The connected agriculture global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Connected Agriculture Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The connected agriculture market size has grown rapidly in recent years. It will grow from $3.1 billion in 2023 to $3.63 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to increasing global population, demand for sustainable agriculture practices, government initiatives and subsidies, climate change and weather variability, globalization of agriculture markets, improving connectivity infrastructure.
The connected agriculture market size is expected to see rapid growth in the next few years. It will grow to $6.53 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to focus on soil health monitoring, efforts to bridge the digital divide, focus on yield optimization, environmental conservation initiatives, smart irrigation systems. Major trends in the forecast period include adoption of iot technologies, precision farming practices, use of drones and uavs, smart irrigation systems, farm management software, emergence of agri-tech startups, telematics in equipment monitoring.
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Scope Of Connected Agriculture Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Connected Agriculture Market Overview
Market Drivers –
Increasing demand for crops is expected to propel the growth of the connected agriculture market going forward. Crops, in agriculture, refer to a plant or plant product that can be widely cultivated and harvested for income or dietary needs. Connected agriculture helps boost crop yields from existing land by tracking, evaluating, controlling, and ultimately enhancing crucial agricultural processes at all points in the farming cycle. For instance, India sets the target for total food grain production at 328 million tonnes for the years 2022–23, compared to 316 million tonnes of total food grain production in 2021–22. Therefore, increasing demand for crops will drive the growth of the connected agriculture market.
Market Trends –
Technological advancements have emerged as a key trend gaining popularity in the connected agriculture market. Major companies operating in the connected agriculture market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, John Deere, a US-based manufacturer of agricultural machinery and heavy equipment introduced “”Work Planner”” as a centralized tool to its operations center platform. As part of the most recent updates to John Deere’s Digital Ecosystem, the ‘Work Planner’ software is being made available online. For the operator, this means that as soon as they pull into a paddock, a pop-up window on the Generation 4 Command Center opens with the work plan for that field, and they may start collecting data by clicking one button. Work Planner enables users to monitor equipment and fieldwork from anywhere using the Operations Center mobile app.
The connected agriculture market covered in this report is segmented –
1) By Component: Solution, Platforms, Services
2) By Platform: Device Management, Application Enablement, Connectivity Management
3) By Application: Farm Planning And Management, Smart Logistics, Agriculture Finance, Smart Irrigation
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Regional Insights –
North America was the largest region in the connected agriculture market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the connected agriculture market report are Cisco Systems Inc., IBM Corporation, SAP SE, Trimble Navigation Ltd., Vodafone plc, Microsoft Corporation, American Telephone and Telegraph Inc., Deere & Company, Iteris Inc., Ag Leader Technology, Decisive Farming Corp., SWIIM System Ltd., Oracle Corporation, Fujitsu Limited, Hexagon AB, Raven Industries Inc., Topcon Corporation, AgJunction Inc., Agribotix LLC, CropX Inc., Granular Inc., PrecisionHawk Inc., The Climate Corporation, TerrAvion Inc., Descartes Labs Inc., Farmers Edge Inc., Mavrx Inc., Sentera Inc., Absolute Agronomy LLC, AgNext Technologies Private Limited, DeHaat, Cropin Technology Solutions, RML AgTech Pvt. Ltd.
Table of Contents
1. Executive Summary
2. Connected Agriculture Market Report Structure
3. Connected Agriculture Market Trends And Strategies
4. Connected Agriculture Market – Macro Economic Scenario
5. Connected Agriculture Market Size And Growth
…..
27. Connected Agriculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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