農業におけるIoTの世界市場 - 分析・予測 (センシングシステム・通信システム・クラウドコンピューティング・データ管理システム)：2018-2023年
Global IoT in Agriculture Market: Focus on Systems (Sensing, Communication, Cloud Computing, Data Management), Applications (Precision Crop Farming, Indoor Farming, Livestock Monitoring, Aquaculture) - Analysis and Forecast 2018-2023
|農業におけるIoTの世界市場 - 分析・予測 (センシングシステム・通信システム・クラウドコンピューティング・データ管理システム)：2018-2023年|
発行: BIS Research Inc.
ページ情報: 英文 228 Pages
Global IoT in Agriculture Market to Reach $28.65 Billion by 2023
With the exponential growth of world population, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. Limited availability of natural resources such as fresh water and arable land along with slowing yield trends in several staple crops, have further aggravated the problem. Another looming concern over the farming industry is the shifting structure of agricultural workforce. Moreover, agricultural labor in most of the countries has declined. As a result of the declining agricultural workforce, adoption of internet connectivity solutions in farming practices has been triggered, to reduce the need for manual labor.
To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions to the farming arena. These solutions are focused on helping farmers close the supply demand gap, by ensuring high yields, profitability, and protection of the environment. The approach of using IoT technology to ensure optimum application of resources to achieve high crop yields and reduce operational costs is called precision agriculture. IoT in agriculture technologies comprise specialized equipment, wireless connectivity, software and IT services.
The IoT in agriculture market research study offers a wide perspective on where the industry is heading toward. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report further includes a thorouh analysis of the impact of the Porter's five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the Global IoT in agriculture market by the players, research organizations, and government bodies.
Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific and Rest-of-the-World. Each region details the individual push-and-pull forces in addition to the key players from that region. Some of the prominent players in the Global IoT in agriculture market are AGCO Corporation, Deere & Company, and CNH Industrial, DeLaval, Afimilk, Allflex, and TeeJet Technologies, among others.
Over the last decade, the global agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices. Rising global population and high-income growth have resulted in growing concerns of food security across the world. Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems. One of the most disruptive technologies in the field of smart agriculture has been the internet of things (IoT) due to its increasing role in the field. Agriculture industry's interest in IoT based farming has been evolving rapidly with applicability in various verticals, such as crop farm management, livestock monitoring, indoor farming, and aquaculture. The advantages of the IoT technology for agriculture are wide-ranging from farmers to equipment manufacturers to internet service providers. Adoption of IoT technology in the farming industry results in increased agricultural productivity and sustainability.
The IoT technologies have completely transformed the agriculture sector by providing decision support systems, supported by real time data that is gathered by utilizing the most modern technologies. IoT in agriculture is an ecosystem comprising wide-ranging components. It enables the user to gain a multifaceted view of the farming operations and also contributes to decision making. IoT technologies actively assist in collecting data regarding crop and soil behavior, animal/cattle conditions & their locations, agricultural machines, and inventory status, among others, with the combination of different technologies such as sensors, cloud computing, RFID tags, and data management software, in one system.
With the rapid introduction of information and communication technologies (ICT) since 2008, the farming industry has been witnessing another revolutionary phase. Integration of sensing systems into farming equipment has led to the generation of large amounts of data that can be analyzed using software tools, providing farmers with valuable insights to promote yield growth. Moreover, incorporation of navigation systems into agricultural machinery and equipment has led to their precise movement and application in the field. Earlier, the use of IoT in agriculture was restricted to large farm operations that could invest in the IT infrastructure and other technology resources. However, with the rapid advancements in technology, the application of IoT in agriculture sector has gradually moved to farming cooperatives and small-scale farms, from 2013 to till now.
The IoT in agriculture market includes a wide array of systems, such as sensing, communication, cloud computing, and data management. Sensing systems encompass a broad range of systems including different sensors, GPS devices, and Radio Frequency Identification (RFID). Addition of sensing and navigation capabilities makes it even more promising. Site-specific farming and variable rate application are two of the major applications of IoT based solutions; and sensing and navigation components are two of the most critical contributors for its execution.
Major application areas of IoT in agriculture technologies include precision crop farming, livestock monitoring and management, indoor farming, and aquaculture, among others. Precision crop farming represents the most significant application in the market for the IoT based technologies. Precision crop farming has the capability to efficiently utilize water by finely matching irrigation inputs to yields in each area of a field. During the forecast period, application areas, such as aquaculture and indoor farming are expected to display the maximum growth, owing to the high possibilities of value addition in these application areas.
Livestock monitoring and management applications also present colossal market growth opportunities. With the globally growing demand for livestock products, innovative techniques and systems are employed to aid in the monitoring and management of herds. Automated infrastructure, livestock monitoring equipment, and various other management technologies have enabled livestock enterprises to manage large herds with reduced manual labor requirements and have ensured high productivity. These technologies have given rise to several livestock monitoring and management applications to simplify the complexities of herd management and improve performance.
The IoT in agriculture market is projected to grow from $xx billion in the year 2018 to $28.65 billion by 2023, growing at a CAGR of xx% from 2018 to 2023. Deployment of automation and control and sensing systems to steer the application of agricultural inputs is expected to augment the growth of the market. In emerging countries, the growth of the market is expected to be driven by rising awareness among the governments of different countries about the need of elevating farm produce while taking care of the environment. Furthermore, rising concerns over global food security and sustainability have led to extensive investments by governments of different countries in terms of initiatives and trade policies. The rapid market penetration of Internet of Things (IoT) technology in farming practices has led to the enhancement of agricultural productivity by minimizing manual labor and providing an efficient platform for proper data management of production inputs. Widespread implementation of the cloud-based software systems has fueled the market for IoT in agriculture by reducing risks and increasing overall production capacities.
The IoT in agriculture market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). North America is at the forefront of the global IoT in agriculture market, with high market penetration rate in the U.S., Mexico, and others, which are expected to display robust market growth in the coming five years.
North America, followed by the Europe region, generated the highest revenue in the IoT in agriculture market in 2017. The Europe market for IoT in agriculture technologies is significantly developed with major growth opportunities arising from countries in the Eastern Europe region. The increasing adaptability of modern technologies by farmers and the positive support from the government are also expected to augment the growth in the region. The fastest growth rate is expected from the Asia-Pacific and South America regions. Presence of key agricultural producing countries, such as China, India, Indonesia, Brazil, and Argentina, in Asia-Pacific and South America is estimated to boost the market for advanced farming techniques.
The IoT in agriculture market ecosystem comprises established agricultural OEMs, technology vendors, agri-input suppliers, and software and services providers. The rising interest in Internet of Things (IoT) amongst the agricultural machinery vendors, such as AGCO Corporation, Deere & Company, and CNH Industrial, has been a major trend in the market. Moreover, players including agri-input giants, such as The Climate Corporation, AGCO Corporation, DeLaval, Afimilk, Allflex, and TeeJet Technologies, among others are also focusing on incorporating data analytics and IoT based systems in their product offerings. The major IoT in technology vendors are Trimble Inc., Raven Industries, Topcon Positioning Systems, Hexagon Agriculture, Ag Leader Technology, and DICKEY John Corporation, among others.
The competitive landscape for the IoT in agriculture market demonstrates an inclination toward the companies that are adopting strategies such as partnerships and collaborations along with new product launches for introducing new technologies and enhance their existing product portfolio. The majority of the companies are launching new products actively to enhance their presence, while the relatively less adoptive strategies comprise business expansion and contracts. Moreover, major players operating in this industry are focusing on mergers and acquisition to maintain a strong hold on the market. Successful mergers and acquisitions among the companies across the value chain of the IoT industry can be seen as a major strategic move.
Precision Crop Farming