What is Connected Agriculture Market Scope?
Connected Agriculture is defined as technological solutions which define as smart farming. As the agriculture industry is witnessing another shift due to technologies of the industry 4.0. The farming is benefits from technology advancements from planting and watering to crop health and harvesting. These technologies fall into three categories such as autonomous robots, drones or UAVs, and sensors and the IoT. The developed countries are taking initiatives for improvement of the growth of the agriculture sector, Such as federal programs like the Canadian Agriculture Partnership, a five year deal with USD 3 billion investment program has been launched by the federal government as of March 2019.
Influencing Trend:
Increase Adoption of Digital Farming Solution to Improve Risk Management and Value Chain Efficiency and Technology Advancement Such As Increase Broadband Connectivity in the United States
Market Growth Drivers:
Increase Demand of Linking Agriculture Value Chain by Agriculture Smart Holders Such As Banks, Insurance and Others and Increasing Government Initiatives from Developed Countries Including Australia and Canada in the Agriculture Sector
Challenges:
Lack of Skilled Manpower and Lack of Industrial Standards for Data Management Applications in Connected Agriculture
Restraints:
High Capital Investment Required and Lack of Connecting Services for the Connected Agriculture
Opportunities:
Increase Demand from Canada, Due To Increasing Exporters of Agri-Foods Products, Expansion of Smartphone and Internet Penetration and Increase the Adoption of Technologies
The Connected Agriculture market study is being classified by Type (Network Management, Smart Water Management and Others), by Application and major geographies with country level break-up.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Connected Agriculture market throughout the predicted period.
IBM (United States), Microsoft (United States), AT&T (United States), Deere & Company (United States), SAP SE (Germany), Accenture (Ireland), Cisco (United States), Oracle (United States), Iteris (United States) and Trimble (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are SMAG (France), Ag Leader Technology (United States), Decisive Farming (Canada), Gamaya (Switzerland) and SatSure (United Kingdom.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Connected Agriculture market by Type, Application and Region.
On the basis of application, Precision Farming segment is dominating the market in the year 2023 where as Precision Livestock segment stood as second largest market.
On the basis of geography, the market of Connected Agriculture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region hold largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Market Influencers and their Development Strategies
In November 2023, Bayer & Microsoft partnered on cloud-based platform. This collaboration aimed to develop a digital platform for farmers to manage data, access insights, and connect with agricultural solutions.
On Jun 14, 2023, Trimble introduced the Connected Farm solution. This suite of connected devices and software aims to provide farmers with real-time data on their fields and livestock.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Connected Agriculture service provider, Government Regulatory and Research Organizations and End-Use Industries
Connected Agriculture Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Analyst View
Research Says, "To segment this market, we opted geographic and demographic segmentation approach. Through which we can see the market in terms of consumer adoption and find out the penetration rate of this technology in agriculture sector.."
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Connected Agriculture Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Connected Agriculture industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.