Global Connected Agriculture Market

Global Connected Agriculture Market Size, Share, Growth Analysis, By Component(Solution, Services), By Application(Pre-Production Management, In-Production Management) - Industry Forecast 2023-2030


Report ID: SQSG20H2004 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 62 | Figures: 75

Global Connected Agriculture Market Insights

Connected Agriculture Market size was valued at USD 0.64 billion in 2021 and is poised to grow from USD 2.77 billion in 2022 to USD 12.03 billion by 2030, growing at a CAGR of 18.9% in the forecast period (2023-2030).

In order to track, evaluate, and control agricultural activities and to raise the production and quality of produce, connected agriculture corresponds to smart, sophisticated agricultural methods. Digital technology advances have resulted in it being feasible to gather and use a lot of data, which will help agricultural activities become more insight-driven and maybe more effective and efficient. Connected agriculture seeks to offer real-time data on ground conditions, air humidity, and weather patterns as well as to make it possible for farmers, agribusinesses, fertilizer companies, and food and beverage industries to interact with possible customers, traders, and retailers in order to successfully plan for harvesting. Farm owners and companies will be able to manage their time more effectively on the farm while using fewer resources by deploying a variety of connected agricultural solutions.

US Connected Agriculture Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 0.64 billion

Largest Segment

Solution

Fastest Growth

Sector

Growth Rate

18.9% CAGR

Global Connected Agriculture Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Connected Agriculture Market Size By component type , 2021-2028 ($ Bn)
Global Connected Agriculture Market Size By component type, 2021-2028 (%)

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Global Connected Agriculture Market Segmental Analysis

The global connected agriculture market segmentation is based on component, application, and region. Based on component the market is segmented into solution and services. Based on application the market is segmented into pre-production management, in-production management, and post production management. Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Connected Agriculture Market Analysis by Component

The solution category has the biggest market share for connected agriculture globally. The ability to remotely monitor through connected agriculture solutions increases output yields and allows growers to enhance the growing process. By assisting them in predicting moisture levels and dryness, soil erosion, and other elements that promote crop growth, connected agricultural solutions assist farmers in increasing production output and improving the performance of their produce.

Over the projected timeframe, the services sector is expected to display a notable CAGR. Consulting, integration and implementation, assistance, and management are all included in the services section. Some of the key factors propelling the growth of the connected agriculture services market include rising demand for highly valued agricultural services, strict government regulations for advising and management in agriculture enterprises, and rising popularity of cutting-edge technologies.

Connected Agriculture Market Analysis by Application

In-production management is predicted to account for the biggest market share in connected agriculture globally. An increasing manufacturing rate with a relatively cheaper price is made possible by connected agriculture's in-production management section. Farmers can obtain actual information through in-production management to take proactive actions that contribute to the creation of high-yielding yields.

Pre-production management in connected agriculture is likely to develop, and its advantages are expected to last throughout the projected timeline. In connected agriculture, pre-production management aids agricultural producers and enterprises by offering pertinent information and advice on planning and management before production begins.

Global Connected Agriculture Market By component type, 2021 (%), 2021 (%)

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Global Connected Agriculture Market Regional Insights

In 2021, majorly owing to the growing use of the technologies by small-scale farmers, North America accounted for the largest portion of the worldwide connected agriculture industry. Additionally, the farms in the area have modern farming equipment, which will help the market expand. During the projected period, increasing investments in cloud-based solutions and connected agriculture will also help this region connected agriculture market.

In the worldwide connected agriculture market, Asia-Pacific is projected to expand the fastest. In the global food chain market, Asia-Pacific is a focal area since it exports the most food and farming products. China, Japan, and India are among the nations in the region that are adopting connected agriculture solutions for more responsible use of the resources at hand.

Global Connected Agriculture Market By Geography, 2021-2028, 2023-2030
  • Largest
  • Fastest

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Global Connected Agriculture Market Dynamics

Connected Agriculture Market Driver

  • The connected agricultural market is expanding as a result of the rising need for possible solutions to boost farmers' return produce. Additionally, a number of service providers are seen concentrating on the worldwide connected agricultural industry in order to supply their end consumers with simultaneous information. Furthermore, farmers are able to control their real-time spending thanks to mobile-based transaction service providers. This has helped the market for connected agriculture around the world continue to grow.
  • The ability to conduct business without trouble in rural areas is a factor in the growth of the connected agriculture sector. Another aspect that is expected to fuel expansion in the worldwide connected agriculture market over the next few years is the ease of access to agriculture information.

Connected Agriculture Market Restraint

  • It is predicted that low end-user knowledge and expensive startup costs for connected farm technology will limit industry expansion. In order to acquire input data, farmers or producers must invest significantly in satellite equipment, drones, Geographic Information Systems (GIS), and Global Positioning Systems (GPS).
  • For connected farming techniques and solutions to be implemented, a significant financial investment is needed. The majority of farmers on the planet are marginalized or small farmers who find it challenging to invest in this expensive machinery. Substantial investment, sustainable farming equipment, and knowledgeable, professional farmers are required for connected agriculture in order to employ this technology to gather fundamental data. Due to high technological expenditures, only large, industrialized farms have access to the newest technologies.

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Global Connected Agriculture Market Competitive Landscape

Due to the established players in this industry who are the innovators of IoT devices, the intense competition is considerable. As a result, a small number of enterprises control a large portion of the market. The prominent competitors are concentrating on tactics including alliances, purchases, agreements, product launches, and regional expansions. For instance, in order to drive the digital agricultural revolution of Africa, AGRA and major technology company Microsoft announced in May 2022 that they were expanding their relationship.

Top Players in the Global Connected Agriculture Market

  • Deere & Company
  • Trimble Inc.
  • AGCO Corporation
  • Raven Industries Inc.
  • AG Leader Technology
  • Monsanto Company
  • Syngenta AG
  • Precision Planting LLC
  • Topcon Positioning Systems Inc.
  • SST Development Group Inc.
  • Farmers Edge Inc.
  • Climate Corporation (The)
  • AgJunction Inc.
  • Taranis
  • Yara International ASA
  • Mavrx Inc.
  • Granular Inc.
  • Aerobotics
  • Agribotix LLC
  • The Yield Pty Ltd.

Connected Agriculture Market Recent Development

  • In January 2022, as it begins preparations to instill an innovation culture in the workplace and advance the business toward long-term success, Chia Tai, Thailand's foremost agricultural innovator, has implemented Oracle Fusion Cloud Human Capital Management (HCM).
  • In April 2021, at SAP.iO Foundry Paris, SAP developed a virtual startup accelerator program with a focus on the agro-industry. The chosen startups are experts in supply chain management, platforms for production monitoring, and decision-support technologies.

Global Connected Agriculture Key Market Trends

  • The need for crops is rising as the world's population rises. This aspect emphasizes the necessity of effective watering techniques. Smart irrigation techniques serve to minimize water loss brought on by the traditional system and regulate the quantity of water that reaches the plants. Around the world, 330 million hectares of land have irrigation systems. 20%  of all farmed land is used for irrigation agriculture, although this sector is responsible 40% of all food produced globally. The World Bank is enhancing its overall strategy for water usage in agriculture in order to assist customers in taking steps toward agricultural water stewardship.

Global Connected Agriculture Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the largest market share for connected agriculture globally belongs to the solution category. Globally, connected agriculture is expected to have the largest market share for in-production management. In 2021, North America accounted for the largest share of the global connected agriculture market, largely because small-scale farmers were using technologies more and more.

Report Metric Details
Market size value in 2021 USD 0.64 billion
Market size value in 2030 USD 12.03 billion
Growth Rate 18.9%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Solution, Services
  • Application
    • Pre-Production Management, In-Production Management, Post Production Management
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Deere & Company
  • Trimble Inc.
  • AGCO Corporation
  • Raven Industries Inc.
  • AG Leader Technology
  • Monsanto Company
  • Syngenta AG
  • Precision Planting LLC
  • Topcon Positioning Systems Inc.
  • SST Development Group Inc.
  • Farmers Edge Inc.
  • Climate Corporation (The)
  • AgJunction Inc.
  • Taranis
  • Yara International ASA
  • Mavrx Inc.
  • Granular Inc.
  • Aerobotics
  • Agribotix LLC
  • The Yield Pty Ltd.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Connected Agriculture Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Connected Agriculture Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Connected Agriculture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Connected Agriculture Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Connected Agriculture Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Connected Agriculture Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Connected Agriculture Market size was valued at USD 0.64 billion in 2021 and is poised to grow from USD 2.77 billion in 2022 to USD 12.03 billion by 2030, growing at a CAGR of 18.9% in the forecast period (2023-2030).

Due to the established players in this industry who are the innovators of IoT devices, the intense competition is considerable. As a result, a small number of enterprises control a large portion of the market. The prominent competitors are concentrating on tactics including alliances, purchases, agreements, product launches, and regional expansions. For instance, in order to drive the digital agricultural revolution of Africa, AGRA and major technology company Microsoft announced in May 2022 that they were expanding their relationship. 'Deere & Company', 'Trimble Inc.', 'AGCO Corporation', 'Raven Industries Inc.', 'AG Leader Technology', 'Monsanto Company', 'Syngenta AG', 'Precision Planting LLC', 'Topcon Positioning Systems Inc.', 'SST Development Group Inc.', 'Farmers Edge Inc.', 'Climate Corporation (The)', 'AgJunction Inc.', 'Taranis', 'Yara International ASA', 'Mavrx Inc.', 'Granular Inc.', 'Aerobotics', 'Agribotix LLC', 'The Yield Pty Ltd.'

The connected agricultural market is expanding as a result of the rising need for possible solutions to boost farmers' return produce. Additionally, a number of service providers are seen concentrating on the worldwide connected agricultural industry in order to supply their end consumers with simultaneous information. Furthermore, farmers are able to control their real-time spending thanks to mobile-based transaction service providers. This has helped the market for connected agriculture around the world continue to grow.

The need for crops is rising as the world's population rises. This aspect emphasizes the necessity of effective watering techniques. Smart irrigation techniques serve to minimize water loss brought on by the traditional system and regulate the quantity of water that reaches the plants. Around the world, 330 million hectares of land have irrigation systems. 20%  of all farmed land is used for irrigation agriculture, although this sector is responsible 40% of all food produced globally. The World Bank is enhancing its overall strategy for water usage in agriculture in order to assist customers in taking steps toward agricultural water stewardship.

In 2021, majorly owing to the growing use of the technologies by small-scale farmers, North America accounted for the largest portion of the worldwide connected agriculture industry. Additionally, the farms in the area have modern farming equipment, which will help the market expand. During the projected period, increasing investments in cloud-based solutions and connected agriculture will also help this region connected agriculture market.

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