Global Connected Agriculture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Connected Agriculture Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global connected agriculture market report has been segmented on the basis of component, application, and region.
Global Connected Agriculture Market: Overview
Connected agriculture assists farmers to use different methods, equipment, tools, fertilizers, pesticides to increase crop yield/agricultural productivity. Use of connected agriculture in farming activities supports the farmers to provide vital information such as best quality of seeds, weather forecasting, soil moisture and quality, crop failure and also offers greater accessibility of financial payments.
Global Connected Agriculture Market: Dynamics
Growing demand for agri-mobile driven solutions and favorable government Initiatives regarding modernizing agriculture industry are some major factors expected to drive growth of the target market. Also, rising number of telecom service providers and technological advancements such as the merging Internet of things (IoT) with agriculture are some factors anticipated to drive growth of the target market. Moreover, increasing investments for R&D activities to provide real-time information and services and improve agricultural output, which is estimated to provide growth opportunities for growth of target market during the forecast period. Whereas, high capital investment along with lack of awareness regarding innovative solutions, may hamper demand for agriculture testing and restrain growth of the target market
A recent trend observed in the target market is several initiatives such as Pradhan Mantri Fasal Bima Yojana, National Mission for Sustainable Agriculture, and others along with the focus on energy-efficient irrigation are being undertaken by government across the world to improve the agriculture produce.
Global Connected Agriculture Market: Segment Analysis
Among the component segments, the solution segment is projected to contribute significant revenue shares in the global target market.
Among the application segments, the in-production planning and management segment is projected to dominate the market over the forecast period.
Global Connected Agriculture Market: Region Analysis
The market in North America holds a major share in terms of revenue in the global market followed by the market in Europe. This is attributed to growing digital agriculture practices, increasing investments in the connected infrastructure, along with adoption cloud computing in the agriculture sector in the region. In addition, usage of advanced techniques and robust agricultural facilities and infrastructure, are some factors expected to drive connected agriculture market.
The market in the Asia Pacific is expected to witness significant growth in terms of revenue in the global market. A high proportion of available agricultural land, government initiatives and investments along with improving farmer’s potential to conduct economic transactions are some of the major factors expected to drive the market in countries in the region. In May 2018, for instance, International Business Machines Corporation and government policy think tank NITI Aayog signed a Statement of Intent (SoI) to develop prediction model for improving crop yield by using artificial intelligence. Furthermore, the market in Europe, Middle East & Africa and Latin America are estimated to register substantial growth in target market, owing to the lack the essential technology required for the agricultural sector.
Global Connected Agriculture Market Segmentation:
Segmentation by Component:
Segmentation by Application:
- Pre-production planning and management
- In-Production Planning and Management
- Post-Production Planning and Management
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- International Business Machines Corporation
- Microsoft Corporation
- AT&T Inc.
- Deere & Company
- SAP SE
- Accenture Plc
- Cisco Systems, Inc.
- Oracle Corporation
- Iteris Inc.
- Trimble Inc.
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