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LONDON, GREATER LONDON, UNITED KINGDOM, June 12, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034
The internet of things IoT in precision agriculture market size has experienced significant growth in recent years. It is projected to rise from $7.09 billion in 2024 to $8.48 billion in 2025, marking a compound annual growth rate CAGR of 19.5%. This growth in the historic period can be attributed to an increase in the adoption of global positioning system GPS technology, growing demand for yield monitoring, rising global food demand, government support for smart farming, and rising concerns over resource optimization.
What Is The Anticipated Growth Rate And Market Size Of The Global IoT In Precision Agriculture Market?
The IoT in precision agriculture market is anticipated to experience rapid growth in the coming years. It is projected to reach $17.25 billion by 2029 at a compound annual growth rate CAGR of 19.4%. The growth in the forecast period can be attributed to the rise in smart farming, expansion of cloud-based platforms, rising investment in agri-tech startups, demand for real-time farm data, and increasing use of autonomous farming equipment. Major trends in the forecast period include growth in drone-based crop monitoring, emergence of digital twin technology, a shift towards predictive analytics, adoption of blockchain for supply chain transparency, and rise of subscription-based farm management solutions.
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What Is Driving The Growth Of The Global IoT In Precision Agriculture Market?
The rising global food demand is expected to propel the growth of the IoT in precision agriculture market in the future. The global food demand is rising due to population growth, urbanization, and changing diets. Higher incomes are also leading to increasing consumption of resource-intensive foods. IoT in precision agriculture boosts food production by using smart sensors to monitor crops and resources efficiently, which leads to higher yields, less waste, and more sustainable farming to help meet global food demand.
Which Key Industry Players Are Behind The Growth Of The IoT In Precision Agriculture Market?
The key industry players operating in the IoT in precision agriculture market include Hitachi Ltd., International Business Machines Corporation IBM, Deere & Company, Cisco Systems Inc., Case New Holland Industrial CNHi N.V., AGCO Corporation, Mouser Electronics Inc., Trimble Inc., Topcon Corporation, Climate LLC, Sentera Inc., CropX Inc., AeroFarms Inc., Actility SA, Monnit Corporation, AgJunction Inc., Ag Leader Technology, AGRIVI Ltd., Heliospectra AB, Pycno Industries Inc., Davra Networks Limited, Farmonaut Technologies Pvt. Ltd.
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What Key Trends Are Impacting The Size Of The IoT In Precision Agriculture Market?
Major companies in the IoT in precision agriculture market are focusing on developing innovative products such as artificial intelligence AI integrated farm management platforms to improve real-time decision-making and resource optimization. AI-powered smart farm applications help farmers monitor crop health, soil conditions, and environmental factors, leading to more efficient and sustainable farming practices.
How is the IoT in Precision Agriculture Market Segmented?
The IoT in precision agriculture market report is segmented by:
1 Component: Hardware, Software, Services
2 System: Sensing System, Cloud Computing, Other Systems
3 Application: Weather Tracking And Forecasting, Yield Monitoring And Farm Mapping, Crop Scouting, Irrigation Management, Other Applications
And sub-segments of:
1 Hardware: Sensors, Drones, Global Positioning System GPS Devices, Smart Irrigation Systems, Control Systems, Cameras, Automation And Control Systems
2 Software: Farm Management Software, Data Analytics Software, Remote Monitoring Software, Predictive Modeling Software, Cloud-Based Software, Mapping Software
3 Services: System Integration Services, Managed Services, Professional Services, Consulting Services, Support And Maintenance Services, Connectivity Services
What Are The Regional Insights Into The Global IoT In Precision Agriculture Market?
North America was the largest region in the IoT in precision agriculture market in 2024. Asia-Pacific, however, is expected to be the fastest-growing region in the forecast period. The regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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