The global IoT in the agriculture market is anticipated to grow at a CAGR of 11.5% during the forecast period. 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,
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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.
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.
Global IoT in Agriculture Market Report Segment
By Type
- Hardware
- software
By farm size
- small
- medium
- large
By Application
- Precision Agriculture
- Livestock Monitoring
- Aquaculture Management
- Greenhouse Automation
- Soil and Crop Monitoring
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Company Profiles
- AG Leader Technology, Inc.
- AgJunction LLC (a subsidiary of Kubota Corporation)
- Arable Labs, Inc.
- Ceres Imaging, Inc.
- Climate LLC
- Cropin Technology Solutions Pvt Ltd
- Farmer Edge Inc.
- FarmWise Labs, Inc.
- Harvest CROO Robotics LLC.
- iFoodDecisionSciences, Inc.
- iOTFarm, Inc.
- Kverneland AS
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