$18 Bn Agriculture IoT Markets: Precision Farming, Precision Forestry, Precision Livestock, Precision Aquaculture, Smart Greenhouse - Global Forecast to 2026 - ResearchAndMarkets.com

The "Agriculture IoT Market with COVID-19 Impact Analysis by Hardware, Application (Precision Farming, Precision Forestry, Precision Livestock, Precision Aquaculture, Smart Greenhouse), Farm Size, Production Stage, and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The agriculture IoT market is estimated to grow from USD 11.4 billion in 2021 to USD 18.1 billion by 2026 at a CAGR of 9.8% during 2021-2026.

The growth of the agriculture IoT market is driven by factors such as increasing adoption of the Internet of Things (IoT) and artificial intelligence (AI) by farmers and growers, growing focus on livestock monitoring and disease detection, high demand for fresh produce, population growth, loss of arable land, surging adoption of aquaculture monitoring and feed optimization devices in developing countries, and strong government support for precision farming practices.

"Precision aquaculture application to register higher CAGR during the forecast period"

The agriculture IoT market for the precision aquaculture application segment is projected to register the higher CAGR during the forecast period, by application. Increasing demand for real-time tracking of fishing activity is the major reason behind the high growth of the agriculture IoT market in aquaculture farm monitoring applications. Additionally, increasing government support worldwide for freshwater aquaculture production, and growing investments in technological research and product innovations to further boost the demand for the market.

"Production planning stage is estimated to hold the largest share of the market during the forecast period"

The production planning stage segment of the agriculture IoT market is estimated to register the largest market share in 2026, by the farm production planning stage. Farmers are extensively using agriculture IoT hardware devices for monitoring and data analytics applications in order to formulate data-driven strategies to maximize profits.

Data pertaining to production processes, crops, and equipment is collected with the help of sensors. This data is stored in the cloud, and data analytics solutions generate insights with such data. Farm owners can leverage these insights and make important decisions about their farms.

"Small farm segment to register higher CAGR during the forecast period"

The agriculture IoT market for small farm segment is projected to register the higher CAGR during the forecast period, by farm size. Small farms are expected to adopt automation and other advanced technologies at the highest rate in the coming years due to the reducing cost of farm automation equipment and advancements in technology that make it more feasible to deploy automation tools even on smaller farms to achieve high returns on investments.

"Automation and control systems for precision farming hardware segment is estimated to hold the largest share of the market during the forecast period"

The automation and control systems for the precision farming hardware segment of the agriculture IoT market is estimated to register the largest market share in 2026, by hardware type. The increasing demand for drones/unmanned aerial vehicles (UAVs) is a major reason behind the high growth of the market for automation and control systems. Also, the increasing adoption of automation and control devices such as GPS/GNSS, irrigation controllers, and guidance and steering systems is expected to drive the market for automation and control systems.

"APAC is projected to become the fastest geographical market between 2021 and 2026"

APAC is likely to be the fastest-growing agriculture IoT market during the forecast period. Agriculture IoT techniques are expected to be adopted at a high rate in APAC.

This region consists of emerging countries such as India, China, and countries in South East Asia. Rapidly growing population, availability of arable land, and strong government support for farmers through subsidies in these regions are the major factors driving the adoption of agriculture IoT technologies in APAC.

Major players profiled in this report:

The agriculture IoT market is dominated by a few established players such as Deere & Company (US), Trimble Inc. (US), Raven Industries (US), DeLaval (a subsidiary of Tetra Laval International, S.A.) (Sweden), and AKVA group (Norway).

Market Dynamics

Drivers

  • Strong Government Support for Promoting Use of Precision Farming Techniques
  • Increasing Adoption of IoT and Ai for Various Agricultural Applications
  • Rise in Number of Industrial-Scale Indoor Farms to Meet Increasing Demand for Food, as Well as Lack of Arable Land
  • Surging Adoption of Aquaculture Monitoring and Feed Optimization Devices in Developing Countries
  • Increased Adoption of Vrt, Remote Sensing, and Guidance Technologies by Farmers Worldwide
  • Increasing Focus on Real-Time Monitoring and Early Disease Detection

Restraints

  • High Upfront Cost for Deployment of Modern Agricultural Equipment
  • Lack of Technical Knowledge and Skills Among Farmers
  • Fragmented Agriculture Industry

Opportunities

  • Growing Adoption of Uavs or Drones in Agricultural Farms
  • Rising Adoption of Livestock Monitoring Solutions in Developing Countries
  • Growing Popularity of Poultry Robots and Bsc Smart Cameras
  • Increasing Number of Cage-Based Farms in Developing Regions Such as India, China, and South East Asian Countries
  • Introduction of Agriculture-Specific Smartphone Applications

Challenges

  • Unavailability of Simple and Standardized Data Management and Data Aggregation Tools
  • Emergence and Re-Emergence of Diseases and Environmental Concerns

Trends/Disruptions Impacting Customer's Business

  • Revenue Shift & New Revenue Pockets for Agriculture IoT Hardware Manufacturers

Technology Trends

  • Internet of Things (Iot) Shaping Agriculture IoT Market
  • Drones/Uavs
  • Ai, Ar/Vr, and Blockchain in Aquaculture to Accelerate Market Growth
  • Use of Farm Automation Solutions, Remotely Operated Vehicles, and Feeding Robots to Reduce Labor Costs
  • Adoption of Robotic Cages and Underwater Drones in Aquaculture Farms
  • Ai and Blockchain in Livestock Farming
  • Body Conditioning Scoring (Bcs) Systems
  • Technology Adoption in Dairy Farms
  • Technology Adoption in Poultry Farms
  • Integration of Telematics with Forest Mechanization in Precision Forestry
  • Advent of Lidar-Fitted Uavs in Precision Forestry

Case Studies: Agriculture IoT Market

  • Open Blue: Innovasea Helps Open Blue Become Largest Open-Ocean Fish Farm in World
  • Earth Ocean Farms: Innovasea Enables Earth Ocean Farms to Expand Production with Rugged Evolution Pens
  • Erko Seafood As: Akva Group's Expertise and Quick Service, Erko Seafood as Found Real Deal
  • Allflex: Livestock Monitoring Solution Improving Breeding Rate in Dairy Cows
  • Latium: Ranchers in Ghana Remotely Monitoring Their Livestock
  • Onnecterra: Ai-Based Solution Improving Farm Productivity
  • Whitesides Used Agworld Software Platform for Record-Keeping and Custom Fertilizer Application
  • Anna Binna Farms Used Agworld Software Platform for Farm Record Keeping System and for Pre-Emergent Herbicides
  • Murdoch Family: Agworld Software Platform, Murdoch Family Digitized Their Farm Management for Improved Accuracy and Profitability
  • Lilliput AG Aims to Improve Planning by Capturing Data with Agworld Platform

Companies Mentioned

  • Afimilk
  • AG Leader Technology
  • Ageagle
  • Agjunction
  • Akuakare
  • Akva Group
  • Allflex (Subsidiary of Merck & Co. Inc.)
  • Cropx
  • Deere & Company
  • Delaval (Subsidiary of Tetra Laval International, S.A.)
  • Descartes Labs
  • Dickey-John
  • DJI
  • EC2CE
  • Eruvaka Technologies
  • Farmers Edge
  • Gamaya
  • Hexagon Agriculture (Subsidiary of Hexagon Group)
  • In-Situ, Inc.
  • Innovasea Systems
  • Komatsu Forest
  • Ponsse
  • Precisionhawk
  • Raven Industries
  • Steinsvik (Part of Scale Aq)
  • Teejet Technologies
  • The Climate Corporation
  • Tigercat
  • Topcon Positioning Systems
  • Trimble Inc.

For more information about this report visit https://www.researchandmarkets.com/r/r9ithi