Report Overview

Global IoT in Agriculture Market- Industry Trends & Forecast Report 2027

The global IoT in the agriculture market was worth USD 10.4 billion in 2020 and is further projected to reach USD 19.9 billion by the year 2027, growing at a CAGR of 9.8% in the forecast period. Increasing demand for higher crop yield, coupled with the growing penetration of ICT in farming is a significant factor propelling the growth of the global IoT in the agriculture market. Furthermore, the rise in the global population and an escalation in demand for food across the globe is anticipated to fuel the market in the forecast period.

Source: BlueWeave Consulting

Global IoT in Agriculture Market- Overview

IoT in Agriculture is the application of modern Information and Communication Technology (ICT) into agriculture, wherein a system is built for monitoring the crop field with the help of sensors (for light, humidity, temperature, soil moisture, etc.). It also involves the automation of the irrigation system and provides excellent benefits concerning efficient water usage and optimization of inputs & treatments. Moreover, the application of IoT agriculture also increases productivity and reduces manual work, and makes the entire farming process more efficient.

Global IoT in Agriculture Market Forecast and Trends

Growth Drivers

Increasing Adoption of Precision Farming

The governments of various countries are promoting the adoption of precision farming to limit resource consumption in the agriculture industry. Precision farming deploys new technologies to recognize variations and manage different areas of land. This assists in determining what crops and soil need in terms of water fertilizer, herbicides, and insecticides, thus assisting farming operations in increasing their yields and profits. Sensors connected to IoT can detect soil moisture, temperature, humidity, and the nutrients crops need. Due to this, the global IoT in agriculture market is estimated to gain significant traction during the forecast period.

Rising Population and Growing Food Demand

The increasing population around the world and the growing need for food production is significantly propelling the growth of the global IoT in the agriculture market. Agricultural applications of IoT include monitoring climate conditions and livestock, crop monitoring, greenhouse automation, etc., which promote its adoption. This increases agricultural production with limited resources. IoT sensors measure all kinds of data remotely and in real time which can be later used for reducing the use of resources such as water and electricity.

Restraints

Limited Adoption in Middle and Low Income Countries

The adoption of advanced technologies, such as Internet of Things and Big Data, is still highly concentrated among the farmers of developed countries. Because of financial constraints and debt burdens, many farmers rely on manual labor. Due to high population density in countries such as India and China, farming is highly dependent on manual labor, which often results in disguised unemployment. Furthermore, limited awareness towards agriculture technologies and advanced methods like precision farming in low-middle countries also acts as a major restraining factor for the market growth.

Impact of COVID-19 on Global IoT in Agriculture Market

The unprecedented outbreak of the COVID-19 pandemic negatively impacted the growth of the global IoT in the agriculture market. The deployment of IoT in applications requires sensors and other hardware components, production of which declined during the forecast period. However, with lockdown and social distancing norms, which led to a shortage of workforce and restrictions on the supply chain, the adoption of IoT declined in the agriculture industry, incurring huge losses to the market. However, the market is expected to recover soon in the post-COVID-19 period as the governments of several countries are promoting the adoption of precision farming to convert resources and promote sustainability.

Global IoT in Agriculture Market - By System

Based on the systems, the global IoT in the agriculture market is segmented into automation & control systems, livestock monitoring hardware, sensing & monitoring devices, smart greenhouse hardware, fish farming hardware, and software. The software segment holds the largest share in the market. This segment is also estimated to register at high growth during the forecast period as well due to the massive deployment of numerous tools to control hardware like yield monitors, soil sensors, water sensors, climate sensors used in precision farming, smart greenhouse farming, and fish farming application.

Global IoT in Agriculture Market - By Application

Based on applications, the global IoT in the agriculture market is categorized into precision farming, livestock monitoring, smart greenhouse, and fish farm monitoring. Precision farming accounts for the largest market share due to its IoT-enabled applications by farmers in positioning systems, remote sensing, guidance system, and variable rate technology to optimize production and efficiency. On the other hand, the livestock monitoring segment is also estimated to witness substantial growth during the forecast period owing to the expanding application of IoT system technology in agriculture for the detection of livestock’s health and location.

Global IoT in Agriculture Market - Regional Insights

Geographically, the global IoT in the agriculture market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the global IoT in the agriculture market owing to the fast and early adoption of IoT in the agriculture sector. The farmers in this region extensively use advanced systems for farming operations and equipment, such as steering and guidance systems, sensors, display devices, and farm management software. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period.

Competitive Landscape

The leading players in the global IoT in agriculture market are Cisco Systems, Inc., IBM Corporation, Telit, Hitachi Ltd, OnFarm Systems Inc., Farmers Edge Inc., SlantRange, Inc., Deere & Company, Leader Technology, The Climate Corporation, Trimble Inc., Raven Industries, KVA group, Delaval, GEA Group, Agjunction, Antelliq, Ponsse, Komatsu Forest, and other prominent players.

The market is dominated by global technology leaders who offer advanced IoT solutions. Besides launching high-tech products, the market players also significantly focus and invest in research and development activities to advance their existing products. Furthermore, the adoption of competitive strategies, such as partnerships, mergers & acquisitions, joint ventures, etc., is also prominent in the market.

Recent Developments

• In November 2021, Senet Inc., a US-based Internet of Things company, announced their partnership with Thingy IoT, a leading innovator of environmental sensors, to deliver carrier-grade LoRaWAN network services and Thingy QA Wildfire and Air Quality Monitoring Systems to farmers, public agencies, firefighting organizations, researchers.

Scope of the Report

By System

• Automation and Control Systems

• Sensing and Monitoring Devices

• Livestock Monitoring Hardware

• Fish Farming Hardware

• Smart Greenhouse Hardware

• Software

By Application

• Precision Farming

• Livestock Monitoring

• Smart Greenhouse

• Fish Farm Monitoring

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Adoption Of Precision Farming
         2. Rising Population And Growing Food Demand
      2. Market Restraints
         1. Limited Adoption In Middle And Low Income Countries
      3. Market Challenges
         1. Negative Influence of the COVID-19 Pandemic
      4. Market Opportunity
         1. Government Initiatives To Promote Advanced Agriculture Technique
         2. High Scope Of Adoption In Emerging Economies
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Global IoT in Agriculture Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By System
         1. Automation and Control Systems
         2. Sensing and Monitoring Devices
         3. Livestock Monitoring Hardware
         4. Fish Farming Hardware
         5. Smart Greenhouse Hardware
         6. Software
      2. By Application
         1. Precision Farming
         2. Livestock Monitoring
         3. Smart Greenhouse
         4. Fish Farm Monitoring
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America IoT in Agriculture Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By System
      2. By Application
      3. By Country
         1. U.S.
         2. Canada
7. Europe IoT in Agriculture Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By System
      2. By Application
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC IoT in Agriculture Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By System
      2. By Application
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM IoT in Agriculture Market Overview
   1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
   2. Market Share and Forecast
      1. By System
      2. By Application
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA IoT in Agriculture Market Overview
    1. Market Size and Forecast
       1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By System
    4. By Application
    5. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking By Operating Parameters
12. Impact of COVID-19 on Global IoT in Agriculture Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Cisco Systems, Inc.
    2. IBM Corporation
    3. Telit
    4. Hitachi Ltd
    5. OnFarm Systems Inc.
    6. Farmers Edge Inc.
    7. SlantRange, Inc.
    8. Deere & Company
    9. Leader Technology
    10. The Climate Corporation
    11. Trimble Inc.
    12. Raven Industries
    13. KVA group
    14. Delaval
    15. GEA Group
    16. Agjunction
    17. Antelliq
    18. Ponsse
    19. Komatsu Forest
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Global IoT in Agriculture Market Segmentation

Figure 2: Global IoT in Agriculture Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 5: Global IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 6: Global IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 7: Global IoT in Agriculture Market Share (%), By Region, By Value, 2017-2027

Figure 8: North America IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 9: North America IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 10: North America IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 11: North America IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027

Figure 12: Europe IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 13: Europe IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 14: Europe IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 15: Europe IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027

Figure 16: the Asia-Pacific IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 17: the Asia-Pacific IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 18: the Asia-Pacific IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 19: Asia-Pacific IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027

Figure 20: Latin America IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 21: Latin America IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 22: Latin America IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 23: Latin America IoT in Agriculture Market Share (%), By Country, By Value, 2017-2027

Figure 24: Middle East & Africa IoT in Agriculture Market Size, By Value (USD Billion), 2017-2027

Figure 25: Middle East & Africa IoT in Agriculture Market Share (%), By System, By Value, 2017-2027

Figure 26: Middle East & Africa IoT in Agriculture Market Share (%), By Application, By Value, 2017-2027

Figure 27: Middle East & Africa IoT in Agriculture Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global IoT in Agriculture Market Size, By System, By Value, 2017-2027

Table 2: Global IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 3: Global IoT in Agriculture Market Size, By Region, By Value (USD Billion), 2017-2027

Table 4: North America IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027

Table 5: North America IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 6: North America IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027

Table 7: Europe IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027

Table 8: Europe IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 9: Europe IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027

Table 10: the Asia-Pacific IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027

Table 11: the Asia-Pacific IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 12: the Asia-Pacific IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027

Table 13: Latin America IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027

Table 14: Latin America IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 15: Latin America IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027

Table 16: The Middle-East & Africa IoT in Agriculture Market Size, By System, By Value (USD Billion), 2017-2027

Table 17: The Middle-East & Africa IoT in Agriculture Market Size, By Application, By Value (USD Billion), 2017-2027

Table 18: The Middle-East & Africa IoT in Agriculture Market Size, By Country, By Value (USD Billion), 2017-2027

Table 26: Cisco Systems, Inc. Financial Analysis

Table 27: Cisco Systems, Inc. Business Overview

Table 28: IBM Corporation Financial Analysis

Table 29: IBM Corporation Business Overview

Table 30: Telit Corporation Financial Analysis

Table 31: Telit Corporation Business Overview

Table 32: Hitachi Ltd Financial Analysis

Table 33: Hitachi Ltd Business Overview

Table 34: OnFarm Systems Inc. Financial Analysis

Table 35: OnFarm Systems Inc. Business Overview

Table 36: Farmers Edge Inc. Financial Analysis

Table 37: Farmers Edge Inc. Business Overview

Table 38: SlantRange, Inc. Financial Analysis

Table 39: SlantRange, Inc. Business Overview

Table 40: Deere & Company Financial Analysis

Table 41: Deere & Company Business Overview

Table 42: Leader Technology Financial Analysis

Table 43: Leader Technology Business Overview

Table 44: The Climate Corporation Financial Analysis

Table 45: The Climate Corporation Business Overview

Table 46: Trimble Inc. Financial Analysis

Table 47: Trimble Inc. Financial Analysis

Table 48: Raven Industries Financial Analysis

Table 49: Raven Industries Business Overview

Table 50: KVA group Financial Analysis

Table 51: KVA group Business Overview

Table 52: Delaval Financial Analysis

Table 53: Delaval Business Overview

Table 54: GEA Group Financial Analysis

Table 55: GEA Group Business Overview

Table 56: Agjunction Financial Analysis

Table 57: Agjunction Business Overview

Table 58: Antelliq Financial Analysis

Table 59: Antelliq Business Overview

Table 60: Ponsse Financial Analysis

Table 61: Ponsse Business Overview

Table 62: Komatsu Forest Financial Analysis

Table 63: Komatsu Forest Business Overview