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Connected Agriculture Market to Rise at 19.1% CAGR till 2026; Increasing Number of Company Collaborations Will Create Several Opportunities for Growth

February 04, 2020 | Information & Technology

The global connected agriculture market size is projected to reach USD 7.22 billion by the end of 2026. The demand for smart water management will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Connected Agriculture Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Application (Pre-Production Management, In-Production Management, Post-Production Management) and Regional Forecast, 2019-2026,” the market was worth USD 1.84 billion in 2018 and will exhibit a CAGR of 19.1% during the forecast period, 2019-2026.


Connected agriculture is the implementation of advanced technologies to simplify and manage agricultural and farming activities. The need for improving the produce and yield of agricultural crop has led to rapid adoption of these technologies across the world. The primary aim of using connected agriculture is reducing overall costs and simultaneously preserve energy as well as maximize produce.


Increasing Investment in Product R&D to Aid Growth


From real-time data implementation, sensors, moisture examination, to climatic conditions, connected agriculture is used to enhance the overall farming. This technology can be used to minimize soil, water, and seeds. The properties of connected agriculture have allowed flexible applications. The increasing awareness regarding energy conservation has emerged in favor of the companies operating in the global connected agriculture market in recent years. The increasing investment in the research and development of advanced machines associated with connected agriculture will influence the growth of the market in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/connected-agriculture-market-102061


Company Collaborations are an Increasing Trend Among Major Companies


The report encompasses several factors that have contributed to the growth of the market in recent years. Due to the massive potential held by this industry, tech-companies are looking to deviate from core operations and invest in agriculture. Moreover, core agriculture-based companies are looking to collaborate with IT companies in a bid to bettering their products. Microsoft’s collaboration with SlantRange was a major highlight of recent times. In 2018, Microsoft announced that through collaboration with SlantRange, it plans to bring a new set of scalable aerial measurements. This will not only help the company generate a substantial connected agriculture market revenue, but will have a direct impact on the growth of the market in the coming years.


Increasing Demand for Smart Water Management Will Benefit the Market


Water management is vital in all forms of agricultural activities. Increasing water shortages will create a huge demand for agriculture equipment that maximizes the use of water. The use of the internet of things (IoT), data analytics, and mobile apps will yield several techniques that will enable lesser water consumption. The use of automated technologies that can examine and manage the water levels and usage will aid the growth of the market in the forthcoming years.


Leading Companies Are Focused on Implementing Advanced Agricultural Solutions Catering to Environmental Preservation


Gamaya, a provider of large-scale monitoring and diagnostics of crop for precision agriculture, is one of the leading companies in the market. The company is focused on helping farmers and agriculture businesses alike, through collection of extensive space-born images. Besides Gamaya, a few of the other companies that are operating in the market are include:



  • IBM Corporation

  • Microsoft

  • Cisco Systems Inc.

  • Iteris Inc.

  • Trimble Inc.

  • Ag Leader Technology

  • Decisive Farming

  • SWIIM System, Ltd.

  • Orange Business Services

  • LINK LABS.


Further Report Findings:



  • The market is segmented on the basis on the basis of several criteria, including component, application, and regional demographics.

  • The solution-based component will emerge leading, driven by the demand for remote monitoring through connected agriculture process.

  • Among the applications of connected agriculture, the in-production management segment emerged dominant, with more than half of the overall market share. The pre-production segment held 18.2% of the connected agriculture market share in 2018 and this value is likely to increase further in the coming years.

  • The report analyzes the ongoing connected agriculture market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, North America is projected to emerge dominant, with an estimated market value of USD 2,353.9 million by the end of 2026.


The global connected agriculture market is segmented on the basis of:








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Component



  • Solution

  • Services

    • Consulting

    • Integration and Implementation

    • Support and Maintenance





By Application



  • Pre-Production Management

  • In-Production Management

  • Post-Production Management



By Region



  • North America (U.S. and Canada)

  • Europe (Russia, France, Spain, Germany, Italy, United Kingdom, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, Argentina and Rest of Latin America)


Connected Agriculture Market
  • PDF
  • 2018
  • 2015-2017
  • 120

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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