Applications of Agriculture to Dominate the Global IOT Market by 2024 - PowerPoint PPT Presentation

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Applications of Agriculture to Dominate the Global IOT Market by 2024

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The agriculture IOT market is expected to grow from USD 12.7 billion in 2019 to USD 20.9 billion by 2024, at a CAGR of 10.4% from 2019 to 2024. A few key factors driving the growth of this market are increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) technology by farmers and growers, focus on livestock monitoring and disease detection to improve farming efficiency, and rising demand for agricultural production owing to increasing population. – PowerPoint PPT presentation

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Title: Applications of Agriculture to Dominate the Global IOT Market by 2024


1
MarketsandMarkets Presents

Applications of Agriculture to Dominate the
Global IOT Market by 2024 Agriculture IoT Market
by Offering (Hardware, Software, Services),
Application (Precision Farming, Precision
Forestry, Livestock Monitoring, Fish Farm
Monitoring and Smart Greenhouse), Application,
and Geography - Global Forecast to 2024
https//www.marketsandmarkets.com/Market-Reports
/iot-in-agriculture-market-199564903.html
2
The agriculture IOT market is expected to grow
from USD 12.7 billion in 2019 to USD 20.9 billion
by 2024, at a CAGR of 10.4 from 2019 to 2024. A
few key factors driving the growth of this market
are increasing adoption of Internet of Things
(IoT) and Artificial Intelligence (AI) technology
by farmers and growers, focus on livestock
monitoring and disease detection to improve
farming efficiency, and rising demand for
agricultural production owing to increasing
population. The agriculture IoT market is
getting impacted by technological trends such as
big data analytics, cloud platforms, and mobile
computing. Extensive data helps farmers or
growers in making prompt and productive
decisions. Big data analytics involves current
and historical information on weather forecast,
crop features, and soil characteristics, among
others. Cloud platforms enable real-time
monitoring and guidance in agricultural
production. The information exchange between
farmers and agricultural enterprises is smooth
and hassle-free. Mobile computing involves the
connection of hardware devices and software
services to collect information about the field.
Companies such as Trimble Navigation Limited (US)
and Deere Company (US) provide farm management
applications. Browse 106 market data Tables
and 42 Figures spread through 204 Pages and
in-depth TOC on "Agriculture IoT Market - Global
Forecast to 2024"
3
The agriculture IoT market for services is
expected to grow at the highest CAGR during the
forecast period. The increasing demand for
managed services and the rising installations of
smart agriculture devices worldwide are the
primary reasons behind the high growth of this
market. Agriculture IoT service providers mainly
include companies that provide farm operation
services, data services, and farm data analytics
to software companies or directly to farmers.
Most companies or farmers/agronomists outsource
the responsibility of handling operations to
managed service providers. These service
providers then take care of the majority of
operations and provide suggestions to farmers to
enhance production. Ask PDF Brochure https//www
.marketsandmarkets.com/pdfdownloadNew.asp?id19956
4903 The agriculture IoT market for navigation
systems is expected to grow at the highest CAGR
during the forecast period. A drone well equipped
with a navigation system and an autopilot system,
including a camera, gives plenty of aerial
options. For aerial photogrammetry and 3D
mapping, it is essential to deploy a drone with a
navigation system, an autopilot flight system,
and a camera.
4
The agriculture IoT market for fish farm
monitoring is expected to grow at the highest
CAGR during the forecast period. The increasing
demand for various hardware devices, such as
GPS/GNSS, and different types of sensors is
contributing to the growth of the agriculture IoT
market for fish farming. Drones are used as a
fisheries assessment tool by natural resource
agencies in Texas and Nebraska in the US. These
agencies have used fixed-wing drones to conduct
in-channel habitat mapping in low waters in the
Guadalupe (Texas) and Niobrara (Nebraska)
rivers. Request Free Sample Pages https//www.ma
rketsandmarkets.com/requestsampleNew.asp?id199564
903 The agriculture IoT market in APAC is
expected to grow at the highest CAGR during the
forecast period. Agriculture IoT techniques are
expected to be adopted at a high rate in APAC as
this region consists of emerging countries such
as India, China, and countries in South East
Asia. Rapidly growing population, availability of
arable land, and strong government support for
farmers through subsidies are the major factors
driving the adoption of agriculture IoT
technologies in APAC. Opportunities for the
growth of the market include the advent of big
data in agriculture farm, integration of
smartphones with hardware devices and software
applications and rise in use of unmanned aerial
vehicles (UAVs)/drones in precision farming.
5
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6
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