IoT In Farming Market to Grow with a CAGR of 8.40% through 2029
Increasing adoption of cloud computing in smart
farming and technological developments in IoT sensors in agriculture is
expected to drive the Global IoT in Farming Market growth in the forecast
period, 2025-2029.
According to TechSci Research report, “IoT In
Farming Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the Global IoT In Farming Market stood at USD 11.87 Billion in
2023 and is anticipated to grow with a CAGR of 8.40% in the forecast period, 2025-2029. The Global IoT in
Farming Market is primarily driven by several key factors. The rising
population and the subsequent increase in food demand necessitate the use of
advanced farming techniques. IoT helps in achieving this demand by offering
improved crop yield and efficient resource management.
In addition, government initiatives worldwide to
modernize the agricultural sector and the rapid adoption of technologies in
agriculture also bolster the growth of the Global IoT in Farming Market. The
advent of affordable and improved internet connectivity in rural areas
facilitates the implementation of IoT solutions in farming.
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"Global IoT In Farming Market”
The Global
Internet of Things (IoT) in Farming Market has experienced a significant
positive impact with the emergence of smart farming practices. By integrating
IoT technologies into agriculture, farmers have been able to enhance
productivity, reduce wastage, and optimize yield. Through the utilization of
smart sensors and advanced data analytics, real-time monitoring of crop health
and soil conditions has become possible, resulting in the efficient utilization
of resources. Farmers can now precisely monitor the moisture levels in the
soil, detect nutrient deficiencies, and even remotely control irrigation
systems, all leading to improved crop quality and higher yields.
Also, the
integration of IoT (Internet of Things) in farming has revolutionized the
agricultural landscape, opening up new avenues for data-driven decision making.
By harnessing the power of IoT technologies, farmers can now access and analyze
real-time data from various sources, including weather forecasts, soil sensors,
and crop health monitoring systems. With this wealth of information at their
fingertips, farmers are empowered to make more informed decisions about crucial
aspects of their operations. They can optimize planting schedules based on
accurate weather predictions, fine-tune irrigation strategies to ensure optimal
water usage, and implement targeted pest control measures to protect crops
while minimizing the use of harmful chemicals. This data-driven approach not
only leads to improved yields but also brings about significant cost savings
and a reduced environmental impact. By utilizing IoT in farming, farmers can
maximize productivity, minimize waste, and contribute to sustainable and
efficient agricultural practices.
The Global IoT
in Farming Market holds immense potential for revolutionizing the agricultural
industry. By harnessing the power of IoT, farmers can improve their efficiency,
reduce environmental impact, and meet the increasing demands of a growing
population. However, it is crucial to address the challenges and ensure the
responsible and secure implementation of IoT technologies in order to unlock
the full benefits of this transformative trend in farming.
The Global IoT
In Farming Market is segmented into component, application, regional
distribution, and company.
Based on Component,
Software is dominating the Global IoT in Farming Market due to its ability to
optimize agricultural operations by providing real-time insights and analytics.
With IoT software applications, farmers can analyze data from various sources
such as soil sensors, weather reports, and GPS trackers, enabling them to make
data-driven decisions with precision. These applications not only automate
irrigation schedules and predict optimal harvesting times but also monitor
livestock health, ensuring better efficiency and productivity in farming.
Based on region,
North America takes the lead in the Global IoT in Farming Market, driven by a
combination of compelling factors. The region boasts some of the world's most
technologically advanced agricultural operations, where farmers eagerly embrace
IoT technologies to optimize yields and enhance overall efficiency. North America is also home to a plethora of renowned tech companies that are at the
forefront of developing cutting-edge IoT solutions tailored specifically to the
unique needs of the farming sector. Likewise, the proactive government policies
in countries like the United States and Canada actively foster digital
innovation in agriculture, providing robust support and well-established
infrastructure for these transformative technologies to truly flourish and
revolutionize the industry.
Major companies
operating in Global IoT In Farming Market are:
- Deere & Company
- Trimble Inc.
- Raven Industries, Inc.
- AKVA Group
- DeLaval, Inc.
- Topcon Positioning Systems, Inc.
- AgJunction LLC
- Allflex USA, Inc.
- TeeJet Technologies
- Farmers Edge, Inc.
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“The future of
the Global IoT in Farming Market looks incredibly promising. With the
integration of emerging technologies such as AI, Machine Learning, and Big
Data, the farming industry is experiencing a revolution in efficiency and
productivity. These advancements have paved the way for precision farming,
where real-time data on crop health, soil conditions, and weather patterns can
be continuously monitored and analyzed. This wealth of information empowers
farmers to make informed decisions and optimize their farming practices,
resulting in maximized crop yield and minimized resource wastage. Consumers are
becoming increasingly conscious of the environmental impact of conventional
farming methods, leading to a shift towards sustainable alternatives. The
Global IoT in Farming Market not only addresses this demand but also offers
innovative solutions to enhance the overall quality and safety of agricultural
products, driving the market growth,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“IoT In Farming
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Component (Hardware {Automation and Control Systems, Sensing and
Monitoring Devices, RFID tags and readers, Drones, Navigation, Displays,
Handheld Computers, LED Grow Lights, Others}, Software {On-Premise,
Cloud-Based}, Services {Managed, Professional}), By Application (Precision
Farming {Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking &
Forecasting, Variable Rate Technology, Inventory Management, Financial
Management, Others}, Smart Greenhouse {Ambient Environmental Monitoring, Yield
Monitoring, Water & Nutrient Management}, Livestock Monitoring {Feeding
Management, Breeding Management, Others}, Smart Irrigation, Others), By Region
and Competition 2019-2029F”, has evaluated
the future growth potential of Global IoT In Farming Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global IoT In Farming Market.
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