Connected Agriculture Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Connected Agriculture Market Report is segmented By Component (Solution, Platforms, Services), By Application (Pre-Production Planning and Management, In-Production Planning and Management, Post-Production Planning and Management), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030 

Connected Agriculture Market Overview

Connected Agriculture Market is expected to reach a high CAGR during the forecast period 2023-2030.

The Global Connected Agriculture Market report analyzes the global market size, shares, recent trends, competitive intelligence, and future market outlook. Connected agriculture is a modern approach to farming that uses information and communication technology to improve the efficiency and productivity of farming practices. The market is driven by increasing demand for food security and sustainable agriculture practices, particularly in developing regions such as Asia Pacific and Africa. Key players in the connected agriculture market include John Deere, Trimble Inc., Raven Industries, Inc., and other prominent players operating in the market.

Connected farming refers to the smart, advanced agricultural practices followed by the integration of innovative technologies to monitor, analyze and control agricultural activities, resulting in increased yield and quality of agricultural products. Advancements in digital technologies have made it possible to collect and leverage a large amount, which will help in making farming operations more insight-driven, and potentially more productive and efficient. To efficiently plan for harvesting, connected agriculture aims to provide real-time data on soil conditions, humidity levels, and weather conditions and also to enable farmers, agribusinesses, fertilizer companies, and food and beverage companies to communicate with potential buyers, traders, and sellers. By implementing various connected agricultural solutions, farmers and businesses will be able to do better time management at the farm level with less use of resources.

Connected Agriculture Market Scope

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Connected Agriculture Market Dynamics

Increasing demand for smart water management 

Water management for agriculture is an essential factor to inflate crop yields with decreased costs while contributing to environmental stability. Agriculture leaders are worried about the scarcity of water and are working on ways to improve the management of water in agriculture. Water management applications in connected agriculture, which embrace the IoT, mobile applications, big data analytics, and decision support system are servicing to produce eco-friendly and optimized agricultural outputs for a growing population. In connected agriculture, sensors, and IoT networks are programmed to collect data related to an individual plant’s water usage, total water usage, soil moisture, and others. Water management processes can also be automated with well-designed integrations to use basic water-saving techniques, allowing farmers time to manage manual work.

Moreover, mobile technology plays an important role in the worldwide adoption of connected farming techniques. More than 60 percent of farmers worldwide now use smartphones and tablet computers, according to the Farm Journal Media Survey in February 2015. The use of smartphones among farmers has been steadily rising since 2009 and is expected to grow extensively in the coming years. The smartphone has become a new farming tool for farmers around the world, as it is integrated with numerous agricultural-related user-friendly applications (apps). Smartphones help farmers gain accurate information on climate data and changes in the weather, helping them to prepare which crops to grow, when to harvest, and so on. For aerial imaging and record keeping, smartphones can be used, which tasks are recommended by experts. Growers can load field data and then, by using their cell phones, grid the details based on acres. The introduction of mobile technology into farm operations is therefore expected to provide the connected agricultural market with opportunities.

However, a lack of awareness among end users and high capital investment for establishing connected agriculture infrastructure is expected to act as a restraint for market growth.  Farmers or growers have to make huge investments in drones, Geographic Information Systems (GIS), and Global Positioning Systems (GPS) to collect input data, variable rate technology, and satellite devices, among others.

COVID-19 Impact on Connected Agriculture Market Growth

The spread of COVID-19 across the globe has contributed to supply chain disturbances across agricultural ecosystems, including the demand for connected agriculture. All 4 quarters of the financial year 2020 are expected to see negative growth. Some recovery is expected by the first quarter of 2021, and the market might start picking momentum by the end of 2021. In this scenario, it has been assumed that COVID-19 will have a minimum impact from the first quarter of 2021. Furthermore, the Covid-19 pandemic has deeply caused the agriculture sector as it slows down supply chains, delays logistics, and reduces workers in farmlands. Considering such a situation, we could say the virus has impacted the agriculture markets in a short period, but we also expect, the industry will quickly bounce back as governments are putting their efforts to ease the condition.

Connected Agriculture Market Segmentation Analysis

In-production management segment to augment the market growth

The globally connected agriculture market has been segmented by application into pre-production management, in-production management, and post-production management. The In-production management segment is expected to hold the largest share in the year 2019. The in-production management section of connected agriculture leads to a higher production rate with a lower cost per unit for good product quality. In-production management allows farmers to access real-time data to make proactive decisions that help in the production of effective yields. The pre-production management segment is expected to grow with a significant CAGR of xx% during the forecast period. It supports agricultural producers and businesses by providing relevant information and consulting about planning and management before production starts. 

Connected Agriculture Market Geographical Share

North America is expected to be holding the largest market share

By geography, North America is expected to dominate the globally connected agriculture market. Numerous government initiatives have been undertaken in developing countries such as US and Canada to encourage the implementation of advanced farming technologies, which has elevated North America’s connected agriculture market. Asia-Pacific is expected to be the fasted growing region in the globally connected agriculture market. Asia-Pacific is a decisive region in the global food chain market accounting for the highest amount of food and agricultural export. Countries in the region such as China, Japan, and India are embracing connected agricultural solutions for more sustainable use of available resources. The Department of Agriculture (DA) in the Philippines is evaluating the potential of drones in changing the way seeds are planted, the way fertilizers and pesticides are applied, and the way crops are monitored. Moreover, the Ministry of Japan set a goal to introduce agricultural drones for about half of the land planted with rice, wheat, and soy across Japan by 2022.

Connected Agriculture Companies and Competitive Analysis

The globally connected agriculture market is fragmented with the presence of several players across various regions. Some of the key players in the market are Cisco Systems Inc., IBM Corporation, SAP SE, Trimble Navigation Ltd, and Microsoft Corporation among others. The key players are focusing on strategies such as partnerships, acquisitions, agreements, product launches, and geographical expansions. For instance, Microsoft partnered with SlantRange, a leading provider of remote sensing and analytics system for agriculture. This partnership enabled SlantRange to offer new aerial measurements and data solutions for the agriculture industry. The Weather Company, an IBM business, partnered with one of the leading Indian agro startups, AgroStar. The partnership aims at transforming traditional agricultural operations in rural parts and enables farmers to make informed decisions to increase productivity. IBM partnered with Hello Tractor (an on-demand mobile platform providing tractors) to include several technologies, including the Watson Decision Platform for Agriculture, blockchain, the Internet of Things (IoT), and IBM Cloud, in the app.

Why Purchase the Report?

• Understand the current market scenario and viability of globally connected agriculture over the forecast period.
• Visualize the composition of the globally connected agriculture market in terms of components, applications to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market

What do we offer?

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Excel data sheet with valuable data points of the globally connected agriculture market – Regional and Country level segmentation
• Product mapping in Excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:

• Agriculture Technology Companies
• Farming Cooperatives
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals