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Internet of Things (IoT) in agriculture market is expected to explode over the period 2016-2024



Application of robotics technology and GPS enabled devices in farming is revolutionizing the agriculture sector. In U.S., over 80% of farmers have already adopted GPS technologies with computer imaging for agriculture machinery management and livestock monitoring. High adoption of connected solutions in farms is likely to fuel the expansion of IoT in agriculture market in upcoming 5-6 years. Global IoT in agriculture market is segmented based on components such as hardware, software and platform. Among these segments, hardware is the dominating segment owing to the increasing number of connected devices. Hardware for IoT in agriculture market accounted for 66% revenue share of global IoT in agriculture market in 2015. However, platform section is projected to experience notable growth due to rising R&D spending on implementation of IoT based solutions. Connectivity/M2M Platforms market is the dominating segment and valued USD 0.22 billion in 2016 and is anticipated to reach USD 1.63 billion by the end of 2024.
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Market Segmentation
Global IoT in Agriculture Market is categorized on the following basis:
• Based on Components
o Hardware
? Drones
? Sensors
? RFID Tags
? Others(Transmitters, Sprinklers)
o Software
? Data Management Software
? Network Management Software
? Security Software
? Remote Monitoring Software
? Real Time Streaming Analysis Software
o Platforms
? Connectivity/M2M Platforms
? Infrastructure-as-a-Service (IaaS) Backend Platforms
? Hardware specific software Platforms
? Consumer/Enterprise Software Extension Platforms
• Based on Geography
o North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
o Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
o Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
o Rest of World {Market Size (USD Billion), Growth Analysis (%) and Adoption Rate (%)}
Based on geography, Asia-Pacific region is the fastest growing region for IoT in agriculture market and is expected to witness remarkable growth owing to huge implementation of advance technologies for agriculture in countries such as China, Vietnam, Japan and India. Asia-Pacific IoT in agriculture market valued USD 0.47 billion in 2016 and is expected to reach over USD 2.0 billion in 2024.
“Global IoT in Agriculture Market Outlook 2024” contains detailed overview of the global IoT in agriculture market in terms of market segmentation by components.
Further, for the in-depth analysis, IoT in agriculture market research report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global IoT in agriculture market report also provides competitive outlook of some of the major players of global IoT in agriculture market which includes profiling of companies such as IBM Corporation, ThingWorx, John Deere & Company, Qualcomm Flight Platform, Agribiotix, Deepfield Robotics (Bosch), Topcon Positioning Systems, Inc., Raven Industries, Inc., SemiosBio Technologies Inc., AGCO Corporation, CNH Industrial, Lindsay Corporation, Trimble Navigation Ltd., Cisco Systems, Leica Geosystems, Trackit, Euravka, FluxFarm Inc. and Climate Corporation. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, IoT in agriculture market report represents comprehensive synopsis on the global IoT in agriculture market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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News Release: Internet of Things (IoT) in agriculture market is expected to explode over the period 2016-2024
Submitted on: November 09, 2017 12:31:17 PM
Submitted by: Steve blade
On behalf of: www.goldsteinresearch.com/report/global-iot-in-agriculture-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
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