The global IoT in agriculture market size is showing chances of crossing a valuation of USD 34.88 Bn by 2027 using a CAGR of 13.6% during the forecast period (2020 to 2027). Market Research Future (MRFR) declared in the report that the internet of things agriculture market is expected to benefit from growing government participation, the inclusion of latest technologies to support the rising demand for food, the need for a better profit margin for the farmers, and others. In addition, research labs are getting higher funds that can ensure better outcomes.
The global report, published by MRFR experts on the IoT in the agriculture market, includes a study based on a segmentation of components and applications.
By component, the global IoT in agriculture market includes a study of software, system, and services. The system segment encompasses fish farming systems, sensing and monitoring systems, livestock monitoring systems, automation, smart greenhouse systems, and control systems, and others. The sensing and monitoring systems comprise water sensors, yield monitors, climate sensors, soil sensors, and others. The fish farming systems segment includes sensors, GPS/GNSS, and others. The livestock monitoring systems have sensors, RFID tags and readers, control systems, GPS, and others. The automation and control systems segment encompasses studies on irrigation controllers, flow and application control devices, GPS/GNSS systems, drones/UAVs, handheld mobile devices/handheld computers, guidance and steering, displays, and others.
By application, the global IoT in the agriculture market incorporates aspects of precision crop farming, livestock monitoring, aquaculture, indoor farming, water supply management, integrated pest management, and others.
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Infrastructural advantage and better support from the investors are expected to keep North America and Europe in advantageous positions. Asia Pacific’s reliance on the agrarian economy is also going to bolster the regional market growth.
The global market report on the IoT in the agriculture market covers the strategic moves of companies like Grownetics (US), Deere & Company (US), Dickey John (US), Precisionhawk Inc. (US), Scicrop (Brazil), CropIn (US), Shivrai Technologies Pvt. Ltd (India), Trimble Inc. (US), Rapidsoft Technologies Pvt. Ltd (US), Proagrica (US), AG Leader Technology (US), Raven Industries (US), Topcon Corporation (Japan), DuPont Pioneer (US), Tigercat (US), IBM Corporation (US), Hexagon Agriculture (Sweden), Decisive Farming (Canada), Cainthus (Ireland), Tree Metrics (Ireland), Descartes Labs (US), Sky (Canada), Nileworks Inc. (Japan), Autonomous Tractor Corporation (US), and Gamaya (Switzerland).
In September 2020, three leading Indian technology institutions – Gauhati University, IIT Bombay, and the Dhirubhai Ambani Institute of Information and Communication Technology from Gandhinagar announced a collaboration to develop high-tech sensors that can be used in agriculture. In agriculture, this use of the sensor is not new, but these institutes are promising a major hike in the process.
The technology these three institutes are planning to develop would be advanced and can be used along with Internet-of-Things (IoT). These would contain ‘ultra-small graphene particles’, developed by using graphene quantum dots that are nano-sized fragments of graphene.
In Cambodia, climate change is wreaking havoc. Agriculture is the mainstay of the country but due to irregular droughts and floods, the country is now witnessing a lack of production and is facing a severe financial crunch. IoT and AI can be a solution for such a large-scale crisis, which would help farmers in becoming more specific in their pursuit.
During the COVID-19 crisis, the global economy took a hit, which might deter the process of incorporating IoT in the agriculture market.
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
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