Why IoT in agriculture is set to see ‘incredible’ growth until 2025
The use of IoT solutions in agriculture can bring in a revolution to the industry by enhancing productivity, minimising agriculture wastage, and overcoming climate related natural calamities, according to a new missive from Transparency Market Research.
Enhanced agricultural productivity implies a decline in the number of undernourished individuals, the count of which stands at 795 million between 2014 and 2016, as per the Food and Agriculture Organization data.
The need for IoT in the agricultural industry is driven by the need to monitor health and performance of livestock and the uncertainties in climate change, which negatively impacts agriculture production. However, the growth of IoT in agriculture market is restrained due to a lack connecting services in agriculture. It is anticipated that the IoT in agriculture market will witness incredible growth during 2025. The increasing use of internet and smartphones is anticipated to make significant growth opportunities for the IoT in agriculture market throughout the world.
The use of IoT in agriculture incorporates advanced technologies and solutions for real-time monitoring of agricultural fields via real-time collection and analysis of data. In addition, IoT can be used for several other agricultural tasks such as examining livestock, inventory management, soil monitoring, climate control, moisture monitoring, nutrient monitoring, crop scouting, yield monitoring, smart logistics and the list continues.
At a time when unfavourable weather conditions throughout the world are affecting production, integration of IoT is expected to show significant rise to surmount these issues. Cisco Systems, AGCO, Semios Technologies, SenseFly, DeLaval and Advanced Ag Solutions are among some of the leading providers of advanced agricultural IoT solutions.
Meanwhile, a new report from ReportLinker has projected that the IoT market will grow to $561.04 billion by 2022 from $170.57 billion in 2017, at a CAGR of 26.9%.
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