IoT Agriculture Market Size

IoT Agriculture Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Internet of Things in Agriculture market is expected to grow at a CAGR of 27.6 percent from 2024 to 2035, according to a new study from Grand View Research. During the forecast period, this market is expected to register a CAGR of 11.15%. The main driving force for this market is the need for increased productivity and productivity. The development of precision agriculture, remote sensing and big data will help farmers optimize resource use and increase crop yields, thereby creating a favorable environment for IoT solutions in agriculture. The main players in the IoT in agriculture industry, such as John Deere, Trimble, AG Leader and others, are actively investing in new products and establishing strategic alliances to enhance their product offerings. John Deere, for example, is developing smart machinery that can be connected to the Internet, which is in line with the industry's trend of automation and data-driven decision-making. Also, the cooperation between technology companies and agricultural enterprises will further promote the application of IoT solutions. , so that the market can be more dynamic and meet the needs of the industry.

Regional Market Size

Regional Deep Dive

The Internet of Things in Agriculture Market is experiencing significant growth in different regions, owing to the increasing adoption of smart farming technology and the need for enhancing agricultural productivity. North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America are the major IoT in Agriculture markets. Each region has its own characteristics, which are influenced by the local agricultural practices, technological advancements, and regulatory frameworks.

North America

• The United States Department of Agriculture (USDA) has also set up a precision agriculture research team, which encourages farmers to adopt IoT technology to optimize the use of resources and optimize crop yields.
• Agricultural equipment manufacturers like John Deere and Trimble are at the forefront of this revolution, with their smart tractors and precision irrigation systems, which are revolutionizing farming practices.
• A high level of investment in agricultural technology start-ups, supported by venture capital, is fostering innovation and bringing IoT solutions to farming.

Europe

• The European Union is also concerned with the digital transformation of agriculture. It is encouraging farmers to adopt the Internet of Things for resource and environment management.
• The IoT in Agriculture initiative is an example of the use of the Internet of Things in agriculture, facilitating collaboration between the relevant stakeholders to share data and interoperability.
• The use of wireless communications in agriculture is already in progress in such countries as the Netherlands, where the IoT is being used to improve crop management and reduce food waste.

Asia-Pacific

• In the meantime, China and India have been investing in the Internet of Things (IoT) to help solve the food security problem.
• The IoT (Internet of Things) has the potential to transform farming, by enabling farmers to monitor their crops in real time, making more informed decisions and managing their resources better.
• The increased penetration of the Internet and mobile phones in rural areas is facilitating the use of IoT solutions, enabling farmers to access information that will help them improve productivity.

MEA

• The United Arab Emirate's National Food Security Strategy is promoting the use of IoT in agriculture, and focusing on the use of new technology to increase the production of food in arid regions.
• Aerofarms is a pioneer in this field. Its solutions optimize resource use and increase crop yields in urban settings.
• The region’s special climate is driving the development of smart irrigation systems that use the Internet of Things to conserve water and improve agricultural efficiency.

Latin America

• The IoT is spreading rapidly in the agro-industrial sector, with initiatives like the AgTech Revolution, which aims to modernize agricultural practices and increase productivity through the use of data.
• Local companies such as Solinftec are developing Internet of Things platforms that allow farmers to make more efficient use of their land.
• A variety of agricultural land and a wide variety of climatic conditions in the region create a need for IoT solutions that can be adapted to local conditions and which can optimize the use of resources.

Did You Know?

“It is a known fact that agriculture uses about 70 per cent of the world’s fresh water. IoT can help optimize this usage, enabling the annual saving of billions of gallons of water.” — Food and Agriculture Organization (FAO)

Segmental Market Size

The IoT in Agriculture sector is an important contributor to the efficiency and sustainability of agriculture and is currently experiencing rapid growth. A key driver of this growth is the increasing need for precision farming, which optimizes resource use and improves crop yields, as well as the increasing use of smart farming, which enables real-time data collection and analysis. Regulations promoting sustainable agriculture are also contributing to the growth of this market.

The IoT in agriculture is moving from the trial stage to the large-scale application stage. The leading precision agriculture companies, such as John Deere and Trimble, are well-known examples. The main application is soil monitoring, crop monitoring, and livestock monitoring. The leading regions are North America and Europe. The trend of sustainable development and the demand for food security are driving the industry, and the development of the Internet of Things in agriculture is mainly influenced by the development of sensors, drones, and big data.

Future Outlook

IoT in Agriculture Market is poised to grow at a strong CAGR of 11.15% from 2024 to 2035. This growth is attributed to the increasing adoption of precision farming, which uses IoT to optimize resource usage and enhance crop yields. By 2035, it is estimated that over 60% of farms around the world will use IoT to monitor the environment and make data-driven decisions that improve the operational efficiency and sustainability of the farm.

It is a fact that in the United States the number of farmers has grown steadily, from five to twenty-five millions, and the number of farmers in this country is seven millions. The number of people in the United States is eight millions. The population of the United States is five hundred and fifty millions. The number of farmers in the United States is seven millions. The number of people in the United States is five hundred and fifty millions. The number of farmers in the United States is five hundred and fifty millions.