A recent report published by Infinium
Global Research on the connected agriculture market provides an in-depth analysis of
segments and sub-segments in the global as well as regional connected
agriculture market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional connected
agriculture market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of globally
connected agriculture market. According to the report, the global connected
agriculture market was nearly sized USD 2 billion in 2020 and is expected to
reach USD 7.5 Billion by 2026, growing with a CAGR of 25% over the forecast
period of 2020-2026.
The primary role of connected
agriculture is to gather data that is analyzed and important insights are
obtained. These insights help in the efficient use of scarce resources and to
obtain maximum yield from the farm. With the help of sensors and measuring
probes the connected farming is carried out. Planning and management of farm
activities become easier due to connected farming. Through connected farming
autonomous farming machines, the equipment can be remotely controlled without
any human intervention. Moreover, connected farming is also executable through
mobile applications installed on smartphones. Connected farming helps in
bringing down costs and in making farming profitable. Sharing of best
agricultural practices becomes possible due to a large number of users that are
connected to each other through connected farming.
Covid-19 pandemic adversely affected
agricultural activities. In countries where the agricultural sector primarily
uses labor were the worst hits. Therefore, the importance of connected farming
was highlighted. The awareness regarding connected farming grew immensely
during the pandemic. As connected farming involves minimal human intervention,
therefore, the human to human contact is rare which negates the danger of
contracting the Covid-19 virus. As the world is hit by successive waves of the
Covid-19 pandemic the connected farming is expected to experience high growth.
The only adverse effect the Covid-19 pandemic had on the market was the
disruption in the services and solutions provided by the manufacturers. The
maintenance services of the solutions and platforms involved in connected
farming were affected due to restrictions imposed by public authorities to
combat the Covid-19 pandemic.
The accessibility to technology is
increasing day by day. The new entrants in the market are responsible for this
increased accessibility. They provide solutions and services at the very
micro-level of the agricultural industry. The economies around the world are
becoming more integrated with each other so it becomes easier for the companies
to provide their solutions and services to every corner of the world.
Governments around the world are providing incentives to technology companies
to enter the markets of their respective nations. This is facilitating in
making technology easily accessible. Rising internet penetration is also
driving the market.
Internet is an important medium of
connectivity in connected agriculture. The prices of the internet are declining
continuously. Several telecom service providers are offering internet plans
specifically for connected agriculture. As the infrastructure of the telecom
sector grows the connectivity of the internet also increases. The most
important factor that is driving the market is the growing awareness of
connected agriculture. People are becoming more aware of the advantages
provided by connected farming. The advantages include accurate crop yield data,
proper management of available resources, effective pest and disease control,
and many others. The high cost associated with the deployment of connected
agriculture solutions and services is restraining the market. These solutions
and services are still not affordable in most developing countries. New
technological advancements are expected to provide the market with new
opportunities.
North America is expected to hold a
major share of the market. Asia-Pacific is expected to be the fastest-growing
region in the market. The use of technology in agriculture is conventionally
high in North America region. Extensive agriculture is the most common practice
in this region. Also the fragmentation of the land in North America is very
less. This makes connected farming more practical. The number of companies
providing connected agriculture services and solutions is also high in the
region. The awareness of connected agriculture is rising rapidly in the
Asia-Pacific. The penetration of the internet is also high in the region.
The report on globally connected
agriculture market covers segments such as component, and application. On the
basis of component, the sub-markets include platforms, solution, and services.
On the basis of application, the sub-markets include smart irrigation, smart
logistics, farm planning, field mapping, crop monitoring, and others.
The report provides profiles of the
companies in the market such as Cisco Systems, Inc., IBM Corporation, Microsoft
Corporation, SAP SE, AG Leader Technology, Vodafone Group PLC, Accenture PLC,
Raven Industries, Inc., Trimble Navigation Ltd., and Hexagon AB.
The report provides deep insights into
the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of connected agriculture market. Moreover, the study highlights
current market trends and provides forecast from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.