Global Internet of Things in precision agriculture market growth is driven by rising adoption of IoT and wireless sensing technologies in the agriculture sector. IoT devices allow farmers to remotely monitor soil conditions, weather, livestock activities, inventory levels and various other parameters. The data collected from these devices provides meaningful insights to farmers to optimize usage of resources like water, fertilizers and take appropriate actions. Furthermore, precision agriculture supported by IoT improve crop yields and quality while minimizing production costs and wastage. With growing global population and challenge of feeding billions, innovative IoT solutions are helping maximize agricultural output in a sustainable manner.

Market Dynamics:

 Global Internet of Things  in precision agriculture market growth is driven by factors like growing focus on maximizing crop yields to meet rising global food demand, cost benefits of optimized usage of resources supported by real-time data analysis, increasing government initiatives to support adoption of smart farming techniques and multi functionality of IoT devices in agriculture. However, high initial investments and technology implementation challenges in remote areas can hamper the market growth. Ongoing innovations expanding application scope of IoT in areas like livestock monitoring and smart greenhouses can offer  significant opportunities for key market players in the near future.

Key features of the study:

- This report provides in-depth analysis of the global Internet of Things in precision agriculture market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global Internet of Things in precision agriculture market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Ag Leader Technology, AgJunction, Inc., AKVA Group ASA, AeroFarms, AmHydro, AGRIVI, Cisco Systems, Inc., Climate LLC, Connecterra B.V., Deere & Company, Eruvaka Technologies, Heliospectra AB, Hitachi, Ltd., and IBM

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- Global Internet of Things in precision agriculture market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation:

• By Component
• • Hardware
  • Software
  • Services
•  By System
• • Sensing System
  • Communication System
  • Cloud Computing
  • Data Management System
•  By Application
• • Weather Tracking and Forecasting
  • Yield Monitoring and Farm Mapping
  • Crop Scouting
  • Irrigation Management
  • Others
• By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
• • Ag Leader Technology
  • AgJunction, Inc.
  • AKVA Group ASA
  • AeroFarms
  • AmHydro
  • AGRIVI
  • Cisco Systems, Inc.
  • Climate LLC
  • Connecterra B.V.
  • Deere & Company
  • Eruvaka Technologies
  • Heliospectra AB
  • Hitachi, Ltd.
  • IBM