Need for Over 70% More Food Globally by 2050 is Driving Robust Demand

DUBLIN, June 17, 2022 /PRNewswire/ — The “IoT in Agriculture Market by Technology, Automation (Robots, Drones, and Smart Equipment), Sensor Types, Hardware, Software and Solutions 2022 – 2027” report has been added to ResearchAndMarkets.com’s offering.

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This report assesses the technologies, companies, and solutions for IoT in agriculture. The report evaluates the overall marketplace and provides forecasts for sensors (and other devices), services, solutions, and data analytics globally, and regionally for the period 2022 to 2027. Forecasts include precision agriculture, indoor farming, livestock, and fisheries.

There is currently an acute need for greater agricultural efficiency and effectiveness in the week of the recent pandemic. Many agricultural commodities such as corn, soy, and cotton are in backwardation as of the publication of this report, which means that the current price of an underlying asset is higher than prices trading in the futures market. This is atypical for commodities as inflation generally tends to make their prices increase over time.

However, recent material and supply chain related shortages, coupled with an uptick in economic activity, has led to unbalanced supply and demand dynamics. This is reflected in the Bloomberg Agriculture Spot Index, which measures the price movements of agricultural commodities, which has risen from 227.38 on May 15th, 2020 to a high of 386.47 on April 23rd, 2021representing a 70% increase during that time period.

While the aforementioned commodity price and supply challenges represent a more near-term acute issue, there remain longer-term structural market drivers for improvements in agricultural technologies. As the world population grows, so does the demand for food. The UN estimates that Earth will need to produce 70% more food by 2050 to support these growing populations. Complicating matters, natural resources are slowly being depleted and usable agricultural land is shrinking.

There is an ever-increasing need for intelligent and highly scalable agriculture solutions. Increasingly, the agriculture business is becoming controlled by companies that are not conventional agriculture experts. The publisher sees a shift from conventional agriculture to farm management. With this shift, software developers and predictive data analytics companies will take control of end-to-end agricultural operations.

Agriculture has transformed in the last few decades from small to medium farming operations to highly industrialized, commercial farming that is concentrated among a few large corporations. However, as various Internet of Things (IoT) technologies mature beyond the R&D phase and go into general production, costs for everything from drones/UAVs to sensors will continually decrease, making connected agriculture more accessible to smaller farms and third world countries.

With this agricultural transformation, farming operations are increasingly a highly mechanized and computer-driven operation. This allows corporations to treat agriculture like manufacturing in the sense that measurements, data, and control is very important to manage costs, maximize yields, and boost profits.

This shift in managing agricultural operations will bring various benefits to farming and livestock management, including enhanced crop quality and quantity, improved use of resources and farm equipment, real-time monitoring of farms, animals, and machines, automated irrigation systems, fertilizer spraying, and pest control.

The implementation of combined AI and IoT solutions for agriculture will provide a substantial lift for both operational efficiency and effectiveness. These Artificial Intelligence of Things (AIoT) solutions will transform the interpretation and use of IoT data from a largely human-based activity to one that is primarily machine-oriented.

This will lead to fewer errors and savings in operational costs such as data analytics visualization for the sake of human viewing, interpretation, and decision-making. For example, the Artificial Intelligence of Things (AIoT) Solutions: AIoT Market by Application, Service, and Industry Vertical 2022 – 2027 report Identifies a $2.38 billion global opportunity for AIoT solutions in agricultural

Select Report Findings:

  • The largest IoTAg application by revenue is monitoring, which will reach $7.31 billion globally by 2027

  • The fastest growing IoT solution area by revenue is automation, which will grow at a CAGR of 64.1% through 2027

  • The market for smart sensor systems will reach $2.93 billion globally by 2027, growing at a CAGR of 67.1% through 2027

  • The global market for agriculture drones will reach $1.39 billion by 2027 with an average price of $1,250 per unit for UAVs

  • Intelligent solutions for aquaculture operations will $1.2 billion globally by 2027, which we see as a significantly underserved market

  • The implementation of combined AI and IoT solutions for agriculture will provide a substantial lift for both operational efficiency and effectiveness monitoring alone.

Key Topics Covered:

1 Executive Summary

2 Overview
2.1 State of the Agriculture Industry
2.2 Smart Agriculture Market Outlook
2.3 Smart Agriculture Systems and Functionality

3 IoT in Agriculture Market Dynamics
3.1 IoT for Provides Farming Scalability
3.2 IoT in Agriculture Market Drivers
3.3 Integrated Artificial Intelligence of Things Solutions in Agriculture

4 IoT in Agriculture Market Analysis and Forecasts 2022 – 2027
4.1 Global IoT Agriculture Revenue by Application 2022 – 2027
4.2 Global IoT Agriculture Revenue by Segment 2022 – 2027
4.2.1 Global Intelligent Farm Equipment Market 2022 – 2027
4.2.2 Global Smart Sensors in Agriculture Market 2022 – 2027
4.2.3 Market by Smart Sensor Type for IoT in Agriculture 2022 – 2027
4.2.4 Global Agricultural Drone Market 2022 – 2027
4.2.5 Global Smart Farm Robot Market 2022 – 2027
4.2.6 Global Agriculture Software Solutions Market 2022 – 2027
4.3 Global IoT in Agriculture Solution Market 2022 – 2027
4.3.1 Global Revenue for IoT Precision Agriculture
4.3.2 Global Revenue for IoT Indoor Farming
4.3.3 Global Revenue for IoT Livestock Farming
4.3.4 Global Revenue for IoT Fisheries and Aquaculture
4.4 IoT in Agriculture Revenue by Region 2022 – 2027
4.4.1 North American Market for IoT in Agriculture
4.4.2 European Market for IoT in Agriculture
4.4.3 APAC Market for IoT in Agriculture
4.4.4 Rest of World Market for IoT in Agriculture
4.5 Global Managed Services in IoT Agriculture
4.6 Predictive Analytics and Artificial Intelligence in Smart Agriculture

5 IoT in Agriculture Vendor Analysis
5.1 Smart Agriculture Vendor Ecosystem
5.2 IoT in Agriculture Vendor Strategies
5.3 Select Smart Agriculture Solutions
5.3.1 Accenture
5.3.2 AgEagle
5.3.3 Cattle Watch
5.3.4 Monsanto (Bayer)
5.3.5 Decagon (METER Environment)
5.3.6 Deepfield Robotics (Bosch)
5.3.7 DroneDeploy
5.3.8 FarmersEdge
5.3.9 IBM
5.3.10 Euravka
5.3.11 FluxFarm Inc.
5.3.12 John Deere
5.3.13 Kaa Open Source IoT Platform
5.3.14 Libelium Comunicaciones Distribuidas SL
5.3.15 MTN
5.3.16 SWIM
5.3.17 SlantRange
5.3.18 Telit
5.3.19 PTC
5.3.20 TopCon
5.3.21 Intrinsyc Technologies Corp
5.3.22 Raven Industries
5.3.23 Semtech
5.3.24 trackit

6 Appendix One: IoT Data Analytics
6.1 IoT in Agriculture Data Analytics Market
6.2 IoT in Agriculture Data Analytics 2022 – 2027
6.3 IoT in Agriculture Opportunity Analysis

7 Appendix Two: Additional Company Analysis
7.1 AG Leader Technology
7.2 AGCO Corporation
7.3 AgJunction Inc.
7.4 Agribotix
7.5 Amber Agriculture
7.6 Antelliq Corporation
7.7 Arable
7.8 Atos
7.9 aWhere
7.10 Bext360
7.11 C2M
7.12 Caterpillar
7.13 Cisco Systems, Inc.
7.14 CNH Industrial
7.15 Connecterra
7.16 CropMetrics LLC
7.17 Decisive Farming
7.18 Deere and Company
7.19 Delaval, Inc.
7.20 Dickey John
7.21 E-peas
7.22 Everynet
7.23 Farmers Edge, Inc.
7.24 Fasal
7.25 GEA Farm Technology
7.26 Hitachi, Ltd
7.27 IBM
7.28 Intel Corporation
7.29 Komatsu Forest AB
7.30 Lely
7.31 Libelium
7.32 Lindsay Corporation
7.33 Monsanto
7.34 NTT DoCoMo
7.35 OnFarm Systems Inc.
7.36 Plenty
7.37 Ponsse
7.38 Precision Hawk
7.39 Pycom
7.40 Raven Industries, Inc.
7.41 Scriptr
7.42 SemiosBIO Technologies
7.43 Semtech Corporation
7.44 Skylo Technologies
7.45 SlantRange, Inc.
7.46 Spectrum Technologies, Inc.
7.47 SST Development Group Inc.
7.48 Swift Navigation
7.49 TeeJet Technologies
7.50 Telit
7.51 The Climate Corporation
7.52 Tigercat
7.53 Topcon Positioning Systems
7.54 Treemetrics
7.55 Trimble Inc.
7.56 UpTake Networks

For more information about this report visit https://www.researchandmarkets.com/r/ufflgk

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