IoT in Agriculture Industry Supply Chain Anaysis, Growth Opportunities, Top Companies, Revenue Growth and Business Development Report by 2027
The global IoT in Agriculture Market will be worth USD 27.22 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing population worldwide coupled with the increasing demand for food in developing countries. The farmers are trying to enhance agricultural productivity in order to meet the growing demand for food by incorporating IoT based technologies in agricultural practices. Increasing adoption of the crop management devices to monitor crop growth and protect the field from any infestations is expected to drive the growth of the market over the forecast period.
Increasing adoption of IoT based technologies in greenhouses has made them technologically advanced as they eliminated human-intervention and made the processes more cost-effective. The IoT sensors powered by solar energy help minimize water consumption and monitor the greenhouse state precisely in real-time.
The researchers have considered all the factors influencing the growth of the IoT in Agriculture market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the IoT in Agriculture market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the IoT in Agriculture market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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Key Highlights From The Report
• In October 2019, Raven Industries announced to acquire majority ownership of the DOT autonomous platform. The acquisition will accelerate the development of precision agricultural technology from semi to fully autonomous solutions.
• Hardware held the largest market share of 48.3% in the year 2019 as it enhances crop productivity and quality.
• Livestock monitoring is forecasted to grow with the fas**** CAGR of 11.3% over the forecast period. It helps the farmers lower labor costs and prevents the spread of diseases among the cattle.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the industry are:
Agco Corporation, Deere and Company, GEA Group, Trimble Inc., Agjunction, Raven Industries, Antelliq, Delaval, Ponsse, and CropMetrics LLC, among others.
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Emergen Research has segmented the global IoT in Agriculture Market on the basis of Offering, Application, and region:
• Offering Outlook (Revenue, USD Billion; 2017-2027)
o Software
o Hardware
o Services
• Application Outlook (Revenue, USD Billion; 2017-2027)
o Livestock Monitoring
o Smart Greenhouse
o Precision Forestry
o Fish Farm Monitoring
o Precision Farming
o Others
The Global IoT in Agriculture Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the IoT in Agriculture market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The all-inclusive report on the Global IoT in Agriculture Market added by Emergen Research demonstrates that the global IoT in Agriculture market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the IoT in Agriculture market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the IoT in Agriculture Market Report:
• The report encompasses IoT in Agriculture market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
• An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
• Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
• Supply chain analysis along with technological advancements offered in the report
• The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the IoT in Agriculture industry
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