IoT in agriculture involves IoT based modern technological systems, tools, solutions and equipment for enhancing operational efficiency, minimizing energy wastage and maximizing production through real time field data collection, data analysis, data storage and development of control platform. IoT-based applications like livestock monitoring, precision farming, fish farm monitoring and smart greenhouse are anticipated to increase the speed of various agriculture processes. IoT in agriculture market is expected to see a significant growth in upcoming years all over the world.
MARKET SCOPE
The "Global IoT in Agriculture Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the IoT in agriculture market with detailed market segmentation by offering, application, end user and geography. The report provides key statistics on the market status of the leading IoT in agriculture market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global IoT in agriculture market is segmented into automation and control Systems, sensing and monitoring devices, livestock monitoring solutions, software solutions and others.
- On the basis of application, the market is segmented into precision farming, livestock monitoring, aquaculture and others.
- Based on end user, the market is bifurcated into individuals and commercial.
MARKET DYNAMICS
Drivers:
- Government initiatives regarding transforming the traditional agricultural practices into smart farming.
- Rising urbanization and increasing per capita disposable income to boost market growth of IoT in agriculture.
- Growing number of new players in this market.
Restraints
- Costs involved in smart farming may be challenging for the farmers from developing countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The IoT in agriculture market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the IoT in agriculture market in these regions.
IMPACT OF COVID-19 ON IoT IN AGRICULTURE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic has also affected the agriculture sector to some extent. Considering this, farmers are avoiding all the non-essential expenditure and investment. Post pandemic, this market is expected to rise significantly all over the world.
MARKET PLAYERS
The report covers key developments in the IoT in agriculture market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from IoT in agriculture market are anticipated to lucrative growth opportunities in the future with the rising demand for IoT in agriculture in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the IoT in agriculture market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Accenture
- Climate Corporation
- Deepfield Robotics
- Farmers Edge Inc.
- Flux Farm, Inc.
- IBM Corporation
- KaaIoT Technologies, LLC
- Libelium Comunicaciones Distribuidas S.L
- Octonion SA
- Telit
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.