The Agriculture IoT Market is Expected to Grow from USD 12.7 Billion in 2019 to USD 20.9 Billion by 2024, at a CAGR of 10.4% from 2019 to 2024

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Oct 24, 2019, 07:45 ET

DUBLIN, Oct. 24, 2019 /PRNewswire/ -- The "Agriculture IoT Market by Offering (Hardware, Software, & Services), Application (Precision Farming, Precision Forestry, Livestock Monitoring, Fish Farm Monitoring and Smart Greenhouse), Application, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Agriculture IoT Market is Expected to Grow from USD 12.7 Billion in 2019 to USD 20.9 Billion by 2024, at a CAGR of 10.4% from 2019 to 2024.

A few key factors driving the growth of this market are rising demand for agricultural production owing to increasing population, increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology by farmers and growers, and focus on livestock monitoring and disease detection to improve farming efficiency.

The advent of advanced technologies such as guidance systems, variable rate technology, Internet of Things (IoT), artificial intelligence (AI), and remote sensing has transformed the agriculture industry into a technologically intense and data-rich industry.

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, fish farming, smart greenhouse, and precision forestry.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Agriculture IoT Market
4.2 Market in APAC, By Application and Country
4.3 Market, By Offering
4.4 Market, By Agriculture Type
4.5 Market, By Region
4.6 Geographic Analysis of Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of IoT and AI By Farmers and Growers
5.2.1.2 Growing Focus on Livestock Monitoring and Disease Detection
5.2.1.3 Rising Demand for Agricultural Production Output
5.2.1.4 Governments Support to Adopt Modern Agricultural Techniques
5.2.2 Restraints
5.2.2.1 Fragmented Agriculture Industry
5.2.2.2 High Technological Cost and Limited Technical Knowledge and Skills of Farmers
5.2.3 Opportunities
5.2.3.1 Advent of Big Data in Agriculture Farm
5.2.3.2 Introduction of Agriculture-Specific Applications in Smartphones
5.2.3.3 Adoption of Drones in Precision Farming
5.2.4 Challenges
5.2.4.1 Unavailability of Simple and Standardized Data Management and Data Aggregation Tools
5.2.4.2 Lack of Standardization in Smart Agriculture Industry
5.2.5 Emerging Trends in Agriculture Industry
5.2.6 Technologies Influencing Future Precision Agriculture - A Road Map
5.2.7 Supply Chain Analysis
5.3 Value Chain Analysis
5.3.1 Major Stakeholders in Precision Farming Ecosystem

6 Agriculture IoT Market, By Offering
6.1 Introduction
6.2 Hardware
6.2.1 Precision Farming Hardware
6.2.1.1 Automation and Control Systems
6.2.1.1.1 Drones/UAVs
6.2.1.1.1.1 Use of Drones Or Unmanned Aerial Vehicles (UAVs) in Precision Farming Enables Cost Saving
6.2.1.1.2 Irrigation Controllers
6.2.1.1.3 GPS/GNSS Systems
6.2.1.1.4 Flow and Application Control Devices
6.2.1.1.5 Guidance and Steering
6.2.1.1.6 Handheld Mobile Devices/Handheld Computers
6.2.1.1.7 Displays
6.2.1.1.8 Others
6.2.1.2 Sensing and Monitoring Devices
6.2.1.2.1 Yield Monitors
6.2.1.2.2 Soil Sensors
6.2.1.2.3 Water Sensors
6.2.1.2.4 Climate Sensors
6.2.1.2.5 Others
6.2.2 Precision Forestry Hardware
6.2.2.1 Harvesters & Forwarders
6.2.2.1.1 Harvesters and Forwarders are Major Components of the Ctl System
6.2.2.2 UAVs/Drones
6.2.2.2.1 Drones are Also Used to Capture Vital Forest Data Such as Depth of Snow in Forests and Extent of Carbon Storage Within Forest
6.2.2.3 GPS
6.2.2.4 Cameras
6.2.2.5 RFID and Sensors
6.2.2.6 Variable Rate Controllers
6.2.2.7 Others
6.2.3 Livestock Monitoring Hardware
6.2.3.1 RFID Tags and Readers
6.2.3.2 Sensors
6.2.3.3 Control System
6.2.3.3.1 All-Weather Wireless Transmitters and Receiver Systems Can Be Used to Send Wireless Video and Audio
6.2.3.4 GPS
6.2.3.4.1 Finding Missing Livestock is Possible With Using GPS Systems
6.2.3.5 Others
6.2.4 Fish Farm Monitoring Hardware
6.2.4.1 GPS/GNSS
6.2.4.1.1 GPS GNSS Systems are Becoming Widely Used Tools in Fish Farming for Fish Tracking and Fleet Navigation
6.2.4.2 Sensors
6.2.4.2.1 Sensors are Used to Monitor Real-Time Parameters to Control Water Quality and Prevent Diseases That Could Affect Fish
6.2.4.3 Others
6.2.5 Smart Greenhouse Hardware
6.2.5.1 HVAC Systems
6.2.5.1.1 HVAC Plays Vital Role in Maintaining Ideal Temperature for Plant Growth in Greenhouses
6.2.5.2 Led Grow Lights
6.2.5.2.1 Grow Lights are Used as Supplemental Lighting Sources Stimulating Plant Growth in Greenhouses
6.2.5.3 Sensors
6.2.5.3.1 Sensors Provide Quantitative Information to Help Guide and Automate Decision-Making Process Pertaining to Smart Greenhouses
6.2.6 Others
6.3 Software
6.3.1 Local/Web-Based
6.3.2 Cloud-Based
6.3.2.1 Platform as A Service (PaaS)
6.4 Services
6.4.1 System Integration and Consulting
6.4.2 Managed Services
6.4.2.1 Farm Operation Services
6.4.2.2 Data Services
6.4.2.3 Analytics
6.4.3 Connectivity Services
6.4.4 Assisted Professional Services
6.4.4.1 Supply Chain Management Services
6.4.4.2 Climate Information Services
6.4.4.3 Others
6.4.5 Maintenance and Support

7 Agriculture IoT Market, By Agriculture Type
7.1 Introduction
7.2 Precision Farming
7.3 Precision Forestry
7.4 Livestock Monitoring
7.5 Smart Greenhouse
7.6 Fish Farm Monitoring
7.7 Others

8 Agriculture IoT Market, By Application
8.1 Introduction
8.2 Precision Farming Applications
8.2.1 Yield Monitoring
8.2.1.1 Yield Monitoring Includes Soil Monitoring and Nutrient Monitoring
8.2.2 Field Mapping
8.2.2.1 Field Mapping is Done Using Handheld Devices and Systems Equipped With GPS/GNSS
8.2.3 Crop Scouting
8.2.3.1 Crop Scouting Includes Use of Sophisticated Devices Such as GPS Receivers on Vehicles
8.2.4 Weather Tracking and Forecasting
8.2.5 Irrigation Management
8.2.5.1 Irrigation Management Helps Enhancing Productivity of Fields and Minimizing Wastages of Water, Soil Infertility, Salinization, and Crop Water Stress
8.2.6 Inventory Management
8.2.6.1 Effective Farm Inventory Management Plays Integral Role in Managing Farm Inventories
8.2.7 Farm Labor Management
8.2.7.1 Farm Labor Management Software Helps in Applications Such as Crew Deployment and Payroll Management
8.2.8 Financial Management
8.2.8.1 Financial Management has Become Easier Due to Precision Agriculture Software
8.2.9 Others
8.3 Precision Forestry Applications
8.3.1 Genetics and Nurseries
8.3.1.1 Unmanned Aerial Vehicles/Drones are Increasingly Being Used for Tree Plantation
8.3.2 Silviculture and Fire Management
8.3.2.1 Wireless Sensor Network-Based Forest Fire Detection Systems are Adopted in Silviculture and Fire Management Applications
8.3.3 Harvesting Management
8.3.3.1 Harvesting Management to Hold Largest Market Share During Forecast Period
8.3.4 Inventory and Logistics Management
8.3.4.1 Inventory and Logistics Management to Witness Highest CAGR in Market for Precision Forestry Applications During Forecast Period
8.4 Livestock Monitoring Applications
8.4.1 Feeding Management
8.4.1.1 Hardware and Software Products Help Formulate and Update Cows' Diets to Avoid Overfeeding and Resultant Fluctuations in Milk Production
8.4.2 Heat Stress Management
8.4.2.1 Cattle are Sensitive to Air Temperature, Radiant Temperature, Air Velocity, and Relative Humidity
8.4.3 Milk Harvesting Management
8.4.3.1 Automated Milk Harvesting Reduces Labor Cost, Increases Milking Efficiency, and Leads to Higher Yields
8.4.4 Breeding Management
8.4.4.1 Breeding Management is a Highly Effective and Sustainable Approach for Increasing Animal Productivity in Long Term
8.4.5 Animal Comfort Management
8.4.5.1 High Level of Animal Comfort Results in Prominent Production Level Per Animal and Higher Product Quality
8.4.6 Behavior Monitoring and Management
8.4.7 Others
8.5 Fish Farm Monitoring Applications
8.5.1 Fish Tracking and Fleet Navigation
8.5.2 Feeding Management
8.5.3 Water Quality Management
8.5.3.1 Fish Farms are Equipped With Sensors and Other Devices to Sense Water Quality and Take Appropriate Actions
8.5.4 Others
8.6 Smart Greenhouse Applications
8.6.1 HVAC Management
8.6.1.1 Wireless Systems and Sensors are Deployed to Meet Greenhouse Requirements
8.6.2 Yield Monitoring
8.6.2.1 Yield Monitors Can Track Temperature, Humidity, Light, and Other Factors Around Plants to Maximize Smart Greenhouse Yield
8.6.3 Water and Fertilizer Management
8.7 Other Applications

9 Agriculture IoT Market, By Geography

Company Profiles

Key Players

Deere and Company
Trimble Inc.
Agco Corporation
Raven Industries
Delaval (Subsidiary of Tetra Laval International, S.A.)
GEA Group
Agjunction
Antelliq (Subsidiary of Merck & Co., Inc)
Ponsse
Komatsu Forest

Other Key Players

Teejet Technologies
Topcon Positioning Systems
Dickey-John
Cropmetrics
DJI
Precisionhawk
Hexagon Agriculture
Granular
Tigercat
Tree Metrics

Innovators

Descartes Labs
Decisive Farming
Cainthus
Autonomous Tractor Corporation
Skyx
Nileworks Inc.
Gamaya

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