Market Research Future (MRFR), a reputed market research report seller, conducted study on the impact of IoT in agriculture. As per MRFR findings, the IoT in agriculture market is set to achieve USD 34.88 Bn at 13.6% CAGR by 2025.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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The IoT in the agriculture market study is based on component and application.
The component-based IoT in Agriculture market segments are system, software, and services. The system segments are fish farming systems, sensing and monitoring systems, livestock monitoring systems, smart greenhouse systems, automation and control systems, and others. The sensing and monitoring systems are water sensors, soil sensors, climate sensors, yield monitors, and others. The fish farming systems are sensors, GPS/GNSS, and others. The livestock monitoring systems are sensors, RFID tags and readers, control system, GPS, and others. The automation and control systems are irrigation controllers, flow and application control devices, GPS/GNSS systems, drones/UAVs, handheld mobile devices/handheld computers, guidance and steering, displays, and others.
The application-based Covid 19 IoT in Agriculture Market segments are precision crop farming, livestock monitoring, aquaculture, indoor farming, water supply management, integrated pest management, and others. Precision crop farming, livestock monitoring, indoor farming, integrated pest management, aquaculture, and water supply management are prominent applications of IoT in the agriculture sector. Optimization of output and retention of resources is the principle of predictive farming. The growing adoption of predictive farming technique can be attributed to the inclination of farmers toward sustainable solutions.
A well-informed farmer on a vivid prediction of climate, soil profile, and seed type can aid him decide effective and failsafe farming regime. This can benefit the entire farming ecosystem as the losses due to climate change can be controlled. Moreover, waste management is a possibility here. However, there other viable agricultural waste reduction and management technique are available. Irrigation is an active requirement for agriculture. The deployment of water supply management can curb water wastage, and reduce chances of clogging and over hydration of the arable land. Asia Pacific is a fertile region and agriculture is a major occupation. Furthermore, the presence of firm technical base and can support the adoption of IoT in agriculture. The high concentration of agriculture supporting IoT solution developers in North America can gain high profits of the regional market.
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