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Global IoT in Agriculture Market to Reach $28.65 Billion by 2023 - ResearchAndMarkets.com

November 23, 2018

DUBLIN--(BUSINESS WIRE)--Nov 23, 2018--The “Global IoT in Agriculture Market: Focus on Systems (Sensing, Communication, Cloud Computing, Data Management), Applications (Precision Crop Farming, Indoor Farming, Livestock Monitoring, Aquaculture)- Analysis and Forecast (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.

Global IoT in Agriculture Market to Reach $28.65 Billion by 2023

With the exponential growth of world population, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. Limited availability of natural resources such as fresh water and arable land along with slowing yield trends in several staple crops, have further aggravated the problem. Another looming concern over the farming industry is the shifting structure of agricultural workforce. Moreover, agricultural labor in most of the countries has declined. As a result of the declining agricultural workforce, adoption of internet connectivity solutions in farming practices has been triggered, to reduce the need for manual labor.

To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions to the farming arena. These solutions are focused on helping farmers close the supply demand gap, by ensuring high yields, profitability, and protection of the environment. The approach of using IoT technology to ensure optimum application of resources to achieve high crop yields and reduce operational costs is called precision agriculture. IoT in agriculture technologies comprise specialized equipment, wireless connectivity, software and IT services.

The report answers the following questions about the IoT in agriculture market:

What is the IoT in agriculture market size in terms of revenue from 2017-2023, and what is the expected growth rate during the forecast period 2018-2023? What is the revenue generated from the different applications, such as precision crop farming, livestock monitoring and management, indoor farming and others? What are the key trends and opportunities in the market pertaining to the Global IoT in the agriculture industry? What are the key systems covered in the IoT in agriculture market? How attractive is the market for different stakeholders present in the industry on the basis of the analysis of futuristic scenario of the Global IoT in agriculture industry? What are the major driving forces that are expected to increase the demand for Global IoT in agriculture market during the forecast period? What are the major challenges inhibiting the growth of the Global IoT in agriculture market? What kind of new strategies are adopted by the existing market players to expand their market position in the industry? What is the competitive strength of the key players in the Global IoT in agriculture market on the basis of the analysis of their financial stability, product offerings, and regional presence?

Key Topics Covered:

Executive Summary

1 Market Dynamics

1.1 Market Drivers

1.1.1 Increasing Demand for Data Management in Agriculture Industry

1.1.2 Increasing Concerns over Global Food Security

1.1.3 Favorable Government Initiatives and Investments

1.2 Market Restraints

1.2.1 High Initial Investment

1.2.2 Lack of Awareness and Infrastructure in Emerging Economies

1.3 Market Opportunities

1.3.1 Increasing Growth Opportunities in Developing Countries

1.3.2 Need of Increased Cloud Security

1.3.3 IoT based Smart Automation Using Drones in Agriculture Industry

2 Competitive Landscape

2.1 Key Market Developments and Strategies

2.2 Market Share Analysis

2.2.1 Market Share Analysis of Global Precision Crop Farming Vendors in IoT in Agriculture Market

3 Industry Analysis

3.1 Key Venture Capital Investments

3.2 Emerging Trends in the IoT in Agriculture Market

3.2.1 Artificial Intelligence (AI) in the Agriculture Industry

3.2.2 Securing the Agriculture Value Chain with Blockchain Technology

3.3 Industry Attractiveness

3.4 Opportunity Matrix

4 Global IoT in Agriculture Market

4.1 Assumptions and Limitations for Analysis and Forecast of the Global IoT in Agriculture Market

4.2 Market Overview

4.3 Regional IoT in Agriculture Market, by Devices Shipped

5 Global IoT in Agriculture Market (by System)

5.1 Market Overview

5.2 Sensing Systems

5.3 Communication Systems

5.4 Cloud Computing

5.5 Data Management Systems

6 Global IoT in Agriculture Market (by Application)

6.1 Precision Crop Farming

6.1.1 Yield Monitoring and Farm Mapping

6.1.2 Crop Scouting

6.1.3 Weather Tracking and Forecasting

6.1.4 Irrigation Management

6.1.5 Other Precision Crop Farming Applications

6.2 Livestock Monitoring and Management

6.2.1 Milk Harvesting

6.2.2 Animal Health Monitoring and Comfort

6.2.3 Feeding Management

6.2.4 Heat Stress and Fertility Monitoring

6.2.5 Other Livestock Management Applications

6.3 Indoor Farming

6.3.1 Climate Control Management

6.3.2 Lighting Management

6.3.3 Plant Development Monitoring

6.3.4 Others Indoor Farming Applications

6.4 Aquaculture

6.4.1 Feed Monitoring

6.4.2 Aquatic Species Tracking and Navigation

6.4.3 Water Quality Management

6.4.4 Others Aquaculture Applications

6.5 Others

7 Global IoT in Agriculture Market (by Region)

8 Company Profiles

AKVA Group ASA AeroFarms Afimilk Ltd. Ag Leader Technology Allflex USA Inc. Boumatic LLC Cowlar DICKEY-John DeLaval Deere & Company Eruvaka Technologies OSRAM Licht AG PrecisionHawk Inc. Proagrica Raven Industries Smartcultiva Corporation Topcon Corporation Trimble Inc.

For more information about this report visit https://www.researchandmarkets.com/research/lv69c3/global_iot_in?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181123005193/en/

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Related Topics:Agriculture,Internet of Things and M2M

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY INTERNET NATURAL RESOURCES AGRICULTURE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/23/2018 11:08 AM/DISC: 11/23/2018 11:07 AM

http://www.businesswire.com/news/home/20181123005193/en

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