The Connected Agriculture market accounted for USD 1.4 Billion in 2020 and is expected to reach USD 5.8 Billion by 2028, growing at a CAGR of 19.9% from 2021 to 2028.
Market Overview
The Connected Agriculture market accounted for USD 1.4 Billion in 2020 and is expected to reach USD 5.8 Billion by 2028, growing at a CAGR of 19.9% from 2021 to 2028.
Connected agriculture is defined as the use of advanced technological solutions and services to improve, manage, and control the farming activities involved in pre-production, in-production, and post-production. Connected agriculture comprises 4 major steps, namely, data sensing, data communications, data storage, and data processing. The information generated from these steps helps various stakeholders, such as farmers, growers, livestock producers, farming cooperatives, agribusinesses, grape wine growers, seed companies, fertilizer companies, food and beverage companies, and governments, to make real-time decisions that help maximize their Return on Investment.
For Instance, December 2018 - IBM partnered with Hello Tractor (on-demand mobile platform providing tractors) to include several technologies, including the Watson Decision Platform for Agriculture, blockchain, the Internet of Things and IBM Cloud, to the app.
COVID-19 Impact Analysis
The precision farming market is likely to increase in the long term after the COVID-19 outbreak, as precision farming makes it possible to monitor the state of the crops while not being physically present through the usage of automation, minimizing the need to contact other people, which is crucial during these times. This farming is an approach where inputs are utilized in precise amounts to get increased average yields, compared to traditional cultivation techniques. However, in the short term, COVID-19 would affect the market and the growth of the market would be relatively slower in the first and second quarters of the year 2020 due to economic slowdown and inflation.
These practices save time and costs: reduce fertilizer and chemical application costs; reduce pollution through less use of chemicals. Also, they help in monitoring the soil and plant physiochemical conditions: by placing sensors to measure parameters such as electrical conductivity, nitrates, temperature, evapotranspiration, radiation, and leaf and soil moisture, so that the optimal conditions required for plant growth can be achieved. These factors help to obtain a greater output with limited labor force during this pandemic situation where there is a shortage of labor and thus would help in a regular supply of food, thereby ensuring food security.
Growth Factors
Rising demand for advanced farming solutions to improve the agricultural productivity is an important factor fostering the growth of market. Rising initiatives by the government to improve the overall scenario of agricultural sector is another important factor fostering the growth of the market. Upsurge in the demand for field management, inventory management and labor management solutions have further generated lucrative growth opportunities for the underground utility mapping market.
Report Scope :
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Solution Segment Analysis Preview
On the basis of Solution, the connected agriculture market is segmented into network management, agriculture asset management, supervisory control and data acquisition, logistics and supply chain management and smart water management. Network Management segment is further bifurcated into remote monitoring, network bandwidth management, analytics and network and application security. Platforms segment is sub-segmented into device management, application enablement and connectivity management. Services segment is sub-segmented into consulting, integration and implementation and support and maintenance.
Application Segment Analysis Preview
On the basis of application, the connected agriculture market is segmented into smart logistics and smart irrigation. Smart Logistics management segment is sub-segmented into field mapping, crop planning and yield monitoring, weather tracking and forecasting, farm labour management and equipment monitoring and maintenance. In-production planning and management segment is sub-segmented into water and irrigation management, breeding and feed management, crop scouting, production monitoring and maintenance, animal tracking and navigation and agro-finance and insurance management. Smart Irrigation management segment is sub-segmented into processing, inventory management, transportation and quality assurance and control.
Regional Analysis Preview
North America dominates the connected agriculture market and is set to continue to flourish its dominance during the forecast period as well. This is because of the increased adoption of connected agriculture by the small and marginal farmers. Large scale availability of advanced agricultural and farming equipment is fostering the market growth across countries in this region. However, it is Asia-Pacific that is set to score the highest CAGR for the forecast period owing to the growing investment in connected agriculture and implementation of cloud based solutions.
The countries covered in the connected agriculture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Key Market Players & Competitive Landscape
Some of key players in Connected Agriculture market are Cisco Systems, Inc., IBM, Decisive Farming., SAP SE, Trimble Inc., Microsoft, PTC, Vodafone Group, Accenture, AT&T Intellectual Property., LINK LABS., Orange Business Services, SYSPRO, Epicor Software Corporation, Oracle, Iteris, Inc., Deere & Company., Ag Leader Technology, SMAG and Gamaya among others.
Companies are focusing on developing new products and developing strategic partnerships to enhance their market share. For instance, December 2018 - IBM partnered with Hello Tractor (on-demand mobile platform providing tractors) to include several technologies, including the Watson Decision Platform for Agriculture, blockchain, the Internet of Things and IBM Cloud, to the app.
The Connected Agriculture market is segmented as follows:
By Application
By Service
By Solution
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Application
FIG NO. 2. Market Attractiveness Analysis, By Solution
FIG NO. 3. Market Attractiveness Analysis, By Service
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Connected Agriculture Market Revenue, 2020 – 2028
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 8. Global Connected Agriculture Market for Smart Logistics, Revenue 2020 – 2028
FIG NO. 9. Comparative Revenue Analysis of Connected Agriculture Market for Smart Logistics, By Country, 2020 & 2028
FIG NO. 10. Global Connected Agriculture Market for Smart Irrigation, Revenue 2020 – 2028
FIG NO. 11. Comparative Revenue Analysis of Connected Agriculture Market for Smart Irrigation, By Country, 2020 & 2028
FIG NO. 12. Market Revenue Share, By Solution, 2020 & 2028
FIG NO. 13. Global Connected Agriculture Market for Trading, Revenue 2020 – 2028
FIG NO. 14. Comparative Revenue Analysis of Connected Agriculture Market for Trading, By Country, 2020 & 2028
FIG NO. 15. Global Connected Agriculture Market for Tendering, Revenue 2020 – 2028
FIG NO. 16. Comparative Revenue Analysis of Connected Agriculture Market for Tendering, By Country, 2020 & 2028
FIG NO. 17. Global Connected Agriculture Market for Bartering, Revenue 2020 – 2028
FIG NO. 18. Comparative Revenue Analysis of Connected Agriculture Market for Bartering, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Service, 2020 & 2028
FIG NO. 20. Global Connected Agriculture Market for Micro Lending Services, Revenue 2020 – 2028
FIG NO. 21. Comparative Revenue Analysis of Connected Agriculture Market for Micro Lending Services, By Country, 2020 & 2028
FIG NO. 22. Global Connected Agriculture Market for Micro Insurance Services, Revenue 2020 – 2028
FIG NO. 23. Comparative Revenue Analysis of Connected Agriculture Market for Micro Insurance Services, By Country, 2020 & 2028
FIG NO. 24. Global Connected Agriculture Market for Mobile Payment Services, Revenue 2020 – 2028
FIG NO. 25. Comparative Revenue Analysis of Connected Agriculture Market for Mobile Payment Services, By Country, 2020 & 2028
FIG NO. 26. Global Connected Agriculture Market for Mobile Information Services, Revenue 2020 – 2028
FIG NO. 27. Comparative Revenue Analysis of Connected Agriculture Market for Mobile Information Services, By Country, 2020 & 2028
FIG NO. 28. Global Connected Agriculture Market for Others, Revenue 2020 – 2028
FIG NO. 29. Comparative Revenue Analysis of Connected Agriculture Market for Others, By Country, 2020 & 2028
FIG NO. 30. Global Connected Agriculture Market Revenue Share, By Region, 2020 & 2028
FIG NO. 31. North America Connected Agriculture Market Revenue, 2020 - 2028
FIG NO. 32. Porter’s Five Forces Analysis for Global Connected Agriculture Market
FIG NO. 33. PEST Analysis for Global Connected Agriculture Market
FIG NO. 34. Pricing Analysis for Global Connected Agriculture Market
FIG NO. 35. Value Chain Analysis for Global Connected Agriculture Market
FIG NO. 36. Company Share Analysis, 2019
FIG NO. 37. Radar Determinant Chart, 2019
FIG NO. 38. Company Strategic Developments – Heat Map Analysis
FIG NO. 40. Cisco Systems Inc.
FIG NO. 41. IBM Decisive Farming.
FIG NO. 42. SAP SE Trimble Inc.
FIG NO. 43. Microsoft PTC Vodafone Group Accenture.
FIG NO. 44. AT&T Intellectual Property. LINK LABS.
FIG NO. 45. Orange Business Services SYSPRO
FIG NO. 46. Epicor Software Corporation Oracle Iteris Inc.
FIG NO. 47. Deere & Company.
FIG NO. 48. Ag Leader Technology SMAG
FIG NO. 49. Gamaya Geographical Segment Revenue Share, 2020 (%)
FIG NO. 50. Market Channels
FIG NO. 51. Marketing Channel Development Trend
FIG NO. 52. Growth in World Gross Product, 2008-2018
FIG NO. 53. Research Methodology – Detailed View
FIG NO. 54. Research Methodology
List of Tables
TABLE NO. 1. Global Connected Agriculture Market: Snapshot
TABLE NO. 2. Quarterly Connected Agriculture Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Connected Agriculture Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028
TABLE NO. 6. Global Connected Agriculture Market for Smart Logistics, by Region, 2020 – 2028
TABLE NO. 7. Global Connected Agriculture Market for Smart Irrigation, by Region, 2020 – 2028
TABLE NO. 8. Global Connected Agriculture Market for Trading, by Region, 2020 – 2028
TABLE NO. 9. Global Connected Agriculture Market for Tendering, by Region, 2020 – 2028
TABLE NO. 10. Global Connected Agriculture Market for Bartering, by Region, 2020 – 2028
TABLE NO. 11. Global Connected Agriculture Market for Micro Lending Services, by Region, 2020 – 2028
TABLE NO. 12. Global Connected Agriculture Market for Micro Insurance Services, by Region, 2020 – 2028
TABLE NO. 13. Global Connected Agriculture Market for Mobile Payment Services, by Region, 2020 – 2028
TABLE NO. 14. Global Connected Agriculture Market for Mobile Information Services, by Region, 2020 – 2028
TABLE NO. 15. Global Connected Agriculture Market for Others, by Region, 2020 – 2028
TABLE NO. 16. Global Connected Agriculture Market Revenue, By Region, 2020 – 2028
TABLE NO. 17. North America Connected Agriculture Market Revenue, By Country, 2020 – 2028
TABLE NO. 18. North America Connected Agriculture Market Revenue, By Application, 2020 – 2028
TABLE NO. 19. North America Connected Agriculture Market Revenue, By Solution, 2020 – 2028
TABLE NO. 20. North America Connected Agriculture Market Revenue, By Service, 2020 – 2028
TABLE NO. 21. U.S. Connected Agriculture Market Revenue, By Application, 2020 – 2028
TABLE NO. 22. U.S. Connected Agriculture Market Revenue, By Solution, 2020 – 2028
TABLE NO. 23. U.S. Connected Agriculture Market Revenue, By Service, 2020 – 2028
TABLE NO. 24. Canada Connected Agriculture Market Revenue, By Application, 2020 – 2028
TABLE NO. 25. Canada Connected Agriculture Market Revenue, By Solution, 2020 – 2028
TABLE NO. 26. Canada Connected Agriculture Market Revenue, By Service, 2020 – 2028
TABLE NO. 27. Mexico Connected Agriculture Market Revenue, By Application, 2020 – 2028
TABLE NO. 28. Mexico Connected Agriculture Market Revenue, By Solution, 2020 – 2028
TABLE NO. 29. Mexico Connected Agriculture Market Revenue, By Service, 2020 – 2028
TABLE NO. 30. Drivers for the Connected Agriculture Market: Impact Analysis
TABLE NO. 31. Restraints for the Connected Agriculture Market: Impact Analysis
TABLE NO. 32. Major Buyers of Connected Agriculture
TABLE NO. 33. Distributors/Traders List of Connected Agriculture
TABLE NO. 34. Global Connected Agriculture Market, Company Market Revenue, 2016 – 2019
TABLE NO. 35. Global Connected Agriculture Market, Company Y-o-Y Growth, 2017 – 2019
The Connected Agriculture market was valued at USD 1.4 Billion in 2020.
The Connected Agriculture market is expected to reach USD 5.8 Billion by 2028, growing at a CAGR of 19.9% between 2021 to 2028.
Some of the key factors driving the Connected Agriculture market growth are Rising demand for advanced farming solutions to improve the agricultural productivity is an important factor fostering the growth of market. Rising initiatives by the government to improve the overall scenario of agricultural sector is another important factor fostering the growth of the market. Upsurge in the demand for field management, inventory management and labor management solutions have further generated lucrative growth opportunities for the underground utility mapping market.
North America dominates the connected agriculture market and is set to continue to flourish its dominance during the forecast period as well. This is because of the increased adoption of connected agriculture by the small and marginal farmers. Large scale availability of advanced agricultural and farming equipment is fostering the market growth across countries in this region. However, it is Asia-Pacific that is set to score the highest CAGR for the forecast period owing to the growing investment in connected agriculture and implementation of cloud based solutions.
Some of key players in Connected Agriculture market are Cisco Systems, Inc., IBM, Decisive Farming., SAP SE, Trimble Inc., Microsoft, PTC, Vodafone Group, Accenture., AT&T Intellectual Property., LINK LABS., Orange Business Services, SYSPRO, Epicor Software Corporation, Oracle, Iteris, Inc., Deere & Company., Ag Leader Technology, SMAG and Gamaya among others.
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