CRI Report has released a report titled “Connected Agriculture Market – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 9.03 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 18.9% between 2020 and 2030. According to the report, The main driving forces behind the growth of precise agriculture include increased agricultural mechanisms in developing countries, rising labour costs as a result of a lack of skilled labour, increased pressure for food supplies in the world as a result of increasing population, significant savings on smart farming techniques and government initiatives to adopt advanced agricultural technology. The increasing need for an optimal crop production with scarce funds gives it tremendous popularity among farmers.
The market report on global Connected Agriculture market includes in-depth insights as:
- The estimated value of the market was USD 2.26 billion in the year 2020.
- Region-wise, the market in North America, which held the largest market share of XX.X% in the year 2020, emerged as a key market for Connected Agriculture Market.
- Based on application, In-Production Planning and Management emerged as a key segment in the global Connected Agriculture Market.
- Based on platform, device management emerged as a key segment in the global Connected Agriculture Market
- Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.
“The growing demand for different solutions to improve returns for farmers supports the growth of the connected agricultural market. In addition, different service providers focus on the global linked agriculture market to provide their end-users with concurrent information. In addition, mobile transaction service providers can shape farmers’ real-time expenses. This supported further share in the market connected farming market, thereby providing market participants with a number of opportunities over the coming years.”, said a lead analyst at CRI Report.
Connected farming is described as the use of modern technical solutions and services for the improvement, management and control of pre-production, in-production and post-production farming activities. Connected farming involves four main steps: data detection, data communications and data storage. Different stakeholders such as farmer, farmers, livestock producers, farming cooperatives, agricultural businesses, grapes, seed companies, fertilizer enterprises, food and drink companies and governments can use the information gathered from these steps to make actual decisions that maximize their return on investment (RoI). Connected agriculture technology gives farmers the appropriate skills and know-how about different techniques for improving farm productivity, seed and fertilizer use, weather forecasting, and more. Thereby, connected agriculture technology helps farms to regularly update a weather forecast to help avoid farmers from losing crops in the case of premature rains or droughts and is therefore dependent on monsoons in most countries.
Global Connected Agriculture market is segmented by application into Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management. The area of application management and planning in production includes management of the water and of irrigation, management of reproduction and feed, crop scouting, operation and management of production, animal monitoring and connectivity, agri-finance management and insurance. Connected solutions and services for agriculture assist in finding real-time information about agricultural irrigation, livestock health, feeding behaviour, sanitation, tracking locations of crops, insurance and other activities for improving crop, livestock and farm management, improving productivity and the quality of production.
Key Players in the Market
- Some of the key players operating in the global Connected Farming market are IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), and SatSure (UK), Other Prominent Players
Get Valuable Insights into Global Connected Farming Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Connected Farming market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by the platform into Device Management, Application Enablement, and Connectivity Management. By application, the market is segmented into Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.