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Market Scenario
Connected agriculture technology is the advanced version of information and mobile communication technology. Emerging countries such as China, India, and Indonesia of Asia Pacific region are considered to be regions of opportunities for the connected agriculture market. These are countries that lack the proper infrastructure for the agriculture sector in terms of sowing and harvesting techniques, packing and packaging, transporting, production, storing and food processing. Connected agriculture technology offers the farmers the proper skills and knowledge about various techniques to enhance the productivity of farms, usage of seeds and fertilizers, weather forecasting, and many more. Most of the countries are depended on monsoons, therefore, connected agriculture technology helps the farmers to get the regular updates of a weather forecast that prevents the farmers from loss of crops in-case of untimely rains or droughts. The connected agriculture technology also provides the smart irrigation and smart water management system, which helps the farmers to cultivate the crops during their stipulated period.
Connected agriculture also offers various financial services such as micro-lending services, micro-insurance services, and mobile payments services. These services help the farmers to apply for the loan directly to the financial institution, direct transfer of the payments in their bank accounts and can check the commodity prices of the crops harvest and cultivated by them.
Enhancement of technology has encouraged the companies to invest more in the research and development sectors of agriculture and farmers to provide real-time information and services.
Increased number of telecom service providers and rising demand for advanced technology is expected to drive the market over the forecast period. Big IT firms such as Microsoft Corporation, IBM Corporations, and CISCO Ltd are constantly evolving new technologies to ease the burden on farmers to under the upgradation of existing mobile technology. On the other hand, lack of proper knowledge about the technology and high cost for the installation is expected to hinder the growth of the connected agriculture market over the forecast period.
The global connected agriculture market was valued at USD 1 billion in 2016 and is expected to reach at approximately USD 3 billion by 2023 growing at a CAGR of ~17% during the forecast period 2017-2023.
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Key Players:
The prominent players in connected agriculture market are AG Leader Technology (U.S), Microsoft Corporation (U.S), IBM Corporation (U.S), Cisco Systems Inc (U.S),, AT&T (U.S), Accenture PLC (Ireland), SAP A.G (Germany), Orange Business Services (France), Epicor Software Corporation(U.S). Vodafone Group PLC (U.K), SAGE (U.K), Syspro Technologies (U.S), Raven Industries, Inc (U.S), AGCO Corporation (U.S).
The globally connected agriculture market is bifurcated into component and application.
Based on the component, the connected agriculture market is sub-segmented into solutions, services, and platform. Solutions are categorized into network management, asset management, SCADA systems for agriculture, and smart water management system. Services are segmented into professional services and managed services. Furthermore, Professional services include consulting services, integration and deployment services, and support and maintenance services. Additionally, Platform is segmented into device management, application enablement, and connectivity management.
Application segment is sub-segmented into farming planning and management, smart logistics, smart irrigation, and agriculture finance. The agriculture finance includes mobile information services, micro-lending services, micro-insurance services, and mobile payments services.
Regional Analysis:
Connected agriculture market is geographically segmented into North America, Europe, Asia Pacific Latin America, and the Middle-East & Africa. North-American region is expected to be the prominent player among the regions due to advanced agricultural techniques and robust agricultural infrastructure and facilities are expected to drive the connected agriculture market. The U.S. and Canada are the leading countries in the North American region. Asia Pacific region is expected to have a significant growth over the forecast period. Emerging economies, such as India and China, lack the essential technology required for the agricultural sector, possess an ocean of opportunities, which is presumed to drive the market over the forecast period.
Intended Audience
Technology Investors
Research/Consultancy Firms
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
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Table of Contents:
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
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