Agriculture IoT Market in North America to hold the largest market share in 2023

The global 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.

North America accounted for the largest share of the agriculture IoT market in 2020. Farmers or growers in the Americas are increasingly adopting advanced farming equipment such as steering and guidance systems, sensors, GPS trackers, smart irrigation systems, display devices, and farm management software, which is the prime factor supporting the growth of the market. In addition, government support for the adoption of such practices is further boosting the growth of the agriculture IoT market in the region.

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Key Players:
Deere & Company (US), Trimble Inc. (US), Raven Industries (US), DeLaval (subsidiary of Tetra Laval International, S.A.) (Sweden), AKVA group (Norway), Topcon Positioning Systems (US), AgJunction (US), Allflex (Subsidiary of Merck & Co., Inc.), Ponsse (Finland), Komatsu Forest AB (Sweden), InnovaSea Systems (US), Steinsvik (ScaleAQ) (Norway), TeeJet Technologies (US), DICKEY-john (US), AG Leader Technology (US), DJI (US), AgEagle (US), Afimilk (Israel), PrecisionHawk (US), Hexagon Agriculture (Brazil), Farmers Edge (Canada), Tigercat (US), The Climate Corporation (US), Descartes Labs (US), CropX (Israel), Eruvaka Technologies (India), ec2ce (Spain), Gamaya (Switzerland), Akuakare (Turkey), and In-Situ (US).

The precision aquaculture application segment to register higher CAGR during the forecast period    

The precision aquaculture application segment is projected to register the higher CAGR during the forecast period, by application. Precision aquaculture aims at optimizing the efficiency of farms and the effective implementation of operational activities such as feed planning and yield measurement. Factors contributing towards the growth of the segment are the increasing adoption of advanced technologies such as IoT, AI and machine learning in aquaculture equipment and tools, and the growing demand for protein-rich aqua food products.

The automation and control systems for the precision farming hardware segment to hold the largest market share in 2026

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. Precision farming hardware devices and tools helps in managing variations in the field to grow more crops using fewer resources and reducing production cost. 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.