon Positioning Systems, and Trimble Inc. are major players operating in global IoT in Agriculture market. Key players are consistently striving for the development of the most innovative products.

1.Preface
1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary
2.1.Market Snapshot: Global IoT in Agriculture Market

3.Market Dynamics & Factors Analysis
3.1.Introduction
3.1.1. Global IoT in Agriculture Market Value, 2016-2028, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition,2021
3.3.1.Hardware Type
3.3.2.Farm Type
3.3.3.Farm Production Planning Stage
3.3.4.Application
3.3.5.Geography
3.4.Porter’s Five Forces Analysis
3.4.1.Threat of New Entrants
3.4.2.Bargaining Power of Buyers/Consumers
3.4.3.Bargaining Power of Suppliers
3.4.4.Threat of Substitute Types
3.4.5.Intensity of Competitive Rivalry
3.5.Value Chain Analysis

4.Market Positioning of Key Players, 2021
4.1.Company market share of key players, 2021
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis
5.1.Global IoT in Agriculture Market Pre Vs Post COVID 19, 2019 – 2028
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America
6.1.North America IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
6.2.1.Overview
6.2.2.Precision Farming Hardware
6.2.3.Precision Livestock Hardware
6.2.4.Precision Aquaculture Hardware
6.2.5.Precision Forestry Hardware
6.2.6.Smart Greenhouses Hardware
6.2.7.Others Hardware s
6.3.North America IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
6.3.1.Overview
6.3.2.Large
6.3.3.Mid-Sized
6.3.4.Small Farms
6.4.North America IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
6.4.1.Overview
6.4.2.Pre-Production Planning
6.4.3.Production Planning
6.4.4.Post-Production Planning
6.5.North America IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
6.5.1.Overview
6.5.2.Precision Farming
6.5.3.Precision Livestock
6.5.4.Precision Aquaculture
6.5.5.Precision Forestry
6.5.6.Smart Greenhouses
6.5.7.Others

7.Europe
7.1.Europe IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
7.2.1.Overview
7.2.2.Precision Farming Hardware
7.2.3.Precision Livestock Hardware
7.2.4.Precision Aquaculture Hardware
7.2.5.Precision Forestry Hardware
7.2.6.Smart Greenhouses Hardware
7.2.7.Others Hardware s
7.3.Europe IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
7.3.1.Overview
7.3.2.Large
7.3.3.Mid-Sized
7.3.4.Small Farms
7.4.Europe IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
7.4.1.Overview
7.4.2.Pre-Production Planning
7.4.3.Production Planning
7.4.4.Post-Production Planning
7.5.Europe IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
7.5.1.Overview
7.5.2.Precision Farming
7.5.3.Precision Livestock
7.5.4.Precision Aquaculture
7.5.5.Precision Forestry
7.5.6.Smart Greenhouses
7.5.7.Others

8.Asia Pacific
8.1.Asia Pacific IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
8.2.1.Overview
8.2.2.Precision Farming Hardware
8.2.3.Precision Livestock Hardware
8.2.4.Precision Aquaculture Hardware
8.2.5.Precision Forestry Hardware
8.2.6.Smart Greenhouses Hardware
8.2.7.Others Hardware s
8.3.Asia Pacific IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
8.3.1.Overview
8.3.2.Large
8.3.3.Mid-Sized
8.3.4.Small Farms
8.4.Asia Pacific IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
8.4.1.Overview
8.4.2.Pre-Production Planning
8.4.3.Production Planning
8.4.4.Post-Production Planning
8.5.Asia Pacific IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
8.5.1.Overview
8.5.2.Precision Farming
8.5.3.Precision Livestock
8.5.4.Precision Aquaculture
8.5.5.Precision Forestry
8.5.6.Smart Greenhouses
8.5.7.Others

9.Latin America
9.1.Latin America IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
9.2.1.Overview
9.2.2.Precision Farming Hardware
9.2.3.Precision Livestock Hardware
9.2.4.Precision Aquaculture Hardware
9.2.5.Precision Forestry Hardware
9.2.6.Smart Greenhouses Hardware
9.2.7.Others Hardware
9.3.Latin America IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
9.3.1.Overview
9.3.2.Large
9.3.3.Mid-Sized
9.3.4.Small Farms
9.4.Latin America IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
9.4.1.Overview
9.4.2.Pre-Production Planning
9.4.3.Production Planning
9.4.4.Post-Production Planning
9.5.Latin America IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
9.5.1.Overview
9.5.2.Precision Farming
9.5.3.Precision Livestock
9.5.4.Precision Aquaculture
9.5.5.Precision Forestry
9.5.6.Smart Greenhouses
9.5.7.Others

10.Middle East
10.1.Middle East IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
10.2.1.Overview
10.2.2.Precision Farming Hardware
10.2.3.Precision Livestock Hardware
10.2.4.Precision Aquaculture Hardware
10.2.5.Precision Forestry Hardware
10.2.6.Smart Greenhouses Hardware
10.2.7.Others Hardware
10.3.Middle East IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
10.3.1.Overview
10.3.2.Large
10.3.3.Mid-Sized
10.3.4.Small Farms
10.4.Middle East IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
10.4.1.Overview
10.4.2.Pre-Production Planning
10.4.3.Production Planning
10.4.4.Post-Production Planning
10.5.Middle East IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
10.5.1.Overview
10.5.2.Precision Farming
10.5.3.Precision Livestock
10.5.4.Precision Aquaculture
10.5.5.Precision Forestry
10.5.6.Smart Greenhouses
10.5.7.Others

11.Africa
11.1.Africa IoT in Agriculture Market, by Country, 2016-2028(US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
11.2.1.Overview
11.2.2.Precision Farming Hardware
11.2.3.Precision Livestock Hardware
11.2.4.Precision Aquaculture Hardware
11.2.5.Precision Forestry Hardware
11.2.6.Smart Greenhouses Hardware
11.2.7.Others Hardware
11.3.Africa IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
11.3.1.Overview
11.3.2.Large
11.3.3.Mid-Sized
11.3.4.Small Farms
11.4.Africa IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
11.4.1.Overview
11.4.2.Pre-Production Planning
11.4.3.Production Planning
11.4.4.Post-Production Planning
11.5.Africa IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
11.5.1.Overview
11.5.2.Precision Farming
11.5.3.Precision Livestock
11.5.4.Precision Aquaculture
11.5.5.Precision Forestry
11.5.6.Smart Greenhouses
11.5.7.Others

12.Global
12.1.Global IoT in Agriculture Market, by Hardware Type, 2016-2028(US$ Bn)
12.1.1.Overview
12.1.2.Precision Farming Hardware
12.1.3.Precision Livestock Hardware
12.1.4.Precision Aquaculture Hardware
12.1.5.Precision Forestry Hardware
12.1.6.Smart Greenhouses Hardware
12.1.7.Others Hardware
12.2.Global IoT in Agriculture Market, by Farm Type, 2016-2028(US$ Bn)
12.2.1.Overview
12.2.2.Large
12.2.3.Mid-Sized
12.2.4.Small Farms
12.3.Global IoT in Agriculture Market, by Farm Production Planning Stage, 2016-2028(US$ Bn)
12.3.1.Overview
12.3.2.Pre-Production Planning
12.3.3.Production Planning
12.3.4.Post-Production Planning
12.4.Global IoT in Agriculture Market, by Application, 2016-2028(US$ Bn)
12.4.1.Overview
12.4.2.Precision Farming
12.4.3.Precision Livestock
12.4.4.Precision Aquaculture
12.4.5.Precision Forestry
12.4.6.Smart Greenhouses
12.4.7.Others

13.Company Profiles
13.1.Afimilk
13.2.AG Leader Technology
13.3.AgEagle
13.4.AgJunction
13.5.AKVA group
13.6.Allflex
13.7.CropX
13.8.Deere & Company
13.9.DeLaval
13.10.Descartes Labs
13.11.DICKEY-john
13.12.DJI
13.13.ec2ce
13.14.Eruvaka Technologies
13.15.Farmers Edge
13.16.Hexagon Agriculture
13.17.InnovaSea Systems
13.18.Komatsu Forest AB
13.19.Ponsse
13.20.PrecisionHawk
13.21.Raven Industries
13.22.Steinsvik
13.23.TeeJet Technologies
13.24.The Climate Corporation
13.25.Tigercat
13.26.Topcon Positioning Systems
13.27.Trimble Inc.
13.28.Others

Frequently asked questions

How COVID 19 Impacted IoT in Agriculture Market?

Likewise other industries, COVID 19 also taken a toll on IoT in Agriculture market with around 10.39% decline in its revenue in 2020 as compare to 2019

Which is the leading regional market for IoT in Agriculture?

North America is the largest regional market with highest share in the total volume of IoT in Agriculture consumed in 2021 followed by Europe

What is the major growth driving factors for global IoT in Agriculture market?

Increasing need for increasing crop yield and efficiency of farming

Which is major segment in IoT in Agriculture market by application?

Precision Farming dominated the IoT in Agriculture market in 2021 with over 40% share

Which is major segment in IoT in Agriculture market by farm type?

Large farms was the largest distribution channel of IoT in Agriculture in 2021 with over 55% share

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