Smart Farming & IoT applications in ASEAN to reach USD 5 billion by 2024

reogma|Smart Farming & IoT applications in ASEAN to reach USD 5 billion by 2024

The technological advancement continued innovation, and government support in most Southeast Asian countries are expected to reshape agriculture system to witness buoyant growth, thereby influencing the ASEAN's smart farming and IoT applications market.

Considering such factors it is anticipated market will be valued at around USD 5 billion by 2024.

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Market Trends
  • Industry Challenges
  • Technology Trends
  • Pricing Trends
  • Regulatory Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References
  • Appendix

Definition / Scope

Between now and 2050 the planet’s population is likely to rise to 9.7 billion. The Food and Agriculture Organization published a report which suggested that by 2050 agricultural production will have to rise by 70% to meet projected demand. Since most land suitable for farming is already farmed, this growth must come from higher yields. 

Smart farming means a farming management concept using modern technology to increase the quantity and quality of agricultural products. The Internet of Things (IoT) has brought everything connected through the internet.

In simple language, IoT means a system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provided with unique identifiers (UIDs) and also can transfer data over a network without requiring human-to-human or human-to-computer interaction. 

IoT technology is anticipated to play a significant role in increasing the current agricultural productivity to cater to the growing demand for food.

IoT in the agriculture industry incorporates IoT-based advanced technological tools, systems, equipment, and solutions to enhance operational efficiency, maximize yield, and minimize wastage of energy through real-time field data collection, data storage, data analysis, and development of control platform.

Table: Smart Farming and IoT Applications ASEAN Market Key Segments

BY APPLICATIONPrecision farming
Livestock monitoring
Smart greenhouse
Fish farm monitoring
BY COUNTRYMalaysia
Indonesia
Thailand
Philippines
Rest of ASEAN


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The technological advancement continued innovation, and government support in most Southeast Asian countries are expected to reshape agriculture system to witness buoyant growth, thereby influencing the ASEAN's smart farming and IoT applications market. Considering such factors it is anticipated market will be valued at around USD 5 billion by 2024. […]
reogma|Smart Farming & IoT applications in ASEAN to reach USD 5 billion by 2024reogma|Smart Farming & IoT applications in ASEAN to reach USD 5 billion by 2024

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