Global IoT in Agriculture Market Size was valued at USD 23.0 Bn in 2024 and is predicted to reach USD 78.8 Bn by 2034 at a 13.2% CAGR during the forecast period for 2025-2034.
The Internet of Things in agriculture highlights how IoT technology is applied to farming and agricultural operations. The use of networked sensors and gadgets that can exchange data and communicate online without requiring human intervention is known as IoT in agriculture technology. Internet of Things (IoT) in agriculture is being propelled by a number of factors, including the rising demand for cloud-based services, automation and control systems in a variety of industries, and real-time data analytics. Sensors, gateways, and networking gear are just a few of the many gadgets that are in high demand in the Internet of Things (IoT) industry in agriculture. The agricultural sector could be entirely transformed by forming a global IoT in the agriculture market.
By using IoT technology in agriculture, suppliers can increase their chances of reaching a worldwide audience, and countries can better accommodate the increasing need for food. In addition, the growing interest in IoT in agriculture and its potential to improve crop yield optimization aided in the growth of the farming industry.However, the high cost is hampered by the market growth because small and medium-sized farms need help to afford the high upfront expenses of Internet of Things (IoT) technologies in agriculture. One more thing that gets in the way of farmers and agricultural workers using IoT technologies effectively is their general need for more technical knowledge, a major obstacle to the adoption of the IoT in the agriculture market. In addition, the expansion of the IoT in the agriculture market is expected to be driven by the rising number of farmers who are well-informed about the newest advances in the industry, owing to the proliferation of smartphones and internet access.
The IoT in the agriculture market is segmented based on component, and application. Based on the component, the market is segmented into hardware and software. By application, the market is segmented into precision farming, livestock monitoring, indoor farming, aquaculture and others.
The hardware segment is expected to hold a significant market share in 2023 because hardware components such as sensors, gateways, and drones serve as the foundational infrastructure for IoT in agriculture systems. Without these physical devices to collect data from the field, there would be no data to analyze or act upon. Thus, the hardware segment plays a critical role in enabling the functionality of IoT solutions. As IoT technology becomes more widely adopted in agriculture, there may be a surge in demand for hardware components. Farmers recognize the value of real-time data collection and monitoring for optimizing crop yields, resource utilization, and operational efficiency. This increasing adoption drives the growth of the hardware segment.
Precision farming is growing rapidly because of an increase in agricultural output, and efficiency is required to meet the world’s rising food demand and keep the population from starving. This need is met by precision farming, which allows for the more accurate application of water, fertilizers, and pesticides; this enhances agricultural yields while simultaneously reducing waste and environmental effects. Internet of Things (IoT) innovations have also reduced the price and increased accessibility of sensors, drones, and other precision agriculture assets. Improved crop health and productivity can be achieved through the use of these technologies, which offer real-time insights into farm conditions.
The North American IoT in the agriculture market is expected to register the highest market share in revenue in the near future. It can be attributed to the government's actively encouraging progress in modern agricultural technologies and implementation of Internet of Things (IoT) technology, increasing tendency toward precision farming, and robust supporting infrastructure. In addition, Asia Pacific is projected to grow rapidly in the global IoT agriculture market because of rising concern for ecologically responsible and sustainable agricultural methods, and the governments of developing nations have taken various steps to promote the use of IoT agricultural techniques.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 23.0 Bn |
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Revenue Forecast In 2034 |
USD 78.8 Bn |
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Growth Rate CAGR |
CAGR of 13.2% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Component, By Application and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
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. and OSRAM GmbH |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
IoT in the Agriculture Market- By Component
IoT in the Agriculture Market- By Application
IoT in the Agriculture Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
