Global connected agriculture market is estimated to rise 2026, registering a healthy CAGR of 18.7% in the forecast period of 2019-2026. Connected agriculture is an advanced farming solution which resolves many issues with the help of advanced technology such as mobile technology, sensors, satellite imagery, GPS and big data analytics.
Giant players are making farming smart by investing in cloud-based software in order to analyse various variables including sunlight, climate, nitrogen, soil moisture and pests. Latest technologies and developments would enhance the growth of connected agriculture.
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Major Market Competitors/Players
Few of the major competitors currently working in the global connected agriculture market are Cisco Systems, Inc., Decisive Farming, IBM Corporation, PTC, SAP SE, Trimble Inc., Microsoft, Vodafone Group, Accenture, AT&T Intellectual Property, LINK LABS, Orange Business Services, SYSPRO, Epicor Software Corporation, Deere & Company, Oracle, Iteris, Inc., SMAG, Ag Leader Technology, GAMAYA and others.
Segmentation: Global Connected Agriculture Market
- By Component (Solution, Platforms, Services)
- By Application (Pre-Production Planning and Management, In-Production Planning and Management, Post-Production Planning and Management)
- By Geography (North America, South America, Europe, Asia-Pacific and Middle East & Africa)
Competitive Analysis
Global connected agriculture market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of connected agriculture market for Global, Europe, North America, Asia Pacific, South America and Middle East and Africa.
Market Drivers:
- An increase in the farm yield and reduced dependency on labour is enhancing its market growth
- Initiatives taken by the government to improve the agriculture sector would boost the market
- Advancement in technology drives the market growth
- Increase in unpredictability of weather acts as a driver for this market
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Market Restraints:
- Least knowledge among farmers regarding connected agriculture is restraining the market growth
- Limited availability of arable land is hampering the market growth
- High cost of deployment is hindering the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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Related Reports:
The 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", 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.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=469728The pre-production planning and management segment is expected to hold a larger market size in the global connected agriculture market during the forecast periodInefficiencies 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 periodConnected 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.North America is estimated to have the largest market size during the forecast periodNorth America is estimated to account for the highest share of the market in 2018.
