The Internet of Things (IoT) in agriculture market is segmented on the basis of system, application, farm and region.
— Allied Market Research
PORTLAND, OR, US, December 8, 2023 /EINPresswire.com/ — IoT (Internet of Things) in agriculture refers to the use of connected devices and sensors to collect data on various aspects of agricultural operations. The data collected by these devices can be analyzed to provide insights and make data-driven decisions to optimize operations, increase efficiency, and improve crop yield and quality. The IOT in agriculture market Size was valued at $27.1 billion in 2021, and is estimated to reach $84.5 billion by 2031, growing at a CAGR of 12.6% from 2022 to 2031.
𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐅𝐨𝐫 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/5094
The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
The collected data is transmitted to cloud-based platforms where it can be analyzed using artificial intelligence (AI) and machine learning algorithms to identify patterns and provide insights. Farmers can use these insights to make informed decisions about when to water or fertilize crops, which fields to plant specific crops, and when to harvest them.
IoT in agriculture also includes the use of drones, robots, and autonomous vehicles to perform tasks such as planting, monitoring crops, and harvesting. These devices can be equipped with sensors and cameras to collect data on crop growth and health, soil conditions, and other factors that impact crop yield and quality. Overall, IoT in agriculture can help farmers increase productivity, reduce costs, and improve the sustainability of their operations by optimizing resource use and minimizing waste.
Leading Key Players
Some of the major players analyzed in the global Internet of Things (IoT) in agriculture report include Cisco Systems, Inc., International Business Management Corporation (IBM), Telit, Hitachi, Ltd, Decisive Farming, Trimble Inc., OnFarm Systems Inc., Farmers Edge Inc., SlantRange, Inc., and The Climate Corporation.
𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/37f2ce7a1dbefe499d6295c85e8bf654
The cost of IoT devices, sensors, and other related technologies can be high, especially for small-scale farmers or those in developing countries. This can limit their ability to adopt and implement these technologies. Also, Many farms are located in remote or rural areas with limited internet connectivity. This can make it difficult to transmit data from IoT devices to cloud-based platforms for IOT in agriculture market Analysis and decision-making. In addition, the collection and transmission of data from IoT devices raise concerns about data security and privacy. Farmers may be hesitant to share sensitive data with third-party providers for fear of data breaches or misuse. Thus, all the aforementioned factors hampers the market growth.
The report offers a detailed segmentation of the global IOT in agriculture market based on system, farm type, application and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
The rise in global population coupled with increase in adoption of developed technology to optimize quantity and quality of farm production are expected to boost the adoption of IoT in agriculture market during the forecast period. In addition, EU-funded IoT Large-Scale Pilots Program (LSP) has formed an association of 73 partners, including CEMA. The program is intended to increase IoT application in the European agriculture and food sector with an investment of $31.6 million, which is expected to boost the growth of IoT in agriculture market.
𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/5094
Moreover, there is a considerable increase in population, which boosts the food demand. This is one of the prime drivers of the IoT in agriculture market growth. Data for the development of IoT application in the agriculture industry is provided by various agriculture-related industries such as agriculture equipment, seeds, and chemical manufacturers. Filling the gap between demand and supply across the globe requires more resources such as technically advanced equipment, skilled personnel, and capital for majority of companies. Investors have a major role to play in meeting these challenges and IOT in agriculture market Opportunities to benefit.
Based on the farm type, the large segment contributed to more than half of the global IOT in agriculture market revenue and is projected to rule the roost by 2031. On the other hand, the mid size segment would portray the fastest CAGR of 14.0% throughout the forecast period. The small farms segment is also studied in the report.
Based on region, Asia-Pacific held the major share in 2021, garnering nearly two-fifths of the global IOT in agriculture market revenue and is projected to rule the roost in terms of revenue during the forecast period. The same region would cite the fastest CAGR of 13.7% throughout the forecast period. The other provinces studied through the report include North America, Europe, and LAMEA.
𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/5094
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
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