The global IoT in the agriculture market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). The market is driven by growing demand for sustainable farming, increasing need to improve production efficiency, growing government support, technological advancements such as the use of AI/ML, image processing in IoT products, and increasing investments in the sector from both public and private organizations. For instance,
In March 2023, Bayer and Microsoft finalized their partnership, which was announced over a year ago, to develop a cloud-based set of data tools and data science solutions for the food and agriculture industry. With this partnership.
Browse the full report description of “IoT in Agriculture Market Size, Share & Trends Analysis Report by Type (Hardware and Software), by Farm size (Small, Medium, and large size farm), and by Application (For Precision Agriculture, Livestock Monitoring, Aquaculture Management, Greenhouse Automation and Soil and Crop Monitoring), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/iot-in-the-agriculture-market
In April 2023, Bosch, BASF Smart Farming, and AGCO Corporation jointly announced their collaboration to integrate and bring Smart Spraying technology to Fendt Rogator sprayers. Additionally, they will work together to develop new features for these sprayers.
In February 2023, The Jammu and Kashmir government approved a project called "Sensor-based Smart Agriculture" for $3.7 million The project aims to integrate agriculture with technology driven by artificial insemination and the Internet of Things (IoT) to automate practices, improve resource use efficiency, and increase profitability. The project will also be expected to enable the use of high-tech polyhouses for year-round cultivation of cash crops. IoT and automation will be used to monitor the microclimatic parameters of plants in these polyhouses.
In February 2023, the government of India announced to establish of a fund to support agritech-startups. The fund aims to increase digital infrastructure in rural areas and boost startups in this space. The fund will work to develop cost-effective solutions to address the challenges faced by farmers by introducing new technologies and increasing output. The minister said that the Agriculture Accelerator Fund is part of the government's inclusive development agenda.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
o By farm size
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes AGCO Corporation, CropX, Inc., John Deere GmbH & Co. KG., and Topcon Positioning Systems, Inc. among others.
The companies are adopting strategies such as focusing on research and development, raising funds, new product launches, and collaboration to stay competitive. For instance, in August 2023, Agrela Ecosystems announced the pilot launch of its product named PheNode. According to the company, this is the first step towards a full-scale commercial release scheduled for 2025. PheNode is an advanced, scalable environmental sensor platform designed to allow users to collect customized data and integrate new technologies. For instance in August 2023, Agritech startup Agrela Ecosystems launched scalable environmental sensor platform named as PheNode. This platform allows uses customizable data collection and rapid integration with new technologies which is also aligned with principle of industry 4.0
Key questions addressed by the report.
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global IoT in Agriculture Market Report Segment
By Type
By farm size
By Application
Global IoT in Agriculture Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/iot-in-the-agriculture-market