IoT revolutionizing agriculture by enabling precise monitoring and management of crops, effectively optimizing resource efficiency and significantly boosting yields. Through real-time data collection and analysis, farmers gain invaluable insights into soil conditions, moisture levels, and crop health. This granular understanding allows for targeted interventions such as precise irrigation, tailored fertilization, and timely pest management. By minimizing resource wastage and maximizing output. This technological integration not only streamlines operations but also empowers farmers to make data-driven.
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Data Bridge Market Research analyses that the Global Internet of Things (IoT) in Agriculture Market is expected to reach a value of USD 22.45 billion by 2031 from USD 6.95 billion in 2023, at a CAGR of 16.1% during the forecast period of 2024 to 2031.
Key Findings of the Study
Automates Irrigation, Fertilization and Pest Control Effectively Cutting Down on Labor Cost
Automating irrigation, fertilization, and pest control through IoT technology represents a transformative shift in agriculture, significantly reducing labor costs while enhancing efficiency. By utilizing sensors and data analytics, IoT enables precise and timely application of resources based on real-time conditions. Automated systems adjust irrigation schedules according to soil moisture levels, deliver fertilizers in optimal amounts, and deploy pest control measures when necessary, all without constant human intervention.
The automation of irrigation, fertilization, and pest control through IoT technology significantly reduces labor costs while boosting operational efficiency. By leveraging real-time data and smart systems, farmers can optimize resource application with minimal human intervention, ensuring precise and timely care for crops. This technological advancement allows labor resources to be redirected to more strategic tasks, enhancing overall farm productivity and profitability.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Offering (Hardware and Services), Agriculture Type (Precision Farming, Precision Forestry, Dairy & Livestock Monitoring, Smart Greenhouse, Fish Farm Monitoring, and Others), Connectivity (Wi-Fi, Bluetooth, RF Technology, Zigbee, and Others), Farm Size (Large Farms, Small Farms, and Medium-Sized Farms), Distribution (Dealers and D2C)
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Countries Covered
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U.S., Canada, Mexico Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Sweden, Denmark, Poland, Norway, Finland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Indonesia, Philippines, Honk Kong, Taiwan, Cambodia, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, Oman, Kuwait, Bahrain, Rest of Middle East and Africa, Brazil, Argentina and rest of South America
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Market Players Covered
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Sencrop (France), Pycno Industries, Inc. (Spain), HARDWARIO a.s. (Czech Republic), GEA Group Aktiengesellschaft (Germany), Ag Leader Technology (U.S.), TeeJet Technologies (U.S.), DICKEY-john (U.S.), Delair (France), AKVA group (Norway), TOPCON CORPORATION (Japan), ScaleAQ (Norway), Innovasea Systems Inc. (U.S.), Afimilk Ltd. (Israel), AgEagle Aerial Systems Inc (U.S.), Hexagon AB (Sweden), Eruvaka Technologies Pvt. Ltd (India), Hylio (U.S.), TEKTELIC Communications Inc. (Canada), CropX inc. (Israel), and Digital Matter (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The global Internet of Things (IoT) in agriculture market is segmented into five notable segments, which are based on the basis offering, agriculture type, connectivity, farm size, and distribution.
- On the basis of offering, the global Internet of Things (IoT) in agriculture market is segmented into hardware and services
In 2024, hardware segment is expected to dominate the Global Internet of Things (IoT) in Agriculture Market
In 2024, hardware segment is expected to dominate the market with 71.70% market share due to the critical need for physical devices such as sensors, drones, and automated machinery to collect real-time data and implement precision farming techniques.
- On the basis of agriculture type, the global Internet of Things (IoT) in agriculture market is segmented into precision farming, precision forestry, dairy & livestock monitoring, smart greenhouse, fish farm monitoring, and others
In 2024, precision farming segment is expected to dominate the Global Internet of Things (IoT) in Agriculture Market
In 2024, precision farming segment is expected to dominate the market with 36.92% market share due to its widespread applicability and significant impact on crop yield optimization.
- On the basis of connectivity, the global Internet of Things (IoT) in agriculture market is segmented into Wi-Fi, bluetooth, RF technology, zigbee, and others. In 2024, Wi-Fi is expected to dominate the market with 37.88% market share
- On the basis of farm size, the global Internet of Things (IOT) in agriculture market is segmented into large farm, small farm, and mid-size farm. In 2024, large farm is expected to dominate the market with 43.78% market share
- On the basis of distribution, the global Internet of Things (IOT) in agriculture market is segmented into dealers and D2C. In 2024, dealers is expected to dominate the market with 68.81% market share
Major Players
Data Bridge Market Research analyzes TOPCON CORPORATION (Japan), AgEagle Aerial Systems Inc (U.S), Hexagon AB (Sweden), Hylio (U.S), AKVA Group (Norway) as the major companies operating in the global Internet of Things (IoT) in agriculture market.
Market Development
- In March 2024, Topcon and Tabula Positioning Systems, Inc. collaborated to integrate their solutions for ground-based fertilizer and spray application, enhancing precision and efficiency for farmers. This partnership benefited for them with accurate equipment and auto-steering capabilities, tailored for agricultural operations in New Zealand and Australia
- In June 2023, AgEagle Aerial Systems Inc., launched the eBee VISION drone on September 6, 2023, initiating commercial production and accepting global orders. Featuring advanced ISR capabilities, the drone's release expands AgEagle's market presence and enhances its reputation in autonomous robotics
- In March 2024, Hylio, pioneering Federal Aviation Administration (FAA) approval for drone swarms elevated agricultural efficiency, allowing operation of multiple drones without visual observers. This breakthrough expanded productivity potential, addressed labor shortages, and positioned Hylio at the forefront of drone technology advancements in agriculture
- In June 2024, AKVA group, expanded into new markets beyond aquaculture, including defence and autonomous technologies. With a focus on customer satisfaction and sustainability, they strengthened brand presence globally, introducing climate-neutral boat production and securing diverse international orders
- In June 2024, DELAIR, appointed as drone industry representative at SESAR 3 JU. DELAIR achieves "Origine France Garantie" certification for its drones, enhancing market credibility. ISO 9001 certification and acquisition of NOTILO PLUS expand DELAIR's capabilities in drone technology and maritime solutions
Regional Analysis
Geographically, the countries covered in the global Internet of Things (IoT) in agriculture market report are U U.S., Canada, Mexico Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Sweden, Denmark, Poland, Norway, Finland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Indonesia, Philippines, Honk Kong, Taiwan, Cambodia, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, Oman, Kuwait, Bahrain, Rest of Middle East and Africa, Brazil, Argentina and rest of South America.
As per Data Bridge Market Research analysis:
North America is expected to dominate and be the fastest growing region in the Global Internet of Things (IoT) in Agriculture Market
North America is expected to dominate the Internet of Things (IoT) in agriculture market due to its advanced technological infrastructure, significant investment in agricultural technology, and widespread adoption of precision farming practices.
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