Connected Agriculture Market Business Overview, Size Estimation, Revenue, Upcoming Trends to Forecast 2023

According to a research report "Connected Agriculture Market by Component (Solution, Platforms, and Services), Application (Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management), and Region - Global Forecast to 2023" published by MarketsandMarkets, The connected agriculture market is expected to grow from USD 1.8 billion in 2018 to USD 4.3 billion by 2023, at a CAGR of 19.3% during the forecast period. Need to increase farm yield and reduce labor cost, and rising government initiatives for modernizing the agriculture industry are some of the major factors driving the growth of the connected agriculture market globally.

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Device management is expected to account for the largest market size during the forecast period.

The device management solutions assist organizations to manage, track, secure, and sustain abundant devices that are used in connected agriculture deployment. The configuration management feature of the device management solution is used to configure new devices, in accordance with the need of function. The devices are based on different communication technologies, and thus, consist of different communication interfaces and operating systems. The growing requirement for access and control over connected devices is expected to drive the Connected Agriculture Market.

In-production planning and management segment is expected to gain a larger market share during the forecast period.

In-production planning and management application area involves water and irrigation management, breeding and feed management, crop scouting, production monitoring and maintenance, animal tracking and navigation, and agri finance and insurance management. Connected agriculture solution and services help in gathering real-time information about farm irrigation, animal health, feeding behavior, hygiene, location tracking, crop production, and insurance among others, to enhance the crop, farm and livestock management process, improve the productivity, and the quality of production

Rapid adoption of connected agriculture technologies is expected to make North America the largest regional market.

Presence of a large number of connected agriculture solution vendors, continuous advancements in technology, and reduction in prices of agricultural equipment are some of the growth factors for the connected agriculture market in North America. Farmers, growers, and traders in North America are moving toward digitalization through the adoption of agriculture solution, which utilizes various advanced technologies, such as IoT, AI big data, data analytics, and predictive analytics.

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North America is estimated to have the largest market size during the forecast period

North America is estimated to account for the highest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. Majority of farmers or growers in the region have deployed connected agriculture solutions to improve their farming operations.  Moreover, the North American region exhibits a wide presence of key industry players offering connected agriculture solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.

Key Market Players

Key players in Connected Agriculture Market includes IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), Ag Leader Technology (US), Decisive Farming (Canada), Gamaya (Switzerland), and SatSure (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

 

 

 

 

 

Connected Agriculture Market By 2023, Global Key Players, Trends, Share, Industry Size, Segmentation, Forecast & Opportunities

According to a research report "Connected Agriculture Market by Component (Solution, Platforms, and Services), Application (Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management), and Region - Global Forecast to 2023" published by MarketsandMarkets, The connected agriculture market is expected to grow from USD 1.8 billion in 2018 to USD 4.3 billion by 2023, at a CAGR of 19.3% during the forecast period. Need to increase farm yield and reduce labor cost, and rising government initiatives for modernizing the agriculture industry are some of the major factors driving the growth of the connected agriculture market globally.

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The pre-production planning and management segment is expected to hold a larger market size in the global connected agriculture market during the forecast period

Inefficiencies in planting, weather uncertainty, pests and disease outbreaks, rising labor costs, and other intangible problems have put farmers in a situation where they are desperately looking out for solutions backed up with emerging technologies. Pre-production planning and management involve the use of connected agriculture solution to analyze and correlate information about field, crop, types of seeds, types of soil or infestations, weather, and manage variations in the field to grow more crops using fewer resources with less production cost. Hence, the pre-production planning and management segment is expected to hold the largest market size during the forecast period.

The services segment is expected to grow at the fastest CAGR during the forecast period

Connected agriculture services is gaining popularity worldwide owing to its extensive benefits in increasing farm productivity. Connected agriculture services have a wide scope of usage, ranging from feasibility analysis, strategy and implementation, and valuations and development of farm, to crop selection and weather monitoring. This has created opportunities for vendors to provide services to farmers and help them improve their limited knowledge by fulfilling a technological gap.

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North America is estimated to have the largest market size during the forecast period

 

North America is estimated to account for the highest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. Majority of farmers or growers in the region have deployed connected agriculture solutions to improve their farming operations.  Moreover, the North American region exhibits a wide presence of key industry players offering connected agriculture solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.

 

Major vendors offering connected agriculture solutions, platforms, and services across the globe include IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), Ag Leader Technology (US), Decisive Farming (Canada), Gamaya (Switzerland), and SatSure (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

 

 

 

 

 

 

 

 

 

Connected Agriculture Market Is Poised To Grow At A CAGR of 19.3% to 2023: Exclusive Report by MarketsandMarkets™

According to a research report "Connected Agriculture Market to provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. Also define, describe, and forecast the connected agriculture market by component (solution, platforms, and services), application, and region - Global Forecast to 2023" published by MarketsandMarkets. The Connected Agriculture Market estimated to grow from USD 1.78 billion in 2018 to USD 4.31 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 19.3% from 2018 to 2023.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=469728

Device management is expected to account for the largest market size during the forecast period.

The device management solutions assist organizations to manage, track, secure, and sustain abundant devices that are used in connected agriculture deployment. The configuration management feature of the device management solution is used to configure new devices, in accordance with the need of function. The devices are based on different communication technologies, and thus, consist of different communication interfaces and operating systems. The growing requirement for access and control over connected devices is expected to drive the Connected Agriculture Market.

In-production planning and management segment is expected to gain a larger market share during the forecast period.

In-production planning and management application area involves water and irrigation management, breeding and feed management, crop scouting, production monitoring and maintenance, animal tracking and navigation, and agri finance and insurance management. Connected agriculture solution and services help in gathering real-time information about farm irrigation, animal health, feeding behavior, hygiene, location tracking, crop production, and insurance among others, to enhance the crop, farm and livestock management process, improve the productivity, and the quality of production.

Rapid adoption of connected agriculture technologies is expected to make North America the largest regional market.

Presence of a large number of connected agriculture solution vendors, continuous advancements in technology, and reduction in prices of agricultural equipment are some of the growth factors for the connected agriculture market in North America. Farmers, growers, and traders in North America are moving toward digitalization through the adoption of agriculture solution, which utilizes various advanced technologies, such as IoT, AI big data, data analytics, and predictive analytics.

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Drivers - Growing need to increase farm yield and reduce labor

The demand for food is growing at a rapid rate due to increase in population across the globe. World population is growing at an exponential rate and is expected to reach approximately 9.6 billion by 2050. Each year, around 85 million people are added to the total population. According to Food and Agriculture Organization (FAO), to keep up with the population growth, the food production rate must double between 2014 and 2050. The global demand for food is increasing by 2% every year; by 2050, there would be a need to produce 70% more food worldwide compared to the current production pattern. Furthermore, to add on to this issue, farmers still heavily rely on weather conditions for food production. Any unpredictable change in weather condition affects the yield and farmers have to face losses. Issues such as global warming, deforestation, and other environmental problems in many developing countries across the globe are hampering the food production and livestock farming.

Key players in Connected Agriculture Market includes IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), Ag Leader Technology (US), Decisive Farming (Canada), Gamaya (Switzerland), and SatSure (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441