Agriculture IoT Market Report: Trends, Forecast and Competitive Analysis to 2030

Agriculture IoT Trends and Forecast

The future of the global agriculture IoT market looks promising with opportunities in the precision farming, precision livestock, precision aquaculture, precision forestry, and smart greenhouses markets. The global agriculture IoT market is expected to reach an estimated $21.9 billion by 2030 with a CAGR of 9.5% from 2024 to 2030. The major drivers for this market are rise in adoption of VRT, increasing adoption of the internet of things (IoT) and artificial intelligence (AI) by farmers and growers, and government support of precision agriculture practices.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Agriculture IoT by Segment

The study includes a forecast for the global agriculture IoT by hardware type, farm type, farm production planning stage, application, and region.

Agriculture IoT Market by Hardware Type [Shipment Analysis by Value from 2018 to 2030]:

• Precision Farming Hardware
• Precision Livestock Hardware
• Precision Aquaculture Hardware
• Precision Forestry Hardware
• Smart Greenhouses Hardware
• Others

Agriculture IoT Market by Farm Type [Shipment Analysis by Value from 2018 to 2030]:

• Large
• Mid-Sized
• Small Farms

Agriculture IoT Market by Farm Production Planning Stage [Shipment Analysis by Value from 2018 to 2030]:

• Pre-Production Planning
• Production Planning
• Post-Production Planning

Agriculture IoT Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Precision Farming
• Precision Livestock
• Precision Aquaculture
• Precision Forestry
• Smart Greenhouses
• Others

Agriculture IoT Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Agriculture IoT Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies agriculture IoT companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the agriculture IoT companies profiled in this report include-

• Ponsse
• Komatsu Forest
• InnovaSea Systems
• Steinsvik
• TeeJet Technologies
• Afimilk
• PrecisionHawk
• Hexagon Agriculture
• Farmers Edge
• Tigercat

Agriculture IoT Market Insights

Lucintel forecasts that small farm is expected to witness the highest growth over the forecast period due to reduction in the cost of farm automation equipment and technological developments.

Within this market, precision aquaculture is expected to witness the highest growth due to growing demand for real-time tracking of fishing activity.

APAC is expected to witness the highest growth over the forecast period due to the adoption of internet of things technologies in agriculture, escalating possibility for consumers to invest in digital solutions in order to remain in cutthroat marketplaces, and growing expectations for the integration of digital solutions in product development processes to minimize downtime.

Features of the Global Agriculture IoT Market

Market Size Estimates: Agriculture IoT market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Agriculture IoT market size by various segments, such as by hardware type, farm type, farm production planning stage, application, and region in terms of value ($B).

Regional Analysis: Agriculture IoT market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different hardware type, farm type, farm production planning stage, application, and regions for the agriculture IoT market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the agriculture IoT market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the agriculture IoT market size?

Answer: The global agriculture IoT market is expected to reach an estimated $21.9 billion by 2030.

Q2. What is the growth forecast for agriculture IoT market?

Answer: The global agriculture IoT market is expected to grow with a CAGR of 9.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the agriculture IoT market?

Answer: The major drivers for this market are rise in adoption of VRT, rising adoption of the internet of things (IoT) and artificial intelligence (AI) by farmers and growers and government support of precision agriculture practices.

Q4. What are the major segments for agriculture IoT market?

Answer: The future of the global agriculture IoT market looks promising with opportunities in the precision farming, precision livestock, precision aquaculture, precision forestry, and smart greenhouses markets.

Q5. Who are the key agriculture IoT market companies?

Answer: Some of the key agriculture IoT companies are as follows:

• Ponsse
• Komatsu Forest
• InnovaSea Systems
• Steinsvik
• TeeJet Technologies
• Afimilk
• PrecisionHawk
• Hexagon Agriculture
• Farmers Edge
• Tigercat

Q6. Which agriculture IoT market segment will be the largest in future?

Answer: Lucintel forecasts that small farm is expected to witness the highest growth over the forecast period due to reduction in the cost of farm automation equipment and technological developments.

Q7. In agriculture IoT market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth over the forecast period due to the adoption of internet of things technologies in agriculture, escalating possibility for consumers to invest in digital solutions in order to remain in cutthroat marketplaces, and growing expectations for the integration of digital solutions in product development processes to minimize downtime.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the agriculture IoT market by hardware type (precision farming hardware, precision livestock hardware, precision aquaculture hardware, precision forestry hardware, smart greenhouses hardware, and others), farm type (large, mid-sized, and small farms), farm production planning stage (pre-production planning, production planning, and post-production planning), application (precision farming, precision livestock, precision aquaculture, precision forestry, smart greenhouses, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?