Connected Agriculture Market Size Worth USD 12.57 Billion in 2028| Enhance Decision-making with Emergen Research's
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Market Size – USD 3.65 Billion in 2020, Market Growth – at a CAGR of 16.8%, Market Trends – Increasing adoption of smart water usage practices
VANCOUVER, BRITISH COLUMBIA, CANADA, June 13, 2023/EINPresswire.com/ -- The global connected agriculture market size is expected to reach USD 12.57 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing need to ensure food security and increase agricultural processes efficiency and productivity to meet rising global food demand. Increasing implementation of advanced technologies to manage, enhance, and control farming activities is expected to drive growth of the global connected agriculture market during the forecast period. Increasing adoption of IoT sensors to aid in crop monitoring and cultivation in order to enhance farm operations and optimize agricultural processes are other major factors driving market growth. Farmers are increasingly utilizing farm management systems as these assist, not only farmers, but other stakeholders in the field of agriculture, with collection of information and management by utilizing various tracking devices and sensors. Reliable financial data and production data management solutions and services offered by farm management systems and risk mitigation capabilities regarding weather has been resulting in increasing demand for and deployment, and this is driving growth of the global connected agriculture solutions market to a significant extent.
The connected agriculture market refers to the application of technology and connectivity in the agricultural sector to enhance efficiency, productivity, and sustainability. It involves the integration of various digital technologies such as the Internet of Things (IoT), sensors, drones, artificial intelligence (AI), and data analytics into agricultural practices.
By leveraging these technologies, connected agriculture aims to address key challenges faced by farmers and the agriculture industry as a whole. It enables real-time monitoring and management of crops, livestock, and agricultural machinery, allowing farmers to make data-driven decisions and optimize resource allocation.
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Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
IBM, Microsoft, AT&T, Deere & Company, SAP SE, Accenture, Cisco Systems, Inc., Oracle Corporation, Iteris, Inc. and Trimble Navigation
Market Dynamics:
The report offers insightful information about the market dynamics of the Connected Agriculture market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Connected Agriculture market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Connected Agriculture market.
Radical Highlights of the Connected Agriculture Market Report:
Comprehensive overview of the Connected Agriculture market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Connected Agriculture market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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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, AT&T, 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.
Connected Agriculture Market Segmentation:
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 Segmentation;
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)
In conclusion, the Connected Agriculture Market report is an exhaustive database that will help readers formulate lucrative strategies. The Connected Agriculture Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Connected Agriculture market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Connected Agriculture with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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