Global Agriculture IoT Market Analysis and Future Forecast (2022-2028)

Agriculture IoT refers to the integration of modern technologies into farming practices to promote sustainability and enhance productivity. It involves the use of interconnected devices and IoT-enabled sensors that monitor real-time conditions across the farming process. These sensors collect, analyze, and adapt to data during various stages of agricultural development, enabling farmers to make informed decisions. As a result, the growing adoption of precision farming techniques and increased IoT implementation are driving the demand for Agriculture IoT solutions globally.

The Global Agriculture IoT Market is projected to grow at a steady CAGR of approximately 11% during 2022–2028. This growth is largely fueled by the increasing global population and the resulting surge in food demand. To meet this challenge, agricultural productivity must rise significantly. According to the United Nations, the global population, which stood at 7.6 billion in 2017, is expected to increase to 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100—making the role of smart agriculture more critical than ever.

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Market Segmentation by Component

The market is segmented into hardware, software, and services.

Hardware is anticipated to register the highest CAGR during the forecast period. This segment includes smart cameras, sensors, and real-time monitoring devices, which are crucial for data collection. These tools work in tandem with software and services to power advanced solutions such as farm management systems, artificial intelligence (AI), machine learning (ML), and analytics.

Market Segmentation by Application

Based on application, the market is divided into:

Precision Farming
Precision Livestock
Others

Precision Farming accounted for a significant market share in 2020 and continues to dominate due to its data-driven approach. It leverages IoT-enabled sensors to generate actionable insights, allowing farmers to make quicker, smarter decisions that enhance crop yield and resource efficiency.

Regional Analysis

To understand the global adoption of Agriculture IoT, the market is studied across the following regions:

North America (U.S., Canada, Rest of North America)
Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)
Rest of the World

The Asia-Pacific (APAC) region is expected to witness a substantial CAGR during the forecast period. Factors contributing to this growth include increasing technology adoption in agriculture, a rising need to monitor livestock health and productivity, and the escalating demand for food. For example, in July 2020, DeLaval acquired milkrite|InterPuls (UK)—a provider of milking point solutions for dairy farmers. The acquisition aims to broaden DeLaval’s product offerings, while milkrite|InterPuls continues to operate as a standalone entity.

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