Global Connected Agriculture Market Forecast to 2028
According to the most recent report by Emergen Research, the size of the worldwide connected agricultural market is anticipated to reach USD 12.57 billion in 2028 and exhibit a consistent CAGR throughout the projected period. The growing requirement to secure food security and boost agricultural productivity and efficiency to meet rising global food demand is the primary cause of the market's steady revenue growth. Throughout the forecast period, it is anticipated that there will be a rise in the use of cutting-edge technologies to manage, improve, and regulate farming operations. Some significant factors propelling market expansion include the growing use of IoT sensors to help with crop monitoring and cultivation, improve farm operations, and optimise agricultural processes.
Farmers are using farm management systems more and more because they help with data gathering and management by utilising a variety of tracking devices and sensors. These systems are used by both farmers and other stakeholders in the agriculture industry. The market for connected agriculture solutions is being significantly fueled by the growing demand for reliable financial data, production data management solutions and services provided by farm management systems, and risk mitigation capabilities surrounding weather.
The report investigates the factors influencing industry growth in the global Connected Agriculture Market and makes accurate predictions about the growth pattern. The report focuses on the market's key elements, such as drivers, restraints, opportunities, threats, risks, limitations, and other factors. The report includes a detailed analysis of the company profiles, product portfolio, and business expansion strategies, as well as a comprehensive analysis of the competitive landscape.
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Competitive Terrain:
The global Connected Agriculture industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
IBM, Microsoft, ATT, Deere Company, SAP SE, Accenture, Cisco Systems, Inc., Oracle Corporation, Iteris, Inc. and Trimble Navigation
Research Report on the Connected Agriculture Market Addresses the Following Key Questions:
- Who are the dominant players of the Connected Agriculture market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Connected Agriculture market?
- What are the key growth drivers and restraining factors of the Connected Agriculture market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Connected Agriculture market and its key segments?
Market Overview:
The report bifurcates the Connected Agriculture market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Services
- Solution
- Platforms
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Pre-Production Planning and Management
- In-Production Planning and Management
- Post-Production Planning and Management
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Regional Landscape section of the Connected Agriculture report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
- In July 2020, Land O’Lakes Inc. and Microsoft Corporation announced a multiyear strategic alliance to launch new innovations in agriculture, expand sustainability practices for farmers, improve the supply chain, and minimize the rural broadband gap. The strategic alliance is expected to deliver solutions, which would help in increasing profit potential of farmers and drive adoption of sustainable agricultural practices.
- Platforms segment accounted for largest revenue share in 2020. Rising need to constantly monitor and remotely control smart agriculture devices utilized in connected agriculture systems is projected to drive demand for device management platforms going ahead.
- Pre-production planning and management segment revenue is expected to expand at a rapid CAGR during the forecast period. Rising need to minimize pest and disease outbreaks and inefficiencies in planting is driving increasing utilization of pre-production planning and management solutions.
- North America accounted for largest revenue share contribution to the global connected agriculture market in 2020. Increasing investment by major players in the region such as IBM, Microsoft, ATT, Deere Company, Cisco Systems, Inc., Oracle Corporation, Iteris, Inc., and Trimble navigation for development of connected agriculture solutions is resulting in rising demand for connected agriculture solutions in countries in the region.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Connected Agriculture market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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