Strong Growth Ahead: Internet of Things (IoT) in Agriculture Market Size To Grow At Arecord 11.8% Cagr By 2029

The Internet of Things (IoT) in Agriculture Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Internet of Things (IoT) in Agriculture Market?
In recent times, there has been robust growth in the market size of the internet of things (IoT) in agriculture. The market, which is projected to expand from $14.87 billion in 2024 to $16.29 billion in 2025, will experience a compound annual growth rate (CAGR) of 9.6%. Factors such as data analytics for decision-making, integration of self-operating machinery, crop monitoring systems, livestock tracking and welfare, as well as water management solutions, contributed to this significant growth during the historical period.

Expectations are for the market size of the agriculture-related internet of things (IoT) to experience swift expansion in the coming years. Forecasts suggest that it will reach a value of $25.46 billion by 2029, with a compound annual growth rate (CAGR) of 11.8%. Several factors are believed to contribute to this anticipated growth in the forecasted period, including government involvement and funding, the incorporation of AI and machine learning, data-influenced decision-making processes, increased needs for intelligent farming solutions, and a focus on resource handling and sustainability. Trends to watch for in this upcoming period consist of the adoption of precision agriculture, a rising interest in smart farming, resilience to climate change, solutions for water management, and advances in livestock monitoring and welfare.

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What Are the Emerging Segments Within the Internet of Things (IoT) in Agriculture Market?
The internet of things (IoT) in agriculture market covered in this report is segmented -

1) By Component: Hardware, Software, Connectivity And Services
2) By Type: Small Farms, Mid-Sized, Large
3) By Application: Livestock Monitoring, Smart Greenhouse, Precision Forestry, Fish Farm Monitoring, Other Applications

Subsegments:
1) By Hardware: Sensors, Actuators, Drones, GPS And Tracking Devices
2) By Software: Farm Management Software, Data Analytics Platforms, IoT Platforms, Application Software
3) By Connectivity And Services: Cellular Connectivity, LPWAN (Low Power Wide Area Network), Satellite Connectivity, Wi-Fi And Bluetooth, Consulting Services, System Integration Services, Maintenance And Support Services, Training Services

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What Long-Term Drivers Are Shaping Internet of Things (IoT) in Agriculture Market Trends?
The growth of the Internet of Things (IoT) in the agriculture market is notably influenced by the rise in food demand. This term relates to the consumer's inclination to purchase food products, as assessed through demand and consumption. The introduction of IoT in agriculture enhances agricultural efficiency by capturing a wealth of data relevant to farming such as weather, soil condition, livestock wellness, crop development, and more. Consequently, farmers can diminish the potential of production losses by identifying irregularities in crop development or livestock health. This benefit is driving an increase in utilization of IoT in agriculture. For example, in August 2024, the Department for Environmental Food and Rural Affairs, a UK governmental department, reported that the agri-food chain's contribution to the national gross value added in 2022 was $188.64 billion (£147.8 billion), accounting for 6.5%. Meanwhile, the food chain's gross value added (outside of farming and fishing) reached $169.62 billion (£132.9 billion), up by 15.4% from the prior year. Hence, the elevating food demand is bolstering the Internet of Things (IoT) in the agriculture market.

Who Are the Top Competitors in Key Internet of Things (IoT) in Agriculture Market Segments?
Major companies operating in the internet of things (IoT) in agriculture market include Trimble Inc., Deere & Company, AGCO Corporation, Topcon Positioning Systems Inc., The Climate Corporation, AgJunction Inc., DICKEY-john, Gamaya, AgriData Incorporated, AgEagle Aerial Systems Inc., Grownetics Inc., Auroras s.r.l., Granular Inc., Intervet Inc., Raven Industries Inc., Cisco Systems Inc., International Business Management Corporation, Telit, Hitachi Ltd., TELUS Agriculture Solutions Inc., OnFarm Systems Inc., Farmers Edge Inc., SlantRange Inc., TeeJet Technologies Pvt. Ltd.

What Internet of Things (IoT) in Agriculture Market Trends Are Gaining Traction Across Different Segments?
The trend of technological progression is becoming increasingly prevalent in the agricultural sector's Internet of Things (IoT) market. Most prominent businesses in this domain are directing their attention toward the incorporation of innovative technology into precision farming and are expanding the scope of IoT applications in agricultural practices. For instance, in February of 2024, Israeli telecommunications company Spacecom initiated its Satellite IoT-as-a-Service, focusing on revolutionizing digital farming in Sub-Saharan Africa, especially with regard to precision farming. In partnership with Ayecka, Spacecom used the capabilities of its AMOS GEO satellites and Ayecka's AR-1100 satellite terminals, to offer a comprehensive off-grid solution for efficient IoT services in rural locations.

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Which Regions Are Becoming Hubs for Internet of Things (IoT) in Agriculture Market Innovation?
Asia-Pacific was the largest region in the internet of things (IoT) in agriculture market in 2024. The regions covered in the internet of things (IoT) in agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Internet of Things (IoT) in Agriculture Market?
2. What is the CAGR expected in the Internet of Things (IoT) in Agriculture Market?
3. What Are the Key Innovations Transforming the Internet of Things (IoT) in Agriculture Industry?
4. Which Region Is Leading the Internet of Things (IoT) in Agriculture Market?

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