Dublin, Dec. 22, 2023 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Agriculture - Thematic intelligence" report has been added to ResearchAndMarkets.com's offering.
The IoT market is expected to grow to $1.2 trillion by 2027. The IoT market is separated into three different sections: IoT hardware, IoT services, and IoT software, with all three having similar market revenue forecasts. In 2023, the services-based IoT sector was the smallest, contributing around $197 billion in revenue, while hardware-based IoT contributed the most, at $258 billion. The entire IoT technology is forecast to grow at a CAGR of 15.05% between the years of 2022 to 2027 with IoT software expected to grow the most with a CAGR of 16.68%.
Smart farming refers to managing farms using modern information and communication technologies to increase the quantity and quality of products while optimizing the human labor required. IoT is at the center of smart farming innovations with sensors, drones, and data analytics all used to improve farmer productivity.
Key Highlights
Climate change is a major factor affecting agriculture industries today. While we accelerate towards exceeding the 1.5C target, sea levels are rising at 3.9mm (0.15 inches) per year, more than double the rate of the 20th century according to Yale Climate Connections.
There is also an increase in extreme weather events with rises in droughts, floods, and forest fires-all of which can be catastrophic to a farm. To minimize the risks of these events, the agriculture sector must invest in IoT and keep control of their farms during these events.
Scope
- Precision farming is an umbrella concept for IoT-based approaches that optimize farming inputs and outputs. It can empower farmers to precisely minimize inputs including fertilizer and irrigation waste and monitor disease outbreaks while optimizing farm productivity. The data that is collected from the advanced sensors around the farms can then be analyzed to allow farmers to make intelligent decisions and drive further revenue while also minimizing costs.
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Key Topics Covered:
1. Executive Summary
2. Players
3. Consumer Challenges
4. The Impact of AI on Consumer
5. Case Studies
6. AI Timeline
7. Market Size and Growth Forecasts
8. Signals
8.1. Mergers and acquisitions
8.2. Patent trends
8.3. Company filings trends
8.4. Hiring trends
8.5. Social media trends
9. AI Value Chain
9.1. Hardware
9.2. Data management
9.3. Foundational AI
9.4. Advanced AI capabilities
9.5. Delivery
10. Companies
11. Sector Scorecards
A selection of companies mentioned in this report includes
- AGCO
- Bayer
- Bunge
- John Deere
- Kubota
- Syngenta
- 30 MHZ
- Calian Agriculture
- Hatsun
- Agro Products
- Rantizo
- Veridapt
For more information about this report visit https://www.researchandmarkets.com/r/76tg4g
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