Agricultural IoT Market Report: Trends, Forecasts, and Competitive Analysis until 2030
Lucintel
Due to cost reduction and technological development of farm automation machinery, small-scale farms will achieve the highest growth during the forecast period.
The future of the global agricultural IoT market is seen as promising, with business opportunities in precision agriculture, precision livestock farming, precision aquaculture, precision forestry, and the smart greenhouse market. The global agricultural IoT market is estimated to reach \$21.9 billion by 2030, with a compound annual growth rate of 9.5% from 2024 to 2030. The main driving factors for this market include the increasing adoption of Variable Rate Technology (VRT), the growing use of the Internet of Things (IoT) and artificial intelligence (AI) by farmers and producers, and government support for the practice of precision agriculture. This report provides a detailed analysis of the agricultural IoT market, including forecasts by hardware type, farm type, farm production planning stage, application, and region. It also discusses the strategies and challenges of key market players in detail.
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Publisher: Lucintel Publication Month: July 2024 Report Language: English *For more details, please visit our website or refer to the sample materials.
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