Description
Connected Agriculture Market
Global Connected Agriculture Market to surpass USD 9.03 billion by 2030 from USD 2.26 billion in 2020 at a CAGR of 18.9 % in the coming years, i.e., 2021-30. The growing demand for different solutions to improve returns for farmers supports the growth of the Connected Agriculture market.
Product Overview
Connected Agriculture is described as the use of modern technical solutions and services for the improvement, management, and control of pre-production, in-production, and post-production farming activities. Connected agriculture involves four main steps: data detection, data communications, and data storage.
Different stakeholders such as farmers, farmers, livestock producers, farming cooperatives, agricultural businesses, grapes, seed companies, fertilizer enterprises, food and drink companies, and governments can use the information gathered from these steps to make actual decisions that maximize their return on investment (RoI).
Connected agriculture technology gives farmers the appropriate skills and know-how about different techniques for improving farm productivity, seed and fertilizer use, weather forecasting, and more. Thereby, connected agriculture technology helps farms to regularly update a weather forecast to help avoid farmers from losing crops in the case of premature rains or droughts and is therefore dependent on monsoons in most countries.
Market Highlights
Global Connected Agriculture market is expected to project a notable CAGR of 18.9% in 2030.
In addition, different service providers focus on the global Connected Agriculture market to provide their end-users with concurrent information. In addition, mobile transaction service providers can shape farmers’ real-time expenses. This supported further share in the market-connected agriculture market, thereby providing market participants with a number of opportunities over the coming years.
Global Connected Agriculture Market: Segments
In-Production Planning and Management segment to grow with the highest CAGR during 2020-30
Global Connected Agriculture market is segmented by application into Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management. The area of application management and planning in production includes management of the water and of irrigation, management of reproduction and feed, crop scouting, operation and management of production, animal monitoring and connectivity, agri-finance management, and insurance. Connected solutions and services for agriculture assist in finding real-time information about agricultural irrigation, livestock health, feeding behavior, sanitation, tracking locations of crops, insurance, and other activities for improving crop, livestock, and farm management, improving productivity and the quality of production
Device Management segment to grow with the highest CAGR during 2020-30
Global Connected Agriculture is divided by platform into Device Management, Application Enablement, and Connectivity Management. Control devices support organizations in the management, tracking, safe operation, and maintenance of abundant devices used for connected farming operations. The device management solution is configured in conjunction with functional requirements with the application development feature. The devices are characterized by various communication technologies and are therefore composed of various communication interfaces and operating systems. Connected agriculture demand is anticipated to drive the growing requirement for access and control over connected devices.
Market Dynamics
Drivers
Need to meet world’s demand for food
As the population of the world increases, the demand for food is growing rapidly. At an exponential rate, the world’s population is projected to rise to around 10 billion from now to 2050. The total population adds up to about 85 million people each year. The food production rate should double between 2020 and 2050, according to the FAO, to maintain population growth. In addition, farmers still depend primarily on the weather for food production to complement this issue.
In meteorological conditions, any unpredictable changes affect the income, and farmers face losses. Issues like global warming, deforestation, and other environmental issues are hindering food production and livestock farming in many developing countries around the world. Connected farming solutions enable farms, such as water, seeds, land areas, and fertilizers, to use their scarce resources optimally to meet the increasing demand for food. Connected solutions in agriculture help farmers to automate farm gear, increase agricultural returns, reduce work, increase productivity and improve overall efficiency
Technological advancements
The growing demand for different solutions to improve returns for farmers supports the growth of the connected agriculture market. In addition, different service providers focus on the global connected agriculture market to provide their end-users with concurrent information. In addition, mobile transaction service providers can shape farmers’ real-time expenses. This supported further share in the market-connected farming market, thereby providing market participants with a number of opportunities over the coming years.
Restraint
High capital investment
High capital investment is required for the implementation of connected farming techniques and solutions. Most farmers worldwide are marginalized or small farmers who find investing in this expensive equipment complicated. Connected agriculture needs huge investments, sustainable agriculture tools, and qualified, skilled farmers to use this technology to collect basic information. The access to the latest technology is limited, because of high technological costs, mainly to big and industrialized farms.
Global Connected Agriculture Market: Key Players
SAP SE
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
IBM (US)
Microsoft (US)
AT&T (US)
Deere & Company (US)
Accenture (Ireland)
Cisco (US)
Oracle (US)
Iteris (US)
Trimble (US)
SMAG (France)
SatSure (UK)
Other Prominent Players
Global Connected Agriculture Market: Regions
Global Connected Agriculture market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Connected Agriculture in North America held the largest market share of XX.X% in the year 2020, owing to huge adoption among smallholder farmers, North America is likely to hold the largest market share linked agriculture market. North America has farmed with well-equipped agriculture equipment, and the worldwide connected agricultural market is largely expanding. In the coming years, however, the worldwide connected agriculture market will see substantial growth in other emerging economies, such as the APAC. This is due to growing investments in connected agriculture and cloud-based solutions, which contribute further to the growth of the market.
Global Connected Agriculture Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Connected Agriculture Market report also contains analysis on:
Connected Agriculture Segments:
By Application
Pre-Production Planning and Management
In-Production Planning and Management
Post-Production Planning and Management
By Platform
Device Management
Application Enablement
Connectivity Management
Connected Agriculture Market Dynamics
Connected Agriculture Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Connected Agriculture Market Report Scope and Segmentation
Frequently Asked Questions
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