Global Agriculture IoT MarketOpportunities and Forecast, 2019-2026

The Internet of Things, or IoT, is a collection of interrelated computing devices, mechanical and virtual machines, objects, animals or individuals that have unique identifiers (UIDs) and the ability to transfer information over a network without needing human-to-human or computer-to-computer communication. Smart farming via the use of IoT technologies will benefits to the farmers to reduce generated wastes and boost productivity. The products and services offered by IoT systems includes VRI (Variable Rate Irrigation) optimization; process that increases the productivity on irrigated crop fields with soil flexibility, thereby enhancing yields and improving water use efficiency. It also includes soil moisture probes, virtual optimizer PRO, and others.
The major factor driving the market growth of global Agriculture IoT globally are increasing demand for agriculture due to increasing population across the globe and increasing penetration of IoT and AI-based technology and tools systems, equipment and solution by farmer to maximize yield and reduce wastage of energy. In addition, increasing demand for disease detection technology in order to enhance agriculture efficiency and growing focus on livestock monitoring, precision farming, smart greenhouse among others are further propelling the growth of agriculture IoT market around the world. IoT-based technology is capable to address agriculture issues and can boost quality and quantity of farming production by joining via single platform and making it interactive by sharing, analysing and storing the information. Moreover, increasing the use of smartphone and internet among farmers are boosting the awareness about recent development in the field of agriculture is also fuelling the market growth of agriculture IoT. However, high installation and technology cost and limited technical skill of farmer are restraining the growth of agriculture IoT market.
Asia-Pacific is expected to hold the largest market share in 2018 due to increase the demand for food in this region coupled with growing population. Additionally, various initiative taken by government to use remote sensing technology to gather ground data and satellite image to detect farming conditions in different regions is expected to further propel the market growth. The countries are focusing on changing its agriculture IoT landscape to meet the rising demand for food by a growing population, rapid changes in climate, changing diets, and increasing scarcity of natural resources.
Various notable players in the Agriculture IoT market include Deere & Company, Trimble Inc., Agco Corporation, Raven Industries, DeLaval, GEA Group AG, AgJunction, Merck & Co., Inc., Ponsse Oyj, Komatsu Forest AB. and among others.
The Global Agriculture IoT market has been segmented on the basis of offering, agriculture type, application and Geography. Based on offering market is categorized into hardware, software and services. Hardware segment is further segmented into precision farming hardware, precision forestry hardware, sensors, fish farm monitoring hardware, smart greenhouse hardware, and others. Based on the agriculture type market is segmented into precision farming, precision forestry, livestock monitoring, smart greenhouse, fish farm monitoring, and others. Based on the application market is segmented into precision farming applications, precision forestry applications, livestock monitoring applications, fish farm monitoring applications, smart greenhouse applications, and others.
Key questions answered in this research report:
1- At what pace is the global Agriculture IoT market growing? What will be a growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Agriculture IoT market?
4- What are the various application areas and how they are poised to grow?
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-agriculture-iot-market/
About GMI Research
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