Market Overview
The primary need to control operation factors optimizing the use of water and pesticides is anticipated to promote the IoT in the agriculture market 2020. The ICT industry reports are produced by Market Research Future, which highlights IoT in Agriculture market options for expansion. The IoT in Agriculture Market Growth is projected as USD 22.4 Billion by 2030 is likely to be recorded with the aid of a CAGR of 9.20%.
The need to lessen water usage and greenhouse gas emissions is likely to push the growth of the IoT in Agriculture market share. The demand to increase the crop yields while curtailing the cost of production is estimated to raise the demand for the IoT in the agriculture market in the coming period.
Key Players
The central companies in the IoT in Agriculture market are Dickey John (US), Cainthus (Ireland), Descartes Labs (US), Raven Industries (US), CropIn (US), Trimble Inc. (US), Scicrop (Brazil), Precisionhawk Inc. (US), Shivrai Technologies Pvt. Ltd (India), Proagrica (US), AG Leader Technology (US), Deere & Company (US), Rapidsoft Technologies Pvt. Ltd (US),IBM Corporation (US), Hexagon Agriculture (Sweden), DuPont Pioneer (US), Tigercat (US), Tree Metrics (Ireland), Decisive Farming (Canada), Topcon Corporation (Japan), Autonomous Tractor Corporation (US), Sky (Canada), Grownetics (US), Nileworks Inc. (Japan), and Gamaya (Switzerland).
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Segmental Analysis
The segmental insight into the IoT in the agriculture market has been conducted based on application, component, and region. Based on the component, the IoT in Agriculture market has been segmented into system, software, and services. Based on the applications, the IoT in the agriculture market has been segmented into precision crop farming, indoor farming, livestock monitoring, aquaculture, water supply management, integrated pest management, and others. Based on the regions, the IoT in the agriculture market is segmented into Europe, Asia-Pacific, the Middle East, North America, Africa, and South America.
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Regional Analysis
The regional investigation of the IoT in Agriculture market has been carried out for regions of Europe, Asia-Pacific, the Middle East, North America, Africa, and South America. The North American region’s market has the biggest portion in the IoT in Agriculture market as the sellers in this region are funding extensively R&D activities, which has led to improvement of technologies in automation & control systems, sensing & monitoring systems, the use of IoT sensors for livestock monitoring, indoor farming, precision crop farming, and other purposes. The US shows the way for market development in the North American region as it has elevated digitalization in the agricultural sector, and it is anticipated that just about 80% of farmers employ smart farming technology. The intense weather conditions owing to climate change have caused loss of arable land and have subsequently given rise to elevated adoption of IoT for escalating the volume and quality of the crop yield.
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