Connected Agriculture Market (by Solution (Network Management, Agriculture Asset Management, SCADA Systems for Agriculture, Logistics and Supply Chain Management, Smart Water Management System and Others)-by Service (Professional Services, Managed Services)-by Platform (Device Management, Application Enablement, Connectivity Management) -by Application (Farm Planning and Management, Agricultural Finance)- by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) is expected to reach US$ $3.05 Bn by 2026 at a CAGR of 17.7%.
The connected agriculture market helps to provide optimum production with minimal resources by using solution and services. Connected agriculture market also helps to avoid the wastage during warehousing and transportation, by dealing with all phases of connected agriculture system. The connected agriculture system is being widely accepted across the regions and is growing rapidly.
Increasing public-private partnership (PPP) projects in the agriculture sector, rising need for food globally and High investments in rural infrastructure projects are some of the major driving factors expected to propel the market around the world. Another important driver is increase in unpredictability of weather on account of environmental problems such as global warming, deforestation, and increasing carbon footprint.
High cost and limited availability of arable land is a significant impediment for the deployment and implementation of connected agriculture solution are some of the restraining factors that could affect on the growth of the market.
Network management solution is expected to hold the large market size during 2018-2026
Among the solution segment, the network management solution is expected to hold the large market size during the forecast period, due to the rising need to collect data from sensors so as to minimize any losses which occurs due to uncertain weather conditions. Network management solution offers an end-to-end management of all the network related tasks such as health, need for water, and other intricacies remote monitoring, which involves monitoring crops in terms of its temperature; analytics, which helps analyze and gather useful insights from data collected by various devices; application and network security, which ensures safety of applications and data connected over the connected system, and network bandwidth management, which helps maintain efficient network among all the devices connected in the agriculture ecosystem. However, the smart water management systems solution is expected to grow at the highest CAGR during the forecast period as it helps in actively ensuring and monitoring the optimum provision of water to the crops by sensing the moisture and heat conditions of the soil. Furthermore, the system is also able to provide particular amount of water in accordance with type of crop.
Professional service segment is expected to hold the large market size during 2018-2026
Services segment is divided into professional services and managed services. Professional services are expected to hold the large market size during the forecast period, as the professional service providers offer comprehensive services via the latest knowledge, and strategies, tools and techniques, skills, , as per the farm needs. They also offer risk assessment, customized implementation, and assist with deployment and integration via industry-defined best practices. Professional services in connected agriculture practices involve the procedure of consulting for integration of the connected agriculture systems according to it, identifying key implementation areas, and finally providing maintenance and support to the complete connected system.
North America is likely to hold the largest market share during 2018-2026
Among regions, North America is likely to hold the largest market share during the forecast period, due to rapid adoption of technology by farmers in the region and extensive farming activities in the region. North America has been witnessing growing trends such as smart water management system and remote monitoring to utilize water with efficiency and effectively monitor the crop health. APAC is expected to reach at the highest CAGR during the forecast period, as countries in the region are emphasizing heavily on implementation and acceptance connected agriculture practices. APAC is witnessing the growth in adoption of this market primarily due to awareness of the need for efficient and reliable farm management solutions.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Cisco Systems, Inc. , IBM Corporation , PTC, Inc., SAP SE, Trimble Navigation Ltd., Vodafone PLC, Accenture Plc, Microsoft Corporation, AT&T, Inc., Link Labs LLC, AG Leader Technology, Orange Business Services, Epicor Software Corporation, SAGE, Syspro Technologies, Raven Industries, Inc., AGCO Corporation etc.
About Maximize Market Research
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the connected agriculture market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the connected agriculture market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain dynamic connected agriculture market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on https://www.maximizemarketresearch.com/market-report/connected-agriculture-market/13305/
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