According to the most recent report by Emergen Research, the size of the worldwide connected agricultural market is anticipated to reach USD 12.57 billion in 2028 and exhibit a consistent CAGR throughout the projected period. The growing requirement to secure food security and boost agricultural productivity and efficiency to meet rising global food demand is the primary cause of the market’s steady revenue growth. During the forecast period, it is anticipated that there will be a rise in the use of cutting-edge technologies to manage, improve, and regulate farming operations.
Other significant factors propelling market expansion include the growing use of IoT sensors to help with crop monitoring and cultivation, improve farm operations, and optimise agricultural processes. Farmers are using farm management systems more and more because they help with data gathering and management by utilising a variety of tracking devices and sensors. These systems are used by both farmers and other stakeholders in the agriculture industry. The market for connected agriculture solutions is being significantly fueled by the growing demand for reliable financial data, production data management solutions and services provided by farm management systems, and risk mitigation capabilities surrounding weather.
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Competitive Outlook:
The global Connected Agriculture market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Connected Agriculture market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Key companies profiled in the report include:
IBM, Microsoft, AT&T, Deere & Company, SAP SE, Accenture, Cisco Systems, Inc., Oracle Corporation, Iteris, Inc., and Trimble Navigation.
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Key Highlights from the Report
A multiyear strategic agreement between Land O’Lakes Inc. and Microsoft Corp. was announced in July 2020 with the goals of launching new agricultural innovations, enhancing farmer sustainability practises, streamlining the supply chain, and closing the rural broadband divide. The strategic cooperation is anticipated to provide solutions that would aid in boosting farmers’ potential for profit and encourage the adoption of sustainable farming methods.
In 2020, the platforms category accounted for the biggest revenue share. Demand for device management platforms is expected to increase in the future due to the increasing necessity to continuously monitor and remotely control smart agriculture equipment used in connected agriculture systems.
Revenue growth in the pre-production planning and management segment is anticipated to accelerate throughout the forecast period. Pre-production planning and management strategies are being used more frequently as a result of the growing requirement to reduce pest and disease outbreaks as well as planting inefficiencies.
The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented the global connected agriculture market on the basis of component, application, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
Services
Solution
Platforms
Application Outlook (Revenue, USD Billion; 2018–2028)
Pre-Production Planning and Management
In-Production Planning and Management
Post-Production Planning and Management
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Key geographical areas:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Market Taxonomy:
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Data Sources
Chapter 2:
Executive Summary
Business trends
Regional trends
Product trends
End-use trends
Chapter 3:
Industry Insights
Industry segmentation
Industry landscape
Vendor matrix
Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
Business Overview
Financial Data
Product Landscape
Strategic Outlook
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