Market Research Expert

IoT in Agriculture Market to have Good Business Opportunities in the Coming Years

Press Release   •   Jan 17, 2018 06:08 EST

Internet of Things (IoT) is a hugely exciting phenomenon and has the potential to create a world where everything is connected via internet. Internet of Things in agriculture incorporates internet based advanced agriculture technologies and solutions. IoT is anticipated to have a significant role in enhancing agricultural productivity. IoT provides real-time field monitoring through real-time data collection and data analysis. IoT controller mechanism deployment in agriculture supports increase in operational efficiency, yield enhancement, and agriculture wastage minimization. IoT in agriculture is applicable for precision farming to surmount natural calamities, for instance, adversely changing uncertain climate and inadequate irrigation among others.

Increasing food safety importance and demand across the world is augmented the global IoT in agriculture market. For instance, in the span of 2014 – 2016, according to estimates of the Food and Agriculture Organization of the United Nations, nearly 795 million people were chronically undernourished, that is, one in nine people are suffering from chronic undernourishment. Moreover, uncertainty in climate change is driving the need for IoT in agriculture market. Climate change significantly affects agriculture production.

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For instance, adversely affected climate change in the world’s breadbasket the Brazilian Mato Grosso, led to a fall in soybean production. Similarly, extreme heat across the U.S. and Eastern Australia has resulted in declining yield production. The need for IoT integration in agriculture is anticipated to show significant rise to surmount these issues, thus driving the IoT in agriculture market globally. Furthermore, need to monitor the health and performance of livestock is driving IoT in agriculture market. However, lack of connecting services for the agriculture market is restraining the growth of the market.

Proliferation of internet and smartphones in the current market is anticipated to create significant growth opportunities for IoT in agriculture market globally. Furthermore, cooperation of private, state-owned, and government enterprises with agro processing and food manufacturers are expected to create extensive opportunities for IoT in the agriculture market across the world. Growing trend of rapid innovations and technological advancement in agriculture industry is driving the growth of IoT in agriculture market across the world. A similar trend is expected to be seen during the forecast period.

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Global IoT in agriculture market is classified by agriculture type, application, and offering. Based on agriculture type, the market is divided into three main segments which include arable, pastoral, and mixed. The application segment of IoT in agriculture market is sub segmented as livestock monitoring, farm inventory management, soil monitoring, climate control, moisture monitoring, nutrient monitoring, crop scouting, yield monitoring, smart logistics and distribution, field mapping, precision farming, agricultural drone, precision livestock, smart greenhouse, smart immigration, and farm management system, among others. Offering type segment of the global IoT in agriculture market is further classified as sensing systems, global positioning system, and radio frequency identification among others.

Based on geographic region, the global IoT in agriculture market is categorized as North America, Europe, Asia and Pacific, Middle East & Africa, and South America. North America includes the U.S., Canada, and Rest of North America. IoT in agriculture market in Europe covers the U.K., Germany, France, and Rest of Europe. Asia Pacific includes India, China, Japan, Australia, and Rest of Asia Pacific. Middle East & Africa includes the market analysis across GCC, South Africa, and Rest of Middle East & Africa. Furthermore, South America IoT in agriculture market is analyzed as Brazil and Rest of South America.

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Some of the major players in the global IoT in agriculture market who provide advanced and scalable IoT solutions globally include Cisco Systems Inc., AGCO Corporation, Deere & Company, CropX Inc., Semios Technologies Inc., Trimble, Inc., DeLaval Corporation, Agribotix LLC, Raven Industries, Inc., SenseFly, Flex technology accelerator, Advanced Ag Solutions LLC, and Digi-Star LLC, among others.

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