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Agriculture IoT Market Size, Share Global Analysis Report, 2021 – 2026
Agriculture IoT Market By Farm Size (Large, Mid-Sized, & Small Farms), By Planning Stage (Pre-Production Planning, Production Planning, & Post-Production Planning), By Application (Precision Farming, Precision Livestock, Precision Aquaculture, Precision Forestry, Precision Greenhouses, & Others), And By Regions ¬ Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026
Industry Insights
[219+ pages Report] The latest findings and offers on the agriculture IoT market released by Facts & Factors provides comprehensive market analysis. We at Facts & Factors estimated the global agriculture IoT market to be valued at around USD 11.9 Billion in the year 2020 and will grow at an estimated CAGR rate of 8.8% to an overall value of USD 18.7 Billion in the year 2026.
Market Overview
IoT is often described as the interconnectivity measures that are often employed in order to connect a wider range of similarly functioning devices by means of the internet in order to increase productivity and efficiency-based measures. IoT-based agricultural products have the added capability to integrate farming equipment for a variety of functions that include increasing operational efficiency, maximize yields, and minimize wastage of energy. Furthermore, they provide real-time data analytics for yield and wastage of crops based on current deployment means and offer advancements of control platforms.
Industry Growth Factors
The global agriculture IoT market is expected to be occupied by a variety of contributing factors that attribute to the integration of IoT-based solutions and AI tools by farmers and growers coupled with an increased focus on livestock monitoring and early disease detection to name a few. Additionally, the rising focus of increased production for fresh produce and increasing population is expected to increase the growth of the global agriculture IoT market to a higher boundary during the forecast period. Moreover, the surging adoption of aquaculture monitoring and feed optimization devices by cultivators in developing countries and the increased rate of losing cultivatable land is expected to increase the footprint of the global agriculture IoT market during the forecast period.
The global agriculture IoT market is expected to be driven by factors such as the integration of advanced technologies such as guidance systems and variable rate technology, and remote sensing coupled with increased flow of data within the sector to name a few. Additionally, factors associated with increased profit margins with carefully implemented agricultural IoT farming systems coupled with rising demands for minimizing cultivating resources are expected to fuel the growth of the global agriculture IoT market during the forecast period. However, increased cost of implementation, low consumer awareness, and lack of a skilled workforce are expected to decrease the market share for the global agriculture IoT market during the forecast period.
Segmentation Analysis
The global agriculture IoT market is segmented into farm size, planning stage, application, and regions.
On the basis of farm size, the global agriculture IoT market is divided into large, mid-sized, and small farms. The segment pertaining to small farms is expected to witness the fastest growing CAGR during the advent of the forecast owing to a higher possibility of small farms adopting automation and other advanced technologies owing to reduced equipment costs coupled with increased investment returns to name a few. On the basis of the planning stage, the global agriculture IoT market can be broken down into pre-production planning, production planning, and post-production planning. The post-planning stage segment is expected to witness the highest CAGR growth during the advent of the forecast owing to the rising adoption of agricultural IoT equipment between small and medium-sized farms coupled with an increasing number of logistical challenges to name a few. On the basis of application, the global agriculture IoT market is fragmented into precision farming, precision livestock, precision aquaculture, precision forestry, precision greenhouses, and others. The segment pertaining to precision aquaculture is expected to witness the largest market share during the advent of the forecast owing to the rising demand for real-time monitoring of fish-based movement coupled with rising government IT support to name a few.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 11.9 Billion |
Projected Market Size in 2026 |
USD 18.7 Billion |
CAGR Growth Rate |
8.8% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Deere & Company, Trimble, Inc., Raven Industries, AKVA Group, Topcon Positioning Systems, Agjunction, Allflex, Ponsse, Komatsu Forest AB, InnovaSea Systems, TeeJet Technologies, DICKEY-john, AG Leader Technology, DJI, AgEagle, Afimilk, PrecisionHawk, Hexagon Agriculture, Farmers Edge, The Climate Corporation, and CropX, among others |
Key Segments |
Farm Size, Planning Stage, Applications, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Purchase Options |
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Regional Analysis
Asia-Pacific is expected to witness the fastest growing CAGR and the largest market share during the advent of the forecast owing to the presence of emerging economies highly dependent on agricultural prowess coupled with increasing populous regions such as India and China to name a few. Additionally, the rising availability of arable land coupled with increased support of government policies aimed at making agriculture the focal point is further expected to increase the footprint of the agriculture IoT market during the forecast period. Moreover, the integration of remote sensing technology and satellite imaging measures is expected to fuel the growth of the agriculture IoT market during the forecast period. Increased penetration of smartphones among farmers in the region coupled with rising connectivity measures are expected to increase the consumer base for the agriculture IoT market during the forecast period.
Competitive Analysis
The key market participants for the global agriculture IoT market are:
- Deere & Company
- Trimble Inc.
- Raven Industries
- AKVA Group
- Topcon Positioning Systems
- Agjunction
- Allflex
- Ponsse
- Komatsu Forest AB
- InnovaSea Systems
- TeeJet Technologies
- DICKEY-john
- AG Leader Technology
- DJI
- AgEagle
- Afimilk
- PrecisionHawk
- Hexagon Agriculture
- Farmers Edge
- The Climate Corporation
- CropX
By Farm Size Segment Analysis
- Large
- Mid-Sized
- Small Farms
By Planning Stage Segment Analysis
- Pre-Production Planning
- Production Planning
- Post-Production Planning
By Application Segment Analysis
- Precision Farming
- Precision Livestock
- Precision Aquaculture
- Precision Forestry
- Precision Greenhouses
- Others
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Deere & Company
- Trimble Inc.
- Raven Industries
- AKVA Group
- Topcon Positioning Systems
- Agjunction
- Allflex
- Ponsse
- Komatsu Forest AB
- InnovaSea Systems
- TeeJet Technologies
- DICKEY-john
- AG Leader Technology
- DJI
- AgEagle
- Afimilk
- PrecisionHawk
- Hexagon Agriculture
- Farmers Edge
- The Climate Corporation
- CropX
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