Global IoT in Agriculture Market 2016 To Reach Valued At $ 4.40 Billion And Grow At A 28.30% Cagr Forecast To 2024

The global IoT in agriculture market valued USD 4.40 billion in 2015 and is projected to grow at CAGR of 28.30% during the forecast period.

PUNE, MAHARASTRA, INDIA, November 8, 2019 / — Global IoT in Agriculture Market Outlook 2016-2024

Market Overview:

The economic growth of a country depends on its agricultural practices. The worldwide population has been rapidly increasing along with the demand for food and it’s consumption. But the production rate of food is slow compared to the pace of growing population. Meeting the needs of the people is getting even more challenging with passing years.

This demand has given rise to the concept of smart agriculture in different countries in order to encourage high crop yielding. Brand new agricultural technologies are entering the market with tremendous potential. The implementation of advanced agricultural products, techniques, gadgets such as big data analytics, cloud based platforms and IoT (Internet of Things).

The integration of IoT in Agriculture market is at it’s initial stage, but the rising availability of wireless communications systems is leading the demand of IoT in smart agriculture. A lot of startups have crashed into the market with IoT in Agriculture and are raising a lot of funds and revenues. The lack of food resources is a global concern, especially in developing countries like India, where the proportion between food production and the population rise does not match.

Agricultural problems are being given attention by devising solutions through technological advancements in this industry. The most successful companies in this market are intensively investing in acquisitions and expansion of farm network business, which will be the driving factor of smart agriculture in the world.

This industry’s motive is to promote the usage of innovative products and provide a digital platform to farmers and boost the overall agricultural productivity.

The global IoT in agriculture market valued USD 4.40 billion in 2015 and is projected to grow at CAGR of 28.30% during the forecast period.

Top Key Vendors :-
IBM Corporation
John Deere & Company
Qualcomm Flight Platform
Deepfield Robotics (Bosch)
Topcon Positioning Systems, Inc.
Raven Industries, Inc.
SemiosBio Technologies Inc.
AGCO Corporation
CNH Industrial
Lindsay Corporation
Trimble Navigation Ltd.
Cisco Systems
Leica Geosystems
FluxFarm Inc.
Climate Corporation

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This study divides the facts and figures of IoT in Agriculture based on it’s Components (Hardware, Software, Platforms), Applications (Precision Farming, Aquaculture, Precision Livestock Monitoring, Smart Greenhouse, Horticulture, Animal Husbandry) and Geographical Locations (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) . The Components are further segmented as Hardware (Drones, Sensors, RFID Tags, Others (Transmitters, Sprinklers), Software ( Data Management Software, Network Management Software, Security Software, Remote Monitoring Software, Real Time Streaming Analysis Software) and Platforms (Connectivity/M2M Platforms, Infrastructure-as-a-Service (IaaS), Backend Platforms, Hardware specific software Platforms, Consumer/Enterprise Software Extension Platforms).

Regional Analysis:

The agricultural scenario of every country is analysed thoroughly. Different regions have different agricultural concerns according to their region’s population and food production rate. All of these cases are given attention to and discussed properly in this study. The geographical regions that will be taken into account are :-

North Amercia (U.S & Canada), Latin America ( Brazil, Mexico, Rest of Latin America), Europe (The U.K, Germany, France, Italy, Spain, Poland, Sweden & RoE), Asia – Pacific ( China, India, Japan, Singapore, South Korea, Australia, New Zealand and RoA), Middle East & Africa (GCC, South Africa, North Africa, All Other Regions)

The market size, growth analysis, opportunity analysis of all these countries will be provided in this report to help interested companies to make business decisions.

Industry News:

The rise of IoT in Agriculture is inevitable as the Global Food and Agriculture Industry’s market value is destined to cross over 6.0 Trillion by 2020. Startups revolving around smart agriculture have raised funds over 2.0 Billion USD in 2016. In 2017, American agricultural equipment manufacturer AGCO Corporation declared that it’s going to invest in and gather precision planting equipment and signed an agreement with The Climate Corporation.


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Source: EIN Presswire