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Global IoT Market in Smart Farming 2017-2021

Global IoT Market in Smart Farming 2017-2021

About IoT Market in Smart Farming

Internet of things (IoT) refers to automated networks of computers, devices, and sensors that can process their own data. These Internet-connected systems gather data and communicate with external processes via onboard sensors, impacting businesses in every industry, including agriculture. The development in the technology of telecommunication devices and IoT, with the support of wireless sensors, is providing the growth momentum for the global IoT market in smart farming. The market is primarily growing in developed countries like the US, Japan, the UK and Germany due to limited farmlands and the need for maximum productivity. In developing countries like China, India, Indonesia, Malaysia, Australia, Brazil, Mexico, Poland, South Africa, and Spain, the market is expected to grow at a linear growth rate. IoT devices are being deployed in farm fields for monitoring the condition of moisture, weather, temperature, growth, and acidity. These devices and sensors are connected to the gateways, and the data is stored in the cloud and shared to the systems. The growth in cloud computing is expected to drive the market during the forecast period.

Technavio’s analysts forecast the global IoT market in smart farming to grow at a CAGR of 10.94% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global IoT market in smart farming for 2017-2021. To calculate the market size, the report considers the sales and services market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global IoT Market in Smart Farming 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Cisco
  • IBM
  • KaaIoT Technologies
  • Oracle
  • Trimble
Other prominent vendors
  • Virtus Nutrition
  •  John Deere
  •  Precision Planting
  • Accenture
  • AGCO
  • Auroras
  • CEMA
  • DigiReach
  • Libelium
  • Link Labs
  • Mouser Electronics
  • Postscapes
  • Pycno
  • SemiosBio Technologies
  • Senix
  • Senseye
  • Sensolus
  • SmartFarming
  • Softweb Solutions
  • Solution Analysts
  • Topcon Positioning Systems
Market driver
  • Reduction in cost of sensors
  • For a full, detailed list, view our report
Market challenge
  • High initial capital cost for IoT integration in smart farming
  • For a full, detailed list, view our report
Market trend
  • Big data in smart farming
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global IoT Market in Smart Farming 2017-2021

Technavio recognizes the following companies as the key players in the global IoT market in smart farming: Cisco, IBM, KaaIoT Technologies, Oracle, and Trimble

Other Prominent Vendors in the market are: Virtus Nutrition, John Deere, Precision Planting, Accenture, AGCO, Auroras, CEMA, DigiReach, Libelium, Link Labs, Mouser Electronics, Postscapes, Pycno, SemiosBio Technologies, Senix, Senseye, Sensolus, SmartFarming, Softweb Solutions, Solution Analysts, and Topcon Positioning Systems.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Big data in smart farming. Big data in smart farming is gaining growth momentum in the agricultural industry. The improvement in wireless in-field communication, functional safety, and repair and maintenance information in order to realize unified interfaces provides opportunities for the adoption of big data in smart farming techniques. Big data is one of the key data capturing tools for better control of data from agricultural operations. The data related to the environment, digital maps of land surfaces, farm management, and machine data collectively serves smart farming.”

According to the report, one of the major drivers for this market is Reduction in cost of sensors. The increase in the adoption of wired and wireless sensors in the market is mainly driven by the reduction in costs. The development of communication technologies like 4G also supports the adoption of sensors in smart farming practices. The installation cost is being reduced due to technological advances and easy assembling options provided by sensor manufactures. The cost of sensors has continued to reduce, which indicates that the competition is increasing and hardware providers are looking forward to offering low-cost sensors. The competitive scenario prevailing among the major manufacturers of sensors as well as service providers is increasing, which will have a positive impact to the increasing adoption of smart farming.

Further, the report states that one of the major factors hindering the growth of this market is High initial capital cost for IoT integration in smart farming. The global IoT market in smart farming is growing with the development of smart solutions. The high initial capital and other service costs that involve installation and maintenance of hardware and software can lead to slow growth in the adoption of IoT in smart farming. IoT integration costs are considerably high, and the installation requires a large initial one-time payment. The cost of implementation and services related to IoT systems is greater than the costs saved by using the technology. The cost of data analytics and other related services offered by start-ups as well as leading vendors is increasing. Companies and service providers generally add service charges that are not affordable by farmers; this will affect the investments by the farmers for the implementation of IoT in smart farming.

Companies Mentioned

Cisco, IBM, KaaIoT Technologies, Oracle, and Trimble, Virtus Nutrition, John Deere, Precision Planting, Accenture, AGCO, Auroras, CEMA, DigiReach, Libelium, Link Labs, Mouser Electronics, Postscapes, Pycno, SemiosBio Technologies, Senix, Senseye, Sensolus, SmartFarming, Softweb Solutions, Solution Analysts, and Topcon Positioning Systems.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
  • Market landscape
    • Market overview
      • Table Market landscape
      • Table Important IoT solutions in smart farming
    • Market size and forecast
      • Table Global IoT market in smart farming 2016-2021 ($ billions)
      • Table Benefits of IoT in smart farming
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Market overview
      • Table Application segmentation of the global IoT market in smart farming in 2021 (% share)
    • Global IoT market in smart farming by water supply management
      • Table Global IoT market in smart farming by water supply management 2016-2021 ($ billions)
    • Global IoT market in smart farming by precision agriculture
      • Table Global IoT market in smart farming by precision agriculture 2016-2021 ($ billions)
    • Global IoT market in smart farming by IPM/C
      • Table Global IoT market in smart farming by IPM/C 2016-2021 ($ billions)
      • Table Operations of IPM/C
    • Global IoT market in smart farming by other applications
      • Table Global IoT market in smart farming by other applications 2016-2021 ($ billions)
  • Market segmentation by product
    • Market overview
      • Table Product segmentation of the global IoT market in smart farming in 2021 (% share)
    • Global IoT market in smart farming by hardware products
      • Table Global IoT market in smart farming by hardware products 2016-2021 ($ billions)
    • Global IoT market in smart farming by software products
      • Table Global IoT market in smart farming by software products 2016-2021 ($ billions)
    • Global IoT market in smart farming by services
      • Table Global IoT market in smart farming by services 2016-2021 ($ billions)
  • Regional landscape
    • Geographical segmentation
      • Table Geographical segmentation of global IoT market in smart farming 2016-2021 (% share)
    • Regional comparison
      • Table Regional comparison
    • Americas – Market size and forecast
      • Table Americas – Market size and forecast 2016-2021 ($ billions)
      • Table Americas – Year-over-year growth 2017-2021
      • Table Top 3 countries in Americas
    • APAC – Market size and forecast
      • Table APAC – Market size and forecast 2016-2021 ($ billions)
      • Table APAC – Year-over-year growth 2017-2021
      • Table Top 3 countries in APAC
    • EMEA – Market size and forecast
      • Table EMEA – Market size and forecast 2016-2021 ($ billions)
      • Table EMEA – Year-over-year growth 2017-2021
      • Table Top 3 countries in EMEA
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global population growth
    • Market challenges
  • Market trends
    • Big data in smart farming
    • Predictive analytics in smart farming
      • Table Benefits of predictive analytics in smart farming
    • Increasing smart farms in developing economies
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Cisco
      • Table Cisco Systems: Business segments
      • Table Cisco Systems: Products and Services portfolio
    • IBM
      • Table IBM: Product segments
      • Table IBM: Product portfolio
    • KaaIoT Technologies
      • Table KaaIoT Technologies: Industry segments
      • Table KaaIoT Technologies: Products and services portfolio
    • Oracle
      • Table Oracle: Product segments
      • Table Oracle: Product portfolio
    • Trimble
      • Table Trimble: Product segments for agriculture industry
      • Table Trimble: Product portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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