The world is not on its track to achieve sustainable development goal 2 of Zero Hunger. Until 2015, there was a steady decline in people who starved and suffered from undernourishment. However, the numbers began to increase again in 2015.

Several technologies like the Internet of Things (IoT), artificial intelligence (AI), robotics, data analytics, vertical farming, automation, and drones are being introduced into the agriculture sector to accelerate development and improve the agriculture scenario.

In this blog, we will discuss the role of IoT technology in agriculture.

The Internet of Things (IoT) is a trend within the digitalization of agriculture that allows for mass data exchange between both devices and people. IoT enables us to extract and transfer information generated by agricultural machinery to analyze it and make informed decisions.

IoT has been introduced in farming for a variety of reasons. The technology is being used to increase the quality and quantity of crops. Deployment of technology has resulted in the better execution of agricultural activities such as planting, growing, harvesting, checking crops, and others. The use of sensor systems, artificial intelligence (AI), and drones provides farmers with an easier way to control their produce on the field.

IoT allows devices with sensors to communicate and interact with each other over the internet. In the agricultural sector, various sensors can monitor and supervise everyday objects like tractors, pumps, sheds, and weather stations in the agricultural sector.

IoT provides farmers with the perfect platform that enables them to make their farms smarter, more efficient, and sustainable. This ultimately allows them to focus on other aspects of their business, such as growing more varieties and harvesting more produce.

Adopting IoT-based agricultural techniques will likely provide impetus to countries with less agrarian production due to adverse climatic conditions and low arable land and help reinvent their agricultural sector.

The global IoT in agriculture market is expected to grow more in the coming years owing to increasing emphasis on alternative and vertical farming and rising government initiatives globally for uplifting the global agricultural industry.

IoT in Agriculture Market Drivers and Challenges

IoT development in agriculture is expected to resolve poverty and help the world achieve the Zero Hunger sustainable development goal by 2030. Following are some of the market drivers and challenges for the IoT in agriculture market:

Market Drivers for IoT in Agriculture Market:

1. Rapid urbanization
2. Increased implementation of modern technologies in agriculture
3. Complexities in data-driven farming
4. Demand for greater food production
5. Economic need for precision agriculture
6. Government initiatives
7. Increasing interest of key stakeholders
8. Greater investment opportunities

Market Challenges for IoT in Agriculture Market:

1. Lack of proper infrastructure, including roads, connectivity, and internet
2. Cybersecurity issues
3. Greater initial investments
4. Reluctance toward adoption of technology and lack of technical awareness

The pace at which IoT technology is making its way through agriculture will overpower the challenges and lead us toward a better future.

IoT Developments in Agriculture Industry and Future Trends

The global IoT in agriculture market was valued at $21.99 billion in 2021, which is expected to grow at a CAGR of 10.1% and reach $35.55 billion by 2026.

With recent advancements in the industry, numerous companies are enhancing their product portfolios by establishing a presence in data acquisition, agricultural robotics, and analytic services. The potential opportunities in these sectors are widening, with innovative technologies being presented every day that promote sustainable practices all across agriculture.

The COVID-19 pandemic has caused all kinds of problems for businesses globally. The outbreak has led to economic instability and a decline in global growth. The agricultural sector also witnessed a direct impact of the pandemic. However, the pandemic favored IoT adoption and led to an increased usage of sensing technology within the agricultural sector. COVID-19 has severely limited human mobility, thereby increasing the traction and adoption of industrial sensors that track goods and monitor livestock movement.

These sensor technologies form the crux of IoT-based development as these sensors aid in measuring various factors associated with the production process, such as soil moisture, nutrients in the soil, weed density, and solar radiation.

Final Words

The recent rise of technology-driven farming has led to a higher prevalence of precision crop farming techniques and equipment. This includes the widespread adoption of smartphones, high-speed internet, affordable satellite positioning, and imagery.

With the rising popularity of IoT integration in agriculture, the market is expected to witness significant growth over the coming years. Additionally, IoT, drones, machine learning, and AI are now being used to scan various areas during farming to assess and measure crop health conditions.

All this information would help farmers provide better yields that don’t require large amounts of pesticides/insecticides, thereby allowing the farmers to save money and instilling credibility among consumers regarding the food they consume.

BIS Research Agritech Team

BIS Research’s agritech team focuses on Agri machinery tools, precision agriculture technologies, farm management and equipment, and irrigation technologies.

One of the key highlights of our market intelligence solution is the Deep Tech M-A-P™ approach. M-A-P™ includes Market, Application, and Product.

Clients at BIS Research can choose from various services, including syndicated research reports, custom research, expert consultations, individually or in any combination of the three based on their requirements.

In our recent global IoT in agriculture market report, you get details and answers to the following questions:

1. Estimated market size and revenue of Global IoT agriculture market.
2. CAGR of the market for the forecast period 2021-2026.
3. Key trends, market drivers, and opportunities in IoT in the agriculture market.
4. Challenges in IoT in the agriculture market
5. The competitive strength of top Agriculture IoT companies: analysis of recent developments, product offerings, regional presence, and more
6. Revenue forecast and market coverage of the industry
7. Revenue of each segment of the global IoT in the agriculture market
8. Growth of systems including equipment: sensing, communication, cloud computing, data management systems
9. Growth in applications segment: precision crop farming, livestock monitoring, indoor farming, aquaculture, and more
10. Top stakeholders and their roles in the global IoT in the agriculture market
11. Analysis of regulatory landscape across different regions for IoT in agriculture and equipment

Read more about the global IoT in Agriculture market in our report. Request a sample here.