New York, USA, August 10, 2021 (GLOBE NEWSWIRE) – Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global IoT in the Agricultural Market information by Components, by Application and Region – forecast by 2027The size of the market will exceed $ 36 billion by 2026 with a CAGR of 13%.
IoT in the field of agricultural market:
Increased demand for agricultural production due to population growth, increased adoption of Internet of Things (IoT) technology and Artificial Intelligence (AI) by farmers and growers, and an emphasis on livestock monitoring and disease detection for adults Agricultural efficiency are some of the key factors driving the growth of this market.
The main players in the IoT in the covered agriculture market are:
- Precisionhawk Inc. (USA)
- Deere & Company (USA)
- Dickey John (USA)
- Grownetics (USA)
- Shivrai Technologies Pvt. Ltd (India)
- CropIn (USA)
- Rapidsoft Technologies Pvt. Ltd (USA)
- Scicrop (Brazil)
- Trimble Inc. (USA)
- Raven Industries (USA)
- IBM Corporation (USA)
- Topcon Corporation (Japan)
- Proagrica (USA)
- AG Leader Technology (USA) Hexagonal Agriculture (Sweden)
- Descartes Laboratory (USA)
- DuPont Pioneer (USA)
- Tigercat (USA)
- Tric Metrics (Ireland)
- Crucial Agriculture (Canada)
- Cainthus (Ireland)
- Sky (Canada)
- Autonomous Tractor Corporation (USA)
- Nileworks Inc. (Japan)
- Gamaya (Switzerland)
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IoT in Agricultural Market Leaders
The World Economic Forum released a study highlighting IoT-based agriculture to maximize water and pesticide use. Intelligent robots, blockchain and the Internet of Things are projected to be used in the future to produce synthetic foods for personalized food. Precise farming technologies that use machine vision, big data analytics and advanced robotics will allow farmers to apply the optimal number of inputs to each crop and help with livestock and aquaculture management, increasing yields by reduce water use and greenhouse gas emissions. Precision farming and IoT-based agriculture are projected to support 80-150 million farmers by 2030. Plant production is projected to increase by 100-300 million tonnes, with 5-20 million megatons less of CO2 equivalent. issued. Moreover, water use is expected to decline by 50-180 billion cubic meters. The widespread application of advanced agricultural technology has resulted in the 4th Industrial Revolution, which is expected to significantly increase crop yields by reducing production costs. Other factors driving the growth of global IoT in the agricultural market include the need for efficient agriculture and increasing government involvement in the promotion of agricultural technologies.
Browse the in-depth market research report (111 pages) on IoT in the agricultural industry:
Market segmentation covered in research:
The global IoT in the agricultural market is segmented based on components and applications.
According to the component, the global IoT in the agricultural industry is divided into software, system and services. Sensing and monitoring systems, fish farming systems, animal monitoring systems, smart greenhouse systems, automation and control systems, and others are all part of the system segment. Ground sensors, performance monitors, water sensors, climate sensors and other sensing and monitoring systems are listed. GPS / GNSS, sensors and other components are used in fish farming systems. RFID tags and readers, sensors, GPS, control systems and other components include livestock monitoring systems. Flow and application control equipment, irrigation controls, drones / UAVs, GPS / GNSS systems, directions and directions, handheld mobile devices / handhelds, screens and others are also included in the segment of automation and control systems.
Based on the application, the global IoT in the agricultural market is divided into livestock monitoring, integrated pest management, accurate crop farming, inland agriculture, aquaculture, water supply management and more.
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The geo-analysis of the global IoT in the agricultural market has been conducted for North America, Europe, Asia Pacific, the Middle East & Africa and South America.
North America has the largest share of the smart agriculture market as vendors in this area invest heavily in R&D, which has resulted in technological advances in sensing and monitoring systems, automation and control systems, and the use of IoT sensors for livestock monitoring, accurate farming, inland farming and other purposes. Due to high digitalization in the agricultural sector, the United States leads the market in North America and it is estimated that nearly 80% of farmers use smart farming technology. Extreme weather conditions caused by climate change, as well as the loss of arable land, have resulted in the widespread adoption of the IoT to increase the quantity and quality of crop yields.
Impact of COVID-19 on Global IoT in the Agricultural Market
The continued proliferation of COVID-19 has undoubtedly had an effect on the industrial sector, as most manufacturing activities have been temporarily halted, resulting in a significant slowdown in production. Prior to the explosion, several companies adopted various advanced technologies as a result of Industry 4.0. However, due to the sudden onset of the COVID-19 pandemic, the same industries have halted ongoing development and projects. Moreover, the immediate financial effect, especially for farmers, has resulted in a significant reduction in non-substantial spending and investment. Many of the new technologies in Industry 4.0 fall into the category of non-core business activities.
Farmers and large farm owners are currently focusing on their core operations, which have sidelined the process of mechanization or digitalization of agriculture. However, the scenario is likely to improve in the coming years. Farmers would be encouraged to pursue agricultural IoT as production pressures increase, resources become scarce and a professional and trained workforce becomes scarce. Moreover, government subsidies, falling IoT equipment costs, and sustained advances in sophistication of IoT technology are expected to encourage more farmers to implement agricultural IoT during the COVID-19 recovery phase.
The growing application of IoT in agriculture has increased market competition among retailers. Leading players have chosen alliances and the production of new products as their main organic growth strategies in order to strengthen their market positions and meet the needs of farmers and ranchers.
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