Internet Of Things In Precision Agriculture Market, By Component, By System, By Application, By Geography

Description

Global Internet of Things in precision agriculture market is estimated to be valued at US$ 6.15 Bn in 2024 and is expected to reach US$ 16.21 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 6.15 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	14.80%	2031 Value Projection:	US$ 16.21 Bn

Figure. Internet Of Things In Precision Agriculture Market Share (%), By Region 2024

Internet Of Things In Precision Agriculture Market - IMG1

Global Internet of Things in precision agriculture market growth is driven by rising adoption of IoT and wireless sensing technologies in the agriculture sector. IoT devices allow farmers to remotely monitor soil conditions, weather, livestock activities, inventory levels and various other parameters. The data collected from these devices provides meaningful insights to farmers to optimize usage of resources like water, fertilizers and take appropriate actions. Furthermore, precision agriculture supported by IoT improve crop yields and quality while minimizing production costs and wastage. With growing global population and challenge of feeding billions, innovative IoT solutions are helping maximize agricultural output in a sustainable manner.

Market Dynamics:

Global Internet of Things in precision agriculture market growth is driven by factors like growing focus on maximizing crop yields to meet rising global food demand, cost benefits of optimized usage of resources supported by real-time data analysis, increasing government initiatives to support adoption of smart farming techniques and multi functionality of IoT devices in agriculture. However, high initial investments and technology implementation challenges in remote areas can hamper the market growth. Ongoing innovations expanding application scope of IoT in areas like livestock monitoring and smart greenhouses can offer significant opportunities for key market players in the near future.

Key features of the study:

This report provides in-depth analysis of the global Internet of Things in precision agriculture market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global Internet of Things in precision agriculture market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Ag Leader Technology, AgJunction, Inc., AKVA Group ASA, AeroFarms, AmHydro, AGRIVI, Cisco Systems, Inc., Climate LLC, Connecterra B.V., Deere & Company, Eruvaka Technologies, Heliospectra AB, Hitachi, Ltd., and IBM

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global Internet of Things in precision agriculture market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation:

By Component
- Hardware
- Software
- Services
By System
- Sensing System
- Communication System
- Cloud Computing
- Data Management System
By Application
- Weather Tracking and Forecasting
- Yield Monitoring and Farm Mapping
- Crop Scouting
- Irrigation Management
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Ag Leader Technology
- AgJunction, Inc.
- AKVA Group ASA
- AeroFarms
- AmHydro
- AGRIVI
- Cisco Systems, Inc.
- Climate LLC
- Connecterra B.V.
- Deere & Company
- Eruvaka Technologies
- Heliospectra AB
- Hitachi, Ltd.
- IBM

Product Code: CMI4993

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Component
- Market Snippet, By System
- Market Snippet, By Application
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Internet of Things in Precision Agriculture Market, By Component, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Hardware
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Software
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Services
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Internet of Things in Precision Agriculture Market, By System, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Sensing System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Communication System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Cloud Computing
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Data Management System
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Internet of Things in Precision Agriculture Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Weather Tracking and Forecasting
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Yield Monitoring and Farm Mapping
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Crop Scouting
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Irrigation Management
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$Bn)

7. Global Internet of Things in Precision Agriculture Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By System, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By System, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By System, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By System, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031, (US$ Bn)
- Market Size and Forecast, By System, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Ag Leader Technology
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AgJunction, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AKVA Group ASA
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AeroFarms
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AmHydro
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AGRIVI
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cisco Systems, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Climate LLC
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Connecterra B.V.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Deere & Company
- Eruvaka Technologies
- Heliospectra AB
- Hitachi, Ltd.
- IBM

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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