Global agriculture IoT market to reach $20.4 billion by 2027, study
The Global Agriculture IoT Market is projected to reach $20.4 billion by 2027 from $9.7 billion in 2021, at a compound annual growth rate, CAGR, OF 13.06% during the forecast period. This is according to the latest report by Research and Markets.
The report provides market sizing and forecast across 7 major currencies – USD, EUR, JPY, GBP, AUD, CAD, and CHF. It helps organization leaders make better decisions when currency exchange data is readily available.
In this report, the years 2019 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
The Americas Agriculture IoT Market size was estimated at USD 3,892.64 million in 2021, is expected to reach USD 4,278.57 million in 2022, and is projected to grow at a CAGR of 12.37% to reach USD 7,837.56 million by 2027.
The Asia-Pacific Agriculture IoT Market size was estimated at USD 2,275.03 million in 2021, is expected to reach USD 2,608.07 million in 2022, and is projected to grow at a CAGR of 13.93% to reach USD 4,975.44 million by 2027.
The Europe, Middle East & Africa Agriculture IoT Market size was estimated at USD 3,629.42 million in 2021, is expected to reach USD 4,084.43 million in 2022, and is projected to grow at a CAGR of 13.25% to reach USD 7,657.20 million by 2027.
The report identifies key attributes about the customer to define the potential market and identify different needs across the industry. Understanding the potential customer group’s economies and geographies can help gain business acumen for better strategic decision-making.
The market coverage across different industry verticals reveals the hidden truth about the players’ strategies in different verticals and helps the organization decide target audience. This report gives you the composite view of sub-markets coupled with comprehensive industry coverage and provides you with the right way of accounting factors such as norms & regulations, culture, to make right coverage strategy for your market plan.