Global Agriculture IoT Market is estimated to grow to USD 18.1 billion
by 2026 from USD 11.4 billion in 2021; at a CAGR of 9.8% during
2021–2026.
Smart agriculture technologies assist in increasing
profitability, improving sustainability, protecting the environment, and
minimizing the consumption of resources such as water, fertilizers, and
energy. IoT is implemented in various applications, including precision
farming, livestock monitoring, precision aquaculture, smart greenhouse,
and precision forestry.
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.
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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.
Key
players in the agriculture IoT market include 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).
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.
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