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 use of IoT technology in the agricultural sector is referred to as the Agriculture IoT (Internet of Things) Market. In order to monitor and manage numerous agricultural operations, such as crop cultivation, livestock farming, and irrigation management, this technology makes use of sensors, devices, and data analytics tools. The necessity to maximise crop yields and the rising demand for effective farming methods will drive the agriculture IoT market to significant growth over the ensuing years.
The global economy's expansion depends in large part on the agriculture sector. Food demand has increased along with the world population growth. Farmers' problems like crop failure, degraded soil, and water scarcity can be solved by the agriculture IoT market. Farmers can monitor their crops in real-time with IoT technology and decide when to irrigate, fertilise, or harvest with knowledge.
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IoT adoption in agriculture has the potential to change the sector and offer farmers a host of advantages. The elimination of manual work is one of the main advantages of internet of things technologies. Farmers can receive real-time data on the functioning of their machinery, livestock, and crops by remotely monitoring their fields.Crop yields can be increased by using this data to improve farming methods.
IoT technology can also aid farmers in conserving resources like water and energy. Farmers may choose when and how much water to use for irrigation by employing sensors to track soil moisture levels, minimising resource waste. The automation of lighting, heating, and cooling systems in greenhouses and other buildings is another way that IoT technology might assist farmers in minimising their energy use.
The growing demand for smart farming techniques is likely to drive considerable growth in the IoT market for agriculture in the upcoming years. The market is divided into segments based on region, offering, and application. Precision farming, animal monitoring, and smart greenhouse management are some of the main agricultural applications of IoT technology. Hardware, software, and services are all included in the offering sector.
The agriculture IoT market is anticipated to be dominated by North America, followed by Europe and Asia Pacific. The agriculture IoT market in North America is anticipated to rise as a result of the rising adoption of cutting-edge technology in the industry and the presence of significant players in the area. The region's agriculture IoT market is anticipated to increase due to the rising global food demand and the use of smart farming techniques.
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