Connected Agriculture Market

Connected Agriculture Market Values and Growth Rate(2022 - 2027):

Connected Agriculture Market is valued at 2.2 Billion USD in 2021. The market is expected to grow at a CAGR of 18.5% over the forecast period to reach a valuation of 4.7 Billion USD in 2026.

Connected agricultural marketing is dependent upon the provision of services involved in the enhancement of agricultural production from the field to the consumer. It is also the planning, systematization, and management of the farm output in such a way as to meet the requirements of the producer, the supplier, and the purchaser. This involves several consistent activities, such as transport, grading, growing and harvesting, distribution, production planning, packing and packaging, storage and food processing, sales and advertising. The concept covers the full scope of supply chain operations. On the other hand, its primary function is to assist these services by providing competent and well-informed information, thus linking additional activities to the integrated network with besieged goods.

Regional Growth Analysis:

North America is expected to hold the largest market and dominate the connected agricultural market from 2021 to 2026. In the area, there are mainly farms with best-in-class equipment, which largely contribute to the growth of the sector. The Asia Pacific is expected to provide lucrative opportunities for connected agricultural vendors due to increasing investments in connected infrastructure, digital farming practices and the implementation of cloud-based solutions among growers in the region. However, the lack of standardization of data in the different areas could have an impact on the adoption of a linked agricultural solution.

MARKET DRIVERS, RESTRAINTS OPPORTUNITIES:

Significant factors which have helped drive the Connected Agriculture Market forward are-

• The critical driver of growth in the connected agricultural market is mobile telecommunications, which can link farmers to different markets, such as finance, education, commodity price controls, weather forecasting, different farming techniques, commodity exchanges, different traders, sellers and buyers of agricultural products for farming
• Increasing demand for the linked agricultural sector, powered by solutions to improve farmers' returns, is boosting the market growth
• Many telecommunications service providers are also seen to focus more on the global connected agricultural market to provide end-customer information at the same time
• Easy access to agrarian data is another factor that is expected to drive growth in the connected agricultural market in the coming years.
• Government initiatives to deploy modern agricultural techniques
• Increasing pressure to satisfy global food demand and to increase farm productivity

The factors holding the Connected Agriculture Market back include-

• Lack of knowledge on payment for related agriculture, especially in - nations, has limited the development of the market

Mobile payment service providers are allowing farmers to outline their real-time costs, which have created many opportunities. By enhancing the potential of farmers to conduct economic transactions without difficulty in rural areas and by facilitating access to agricultural data, the connected agriculture market is expected to develop globally.

CONNECTED AGRICULTURE MARKET REPORT COVERAGE:

Connected Agriculture Market Segmentation:

Connected Agriculture Industry - By Component:

• Solution

• Platforms
• Services

Connected Agriculture Industry - By Application:

• Pre-Production Planning and Management

• In-Production Planning and Management
• Post-Production Planning and Management

Connected Agriculture Industry - By Region:

• North America

• Europe
• Asia-Pacific
• Middle East and Africa
• Latin America

Market Insights Based on Segmentation:

• The growing need for agribusiness to increase farm yields effectively contributes to the growth of the connected agricultural solution segment. The crop yield depends on multiple factors, such as weather, soil condition, application of fertilizer and seed variety. It is becoming challenging for farmers to recognize the critical factors in large data sets that can affect their farm productivity. Connected agriculture allows a wide range of agricultural information to be combined in order to obtain valuable insights to increase productivity.
• In-production planning and management of applications include water and irrigation control, breeding and feed management, plant scouting, farm, and maintenance monitoring, animal tracking and navigation, and Agri-finance and insurance management. In-production planning and management systems include a variety of tasks conducted on a daily basis. Some mismanagement in the preparation of a crop farm and the diet or monitoring of animals can cause significant losses for farmers.

KEY MARKET PLAYERS:

The key market players of the Connected Agriculture Market 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).

RESEARCH METHODOLOGY:

The research done takes place in two phases namely-

Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.

Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.

Research Report Key Highlights:

• Current and future market perspectives for Connected Agriculture Market in developed and emerging markets.
• Analyze different market perspectives using the analysis of five Porter forces
• The segment that is expected to dominate the market.
• Regions that are expected to grow faster during the forecast period.
• Identify the latest developments, market shares, and strategies of key market participants.