Connected Agriculture Market: Current Analysis and Forecast (2021-2027)
$3999 – $6999
Emphasis on Component (Solutions, Services; Application (Pre-Production Planning & Management, In-Production Planning & Management, Post-Production Planning & Management); Region/ Country
The Connected Agriculture market is expected to register a CAGR of around 20% over the period of 2021-2027. Connected agriculture is defined as the use of advanced technology solutions and services to improve, manage, and control pre-production, in-production, and post-production agricultural activities. These technologies provide proper skills and many useful techniques like proper usage of seeds and fertilizers, farm production, weather forecasting, transporting, storing, food processing, etc. Moreover, the growing demand for Agri-mobile driven solutions coupled with telecom service providers focusing on offering connected agriculture solutions to provide real-time data to the end customers is further expected to support market adoption of connected agriculture solutions. The demand for connected agriculture is also influenced by the increasing demand for advanced farming solutions to maximize crop production with minimum resources such as water, fertilizers, and seeds. In addition, the implementation of various connected agriculture solutions has helped farmers to do better time and crop management.
Some of the major companies in the market are Microsoft Corporation, IBM Corporation, AG Leader Technology, Cisco Systems Inc., AT&T, Accenture PLC, Orange Business Services, SAP SE, Epicor Software Corporation, and Syspro Technologies.
Insights Presented in the Report
“Amongst Component, solutions category accounted for the majority share in the market in 2020”
Based on the component the market is segmented into solutions and services. The solution segment is expected to dominate the connected agriculture market as it enables remote monitoring through connected agriculture solutions and enables production yields to increase further allowing farmers to improve the growing process. Connected agriculture helps farmers to increase production output and improve the growing process. It also helps them to improve the quality of the crops grown, it also helps farmers to carry out financial transactions.
“Amongst Application, in production planning and management is expected to witness highest CAGR during the forecast period”
By Application, the market is segmented into pre-production planning & management, in-production planning & management, and post-production planning & management. The in-production management segment is expected to hold the majority of the market. Planning is an important factor due to the inherent uncertainty associated with whether, financial risk. the production management segment of connected agriculture helps in the production of good quality products and a higher rate of production. Production planning and management allow farmers to access real-time data to make proactive decisions that help in the production of effective yields.
“North America to witness significant growth during the forecast period”
North America is expected to dominate the connected agriculture market and is expected to retain the spot during the forecast period. A major reason for the growth is the presence of a large number of connected agriculture solutions vendors. Also, continuous advancements in technology and a reduction in prices of agricultural equipment are some of the growth factors for the connected agriculture market in North America. Farmers, growers, and traders in North America are moving toward digitalization through the adoption of agriculture solution, which utilizes various advanced technologies, such as IoT, AI big data, data analytics, and predictive analytics. Furthermore, there have been numerous government initiatives in countries like U.S. and Canada, to encourage the implementation of advanced farming technologies, which has further elevated North America’s connected agriculture market growth.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Connected Agriculture Market|
|2.2.||Research Methodology of the Connected Agriculture Market|
|2.5.||Main Objective of the Connected Agriculture Market Study|
|5||GLOBAL CONNECTED AGRICULTURE MARKET COVID-19 IMPACT|
|6||GLOBAL CONNECTED AGRICULTURE MARKET REVENUE (USD BN), 2019-2027F|
|8.1.||Pre-Production planning and management|
|8.2.||In-production planning and management|
|8.3.||Post-production planning and management|
|9.1.3.||Rest of north America|
|9.2.6.||Rest of Europe|
|9.3.5.||Rest of Asia-Pacific|
|9.4.||Rest of the World|
|11||CONNECTED AGRICULTURE MARKET OPPORTUNITIES|
|12||CONNECTED AGRICULTURE MARKET TRENDS|
|13||POLICY & REGULATORY FRAMEWORK|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porter’s Five Forces Analysis|
|17.3.||AG Leader Technology|
|17.4.||Cisco Systems Inc|
|17.7.||Orange Business Services|
|17.9.||Epicor Software Corporation|
Research Methodology for the Connected Agriculture Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the connected agriculture market were the three major steps undertaken to create and analyze the adoption of connected agriculture in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the connected agriculture market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the connected agriculture market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the connected agriculture market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as component and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the connected agriculture market. Further, we conducted factor analysis using dependent and independent variables such as various components and applications of connected agriculture. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Connected Agriculture market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Connected Agriculture market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of connected agriculture market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the connected agriculture market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the connected agriculture market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of components and applications in the Connected Agriculture market.
The main objective of the Connected Agriculture Market Study
The current & future market trends of the Connected Agriculture market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the connected agriculture market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of components and application
- Define and analysis of the regulatory framework for the connected agriculture market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the connected agriculture market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the Connected agriculture market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry