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Agriculture IoT Market Worth $20.9 Billion by 2024 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

16 Oct, 2019, 12:30 GMT

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CHICAGO, Oct. 16, 2019 /PRNewswire/ -- According to the new market research report on "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", published by MarketsandMarkets™, 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 increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology by farmers and growers, focus on livestock monitoring and disease detection to improve farming efficiency, and rising demand for agricultural production owing to increasing population.

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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199564903

Hardware to hold the largest share of agriculture IoT market during the forecast period

Hardware is expected to account for the largest share of the agriculture IoT market during the forecast period. The increasing adoption of new technologies and advanced devices for smart agriculture is expected to drive the growth of the agriculture IoT market for hardware during the forecast period. Precision farming involves hardware devices and tools to minimize input and increase crop productivity (output). Automation and control systems such as a global positioning system (GPS) receivers, guidance, and steering devices, and variable rate technology (VRT) tools play a significant role in the precision farming industry.

Agriculture IoT precision farming market for automation and control systems to grow have higher growth during the forecast period

The agriculture IoT precision farming market for Automation and control systems was valued s expected to grow at a higher CAGR from 2019 to 2024. The increasing demand for drones/unmanned aerial vehicles (UAVs) is a major reason behind the high growth of the market for automation and control systems. Also, the increasing adoption of automation and control devices such as GPS/GNSS, irrigation controller, and guidance and steering has created a new approach to farming practices and is expected to drive the market for automation and control systems.

Agriculture IoT market in APAC is expected to grow at the highest CAGR during the forecast period

The agriculture IoT market in APAC is expected to grow at the highest CAGR during the forecast period. Factors driving the adoption of agriculture IoT technologies in APAC include the rising demand for food, growing pressure to improve yields with limited resources, and increasing requirement to protect crops from unexpected climatic changes. India, China, and Japan have embraced this technology and hold a major share of the agriculture IoT market.

Browse in-depth TOC on "Agriculture IoT Market"

106 – Tables

42 – Figures

204 – Pages

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Deere & Company (US), Trimble (US), Raven Industries (US), AGCO Corporation (AGCO) (US), AgJunction Inc. (AgJunction) (US), DeLaval (Sweden), GEA Farm Technology (Germany), Lely (Netherlands), Antelliq (France), AG Leader Technology (AG Leader) (US), Tigercat (Canada), Ponsse (Finland), Komatsu Forest AB (Sweden), Caterpillar (US), Treemetrics (Ireland), Topcon Positioning Systems (US), and DICKEY-john Corporation (US) are some of the major players in agriculture IoT market.

Please Explore Relevant Reports:

Precision Livestock Farming Market by Functional Process (Climate Control, Water Usage, Feed Dosage, Weight Estimates, Animal Behaviour), Hardware (Camera, Milking Robots, Sensors, Microphones), Application, and Geography - Analysis & Forecast to 2019 - 2024

Precision Farming Market by Technology (Guidance System, VRT, Remote Sensing), Precision Farming Application (Crop Scouting, Field Mapping, Irrigation), Precision Farming Offering (Hardware-Sensors, GPS/GNSS, Yield Monitors, Software, Services), and Geography - Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/iot-in-agriculture-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source : https://www.marketsandmarkets.com/PressReleases/iot-in-agriculture.asp

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