Overview and Scope
Connected agriculture refers to the use of digital technologies and the Internet in agriculture, and it is software that aids in setting up, controlling, and keeping track of Internet of Things (IoT) gadgets used in farming operations. Connected agriculture is used for the coordination of the many automated processes as well as the collection of all farm data, which is then analyzed by a centralized system to alert the farmer to potential threats or just for guidance.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The connected agriculture market report table of contents includes:
1. Executive Summary
2. Connected Agriculture Market Characteristics
3. Connected Agriculture Market Trends And Strategies
4. Connected Agriculture Market – Macro Economic Scenario
5. Global Connected Agriculture Market Size and Growth
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26. South America Connected Agriculture Market
27. Brazil Connected Agriculture Market
28. Middle East Connected Agriculture Market
29. Africa Connected Agriculture Market
30. Connected Agriculture Market Competitive Landscape And Company Profiles
Top Major Players:
- Cisco Systems Inc
- IBM Corporation
- SAP SE
- Trimble Navigation Ltd
- Vodafone PLC
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