According to the new market research report “Connected Agriculture Market by Component (Solution, Platforms, and Services), Application (Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management), and Region – Global Forecast to 2023″, The connected agriculture market is expected to grow from USD 1.8 billion in 2018 to USD 4.3 billion by 2023, at a CAGR of 19.3% during the forecast period. Need to increase farm yield and reduce labor cost, and rising government initiatives for modernizing the agriculture industry are some of the major factors driving the growth of the connected agriculture market globally.
The study involved 4 major activities in estimating the current market size for the connected agriculture market. Exhaustive secondary research was done to collect information on the market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub segments of the connected agriculture market.
In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva have been referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.
The connected agriculture market comprises several stakeholders, such as connected agriculture vendors, system integrators, consulting service providers, resellers and distributors, research organizations, government agencies, enterprise users, technology providers, venture capitalists, private equity firms, and startup companies. The demand-side of the connected agriculture market consists of farmers, growers, cooperatives, agribusiness, seed companies, fertilizer companies, and food and beverage companies. The supply-side includes connected agriculture providers, offering connected agriculture solutions and services. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Market size Estimation
Top-down and bottom-up approaches were used to estimate and validate the total size of the connected agriculture market. These methods were also used extensively to estimate the size of various sub segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.
- To define, describe, and forecast the connected agriculture market by component (solution, platforms, and services), application, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To analyze the market with respect to individual growth trends, prospects, and contributions to the market
- To forecast the market size of 5 main regional segments, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
- To profile the key players in the market and comprehensively analyze their core competencies in each microsegment
- To analyze the competitive developments, such as agreements, partnerships, alliances, and acquisitions, in the connected agriculture market
To know about the assumptions considered for the study, download the pdf brochure:-https://www.marketsandmarkets.com/pdfdownload.asp?id=469728
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