IoT in Agriculture Market Expected to Reach $84.5 Billion by 2031, at a CAGR of 12.6% : Allied Market Research

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Apr 24, 2026, 06:20 ET

Global food demand is on the rise, precision farming and cloud-based platforms are rapidly adopted for experimentation purposes in agriculture particularly at industrial scale while IoT including connected sensor technologies drive IoT in Agriculture Market toward one of agritech most disruptive multi-billion dollar decades.

WILMINGTON, Del., April 24, 2026 /PRNewswire/ -- Allied Market Research published a report titled, "IoT in Agriculture Market by Application (Precision Farming, Livestock Monitoring, Smart Greenhouse, Fish Farm Monitoring), by System (Automation and Control Systems, Sensing and Monitoring Devices, Livestock Monitoring Hardware, Fish Farming Hardware, Smart Greenhouse Hardware, Software), by Farm Type (Large, Mid Size, Small Farms), : Global Opportunity Analysis and Industry Forecast, 2022 to 2031." According to the report, the global IoT in Agriculture Market was valued at $27.1 billion in 2021 and is projected to reach $84.5 billion by 2031, growing at a CAGR of 12.6% from 2022 to 2031.

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Growth Drivers

The growth of the IoT in Agriculture Market is driven by four structural factors: Increasing need for real-time data analytics, increasing cloud-based services adoption, rising demand for automation & control systems and growing global population coupled with increase in food demand across worldwide. Together, these factors create a collusive demand landscape that is set to remain dynamic into 2031. The IoT in Agriculture Market as one of the most dynamic and high-conviction investment opportunities within the global agricultural technology sector over the coming decade.

Global IoT in Agriculture Market value was $27.1 billion during 2021 and is projected to grow at a compound annual growth rate (CAGR) of more than three folds by the end of 2031 drive due, among other things, from an imminent necessity to feed a growing population on limited resources with even less farmable land. Ergo, there is a high rise in the population which increases my food demand. In IoT in Agriculture Market, this is one of the highest reasons driving investment. Different industries that are agriculture-related such as agriculture equipment, seeds and chemical manufacturers provide the data needed to develop IoT application in this industry.

Key Recent Industry Developments

The EU-funded IoT Large-Scale Pilots Program (LSP) with a total investment of $31.6 million to boost the application of IoT in the European agri-food sector through an unprecedented 73-partner association, including CEMA represents one significant instance of policy-backed investments into agri-IoT infrastructure.

Smartphones and other mobile equipment usage expansion among farmers reflects a rise in the number of devices, beyond that communicates finest applications for any aspect of agriculture trainers providing them with newest practices movies via smartphone. Additionally, farmers rely on broadband and other wireless technologies to keep up-to-date with their respective crops/flocks/fields of interest or take part in practical knowledge-sharing programs already taking place across the sector. With increasing internet penetration, agriculture resources in dozens of local languages make it easier for farmers to raise awareness about skills and trends relevant to the agricultural economy.

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Segment Analysis

By System : Software and Fastest Growing

The software segment dominated the global market in 2021, supported by multiple tools to control hardware like under-yield monitors, soil sensors (for example), water & climate sensors available for most segments of precision farming as well as smart greenhouse and fish farming. The primary arena will be software development, innovation and assimilation. This is the key growth factor for market software.

Applications : Precision Farming on Top, Smart Greenhouses the Fastest Growing

Homework Help Based on application, the precision farming segment held over two-fifths of the total market in terms of revenue and would maintain its dominant share during 2021-2030. On the other hand, smart greenhouse segment would demonstrate highest CAGR of 16.0% during entire forecast period. The report continues by giving additional analysis of livestock monitoring and fish farm monitoring as significant growth verticals in the future

Within farm type : large out in front, mid-size fastest growing

For farm type, the large segment contributed over half of revenue in 2021, and is expected to hold its lead through 2031 in terms of share of global IoT In Agriculture Market. Meanwhile, the mid-size segment would exhibit fastest CAGR of 14.0% during forecast period. This trend showcases the continuously decreasing price point of IoT solutions broadening worldwide accessibility for mid-tier ag operations.

Regional Insights

Asia-Pacific : Largest and Quickest-Growing Market. The growing population with subsequent increase in food demand is anticipated to fuel the IoT in Agriculture Market growth over the forecast period of time. Use of satellite image and ground data information collected through remote sensing technology by government initiative to identify agriculture conditions in other parts will accelerate the growth drastically. This growth is powered by China and India, where both governments are heavily investing in agriculture with programmes to modernise their agricultural systems, build smart irrigation infrastructures and encourage precision agriculture implementation.

North America : Already the Innovation Hub. The IoT in Agriculture Market takes North America as a major market, and the U.S. is leading this region by having one of the most technologically advanced and commercially-oriented agricultural sectors globally. Moreover, to maximize the productivity through effective planning and management for agricultural operations include harvesting, monitoring and inventory planning are further predicted to bolster growth of IoT in Agriculture Industry during 2018-27. This is attributed with rise adoption by farmers toward connected technologies which includes low power wide area (LPWA), Wi-Fi, Zigbee as well as other wireless technology solutions. Furthermore, MarkNtel Advisors North America can benefit from dense agritech start-up concentration and an abundance of venture capital investment in particular through favorable regulations for IoT consumption to large-scale commercial farming operations.

Europe : Policy-Driven Adoption. Due to some of the world best agricultural sustainability policies, Europe is one of the strategically important region in IoT In Agriculture Market. With an investment of $31.6 million and the partnership of 73 partners (including CEMA), among others, The European Union funded IoT Large-Scale Pilots Program (LSP) established a working group to increase IoT application in this sector. These countries include Sweden, Finland, Germany and the Netherlands as well as others in a further EU breakdown multipled by sector with precision agriculture & environmental sustainability mandates driving IoT uptake through dairy, arable and horticulture sectors.

LAMEA : Emerging Growth Corridor. The IoT in Agriculture Market holds the highest long-term potential for Latin America, and Middle East & Africa regions due to increasing food security pressures as well as local government investments towards agricultural modernization. Demand in LAMEA is predominantly driven by Brazil, where the large commercial farming sector rapidly embraces precision agriculture platforms Saudi and South African emerging markets are among the most recognising importance of food self-sufficiency via technology adoption.

Competitive Landscape

The major market players are Farmers Edge Inc., Hitachi, Ltd, Cisco Systems, Inc., Trimble Inc., International Business Machines Corporation, SWIIM System, Ltd., Decisive Farming Corp., SlantRange, Inc., Telit Corporate Group, Climate LLC. These market players have adopted a number of strategies such as partnership, expansion, collaboration, joint ventures and others to showcase their skill in the industry.

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Key Market Insights

The Allied Market Research report on the IoT in Agriculture Market surfaces the following headline findings:

Software Segment: The software segment is also expected to witness highest CAGR of 14.0% during the forecast period
In terms of revenue, precision farming segment dominated in 2021 and Generated about two-fifths the share of global IoT in Agriculture Market. On the other hand, the segment smart greenhouse outshines would register fastest growth at a CAGR of 16.0% during forecast period gone up to October 2023.
As per its report published, it observed that the majority of global market revenue was generated by large-size segment and mid-size is expected to showa highest CAGR (14.0%) during forecast period. The complete architecture for a 26th- century hardware store.
The IoT Large-Scale Pilots Program (LSP), promotes R&D to apply IoT technology in the agriculture and food sector in Europe, gathering an association of 73 partners including CEMA itself with a budget approaching $31.6 million, financed by EU Funds alone.

Key Players

Key Players of the global IoT in Agriculture Market: The major market players are Decisive Farming Corp; Hitachi Ltd.; Farmers Edge Inc; SlantRange, Inc.: Climate LLC; Trimble inc; Telit Corporate GroupCisco SystemsInc. These market players have adopted a number of strategies such as partnership, expansion, collaboration,joint ventures and others to showcase their skill in the industry.

Analyst Review

Various factors driving the growth of IoT in Agriculture Market include growing demand for real-time data analytics, rising adoption of cloud-based services and increasing deployment of automation & control systems. Increase in number with enhancement of food demand is anticipated to propel the IoT in Agriculture Market.

They are all structurally sound, high-CAGR opportunities built on non-discretionary demand drivers — food security (the end of 2022 saw a record-high use of IoT in Agriculture eeason when faced with the decimation brought about by climate change), resource optimization and regulatory mandates for sustainable farming. The report also describes the main drivers, restraints and opportunities of the IoT in agriculture market analysis from 2021 to 2031. This quantitative data helps measure emerging trends at segment level for identifying the prevailing opportunities across different segments of providing insights into sustainable growth within these industries (ADvanced). This data is followed by market research alongside key drivers, constraints and opportunities. With Asia-Pacific establishing itself as both the largest and fastest growing region, while smart greenhouse becoming the application subsegment with highest CAGR at 16.0%, IoT in Agriculture Market offers a prominent visibility for investors, agritech operators & strategic planners through 2031.

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