Demand of IoT in Agriculture Market Estimated to Reach USD 34.81 Billion in 2030
- Publish Date: May 12, 2021
IoT For All
- Publish Date: May 12, 2021
Research Overview
IoT integrates technically advanced tools, frameworks, devices, and solutions in the IoT-based agricultural sector to improve operational performance, optimize production and reduce energy waste through real-time farm data collection, data storage, data evaluation, and system management creation. The weather, humidity, plant health, mineral conditions, chemical implementations, the prevalence of pests, and many more can be converted into huge data sets, which enable data analytics engineers to generate understanding into the farm with different coarseness levels using smart technologies. Agricultural production has to be increased to meet the world's growing demand for food. The growing proliferation of the internet and the deployment of technological solutions are anticipated to accelerate the overall development of IoT in the agriculture industry. The government is also actively engaged in awareness-raising projects and activities that boost agricultural production.
The Sr. Research Analyst, Akash Naithani from FATPOS Global Research and Consulting suggest that global IoT in Agriculture Market is estimated to grow from USD 14.5 billion in 2019 to USD 34.81 billion in 2030 with a CAGR of 12.55%.
Growth in the smart agriculture market is driven by factors such as increasing pressure on the food supply system due to the rapidly growing population, rising use of modern technologies such as drones in agricultural holdings, rising income levels, and demand for protein-rich aqua-food, and increasing emphasis on reducing management costs. Moreover, it is estimated that the global IoT in the agriculture market will expand due to reduced technology costs as a result of continued research and development activities in IoT and initiatives by diverse nations’ governments around the world to increase agricultural produce and quality. However, high technological costs associated and insufficient technical knowledge and skills amongst farmers are projected to hamper the market growth to a particular level. Nonetheless, a rise in smartphone users and internet usage among many farmers increases awareness of the latest agricultural market trends that are supposed to propel market growth.
Download a Free Research Report Brochure for More Details: https://www.fatposglobal.com/free-broucher-193
For More Details, Read Details Report Here: https://www.fatposglobal.com/reports/iot-in-agriculture-market/193
About Us: Fatpos Global stands for “Failures Are The Pillar Of Success”. We are a rapidly-growing global management consulting, advisory, and market research services provider that aims to aid businesses with bold decisions that help them embrace change for their sustainable growth. With the help of our experts and industry veterans and their years of expertise across different industry verticals, we aid businesses with solutions that help in their efficient decision making and Developing executable strategies.
Contact Us: FATPOS Global Research & Consulting United Kingdom 275 New North Road, Islington Suite 1275 London, N1 7AA, UK Ph: +44 (208) 1235555 Email: [email protected] Web: www.fatposglobal.com
New Podcast Episode
Related News
February 4, 2025
January 30, 2025
January 23, 2025