Source: Microsoft Dynamics 2019 Manufacturing Trends Report

Signal: The average cost of an IoT sensor has decreased dramatically in recent years. From 2012 to 2020, the average cost almost halved from $0.70 to $0.38. Not only have sensors become less expensive, but also they are a lot smaller and more powerful.

With these changes, the adoption of IoT sensors and devices more generally is set to explode as use cases emerge in low-margin industries. There’s one industry niche in particular that has caught our eye. The industry: agriculture. The niche: livestock tech.