Connected Agriculture Market Revenues to Expand at a CAGR of 19.3% by 2023
According to a 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.
Browse 49 market data Tables and 36 Figures spread through 134 Pages and in-depth TOC on "Connected Agriculture Market - Global Forecast to 2023"
The pre-production planning and management segment is expected to hold a larger market size in the global connected agriculture market during the forecast period
Inefficiencies in planting, weather uncertainty, pests and disease outbreaks, rising labor costs, and other intangible problems have put farmers in a situation where they are desperately looking out for solutions backed up with emerging technologies. Pre-production planning and management involve the use of connected agriculture solution to analyze and correlate information about field, crop, types of seeds, types of soil or infestations, weather, and manage variations in the field to grow more crops using fewer resources with less production cost. Hence, the pre-production planning and management segment is expected to hold the largest market size during the forecast period.
Request PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=469728
The services segment is expected to grow at the fastest CAGR during the forecast period
Connected agriculture services are gaining popularity worldwide owing to its extensive benefits in increasing farm productivity. Connected agriculture services have a wide scope of usage, ranging from feasibility analysis, strategy and implementation, and valuations and development of farm, to crop selection and weather monitoring. This has created opportunities for vendors to provide services to farmers and help them improve their limited knowledge by fulfilling a technological gap.
North America is estimated to have the largest market size during the forecast period
North America is estimated to account for the highest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. Majority of farmers or growers in the region have deployed connected agriculture solutions to improve their farming operations. Moreover, the North American region exhibits a wide presence of key industry players offering connected agriculture solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.
Major vendors offering connected agriculture solutions, platforms, and services across the globe include IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), Ag Leader Technology (US), Decisive Farming (Canada), Gamaya (Switzerland), and SatSure (UK).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Â
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/connected-agriculture.asp