Internet Of Things Iot In Agriculture Market
Internet of Things (IoT) in Agriculture Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software and Services), Deployment Type (Cloud-Based and On-Premises), Farm Size, Connectivity Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Internet of Things (IoT) in Agriculture Market is accounted for $30.24 billion in 2024 and is expected to reach $82.73 billion by 2030 growing at a CAGR of 12.8% during the forecast period. The Internet of Things (IoT) in agriculture enhances efficiency and productivity by integrating smart devices and sensors into farming practices. IoT solutions enable real-time monitoring of crops, livestock, and equipment, providing valuable data on soil conditions, weather, and plant health. This data-driven approach helps optimize irrigation, fertilization, and pest control, leading to improved yields and resource management.
According to a recent study, food and agribusiness have a massive social, economic, & environmental footprint and represent 10% of the global consumer expenditure.
Market Dynamics:
Driver:
Growing global population
IoT technology facilitates precision farming by offering real-time data on soil conditions, crop health, and climate patterns. This data enables farmers to optimize resource use, enhance yields, and reduce waste. As the population rises, the need for efficient, scalable, and sustainable agricultural practices becomes more urgent. IoT solutions provide these capabilities, leading to greater adoption and growth in the IoT in agriculture market. Additionally, smart farming technologies address labor shortages and improve operational efficiency, further accelerating market expansion.
Restraint:
Lack of technical expertise
Farmers and agricultural workers often lack the necessary skills to operate and maintain IoT systems, leading to underutilization of available tools. This gap results in lower productivity and efficiency gains, discouraging investment in IoT solutions. Additionally, insufficient knowledge restricts the innovation needed to adapt IoT technologies to specific agricultural challenges, further stunting market development.
Opportunity:
Supportive policies and funding for smart farming technologies
Governments and organizations that invest in research, offer subsidies, and implement favourable regulations lower barriers to entry and reduce costs for farmers. This financial backing and policy support encourage the development of advanced IoT solutions, such as sensors and data analytics, which enhance agricultural efficiency and productivity. Consequently, increased access to and investment in IoT technologies drive market expansion, foster innovation, and lead to widespread adoption of smart farming practices.
Threat:
High initial investment
High initial investment in IoT for agriculture involves significant costs for technology, infrastructure, and implementation, which can deter adoption among small to medium-sized farms. The steep upfront expenses create financial barriers and limit accessibility, hampering market growth by restricting the widespread adoption of IoT solutions. As a result, the slow uptake of technology and the reluctance of potential users to invest in costly systems can impede the overall expansion of the IoT agriculture market.
Covid-19 Impact
Covid-19 accelerated the adoption of IoT in agriculture by highlighting the need for remote monitoring and automation due to labor shortages and social distancing requirements. The pandemic underscored the importance of technology in maintaining food supply chains and operational efficiency. However, it also disrupted supply chains and delayed technology deployments. Overall, while covid-19 drove increased interest and investment in IoT solutions, it also posed challenges related to implementation and logistics.
The large farm segment is expected to be the largest during the forecast period
The large farm segment is estimated to be the largest during the forecast period. In large farm applications, IoT technology enhances efficiency through advanced monitoring and automation. IoT devices, including sensors, drones, and automated machinery, provide real-time data on soil health, crop conditions, and equipment performance. This enables precise irrigation, fertilization, and pest management, optimizing resource use and boosting yields. By integrating IoT systems, large farms can streamline operations, reduce labor costs, and improve overall productivity, leading to more sustainable and profitable agricultural practices.
The smart greenhouses segment is expected to have the highest CAGR during the forecast period
The smart greenhouses segment is anticipated to witness the highest CAGR during the forecast period. In smart greenhouses, IoT applications revolutionize climate control and resource management. IoT sensors monitor environmental variables such as temperature, humidity, and light levels, enabling precise adjustments to optimize plant growth. Automated systems manage irrigation, nutrient delivery, and ventilation based on real-time data, reducing water and resource waste. By integrating these technologies, smart greenhouses achieve enhanced crop yields, improved energy efficiency, and reduced labor requirements, leading to more sustainable and productive agricultural practices.
Region with largest share:
The Internet of Things (IoT) market in agriculture across the Asia-Pacific region is estimated to have largest share due to increasing investments in smart farming technologies and a growing focus on improving agricultural productivity. Countries like China, India, and Japan are leading the adoption of IoT solutions, leveraging sensors, drones, and data analytics to enhance crop management and livestock monitoring. Government initiatives and rising demand for food security drive innovation, making the region a significant hub for IoT advancements in agriculture.
Region with highest CAGR:
In North America, the IoT market in agriculture is thriving to have highest CAGR due to advanced technological infrastructure and a strong emphasis on precision farming. The U.S. and Canada lead in integrating IoT solutions such as sensors, drones, and automation technologies to optimize crop yields and resource management. Robust investment in research and development, along with government support for agricultural innovation, drives the growth of IoT applications. This focus on efficiency, sustainability, and data-driven decision-making positions North America as a key player in the global IoT agriculture market.
Key players in the market
Some of the key players profiled in the Internet of Things (IoT) in Agriculture Market include John Deere, AGCO Corporation, Trimble Inc., Raven Industries, AG Leader Technology, Bayer CropScience, BASF SE, IBM Corporation, Cisco Systems, Accenture, Farmers Edge Inc., Hexagon Agriculture, Taranis, Telit Communications, PrecisionHawk, Sentera, CNH Industrial N.V. and Topcon Positioning Systems.
Key Developments:
In August 2024, AGCO Corporation launched new products and farmer-focused solutions at the 2024 Farm Progress Show in Boone, Iowa. The products are the 600 Vario® Series Tractor, ErgoSteer™, Fendt Lodge™, 9S Series Tractor, Mobile Service Truck and Smart Grain Management tools. These new offerings demonstrate AGCO's ongoing efforts to address the evolving needs of the agricultural industry by integrating cutting-edge technology with practical, farmer-centric solutions.
In August 2023, John Deere introduced its innovative ExactShot technology, a significant advancement in precision agriculture. This technology is designed to optimize the planting and fertilization process by targeting the application of fertilizer directly to the area where each seed is planted. Unlike traditional methods that distribute fertilizer uniformly across the entire field, ExactShot only applies fertilizer to the specific spot where the seed is placed. This precise application reduces the amount of fertilizer used by up to 60%.
Components Covered:
• Hardware
• Software
• Services
Deployment Types Covered:
• Cloud-Based
• On-Premises
Farm Sizes Covered:
• Small Farms
• Medium Farms
• Large Farms
Connectivity Technologies Covered:
• Cellular Networks
• LPWAN (Low Power Wide Area Network)
• Satellite Networks
• Wi-Fi
• Bluetooth
• Other Connectivity Technologies
Applications Covered:
• Precision Farming
• Livestock Monitoring
• Smart Greenhouses
• Fish Farming
• Agricultural Drones
• Labour Management
• Other Applications
End Users Covered:
• Agribusiness Companies
• Agricultural Research Institutes
• Government Bodies
• Farmers & Growers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Internet of Things (IoT) in Agriculture Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Sensors
5.2.2 Global Positioning System (GPS) Devices
5.2.3 Radio-Frequency Identification (RFID) Tags
5.2.4 Drones & Unmanned Aerial Vehicles
5.2.5 Cameras
5.3 Software
5.3.1 Data Management Software
5.3.2 Farm Management Software
5.3.3 Predictive Analytics Software
5.4 Services
5.4.1 Professional Services
5.4.2 Managed Services
5.4.3 Integration & Deployment Services
5.4.4 Maintenance & Support Services
6 Global Internet of Things (IoT) in Agriculture Market, By Deployment Type
6.1 Introduction
6.2 Cloud-Based
6.3 On-Premises
7 Global Internet of Things (IoT) in Agriculture Market, By Farm Size
7.1 Introduction
7.2 Small Farms
7.3 Medium Farms
7.4 Large Farms
8 Global Internet of Things (IoT) in Agriculture Market, By Connectivity Technology
8.1 Introduction
8.2 Cellular Networks
8.3 LPWAN (Low Power Wide Area Network)
8.4 Satellite Networks
8.5 Wi-Fi
8.6 Bluetooth
8.7 Other Connectivity Technologies
9 Global Internet of Things (IoT) in Agriculture Market, By Application
9.1 Introduction
9.2 Precision Farming
9.3 Livestock Monitoring
9.4 Smart Greenhouses
9.5 Fish Farming
9.6 Agricultural Drones
9.7 Labour Management
9.8 Other Applications
10 Global Internet of Things (IoT) in Agriculture Market, By End User
10.1 Introduction
10.2 Agribusiness Companies
10.3 Agricultural Research Institutes
10.4 Government Bodies
10.5 Farmers & Growers
10.6 Other End Users
11 Global Internet of Things (IoT) in Agriculture Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 John Deere
13.2 AGCO Corporation
13.3 Trimble Inc.
13.4 Raven Industries
13.5 AG Leader Technology
13.6 Bayer CropScience
13.7 BASF SE
13.8 IBM Corporation
13.9 Cisco Systems
13.10 Accenture
13.11 Farmers Edge Inc.
13.12 Hexagon Agriculture
13.13 Taranis
13.14 Telit Communications
13.15 PrecisionHawk
13.16 Sentera
13.17 CNH Industrial N.V.
13.18 Topcon Positioning Systems
List of Tables
1 Global Internet of Things (IoT) in Agriculture Market Outlook, By Region (2022-2030) ($MN)
2 Global Internet of Things (IoT) in Agriculture Market Outlook, By Component (2022-2030) ($MN)
3 Global Internet of Things (IoT) in Agriculture Market Outlook, By Hardware (2022-2030) ($MN)
4 Global Internet of Things (IoT) in Agriculture Market Outlook, By Sensors (2022-2030) ($MN)
5 Global Internet of Things (IoT) in Agriculture Market Outlook, By Global Positioning System (GPS) Devices (2022-2030) ($MN)
6 Global Internet of Things (IoT) in Agriculture Market Outlook, By Radio-Frequency Identification (RFID) Tags (2022-2030) ($MN)
7 Global Internet of Things (IoT) in Agriculture Market Outlook, By Drones & Unmanned Aerial Vehicles (2022-2030) ($MN)
8 Global Internet of Things (IoT) in Agriculture Market Outlook, By Cameras (2022-2030) ($MN)
9 Global Internet of Things (IoT) in Agriculture Market Outlook, By Software (2022-2030) ($MN)
10 Global Internet of Things (IoT) in Agriculture Market Outlook, By Data Management Software (2022-2030) ($MN)
11 Global Internet of Things (IoT) in Agriculture Market Outlook, By Farm Management Software (2022-2030) ($MN)
12 Global Internet of Things (IoT) in Agriculture Market Outlook, By Predictive Analytics Software (2022-2030) ($MN)
13 Global Internet of Things (IoT) in Agriculture Market Outlook, By Services (2022-2030) ($MN)
14 Global Internet of Things (IoT) in Agriculture Market Outlook, By Professional Services (2022-2030) ($MN)
15 Global Internet of Things (IoT) in Agriculture Market Outlook, By Managed Services (2022-2030) ($MN)
16 Global Internet of Things (IoT) in Agriculture Market Outlook, By Integration & Deployment Services (2022-2030) ($MN)
17 Global Internet of Things (IoT) in Agriculture Market Outlook, By Maintenance & Support Services (2022-2030) ($MN)
18 Global Internet of Things (IoT) in Agriculture Market Outlook, By Deployment Type (2022-2030) ($MN)
19 Global Internet of Things (IoT) in Agriculture Market Outlook, By Cloud-Based (2022-2030) ($MN)
20 Global Internet of Things (IoT) in Agriculture Market Outlook, By On-Premises (2022-2030) ($MN)
21 Global Internet of Things (IoT) in Agriculture Market Outlook, By Farm Size (2022-2030) ($MN)
22 Global Internet of Things (IoT) in Agriculture Market Outlook, By Small Farms (2022-2030) ($MN)
23 Global Internet of Things (IoT) in Agriculture Market Outlook, By Medium Farms (2022-2030) ($MN)
24 Global Internet of Things (IoT) in Agriculture Market Outlook, By Large Farms (2022-2030) ($MN)
25 Global Internet of Things (IoT) in Agriculture Market Outlook, By Connectivity Technology (2022-2030) ($MN)
26 Global Internet of Things (IoT) in Agriculture Market Outlook, By Cellular Networks (2022-2030) ($MN)
27 Global Internet of Things (IoT) in Agriculture Market Outlook, By LPWAN (Low Power Wide Area Network) (2022-2030) ($MN)
28 Global Internet of Things (IoT) in Agriculture Market Outlook, By Satellite Networks (2022-2030) ($MN)
29 Global Internet of Things (IoT) in Agriculture Market Outlook, By Wi-Fi (2022-2030) ($MN)
30 Global Internet of Things (IoT) in Agriculture Market Outlook, By Bluetooth (2022-2030) ($MN)
31 Global Internet of Things (IoT) in Agriculture Market Outlook, By Other Connectivity Technologies (2022-2030) ($MN)
32 Global Internet of Things (IoT) in Agriculture Market Outlook, By Application (2022-2030) ($MN)
33 Global Internet of Things (IoT) in Agriculture Market Outlook, By Precision Farming (2022-2030) ($MN)
34 Global Internet of Things (IoT) in Agriculture Market Outlook, By Livestock Monitoring (2022-2030) ($MN)
35 Global Internet of Things (IoT) in Agriculture Market Outlook, By Smart Greenhouses (2022-2030) ($MN)
36 Global Internet of Things (IoT) in Agriculture Market Outlook, By Fish Farming (2022-2030) ($MN)
37 Global Internet of Things (IoT) in Agriculture Market Outlook, By Agricultural Drones (2022-2030) ($MN)
38 Global Internet of Things (IoT) in Agriculture Market Outlook, By Labour Management (2022-2030) ($MN)
39 Global Internet of Things (IoT) in Agriculture Market Outlook, By Other Applications (2022-2030) ($MN)
40 Global Internet of Things (IoT) in Agriculture Market Outlook, By End User (2022-2030) ($MN)
41 Global Internet of Things (IoT) in Agriculture Market Outlook, By Agribusiness Companies (2022-2030) ($MN)
42 Global Internet of Things (IoT) in Agriculture Market Outlook, By Agricultural Research Institutes (2022-2030) ($MN)
43 Global Internet of Things (IoT) in Agriculture Market Outlook, By Government Bodies (2022-2030) ($MN)
44 Global Internet of Things (IoT) in Agriculture Market Outlook, By Farmers & Growers (2022-2030) ($MN)
45 Global Internet of Things (IoT) in Agriculture Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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