Global connected agriculture market size is projected to reach nearly USD 11,211.6 Million by 2028. Besides, it is projected to gather a CAGR of above 17% over the forecast years.
Dallas, United States - November 1, 2020 /MarketersMedia/ —
The global connected agriculture market revenue is projected to reach close to USD 11,211.6 Million by 2028. This can be attributed to the need for increased production per yield and increased government initiatives to adopt new technologies. Lingering challenges in agricultural practices leading to production deficit, massive ecological imbalance and high operational spending have significantly favored adoption of smart technologies supported by internet pervasiveness and smart device ownership, favoring optimistic growth in connected agriculture market.
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As agriculture continues to remain a crucial source of livelihood and economic growth across several developing economies, favorable agricultural output is highly desirable. However, owing to massive skill and knowledge gaps traditional agriculture is posing stark challenges, directly impacting overall output. With bullish absorption rates of ICT and telecommunication, are creating conducive triggers for large scale adoption of connected agriculture, crucial to encourage agricultural best practices and offset inefficiencies, thus favoring favorable financial outlook in the coming years.
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Connected agriculture is designed to establish an access point between farmers and various industries such as finance and education that allows in improving farmer outlook and allow farmers to understand various new technologies and implement the same for superlative agricultural outcome. Factors as such are likely to enable tremendous adoption and growth in connected agriculture market.
Emerging countries such as India which is facing major brunt as a pandemic aftermath, is facring heavy reliance on connected agriculture. Tactics such as sensor integration comes in handy to understand soil conditions and other associated factors such as climatic conditions which leverage mindful practices, leading to improved outcome with minimal capital investment.
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The major players of the global connected agriculture market are IBM, Microsoft, AT&T, Deere & Company, SAP SE, Accenture, Cisco, Oracle, Iteris, and Trimble, Moreover, the market comprises several other prominent players in the connected agriculture market that are SMAG, Ag Leader Technology, and Decisive Farming, The connected agriculture market consists of well-established global as well as local players. Besides, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Connected Agriculture Market
Component Overview, 2018-2028 (USD Million)
• Solutions
• Services
• platform
Platform Overview, 2018-2028 (USD Million)
• Device Management
• Application Enablement
• Connectivity Management
Service Overview, 2018-2028 (USD Million)
• Consulting
• Integration and Implementation
• Support and Maintenance
Application Overview, 2018-2028 (USD Million)
• Pre-Production Planning and Management
• In-Production Planning and Management
• Processing
Regional Overview, 2018-2028 (USD Million)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa
• South America
o Brazil
o Rest of South America
What does the report include?
• The study on the global connected agriculture market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the connected agriculture industry and their strategic initiatives for the product development
• The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
• This study is suitable for industry participants and stakeholders in the global connected agriculture market. The report will benefit every stakeholder involved in the connected agriculture market.
• Managers within the connected agriculture industry looking to publish recent and forecasted statistics about the global connected agriculture market.
• Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global connected agriculture market.
• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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