As per the survey by the World Bank, the farming industry is experiencing a sharp decline in agricultural land and labor. In addition to this, the depletion of natural resources such as fresh water and arable land and rapid growth of world population have further aggravated the need to develop smart farming solutions to meet the ever-increasing demand for food.
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The Internet of Things (IoT) technology has played a major role in digitalizing the agriculture industry. From the introduction of information and communication technologies (ICT) in 2008, to the integration of sensing and navigation systems in machines and equipment used in farms, IoT today is being incorporated in all large and small farm operations.
With the use of technologies such as sensors, cloud computing, radio frequency identification (RFID) tags, and data management software, IoT technologies assist in collecting data regarding crops, machines and inventory status, contribute in decision-making process, and help farmers increase their crop yields and reduce the cost of operations.
According to the market intelligence report published by BIS Research titled “Global IoT in Agriculture Market – Analysis and Forecast (2018-2023),” the global IoT in agriculture market is projected to grow at a CAGR of 14.15% during the forecast period from 2018 to 2023 and is expected to reach $28.65 billion by 2023.
Factors such as rising concern over food security and sustainability, substantial investments by governments, and the implementation of the cloud-based software systems along with automation and control and sensing systems are leveraging the growth of the market.
The growth of the market is not limited to developed countries but it can also be seen in developing countries such as China and India. The developing countries also seem to have realized the importance of advantages that the IoT technology offers and are rapidly adopting precision agriculture solutions. The study published by BIS Research examines the growth of the IoT in agriculture market for four prominent regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World.
The report on IoT in agriculture market also constitutes a detailed analysis of the various segments of the market. These include system, application, as well as region. The application segment highlights the major application areas of the market such as precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others.
With research institutes such as Centre for Excellence for IoT India and NASSCOM community focusing on identifying the benefits of IoT-based agriculture solutions and the introduction of agricultural drones and big data analytics, the IoT in agriculture market is expected to witness significant growth during the forecast period.
Request the Sample @ https://bisresearch.com/requestsample?id=583&type=download
The Internet of Things (IoT) technology has played a major role in digitalizing the agriculture industry. From the introduction of information and communication technologies (ICT) in 2008, to the integration of sensing and navigation systems in machines and equipment used in farms, IoT today is being incorporated in all large and small farm operations.
With the use of technologies such as sensors, cloud computing, radio frequency identification (RFID) tags, and data management software, IoT technologies assist in collecting data regarding crops, machines and inventory status, contribute in decision-making process, and help farmers increase their crop yields and reduce the cost of operations.
According to the market intelligence report published by BIS Research titled “Global IoT in Agriculture Market – Analysis and Forecast (2018-2023),” the global IoT in agriculture market is projected to grow at a CAGR of 14.15% during the forecast period from 2018 to 2023 and is expected to reach $28.65 billion by 2023.
Factors such as rising concern over food security and sustainability, substantial investments by governments, and the implementation of the cloud-based software systems along with automation and control and sensing systems are leveraging the growth of the market.
The growth of the market is not limited to developed countries but it can also be seen in developing countries such as China and India. The developing countries also seem to have realized the importance of advantages that the IoT technology offers and are rapidly adopting precision agriculture solutions. The study published by BIS Research examines the growth of the IoT in agriculture market for four prominent regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World.
The report on IoT in agriculture market also constitutes a detailed analysis of the various segments of the market. These include system, application, as well as region. The application segment highlights the major application areas of the market such as precision crop farming, livestock monitoring and management, indoor farming, aquaculture, and others.
With research institutes such as Centre for Excellence for IoT India and NASSCOM community focusing on identifying the benefits of IoT-based agriculture solutions and the introduction of agricultural drones and big data analytics, the IoT in agriculture market is expected to witness significant growth during the forecast period.
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