Agriculture IoT Market

The global agriculture IoT market is estimated to grow from USD 11.4 billion in 2021 to USD 18.1 billion by 2026 at a CAGR of 9.8% during 2021–2026. The growth of the agriculture IoT market is driven by factors such as increasing adoption of the Internet of Things (IoT) and artificial intelligence (AI) by farmers and growers, growing focus on livestock monitoring and disease detection, high demand for fresh produce, population growth, loss of arable land, surging adoption of aquaculture monitoring and feed optimization devices in developing countries, and strong government support for precision farming practices.

Agriculture IoT companies include:

• Deere & Company (US),
• Trimble Inc. (US),
• Raven Industries (US),
• DeLaval (subsidiary of Tetra Laval International, S.A.) (Sweden), and
• AKVA group (Norway).

To know about the assumptions considered for the study download the pdf brochure

Deere & Company is one of the key players providing efficient agriculture IoT solutions. The company has a strong brand name and a well-established distribution network, which makes it a leading market player. It has a strong portfolio of precision agriculture technologies such as variable rate controllers, GNSS systems, guidance and steering systems, and water management systems. These products help farmers to build more profitable and efficient farms.  Further, it has invested heavily in precision agriculture technologies; in 2020, the company invested 1.64 billion in research and development. In addition, the company has a broad base of customers for precision agriculture technologies across the world. It now has over 230 million engaged acres of production data globally. The company has strong presence in the US and Canada. The company has adopted product launches as its key business strategy. For instance, in November 2020, the company launched AutoPath, a guidance technology that helps automatically create guidance lines from a map of crop row lines. The company also invests heavily in R&D activities to launch innovative products in the agriculture IoT market. However, the company could focus on inorganic growth strategies of acquisitions and partnerships as it is dependent on several distributors and dealers outside the US and Canada for the sale of agriculture equipment and solutions.

Trimble is among the key players in the agriculture IoT market. Trimble’s Agriculture division provides solutions that solve complex technological challenges across the agricultural landscape. These solutions enable farmers and advisors to allocate scarce resources to produce a safe and reliable food supply in a profitable and environmentally sustainable manner. The company offers a wide range of products and services in the precision farming space. The company has made consistent product enhancements and launched various products from 2017 to 2019. The company also has strong distribution and sales network owing to its robust global presence. Product launches and developments are the major strategies adopted by Trimble to compete in the agriculture IoT market. For example, in 2019, the company introduced GFX-350, an android-based display useful for auto-steering application control for farms. This display can be combined with NAV-500 and NAV-900 guidance systems for different user accuracy needs. The company also focuses on geographic expansion with a localization strategy to sustain in the market. The company currently has a presence in over 40 countries and distribution channels in over 85 countries.

DeLaval is one of the leading providers of dairy farm technology across the world. The company has a range of innovative products and solutions, which includes DeLaval VMS voluntary milking system, the state-of-the-art DeLaval AMR automatic rotary milking solution, DeLaval Optimat, DeLaval body condition scoring BCS, and Herd Navigator. To maintain its leadership position in the global agriculture IoT market, the company focuses on new product launches, expansion, and agreements as its key growth strategies. For instance, DeLaval introduced RC550 & RC700 to its portfolio of robots. These robots were designed for solid floors to improve cow comfort and hoof condition. The company has a strong presence in Europe and the Americas. The company is a leading provider of herd management technology; to maintain its hold, the company focuses on product launches, expansions, acquisitions, and agreements as its key growth strategies. For instance, DeLaval has increased the manufacturing capacity of the new DeLaval VMS milking system V300 due to the growing demand from customers for this product. Also, DeLaval has signed an agreement with Fundo EI Risquillo Farm and TDI Farms to install its milking robots at their farms, thereby strengthening its revenue growth. DeLaval and LIC Automation (New Zealand) collaborated to develop an automated body condition scoring (BCS) measurement system for dairy cows; with this collaboration, the company strengthened its product portfolio. The company can further enrich its product portfolio by offering livestock identification and tracking equipment.

Raven Industries is a leading player in the agriculture IoT market. The company offers a wide range of products to help farmers improve yield. From field computers to sprayer and planter controls, GPS guidance steering systems, and wireless technology, Raven provides precision agriculture products designed to reduce operating costs and improve yields. Raven Industries stresses R&D to develop advanced technology-based offerings. Most of the companys R&D expenditures are directed toward new product developments. The company’s R&D investment is particularly strong within the Applied Technology division. It is expanding its product portfolio and improving its technology through investments in R&D. In 2019, the company spent USD 26.2 million in R&D compared to USD 23.0 million in 2018. The company also focuses on acquisitions and partnerships. In 2019, Raven Industries acquired Smart Ag Inc. (US), a technology company that develops autonomous farming solutions, to become the industry leader in autonomous agricultural solutions The company is mainly focusing on product launches, mergers, acquisitions, and collaborations. In November 2019, Raven acquired Smart Ag Inc., a technology company that develops autonomous farming solutions for agriculture. In September 2018, the company signed a licensing agreement with Topcon Agriculture Group, a division of the Topcon Positioning Group. Raven Industries has a firm grip in the US, as well as in the European markets; in 2019, these geographies collectively accounted for ~92% of its revenue.

AKVA group is a leading global player in precision aquaculture. The company offers an innovative and strong portfolio of agriculture IoT offerings ranging from single components to complete solutions. It generated its major revenue of ~82% from its Cage-based Technology segment in 2019 and offers main hardware products under its Polarcirkel, Wavemaster, and Akvasmart hardware brands. The company is also well known for its design of feed barges. It has strengthened its position in the market by acquiring Egersund Net AS and Newfoundland Aqua Service and is also focusing on building and investing in new service stations. AKVA’s position within the digital area is truly unique as it has a large share of the market for sophisticated systems (Fishtalk suite) that provide a complete overview of the biological status from broodstock to harvest. In 2018, the company entered into a partnership with the UK-based Observe Technologies. AKVA group is known for its fit-for-purpose solutions for the global aquaculture industry. AKVA group possesses extensive experience in land-based technology, which has helped it earn high-value contracts for its land-based technology RAS systems from Norway and the Americas. Mergers and acquisitions, collaborations, and product launches have been the major strategies adopted by the company to increase its share in the agriculture IoT market. For instance, in 2020, the company acquired Newfoundland Aqua Service Ltd (NAS), the leading supplier of fish farming services in Newfoundland and Labrador.

Other major players in the agriculture IoT market are mainly focusing on acquisitions and partnerships along with new product launches to achieve continuous and sustainable development.

Related Reports:

Agriculture IoT Market with COVID-19 Impact Analysis by Hardware, Application (Precision Farming, Precision Forestry, Precision Livestock, Precision Aquaculture, Smart Greenhouse), Farm Size, Production Stage, and Geography - Global Forecast to 2026

See Also:

Precision Livestock Farming Companies

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]