IoT In Farming Market Outlook 2027 By Industry Size, Share, Trends, Opportunity and Forecast
According to TechSci Research, Global IoT in farming market is expected to show robust growth with an impressive CAGR in the forecast period, 2017-2027 on the account of rapidly increasing use of technology in all aspects of life as well as various sectors functioning the whole world. Rapidly increasing population of the world and thus the increase in the demand for food across the globe is actively driving the growth of the global IoT in farming in the upcoming five years. Climatic changes that affect the yields of the crops, quality and quantity is also substantiating the growth of the global IoT in farming market in the next five years. Owing to the advantages of various sensors that give the information about the climatic changes, quality and demand for the crops and crop lands is further aiding the growth of the global IoT in farming market in the future five years.
Internet of thigs have applications in various sectors of different industries like healthcare industry, agriculture industries, defense, manufacturing of advanced devices, consumer electronic industries etc. Applications of internet of things in farming has introduced the use of technologies that modifies the agricultural practices, seed quality, land qualities, understands the demand of the crops for better yields, as well as idealizing the climatic and other necessities such that large amount of the feeding crops can be produced. Smart farming based on IoT includes multiple IoT sensors that can analyze and update themselves according to working conditions to collect real-time data generated in the product development phase.
The global IoT in farming market is segmented by component, application, competitional landscape, and regional distribution. Based on application, the market is further bifurcated into precision farming, smart greenhouse, livestock monitoring, smart irrigation, and others. Precision farming application involves processes like yield monitoring, field mapping, crop scouting, weather tracking & forecasting, variable rate technology, inventory management, financial management, and others. Smart greenhouse application involves ambient environmental monitoring, yield monitoring, and water & nutrient management. Whereas livestock management includes applications for feeding management, breeding management, and others. Precision farming is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of surging demand for the higher yielding crops. Advanced technologies are incorporated in the identification of the quality of the land as well as the conditions thereby supporting the idea of precision farming and driving the growth of the global IoT in farming market in the next five years.
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Holding the major shares of the global IoT in farming market are Deere & Company, Trimble, Inc., Raven Industries, DeLaval, Inc., AKVA group, Topcon Positioning Systems, Inc., AgJunction Inc., Allflex USA, Inc., GEA Group, CropMetrics LLC, Telit IoT Platforms, LLC, InnovaSea Systems, Inc., Bayer AG, Farmers Edge, Inc., Teejet Technologies Illinois, LLC, among others. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through IoT in farming. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
- To analyze the historical growth of the market size of global IoT in farming market from 2017 to 2020.
- To estimate and forecast the market size of global IoT in farming market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global IoT in farming market based on component, application, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global IoT in farming market.
- To identify drivers and challenges for global IoT in farming market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global IoT in farming market.
- To identify and analyze the profile of leading players operating in global IoT in farming market.
- To identify key sustainable strategies adopted by market players in global IoT in farming market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures and service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of global IoT in farming market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Manufacturers, service providers, end users, and other stakeholders
- Distributors and suppliers of products & services and other stakeholders
- Organizations, forums, and alliances related to IoT in farming
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute | Details |
Base Year | 2021 |
Historical Data | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F |
Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments covered | · Component · Application |
Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia, Singapore; Vietnam, Germany, France, United Kingdom, Italy, Russia; South Africa, UAE, Saudi Arabia, Nigeria, Egypt; Turkey; Brazil, Argentina, Colombia; Chile |
Key companies profiled | Deere & Company, Trimble, Inc., Raven Industries, DeLaval, Inc., AKVA group, Topcon Positioning Systems, Inc., AgJunction Inc., Allflex USA, Inc., GEA Group, CropMetrics LLC, Telit IoT Platforms, LLC, InnovaSea Systems, Inc., Bayer AG, Farmers Edge, Inc., Teejet Technologies Illinois, LLC. |
Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global IoT in farming market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- IoT In Farming Market, By Component:
- Hardware
- Automation and Control Systems
- Irrigation controllers
- Variable Rate controllers
- Flow and Application Control Devices
- Sensing and Monitoring Devices
- Soil Sensors
- Water Sensors
- Climate Sensors
- Sensors for livestock
- Yield Monitors
- RFID tags and readers
- Drones
- Navigation
- Displays
- Handheld Computers
- LED Grow Lights
- Others
- Software
- On-Premise
- Cloud-Based
- Services
- Managed Services
- Professional Services
- IoT In Farming Market, 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
- IoT In Farming Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe & CIS
- France
- Germany
- United Kingdom
- Italy
- Russia
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Vietnam
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Nigeria
- Egypt
- Turkey
- South America
- Brazil
- Argentina
- Colombia
- Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global IoT in farming market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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