“Connected Agriculture Market by Solution (Network Management, Smart Water Management), Service, Platform (Device Management, Application Enablement), Application (Farm Planning & Management, Agricultural Finance), and Region – Global Forecast to 2021″
[136 Pages Report] The connected agriculture market is estimated to grow from USD 1.34 Billion in 2016 to USD 3.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.9% from 2016 to 2021.
Objectives of the study:
The main objective of this report is to define, describe, and forecast the global connected agriculture market on the basis of solutions, services, platforms, and applications. Services includes professional services such as consulting services, integration & deployment services, and support & maintenance services, along with managed services. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report attempts to forecast the market size with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments such as Mergers and Acquisitions (M&A), new product developments, and Research & Development (R&D) activities in the connected agriculture market.
The research methodology used to estimate and forecast the connected agriculture market begins with collection and analysis of data on key vendor revenues through secondary research such as annual reports and press releases, investor presentations of companies, conferences and associations such as FAO, Association of Equipment Manufacturers (AEM), 4-H, white papers, technology journals, certified publications, and articles from recognized authors, directories, and databases. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the total market size of the global connected agriculture market from the revenue of the key connected agriculture solutions and services providers in the market. After arriving at the overall market size, the total market was split into several segments and sub-segments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and sub segments.
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The connected agriculture ecosystem comprises solution providers such as Trimble Navigation Ltd. (U.S.), Link Labs LLC (Maryland, U.S.), among others; service providers such as Vodafone PLC (London, U.K.), Accenture PLC (Dublin, Ireland) among others; and platform providers such as IBM Corporation (U.S.), PTC, Inc. (U.S.), SAP SE (Germany) among others. Many others have adopted partnership as their key strategy to enhance their market reach. This strategy accounted for the largest share of the total strategies adopted by the market players.
Key Target Audience
- Connected agriculture software vendors
- Automation and control system providers
- Environment and regulatory authorities
- System integrators
- Connectivity providers
- Managed service providers
- Cloud service providers
- Telecommunication service providers
- Agricultural associations
- Agricultural automation providers
“Study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments”.
MarketsandMarkets forecasts the connected agriculture market size to grow from USD 1.34 Billion in 2016 to USD 3.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 17.9%.
The connected agriculture market solutions and services offer pro-active and real-time monitoring of agricultural activities, providing comprehensive control over various tasks in the agriculture ecosystem. The network management solution is growing rapidly due to the increasing need to gather data from sensors so as to minimize any losses due to uncertain weather conditions.
Network management solution offers an end-to-end management of all the network related tasks such as remote monitoring, which involves monitoring crops in terms of its temperature, health, need for water, and other intricacies; network bandwidth management, which helps maintain efficient network among all the devices connected in the agriculture ecosystem; analytics, which helps analyze and gather useful insights from data collected by various devices; and network & application security, which ensures safety of data and applications connected over the connected system.
The connected agriculture market is growing rapidly and is being widely accepted across the regions. The solutions and services in connected agriculture are proving to be very efficient for getting optimum production with minimal resources. It also helps in avoiding wastage during transportation and warehousing, by systematically dealing with all the phases of connected agriculture ecosystem. However, limited availability of arable land is a significant impediment for the implantation and deployment of connected agriculture solution. The high cost of deployment is another restraining factor for the growth of the market.
There are several established players in this market such as Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), PTC, Inc. (U.S.), SAP SE (Germany), Trimble Navigation Ltd. (U.S.), Vodafone PLC (London, U.K.), Accenture Plc (Dublin, Ireland), Microsoft Corporation (Washington, U.S.), AT&T, Inc. (Texas, U.S.), and Link Labs LLC (Maryland, U.S.).
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