IoT in Agriculture Market Forecast Indicates Rapid Growth Supported by Government Initiatives and Rising Need for Sustainable Farming Practices

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global IoT in Agriculture Market- (By Component (Hardware and Software), By Application (Precision Farming, Livestock Monitoring, Indoor Farming, Aquaculture, and Others)) Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global IoT in Agriculture Market is valued at USD 23.0 Bn in 2024, and it is expected to reach USD 78.8 Bn by 2034, with a CAGR of 13.2% during the forecast period of 2025-2034.

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The adoption of Internet of Things (IoT) technologies in agriculture enables the seamless integration of interconnected sensors and devices to autonomously gather, transmit, and analyze operational data, thereby improving efficiency and supporting data-driven decision-making across farming processes. This digital shift is being accelerated by the growing use of cloud-based platforms, increased reliance on automation and control systems across industries such as transportation, healthcare, and manufacturing, and the rising demand for real-time analytics. In tandem, the need for IoT hardware-including sensors, gateways, and communication infrastructure-is expanding. The global rollout of 5G networks is expected to further strengthen agricultural IoT applications by enabling high-speed, low-latency connectivity.

Rising global food demand, driven by rapid population growth, has intensified the need for technologies that enhance productivity and optimize resource utilization, thereby reinforcing the adoption of IoT-enabled agricultural solutions. However, several factors continue to hinder market expansion. High upfront investment requirements for acquiring, installing, and maintaining IoT systems, combined with the need for specialized technical expertise, pose significant challenges. Limited digital literacy among farmers and agricultural workers-particularly within smallholder and resource-constrained settings-further restricts effective implementation, potentially slowing the broader adoption of IoT-driven innovations in the agricultural sector.

List of Prominent Players in the IoT in Agriculture Market:
• Deere & Company
• Microsoft
• CNH Industrial N.V.
• Robert Bosch GmbH
• Kalera Inc.
• Heliospectra AB
• Signify Holding
• AKVA Group ASA
• Eruvaka Technologies
• AGRIVI
• Climate LLC
• AeroFarms
• AmHydro
• Connecterra B.V.
• OSRAM GmbH

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Market Dynamics
Drivers:
The adoption of Internet of Things (IoT) technologies in agriculture is accelerating as industry stakeholders increasingly recognize their ability to enhance crop yields and address the rising global demand for food. Continuous technological innovation is enabling farmers to improve resource efficiency, minimize operational losses, and strengthen overall farm productivity. The growth of precision agriculture is further supporting this shift, as it promotes data-centric approaches that allow for more accurate monitoring, analysis, and management of agricultural activities.

Challenges:
Despite these advantages, the large-scale deployment of IoT solutions in agriculture faces several constraints. High upfront investment requirements for hardware-such as sensors, actuators, GPS units, drones, and communication networks-pose financial obstacles, particularly for small and mid-sized farms. Moreover, limited technical proficiency among farmers and field operators often restricts effective system implementation and usage. Data security and privacy concerns remain additional impediments, as apprehension over potential breaches or misuse may undermine confidence in digital technologies.

Regional Trends:
North America is expected to retain its dominant position in the agricultural IoT market, driven by well-established technological infrastructure, strong sustainability initiatives, and the presence of leading agricultural technology providers. Government programs and financial incentives aimed at promoting digital transformation further support regional expansion. Europe also represents a major growth region, supported by substantial agricultural investment capacity, advanced digital infrastructure, and increasing food demand associated with population growth. The region's commitment to sustainable, efficient farming is anticipated to accelerate the adoption of IoT-enabled solutions across the agricultural sector.

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Recent Developments:
• In March 2024, Cisco introduced new multifunctional devices designed for modern hybrid workforces, improving collaborative experiences. In addition to the Cisco Desk Phone 9800 Series, which aims to provide a contemporary and customized workstation for every user, the business also announced the release of the Cisco Board Pro G2, a collaboration device powered by artificial intelligence and equipped with touch capabilities.
• In February 2024, IBM and the Government of Gujarat's Commissionerate of Technical Education signed an MoU to strengthen professional and technical education in the state. Working together, we will use IBM SkillsBuild to provide students in Gujarat with the tools they need to succeed in the modern workforce, including proficiency with artificial intelligence and its subfields, cybersecurity, hybrid cloud computing, and other cutting-edge technologies.

Segmentation of IoT in the Agriculture Market-
IoT in the Agriculture Market- By Component
• Hardware
o Processors and Sensors
o Communication Modules
 Wi-Fi
 Bluetooth
 Cellular
 Others (Radio-Frequency Distribution (RFID), Satellite Communications, etc.)
o Others (Actuators, Cameras, etc.)
• Software
IoT in the Agriculture Market- By Application
• Precision Farming
• Livestock Monitoring
• Indoor Farming
• Aquaculture
• Others
IoT in the Agriculture Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

View Overview Report: https://www.insightaceanalytic.com/report/iot-in-agriculture-market/2425

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.