Market Forecasts (2024-2032):

The Internet of Things (IoT) in Agriculture Market size was valued at USD 42.89 Billion in 2023 and is poised to grow from USD 48.11 Billion in 2023 to USD 107.41 Billion by 2032, growing at a CAGR of 12.16% in the forecast period (2024-2032).

The agricultural IoT (Internet of Things) sector is expanding fastly and connects digital technology with traditional methods of farming to increase farming productivity, long term sustainability and efficiency. This market is growing as a result of farmers utilizing smart technology more frequently, the growing necessity for precision farming and the high need for real time data to aid in decision-making.

An agricultural IoT is just about integrating sensors and linked devices into farming processes. This gadget collect and transmit data on a range of topics including crop health, weather, soil moisture and equipment performance. Farmers may improve crop yields, reduce operating costs and make better use of resources by using this data to get valuable insights about their farming practices.

This type of farming is supported by Agricultural IoT in which it is one of its main benefits. Using precise input amounts such as water, fertilizer and pesticides based on actual time data and analysis is known as precision farming. By using this technique a farming efficiency is increased overall, waste is decreased and the environmental impact is avoided. For example soil sensors can give farmers information on the state of their soil allowing them to modify nutrient and timing of watering as necessary. In addition to saving resources for this raises crop output and health.

The remote monitoring and control of farm operations is made possible via agricultural IoT. Farmers are able to manage their operations from any location by using smart phone apps or web platforms to get data from their farms. Large farms or those in remote locations where direct super vision is challenging will find this extremely helpful. A Smart irrigation systems and autonomous tractors are examples of automated systems that can be linked to IoT platforms to further boost productivity and decrease the need for human labour.

The Technological developments in fields like big data analytics, machine learning and artificial intelligence (AI) are also propelling the growth of the agricultural IoT market. AI is capable of analyzing IoT device data to identify problems, forecast trends, and provide useful insights. For example, machine learning can alert farmers to impending crop illnesses or pest outbreaks so they may take preventative measures and minimize losses.

There is a rising focus on environmental preservation and sustainability in which it is resulting in the creation of Internet of Things solutions that support environmentally friendly farming methods. An agricultural IoT facilitates farmers adoption of more sustainable practices such as minimizing chemical runoff and optimizing water use by offering data driven insights.

Fresh advances in connectivity, data processing tools and sensor technologies are expected as the Agricultural IoT market grows. IoT will probably continue to grow and open up new possibilities when it combines with other cutting-edge technologies, including drones for aerial monitoring and block chain for supply chain transparency.

Market Dynamics - Market Drivers

Strong Government Support for Promoting Use of Precision Farming Techniques

• A governments see how important precision farming is to improving farm production, sustainability and food security, They are starting to support it more and more. To assist farmers in using these morden farming methods more money is being allocated to research, policies and subsidies. This is support to takes the form of training programs to teach farmers how to using these technologies efficiently, sponsoring research on topics like sensors, data processing, and self driving robots and grants and subsidies for the purchase of new equipment. Governments aim to increase crop yields, minimize environmental harm and encourage more effective use of resources like water and fertilizers by promoting innovation and precision farming. In addition to increasing farmers output and profits also this advances more general objectives like climate resiliency and sustainable agriculture.

Increasing Adoption of IoT and AI for Various Agricultural Applications

• Agriculture business is undergoing a transformation due to the expanding usage of IoT (Internet of Things) and AI (Artificial Intelligence), which are enhancing farm operations, increasing production and making farming more sustainable. IoT refers to the use of networked sensors and devices to collect data in real time on various agricultural variables such as crop health, weather and soil moisture. After that AI examines the data to provide detailed evaluation that enables farmers to make more informed decisions. AI, for example, may evaluate data from soil sensors to better control pests, forecast illnesses in crops and schedule irrigation schedules. Precision farming in which it reduce waste and environmental effect by using resources like water and fertilizers more precisely, is made possible by the convergence of IoT and AI. AI can also aid in supply chain management and crop yield forecast. Overall combining IoT and AI helps more robust and sustainable farming methods in addition to increasing farmings productivity and profitability.

Market Opportunities

Growing adoption of UAVs or drones in agricultural farms

• Modern farms are operating differently as a result of the growing usage of drones, also known as unmanned aerial vehicles, or UAVs, which offer advanced techniques for monitoring fields and gathering data from the air. Drones with multispectral sensors and high resolution cameras are able to take precise pictures and record data in real time over sizable agricultural regions and providing insights into factors such as crop health, soil characteristics and variations between fields. With the aid of this overhead view, farmers can monitor their crops more closely identify issues such as pest infestations or nutrient shortages early on and decide how best to address them. In order avoid waste and the negative effects on the environment, precision farming also benefits greatly from the precise administration of inputs like pesticides and fertilizers which is made possible by drone technology. They are also helpful for managing land, yield estimation and field mapping. Drones are expected to be used in agricultural more and more as they become more economical and advanced in which it will increase farming sustainability and production.

Market Restraining Factors

High upfront cost for deployment of modern agricultural equipment

• One of the biggest difficulties to the broad application of advanced agricultural technologies are the high initial cost for modern farming equipment. Precision machinery, complex sensors and automated systems are examples of equipment that frequently necessitates a important investment of both in the equipment and in the infrastructure that supports it. Many farmers are particularly those with small to medium sized farms, may find it difficult to obtain the funding or finance they want because of this upfront financial load. The intricate features innovative designs and substantial research and development that go into these technologies typically account for their expensive cost. High upfront cost of these investments may deter farmers from using them despite the fact that they can have significant long term benefits like increased productivity, increased yields and decreased operating expenses. Governments and financial organizations are progressively providing subsidies, grants and low interest loans to farmers in order to enable them buy modern equipment in order to address this issue. Technology companies are also trying to find ways to cut costs by mass producing and innovating with the goal of making these technologies more accessible and inexpensive for a larger variety of farms.

Segmentation Analysis

The market scope is segmented because of by Hardware Type, by Farm Type, by Farm Production Planning Stage, by Application.

By Hardware Type

Different hardware categories such as Smart Greenhouse Hardware, Precision Forestry Hardware, Precision Livestock Hardware, Precision Farming Hardware and others are available in the agricultural technology sector. The market leader among these has been the Precision Farming Hardware category. Its extensive range of uses modern machinery and large expenditures in precision agriculture are the reasons behind its dominance.

A variety of instruments and equipment are included in precision farming hardware which is intended to increase agricultural yield through automated procedures and data driven insights. Crop monitoring systems, soil sensors, variable rate applicators and GPS guided tractors are examples of the equipment included in this category. With the use of these technologies, farmers can more precisely administer resources like pesticides, fertilizer and water increasing agricultural yields while lowering waste and lessening their impact on the environment.

By Farm Type

Based on the Farm Type of the market is segmented into Large, Mid-Sized, Small Farms.

In part to their size and materials large farms typically have a dominant position in the agricultural market. These huge farms benefit from economies of scale in which allow them to use modern technologies and efficient procedures more successfully than smaller farms because of their large land holdings and substantial capital. They are more likely to spend money on automated systems precision agricultural tools and the newest equipment all of which increase output while lowering expenses. They have an additional benefit because they can spread the expensive cost of modern equipment over a huge volume of production.

Compared to mid-sized or small farms and large farms typically have stronger financial resources and may obtain finance or loans more easily. Their ability to afford new technologies such as drones and Internet of Things devices increases yields and improves efficiency. They have access to markets and solid supply networks which helps them employ innovative farming methods for increased productivity and profitability.

Regional Snapshots

The study provides light on the agricultural markets in the Middle East and Africa (MEA), Latin America, Asia-Pacific, North America and Europe. Because of its modern agricultural infrastructure extensive use of contemporary technology and large investments in agricultural research North America often commands the largest share of the market among them. Particularly the United States and Canada have developed farming techniques, substantial financial resources and an attachment to technological advancement. These elements support North America continued leadership in the adoption of automation, IoT and precision agriculture technologies. Extensive research and development programs supported by government initiatives and private sector investments reinforce the region leadership.

Large commercial farms in North America which attain high production and efficiency through the use of advanced machinery and technology, further contribute to the continents dominance. North America leads the world in agricultural technology, partly due to the presence of important corporations in this field and to an atmosphere that encourages commercial innovation.

List of Companies Profiled

• IBM Corporation
• Cisco Systems, Inc.
• SAP SE
• Trimble Inc.
• Deere & Company
• Agco Corporation
• Hexagon AB
• Telit Communications PLC
• Decisive Farming Corp.
• Raven Industries, Inc.
• Ag Leader Technology
• Climate Corporation

Key Industry Developments

In May 2023, Henkel announced the opening of Loctite Powerbond Instant glue, a new construction glue. This glue is intended to give a robust, immediate binding to a range of substrates, such as plastic, metal, and wood.

In April 2023, 3M announced the expansion of their construction adhesive portfolio with the launch of 3M Scotch-WeldTM Structural Adhesive DP450. Among other structural applications, this adhesive is used to join steel beams and columns.

Report Coverage

The report will cover the qualitative and quantitative data on the global Agricultural IoT Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Regional Analysis

North America accounted for the highest Agricultural IoT% market share in terms of revenue in the Agricultural IoT market and is expected to expand at a CAGR of Agricultural IoT% during the forecast period. This growth can be attributed to the growing adoption of Agricultural IoT. The market in APAC is expected to witness significant growth and is expected to register a CAGR of Agricultural IoT% over upcoming years, because of the presence of key Agricultural IoT companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Agricultural IoT Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Agricultural IoT Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Agricultural IoT Market valued?
• Which region has the largest share in 2024 for the global Agricultural IoT Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of the Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Agricultural IoT Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: