Global IoT In Agriculture- Market Analysis & Industry Forecast 2016-2024 by Goldstein Market Intelligence

Global IoT in Agriculture Market Outlook

Global IoT in Agriculture Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024

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Global IoT in Agriculture Market Outlook Global IoT in Agriculture Market Share(%), By Region-2016-2024

Global IoT in Agriculture Market Size USD (Billion). 2016-2024

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XX XX

XX% CAGR: (2016-2024)

XX XX

7.00 7.00 33.0 %%2016 0% 25.0 0% 28.0 0%

XX XX

Asia Pacific

m a S

2016e 2017e 2018f 2019f 2020f 2021f 2022f 2023f 2024f

Source: Goldstein Research

7.61% 10.87%

50.00%

27.17% Data Management S/W Sensors and Actuators

Security S/W Real Time Streaming Analytics S/W

Source: Goldstein Research

38.04%

16.30%

35.00%

IoT Platforms

Latin America

With XX% share in 2016, Tier-I region dominated the collective Global IoT market

Global IoT in Agriculture Market Global IoT in Agriculture Market Share (%), By Software-2016 Share(%), By Components-2016

IoT Devices

Europe

Source: Goldstein Research

market

15.00%

e l p North America

Middle East and Africa

IoT Devices accounted for the highest market share XX% in Global IoT in Agriculture

In 2016,

7.00 7.00 % % 32.00 % 26.00 2024 % 28.00 %

Source: Goldstein Research

Global IoT Market Share (%), By End Users- 2016

8.39% 10.09% 27.77% 7.89% XX%

12.79% 18.48% 13.39% Consumer Electronics Sector Network Management S/W Energy Sector

Transportation & Logistics Sector

Remote Monitoring S/WRetail Sector Others (Education Sector)

Healthcare Sector

Manufacturing Sector Agriculture Sector

Source: Goldstein Research

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Global IoT in Agriculture Market Outlook  In 2016, IoT devices dominated the market; IoT devices segment accounted for nearly XX% of the total IoT market and remaining XX% went for platforms and sensors & actuators. The main reason for this despaired share is due to the rising demand for IoT market trend owing to the ease of data management and real time monitoring.

Growing IT

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 The main connectivity requirements of agriculture IoT coverage and low costs of deployment or maintenance. Most applications, focusing on monitoring and data collection have however relatively low needs in terms of bandwidth and low latency. This makes technologies such as the legacy 2G network and LPWA technologies (LoRa, Sigfox) particularly suited for most current deployment.

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Technological Advancements

 As a result, if seen from the big market point of view, IoT devices demand is higher in consumer electronics followed by other transportation, manufacturing, energy, retail and healthcare facilities. Moreover, the rising IT expenditure in Global on the back of new industrial/commercial reforms and rising investment in IT and AI sector is expected to bolster the growth of IoT in Global

m a S

 The Industry 4.0 trend is seen as a transforming force that will deeply impact the industry. The trend is building on an array of digital technologies: Internet of Things, Big Data, Artificial Intelligence, and of digital practices: cooperation, mobility, open innovation.

 They imply a transformation of the production infrastructures: connected farms, new production equipment, connected tractors and machines. They will enable both an increased productivity and quality and environmental protection. But they also generate modifications in the value chain and business models with more emphasis on knowledge gathering, analysis and exchange.

Adoption Rate (%) of IoT Technology Europe North America

2016

XX %

2024

XX %

Growing Penetration of Smartphone

Declining cost of sensors

Asia-Pacific XX %

XX %

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Major Players Presence-Regional Analysis Key Findings Based On Major Industry Players •The acquisition of Cambridge Silicon Radio (CSR) by Qualcomm is anticipated to propel the company’s growth up to 10% by offering solutions for IoT market

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• Qualcomm has partnered with Philips in 2016, for the development of IoT Request Sample in healthcare industryReport • IBM has collaborated with University of Michigan and partnership with AT&T to provide unique and easier tools for their developers by merging cloud & Internet of Things (IoT) • Microsoft acquired Solair in 2016, to promote IoT business. Solair offers IoT in transportation, manufacturing, retail and food & beverage industry. • Cisco has invested USD XX million in Actility which is a low-power wide area networking (LPWAN) technology provider company to boost the Internet of Things platform • Cisco has announced to partnership with Microsoft in 2017 to offer solutions for hybrid IoT. Azure IoT Suite of Microsoft will be connecting with Cisco Fog deployments to remove the obstacles for critical IoT solutions • Cisco has invested huge amount in acquisition of largest cloud-related companies. In 2016, Cisco has acquired Jasper and AppDyanamics with a deal amount of USD XX billion and USD XX billion respectively to bring the digital transformation of IoT platform • IDC stated that in-store contextual marketing will be one of the fastest growing cross-industry IoT use cases between 2017 and 2021 with a XX percent CAGR. It obviously will play a major role in retail as well. •Companies like Google are focusing towards the Internet of Things into agriculture sector. Recently Google ventures announced to invest approximately USD XX billion into Farm business Network • Internet of Things in agriculture has a promising future. Major IoT companies and ventures are focusing on investment in agriculture technology. In 2015, USD XX billion was invested Globally in agricultural technology by all companies and ventures • IBM has collaborated with Walmart to guaranteed the food tracking procedure, transportation and selling to consumers across the United States and China • Qualcomm is preparing snapdragon processors for mobile phones so that the application can be used in automobiles and wearables • Microsoft partnered with Flipkart to expand its cloud platform and to provide better online shopping experience for consumers

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Global IoT in Agriculture Market Size (USD Billion) & Growth Analysis Global IoT in Agriculture Market Size (USD Billion)-2016-2024 XX

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XX XX

XX 2016e

2017e

Source: Goldstein Research

m a S

2018f

2019f

2020f

e l p

2021f

2022f

2023f

2024f

Global IoT in Agriculture Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. Another important transformation in the agricultural production process is the rising role of automation that increases productivity by reducing the need for human workforce.

To take advantage of this opportunity, and similarly to other industries, the agricultural industry sees the development of IoT platforms. The strategy of actors (often large players in the industry such as equipment manufacturers like John Deere or crop providers such as Monsanto) is to establish themselves in a dominant position through both technological and data platforms. The role of technology platforms, centered on the control of technological enablers, can be important in setting up standards and securing the market early on. Technology giants such as Siemens, Toshiba, Microsoft, Oracle, Hitachi, and Ericsson are pumping funds and research teams into the technology and looking forward to exploit opportunities in global IoT market.

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Growth Drivers

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Growing Investments and Number of Start-ups 

While the hype around IoT has slowed somewhat as smart and connected devices have become nearly mainstream, it appears that venture interest in the sector hasn’t waned at all. In terms of dollars, it’s growing. This trend is evident when we consider the number of Agritech startups that have mushroomed over the last five years.



Most of these agritech startups are working on models driven by next-gen smart technological aspects viz Artificial Intelligence (AI), the Internet of Things (IoT), Big Data, Data Analytics, Predictive Learning, Deep Learning, and more. With investors having sensed potential in the agricultural sector, and with funds over USD XX billion estimated to have been invested in agritech ventures across the globe, it is only safe to assume that these startups would be the next-gen drivers of smart entrepreneurship.



In 2017, venture capital funding into U.S.-based IoT startups alone reached its highest annual mark as investors poured USD XX billion into startups, according to Crunchbase data. That’s up XX percent from USD XX billion in 2016, and XX percent more than the USD XX million raised in 2013. The year included a number of double-digit funding rounds. One of 2017’s largest investments included TrackR’s USD XX million Series B round, a Santa Barbara, Calif.based maker of devices that track your lost keys and every day carry. Revolution led the round, which included participation from Foundry Group, Amazon Alexa Fund, DoCoMo Capital, The Glenmede Trust, and Bespoke Strategies.

Global Dominates Internet of Things (IoT) Technology Outsourcing (USD Billion) RoW

Eastern europe

m a S

U.S.A

Western Europe

India

Source: Goldstein Research

Impact Analysis:-

 IoT analytics solutions enables the users to take important business decisions by analyzing the current data and predicting future outcomes based on the previous data available. Thus, predictive analytics for agriculture is acting as a huge driving factor for IoT analytics market

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Global IoT Market Share (%), By Players, 2016

7.79%

6.49% 5.19%

23.38%

6.49%

15.58%

14.29%

10.39%

IBM Google Intel Microsof Cisco Ericsson Qualcomm Facebook PTC Inc. Accenture PLC Amazon.com Inc. Hewlett Packard Enterprise

Source: Goldstein Research

High

Medium

Impact on Global IoT in Agriculture Market

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Low

Market Restraints

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Ability of Farmers to Modernize and Lack of Infrastructure

 One of the major essential challenges in the adoption of Agriculture 4.0 is the ability of farmers to invest and to modernize their practices of production. They often face a tight economic situation with very limited investment ability in new production tools and limited access to credit.  Additionally the workforce is ageing, with over XX% over 55 around the world (2013). The digital skills of the workforce are thus limited and require additional investment in training to adopt technologies. Furthermore, the willingness and ability to invest in new technologies face important disparities16 with the risk of creating important gaps in production abilities between regions and exploitations.  Finally, another important challenge in the adoption of the IoT in agriculture is the development of communication infrastructures in rural areas. Current wireless communication networks have been deployed with a B2C focus, having a strong emphasis on urban areas.

Rural & Urban Population (%)- World

48% 48%

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• XX% of the total population of the world population is lived at or below USD 1.90 per day in the year 2012 • In Global, XXX Million people living at or below USD X per day • In East-Asia region, XX% of the total population of this region living below poverty line in 2012

m a S 52% 52%

Impact Analysis:-

• In United States, the population lies below poverty line is XX% of the total population of the country

 There are many technological challenges, including Security, Connectivity, Compatibility & Longevity  IoT has already turned into a serious security concern that has drawn the attention of prominent tech firms and government agencies across the world. The hacking of baby monitors, smart fridges, thermostats, drug infusion pumps, cameras and even the radio in your car are signifying a security nightmare being caused by the future of IoT

Impact on Global IoT in Agriculture Market High

Medium

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Low

Global IoT in Agriculture Market Outlook : 2016-2024 Global IoT in Agriculture Market Share (%), By Components, 20162024

21.57% IoT Devices

XX%

44.12%

2016

XX%

2024

IoT Platforms

XX% 34.31% Sensors and Actuators

Request Sample Report Request Sample Repor Asia-Pacific IoT platform services market is expected to expand at a CAGR of XX% during the forecast period i.e. 2016-2024. Modernization of lifestyle and penetration of internet among the population in Global, China, Japan and other major economies along with the rising awareness towards IOT advantages are propelling the demand for IoT Market

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 Advancement in every devices by implementing internet of things and artificial intelligence technologies Source: Goldstein Research tends to enhance the design and Global IoT in Agriculture Market Y-O-Y Growth, By Components, test functionality of devices. 2016-2024 Enhancement in design and portability of IoT devices are driving the growth of IoT market XX% XX%

XX%

2016e

2017e

2018f

m a S XX%

2019f

XX%

2020f

2021f

2022f

XX%

2023f

2024f

Source: Goldstein Research

IoT Platforms tends to dominate the market by XX% of market share owing to the mature market of the IoT devices and increasing demand of advanced solutions. The role of technology platforms, centered on the control of technological enablers, can be important in setting up standards and securing the market early on.

Global IoT in Agriculture Market Size (USD Billion), By Components-2016-2024 XX

XX XX

2016 IoT Devices

2024 IoT Platform

Sensors and Actuators

Source: Goldstein Research

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Global IoT in Agriculture Market Outlook By Services: 2016-2024

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Global IoT in Agriculture Market Size (USD Billion), By Services, 2016-2024

Global IoT devices market was USD XX billion in 2016, expected to attain the growth rate of XX% over the forecast period and reach USD XX Billion by 2024.

XX XX XX XX

 North America IoT devices market dominate owing to the largest app developer economics closely followed by Europe with XX% market share in global IoT services market.

XX XX XX 2016e

2017e

m a S

2018f

2019f

2020f

2021f

2022f

2023f

e l p

 Major drivers of IoT Devices market are internet penetration, advanced IT system and awareness.

2024f

Source: Goldstein Research

Global IoT in Agriculture Market Y-O-Y Growth, By Services, 20162024

XX%

2016e

XX%

2017e

2018f

XX%

2019f

XX%

2020f

2021f

XX%

2022f

2023f

Managed IoT services are expected to see the fastest growth, at a compounded annual rate (CAGR) of XX per cent. Translating to USD XX million of annual business for global companies. Product engineering has the largest share of global IoT services, with USD XX million business in 2017. However, more than XX% of farmers are not able opt for advance due to high initial investment which is the major challenge for the growth of IoT in smart agriculture

2024f

Source: Goldstein Research

Smart Agriculture Market Size (USD Billion )by Application, 2016-2024 XX

2016 2024

Revenue( $ in billion)

XX XX

Source: Goldstein Research

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XX XX

Global IoT in Agriculture Market Attractiveness and BPS Analysis by Components, 2016-2024 Global IoT in Agriculture Market Attractiveness-By Components, 2016-2024 30.00%

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CAGR (%)

25.00% 20.00% 15.00% 10.00% 5.00% 0.00% 0.0

100.0

200.0

400.0

Market Size (USD Billion) IoT Platforms

IoT Devices Source: Goldstein Research

300.0

500.0

600.0

e l p 700.0

800.0

900.0

IoT Actuators & Sensor

m a S

Global Internet of Things (IoT) devices market is the major revenue generated segment among the IoT components. The rapid adoption of smart and connectivity devices further makes this market most attractive for business players followed by IoT actuators & sensors market. According to BPS analysis graph, IoT platform and IoT actuators & sensors market are expected to rise by XX BPS & XX BPS respectively. The rising demand for sensors in manufacturing and consumer electronics sector further creates huge opportunities for the market players to increase the demand for IoT components

Global IoT in Agriculture Market BPS Analysis- By Components, 2016-2024 XX%

XX%

8.00%

XX% XX%

Platforms

XX%

XX% 13.00%

Sensors & Actuators

XX% 83.00%

XX%

Devices

XX%

76.00%

XX% XX% XX%

Source: Goldstein Research

2015

2024

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North America IoT in Agriculture Market Size (USD Billion) & Y-O-Y growth (%), By Region- 2016-2024

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North America IoT in Agriculture Market Size (USD Billion)-2016-2024Request

XX% XX

XX%

XX XX

CAGR: (2016-2024)

XX XX

XX%

XX XX

e l p XX% XX%

XX%

XX XX

XX%

XX XX XX 2016e

2017e

Source: Goldstein Research

XX%

m a S 2018f

2019f

North America North America IoT in Agriculture Market Size (USD Billions), By Country-2016-2024

2020f

XX%

2021f

XX% XX% XX%

2022f

2023f

North America North America IoT in Agriculture Market Size (USD Billion), By Components, 20162024

XX%

XX XX

XX% XX

XX%

XX% XX% 2016

XX% 2016

2024

IoT Platform

Sensors and Actuators

Canada

Source: Goldstein Research

IoT Devices

2024

Source: Goldstein Research

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United States IoT in Agriculture Market Size (USD Million) & Y-O-Y growth (%), 2016-2024

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United States IoT in Agriculture Market Size (USD Billion), Compound Annual Growth Rate Request Sample (%), Y-O-Y Growth Rate (%), 2016-2024

XX% XX

XX XX

XX XX XX

XX%

XX XX XX 2016e

XX%

m a S XX%

Source: Goldstein Research

2017e

XX%

CAGR: (2016-2024)

XX XX

XX%

2018f

2019f

Key Insights

2020f

e l p XX%

2021f

XX%

2022f

XX%

XX% XX% XX% XX% XX% XX% XX% XX% XX%

2023f

Venture Investment Into US-Based Internet of Things Startups

In the past, precision agriculture technology was implemented by big agribusinesses due to high costs. Nowadays, a continuing decrease in remote sensor costs and advances in cloud-computing technology, tablets, and smart devices have made precision agriculture affordable by many farmers." And with about XX% of U.S. farms being family operated, the market is huge for these sensor technologies. The use of modern telecommunications in agriculture teams IoT with other technologies. For instance, IoT can combine with drones to conserve as much as XX% of irrigation water and reduce chemical use by XX to XX%. these benefits drove investment in agricultural drone technology increases of XXX% between 2013 and 2015.

Source: Crunchbase

There also will be innovation. For instance, in 2016 IBM, WISP OnlineNW and the Dayton, OR school district jointly ran a project to control the mildew that damages grapevines. The project was based on using data generated by a mesh network of wireless sensors throughout a large vineyard. Students participated in a number of tasks, including creating mobile apps. The IoT ability to constantly assess large areas and provide other services that free up workers makes it a good fit for what farmers do. It also is useful for smaller tasks, such as those carried out in dairy, vegetable and fruit farming and in greenhouses. Copyright

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North America IoT in Agriculture Market Attractiveness-By Country, 2016-2024 North America IoT in Agriculture Market Attractiveness-By Country, 2016-2024 XX

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CAGR (%)

XX XX

e l p m

Market Size (USD Billion) Canada Source: Goldstein Research

United States

According to the above graph, U.S. IoT in Agriculture market is anticipated to be the most attractive market across all the countries in IoT in Agriculture Market, for new entrants looking to enter in the market, existing players looking for business expansion in agriculture sector and investors seeking investment opportunities over the forecast period i.e. 2016-2024

a S

According to the U.S. Department of Agriculture, over XX percent of U.S. agricultural input dealers offer some kind of variable-rate-technology services. However, less than XX percent of acreage is managed using these technologies due to the high cost. Ideally, as the benefits of precision agriculture become more wellknown, the use of the technology will become more widespread, and the costs will decrease.

North America North America IoT in Agriculture Market BPS Analysis- By Country, 2016-2024 XX% XX%

30%

XX%

40% Canad a

XX% XX% XX% XX%

70%

XX%

US 60%

XX% XX% XX% 2016

2024

Source: Goldstein Research

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Global IoT in Agriculture Market Outlook

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