Rising Penetration of Internet of Things (IoT) & Artificial Intelligence (AI) technologies in the farming sector will drive IoT in Agriculture Market growth.
According to the most recent analysis by Reports and Data, the size of the global Internet of Things (IoT) in Agriculture Market is anticipated to reach USD 30.8 billion by the year 2028, exhibiting a CAGR of 10.6 percent over the course of the projected period. The growing demand for agricultural output, the increasing penetration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies in the farming sector, and the increasing support for adoption of latest agricultural technologies by the government, along with a growing focus on livestock monitoring to enhance farming efficiency are the major factors driving the growth of market revenue.
The Internet of Things is a significant contributor to the rise in agricultural output in recent years. By connecting farms together over a common network and providing them with information sharing, storage, and review choices, Internet of Things technology can help solve problems in the agricultural industry and improve both the quantity and quality of agricultural products. Combining the Internet of Things (IoT) with other cutting-edge technology tools, equipment, and solutions is one way that the agricultural industry is working to improve its operating efficiency and cut down on energy waste. Using sensors that measure things like light, temperature, and humidity, a system that is built for Internet of Things-based smart farming may monitor crop fields and control irrigation systems.
Deere & Company, Trimble, Raven Industries, AGCO Corporation (AGCO), AgJunction Inc. (AgJunction), DeLaval, GEA Farm Technology, Lely, Antelliq, AG Leader Technology (AG Leader), Tigercat, Ponsse, Komatsu Forest AB, Caterpillar, Treemetrics, Topcon Positioning Systems, and DICKEY-john Corporation are some of the most well-known companies in this industry.
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The term “information and communication technology” (ICT) refers to a wide variety of communication networks in addition to the technologies that underpin and facilitate these networks. The information and communication technology (ICT) sector brings together manufacturing and service businesses whose products primarily perform or enable information processing and communication via electronic methods, including transmission and display. These businesses are referred to as “information processors” and “information enablers.” The information and communications technology industry makes a contribution to the advancement of technology, as well as to increases in output and productivity. Its influence can be evaluated in a number of different ways: directly, as a contributor to growth in production, employment, or productivity; indirectly, as a source of technical development that influences other parts of the economy; and so on.
The market for IoT in Agriculture has been divided into important regions all over the world, and this article provides an analysis of the growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each of these regions. In order to acquire a better knowledge of the regional expansion and development of the Internet of Things (IoT) market for agriculture, the study provides an analysis of the industry broken down by nation.
The research sheds light on the Internet of Things (IoT) in Agriculture market by concentrating mostly on the elements that are driving growth and even some of the aspects that are holding the market back. The issues that are holding back the market are also given the finest solutions, which not only serve as a countermeasure to the disadvantage but also contribute to an increase in market demand. Research is conducted on applications, types, technologies, and a great number of other market subsegments in order to acquire a comprehensive understanding of the market. An explanation of the key driving drivers for the Internet of Things (IoT) market in agriculture is provided in order to provide a foundation for a more in-depth analysis of this market.
In addition, the report makes use of both primary and secondary research methods in order to collect the most important pieces of professional information, and then it applies a number of methods that are considered to be the most effective in the industry upon the data in order to make projections about the future state of the global market for IoT in Agriculture. The research provides an analysis, based on the current state of the market, of how certain activities, such as mergers and acquisitions, will affect the future of the market.
In conclusion, in order to examine the worldwide as well as regional markets in a comparative manner, each and every facet of the market for IoT applications in agriculture is evaluated both statistically and qualitatively. This market analysis provides essential information and factual data about the market, offering a comprehensive statistical study of this market on the basis of key drivers, limits, and its future prospects.