IoT in Agriculture Market Growing Demand for Smart Farming Solutions Drives Market Growth 2028

The global IoT in agriculture market size is expected to reach USD 30.8 billion by 2028, registering a CAGR of 10.6% over the forecast period, according to the latest report by Reports and Data.Major factors driving market revenue growth are the growing demand for agricultural output, increasing penetration of Internet of Things (IoT) & Artificial Intelligence (AI) technologies in the farming sector, and increasing government support for adoption of latest agricultural technologies along with growing focus on livestock monitoring to enhance efficiency in farming.

Internet of Things plays a critical role in increasing agricultural productivity. IoT technologies can solve agricultural problems and maximise the quantity and quality of agricultural production by linking farms via a shared network and providing them with information sharing, storage, and review options. In agriculture, the Internet of Things (IoT) is combined with advanced technological tools, equipment, and solutions to increase operational performance and minimise energy waste. In IoT-based smart farming, a system is designed to monitor crop field and automate irrigation system using sensors such as light, temperature, and humidity.

According to the UN Food and Agriculture Organization, the world will need to produce 70% more food in 2050. The need to increase farm yield has become critical due to the exponential growth of global population, which is reducing agricultural lands and depleting limited natural resources. Lack of natural resources, such as fresh water and arable land, as well as declining yield trends in various staple crops have exacerbated the problem. Another stumbling block for the farming industry is the changing demographics of the workforce. Furthermore, farm labour has decreased in most of the countries. Owing to the shrinking agricultural workforce, the implementation of internet communication solutions in farming practises has accelerated in order to reduce the need for manual labour.

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The increasing global population and the strain on agricultural resources pose significant challenges for the farming industry. The UN Food and Agriculture Organization’s estimation that the world would need to generate 70% more food in 2050 highlights the urgency of addressing these issues.

One major concern is the diminishing availability of agricultural lands. As the population grows, more land is being converted for residential, industrial, and infrastructure purposes, leaving less space for farming. This situation puts pressure on farmers to maximize the productivity of the available land.

Another challenge is the depletion of scarce natural resources, such as fresh water and arable land. Water scarcity is a significant concern in many regions, and efficient water management practices need to be implemented to minimize waste and ensure sustainable irrigation. Additionally, soil degradation and erosion affect the quality and fertility of arable land, making it necessary to adopt sustainable land management practices to preserve soil health.

Declining yield patterns in staple crops further exacerbate the food production challenge. Factors such as climate change, pests, and diseases contribute to reduced crop yields. It becomes crucial to develop resilient crop varieties, implement effective pest and disease management strategies, and mitigate the impacts of climate change through adaptation and mitigation measures.

The changing composition of the agricultural workforce is another obstacle. Many young people are moving away from rural areas and seeking employment in urban centers. As a result, farm labor has decreased in many countries. To address this issue, the adoption of internet connectivity solutions in farming practices has gained momentum. Technologies such as precision agriculture, remote sensing, and Internet of Things (IoT) devices allow farmers to monitor and manage their fields more efficiently. These technologies help optimize resource allocation, automate tasks, and make data-driven decisions, reducing the reliance on manual labor.

some leading companies operating in the global IoT in Agriculture Market:

Deere & Company, Trimble, Raven Industries, AGCO Corporation (AGCO), AgJunction Inc. (AgJunction), DeLaval, GEA Farm Technology, Lely, Antelliq, AG Leader Technology (AG Leader), Tigercat, Ponsse, Komatsu Forest AB, Caterpillar, Treemetrics, Topcon Positioning Systems, and DICKEY-john Corporation.

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The global market is further segmented into type and application:

Offering Outlook (Revenue, USD Billion; 2018 – 2028)

  • Hardware
  • Software
  • Services

Agriculture Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Precision Farming
  • Precision Forestry
  • Livestock Monitoring
  • Fish Farm Monitoring
  • Smart Greenhouse
  • Others (Horticulture and orchids)

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Precision Farming Applications
  • Precision Forestry Applications
  • Livestock Monitoring Applications
  • Fish Farm Monitoring Applications
  • Smart Greenhouse Applications
  • Other Applications (Horticulture and orchids applications)

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Overall, the adoption of precision agriculture technologies and internet connectivity solutions can help farmers to achieve higher yields, reduce waste, and improve efficiency, which will be crucial in meeting the growing demand for food while conserving natural resources and mitigating climate change.

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