Connected Agriculture Market Highlights
Connected agriculture uses the mobile communications to enables the farmers to provide vital information such as weather forecasting, crop failure, best quality of seeds, soil moisture and quality, tools, and techniques, and offers greater accessibility of financial payments. Increasing demand for the mobile-based solutions and rising number of telecom service providers are expected to drive the connected agriculture market over the forecast period. Furthermore, advancement of technology such as the merging of the Internet of things with agriculture is presumed to be an opportunity for the connected agriculture market over the forecast period.
According to Market Research Future Analysis, connected agriculture market has been valued at ~USD 3 billion at 17% of CAGR during the forecast period, 2017-2023.
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Key Players
Market Research Future (MRFR) identifies the following companies as the key in connected agriculture Market are AG Leader Technology (U.S), Microsoft Corporation (U.S), IBM Corporation (U.S), Cisco Systems Inc (U.S), AT&T (U.S), Accenture PLC (Ireland), SAP A.G (Germany), Orange Business Services (France), Epicor Software Corporation (U.S). Vodafone Group PLC (U.K), SAGE (U.K), Syspro Technologies (U.S), Raven Industries, Inc (U.S), AGCO Corporation (U.S).
Regional analysis
Geographically, electronic article surveillance market has been bifurcated into North-America, Europe, Asia-Pacific Latin-America, and Middle-East & Africa.
The North American region is expected to lead the globally connected agriculture market over the forecast period due to advanced network infrastructure and the presence big IT firms such as Microsoft Corporation, Cisco System Inc, which are investing heavily on the research and developments for the connected agriculture to evolve enhanced agricultural techniques for the farmers. The U.S. and Canada are the leading countries in the North American region. Asia Pacific region is expected to have a significant growth over the forecast period owing to the presence of emerging economies such as India and China in the region, increasing number of telecom providers and mobile subscribers, and better ranking position, ease of doing business in India.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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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.
