Connected agriculture is characterized as the use of advanced technology solutions and services to enhance, manage, and monitor the pre-production, in-production, and post-production activities of agriculture. There are four main stages in connected agriculture, namely data sensing, data communication, data storage, and data processing. The information produced from these measures enables different stakeholders, such as farmers, growers, livestock producers, agricultural cooperatives, agribusinesses, grape growers, seed companies, fertilizer companies, food and beverage companies, and governments, to take real-time decisions to increase their Return on Investment (RoI).
The global connected agriculture market revenue is projected to reach close to USD 11,211.6 Million by 2028. This can be attributed to the need for increased production per yield and increased government initiatives to adopt new technologies.
However, the high capital investment for establishing connected agriculture infrastructure is likely to hamper the market growth. Furthermore, increasing the adoption of sensors, IoT, and advanced farming techniques in agriculture is anticipated to be an opportunity for the connected agriculture market.
Key Segments of the Global Connected Agriculture Market
Component Overview, 2018-2028 (USD Million)
Platform Overview, 2018-2028 (USD Million)
- Device Management
- Application Enablement
- Connectivity Managemen
Service Overview, 2018-2028 (USD Million)
- Integration and Implementation
- Support and Maintenanc
Application Overview, 2018-2028 (USD Million)
- Pre-Production Planning and Management
- In-Production Planning and Management
Region Overview, 2018-2028 (USD Million)
- Rest of Europ
- Rest of Asia-Pacifi
Middle East and Africa
- South Africa
- Rest of Middle East and Afric
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global connected agriculture market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global connected agriculture market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the connected agriculture industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global connected agriculture market. The report will benefit every stakeholder involved in the connected agriculture market.
- Managers within the connected agriculture industry looking to publish recent and forecasted statistics about the global connected agriculture market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global connected agriculture market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Connected agricultural marketing is dependent upon the provision of resources engaged in the enhancement of agricultural production from farm to consumer. It is also the planning, systematization, administration, and management of agricultural production in such a way as to satisfy the specifications of the farmer, the producer, and the purchaser. This includes a range of consistent tasks, such as transport, grading, growing and harvesting, procurement, production preparation, packing and manufacturing, storage and food processing, sales, and advertisement. Considering the advancement of agricultural marketing, particularly in developing countries, there is a trend to focus on a variety of areas, in particular, infrastructure expansion; knowledge requirements; structured training of farmers and dealers in the sale and post-harvest concerns; and support for the expansion of an effective policy setting. The concept encompasses the entire spectrum of supply chain activities.
In terms of platform, the market is bifurcated into device management, application enablement, and connectivity management. The device management segment is estimated to acquire significant market share during the forecast period. This is mainly attributed to its increasing adoption as it assists organizations to manage, track, secure, and sustain abundant devices that are used in connected agriculture deployment. Besides, the growing requirement for access and control over connected devices is expected to further fuel the market growth.
Based on the application segment, the market is segmented into pre-production planning and management, in-production planning and management, and processing. The in-production planning and management segment leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. In-production planning and management of applications include water and irrigation management, planting and feed management, seed hunting, production and maintenance control, animal tracking and navigation, and agricultural finance and insurance administration.
The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. However, the Asia-Pacific region is anticipated to gather the highest growth over the forecast years. The market growth in this region is mostly ascribed to the growing need among agriculture stakeholders to adopt smart techniques to fuel the market growth in this region. Besides, initiatives by agriculture committees and organizations are also boosting the market growth in this region.
The major players of the global connected agriculture market are IBM, Microsoft, AT&T, Deere & Company, SAP SE, Accenture, Cisco, Oracle, Iteris, and Trimble. Moreover, the market comprises several other prominent players in the connected agriculture market that are SMAG, Ag Leader Technology, and Decisive Farming. The connected agriculture market consists of well-established global as well as local players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.