Agriculture IoT Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Agriculture IoT Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 18, 2024 /EINPresswire.com/ -- The agriculture iot market has experienced robust growth in recent years, expanding from $14.16 billion in 2023 to $15.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to farm mechanization and automation, rise of smart farming practices, connectivity infrastructure development, farm size and large-scale operations, crop health monitoring, efficient resource management, weather and climate monitoring, affordability and scalability.

What Is The Estimated Market Size Of The Global Agriculture IoT Market And Its Annual Growth Rate?
The agriculture iot market is projected to continue its strong growth, reaching $22.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to global expansion of precision agriculture, government regulations and standards, drones and uavs integration, climate change mitigation, increasing adoption in developing regions, predictive analytics for disease management, customization for crop types, focus on sustainable agriculture.

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Growth Driver Of The Agriculture IoT Market
The growing crop production is expected to propel the growth of the agriculture IoT market going forward. Crop production refers to the process of growing, cultivating, and harvesting crops for various purposes, primarily for human consumption or for animal feed. Agriculture IoT is used in crop production to enhance efficiency, optimize resource utilization, increase productivity, and contribute to sustainable and environmentally friendly farming practices.

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Which Market Players Are Driving The Agriculture IoT Market Growth?
Key players in the market include Deere & Company, The Tetra Laval Group, Topcon Positioning Systems Inc., Trimble Inc., Raven Industries Inc., AgJunction Inc., Farmers Edge Inc., Field Group AS, AgEagle Aerial Systems, Komatsu Forest AB, InnovaSea Systems Inc., Steinsvik AS, Ponsse PLC, The Climate Corporation, OnFarm Systems Inc., SlantRange Inc., TELUS Agriculture Solutions Inc., Ag Leader Technology, Autonomous Solutions Inc., BouMatic Robotic B.V., Helium Systems Inc., Benchmark Labs Inc., Jala Corporation, Myriota Pty Ltd, Ketos Inc., FarmInsect Ltd., Orbital Insight Inc., M5Stack Technology Co. Ltd., KisanHub Ltd., Amber Agriculture Inc., Arable Labs Inc., Sencrop SAS.

What Are The Emerging Trends Shaping The Agriculture IoT Market Size?
Major companies operating in the agriculture IoT market are adopting a strategic partnership approach to leverage the strengths of different companies to create integrated solutions that address the evolving needs of the agriculture industry. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.

How Is The Global Agriculture IoT Market Segmented?
1) By Component type: Hardware, Software, Connectivity and Services
2) By Farm Type: Large, Mid-Sized, Small Farms

Geographical Insights: North America Leading The Agriculture IoT Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Agriculture IoT Market Definition
Agriculture IoT (Internet of Things) refers to using sensors, cameras, and other gadgets to convert every aspect and action related to farming into data. Agriculture IoT helps in creating large data sets from weather, moisture, plant health, mineral status, chemical applications, insect presence, and many other variables, enabling big data engineers to derive insights about the farm at various degrees of granularity using software algorithms. Agriculture IoT helps farmers use these data to decide how to plant, irrigate, harvest, and more.

Agriculture IoT Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global agriculture iot market report covering trends, opportunities, strategies, and more
The Agriculture IoT Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on agriculture iot market size, agriculture iot market drivers and trends and agriculture iot market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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