Connected agriculture refers to the use of technology such as SMS based applications, smartphones, connectivity networks, environmental sensors etc., in agriculture. The connected agriculture market services and solutions are able to provide real-time monitoring of agriculture activities along with control on various agriculture related tasks. Global connected agriculture market is anticipated to reach up to US $3.26 billion with the CAGR of 18.23% during the forecast period 2016-2023. The increasing global population is driving the market as more population leads to more demand for food production which can be achieved by efficient and effective agriculture practices. The food and agriculture organization of the United Nations estimated that population will grow by 34% and reach up to 9.1 billion till 2050. In order to feed this rapidly growing population there must be a 70% rise in the production of food by 2050. The agriculture system is facing various challenges such as limited availability of arable land, increasing unpredictability of the climate and the need for fresh water for agriculture. The probable way to solve this issue is by using sensing technology in the fields and on the farms which leads to precise agriculture practices. Moreover, through mobiles, the farmers can access the financial payments and various agricultural information such as weather, soil quality and moisture, crop failure, best quality seeds and tools to be used. The global connected agriculture market is primarily driven by the following factors:
- Increasing demand for BYOD
- Increasing network management solutions
- Upsurge in unpredictability of weather
- Upsurge in demand of smart water management systems
The key driver contributing to the growth of global connected agriculture market is the rise in the demand of smart water management solution. This smart water management system benefits form sensors that show the level of soil and moisture, which helps to provide exact amount of water and reduces wastage of water. The irrigation system might be customized to provide a specific amount of water keeping the needs of specific plants in mind. Farmers use payment services via mobile phones in order to pay the traders and also to receive loan benefits from banks. However, inadequate accessibility of arable land and increasing high cost of deployment are some of the major factors which hinder the overall growth of global connected agriculture market. The key opportunity that positively impacts the market is introduction of new key players in connected agriculture markets of developing countries.
Source: OBRC Analysis.
The global connected agriculture market is segmented into, solution, services, application, platform, and component. Solution is further segmented into:
- Network management
- Agriculture asset management
- Supervisory control and data acquisition
- Logistics and supply chain management
- Smart water management
- Others
Services is further segmented into:
- Professional
- Managed
Application is further segmented into:
- Farm planning and management
- Agricultural finance
- Others
Platform is further segmented into:
- Device
- Application enablement
- Connectivity
- Others
Component is further segmented into:
- Solution
- Platform
- Services
The revenue for the above application is specific to global connected agriculture market. However, the total revenue of these applications in general have been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up component, platform, services & solution segments. The global connected agriculture market report is geographically segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
APAC is anticipated to observe an exponential growth in the global connected agriculture market. The reason being the growth of connected agriculture in developing countries such as India, China and Japan and supportive government riles & regulations. Due to rising acceptance of remote monitoring, analytics and network, network bandwidth management & application security, numerous manufacturing corporations such as IBM Corp., Accenture Plc, Trimble Navigation Ltd., PTC, Inc. Microsoft Corporation and Cisco Systems, Inc. provide a number of connected agriculture solutions and services. is one of the major drivers that impacts the growth of global connected agriculture market, directly, in North America. This is the reason why North America is anticipated hold the largest market share with the highest CAGR during the forecast period.
The global connected agriculture market is divided into global connected agriculture market is segmented into, solution, services, application, platform, and component. On the basis of component the global connected agriculture market is segmented into solution, platform and services. Platform is sub-segmented into device management, application enablement, and connectivity management. Services is sub-segmented into professional services, and managed services. Solution is sub-segmented into network management, agriculture asset management, supervisory control and data acquisition, logistics and supply chain management, smart water management and others. Application is sub-segmented into farm planning and management, agricultural finance and others. Network management solution segment is anticipated to be the major segment of global connected agriculture market by 2023. Network management is segmented into network bandwidth management, remote monitoring, network & application security and analytics. It also includes examination of the information created by numerous remote monitoring devices and certifying the security of the network in the connected agriculture systems.
The major market players of the global connected agriculture market are:
- ACCENTURE PLC
- EPICOR SOFTWARE CORPORATION
- LINK LABS LLC
- ORANGE BUSINESS SERVICES
- TRIMBLE NAVIGATION LTD
- OTHERS
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, product launch is the key strategy adopted by the companies in the global connected agriculture market.
For Example: In 2016, Trimble launched new portfolio of wireless internet of things sensors for the purpose of water monitoring. The new Internet of Things (IoT) sensors makes use of innovative, long-rang wireless communications which measures and monitors water, wastewater and groundwater systems which comprises of water flows, pressure, levels and rainfall volumes. Similarly, in February 2016, Trimble Corporation expanded its distribution channel by introducing a new global network of independent distribution partners to fulfil the needs of the highly evolving precision agriculture industry. The new Vantage™ distribution network enables advisors, growers, retailers, co-ops and local original equipment manufacturers (OEMs) with the expertise of precision agriculture in the entire farm. Vantage partners provide Trimble the precise agriculture portfolio and advise growers on the right combination of technology-based solutions for their operations to improve farm efficiency and productivity.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in connected agriculture market.
Key reason to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023
- Report includes detailed analysis of different segments such as product, modality and end-user of connected agriculture market.
- Identify and understand the strength, opportunities, challenges and threat of the connected agriculture market.
- Covers detailed analysis of Porters 5 force model and other strategic models and also covers revenues, market share analysis, and competitive landscape analysis of major player of connected agriculture market.
- Detailed analysis of various regulatory policies which affect the global connected agriculture market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global connected agriculture market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the connected agriculture market, with giving extensive SCOT analysis of key companies.
Key findings of the global connected agriculture market:
- Rising demand of smart ware management system adding growth in global connected agriculture market.
- Asia pacific region held highest revenue share in 2016.
- The key trend affecting the market is rising adoption of rising population globally which increases the need of effective and efficient agriculture practices and technological innovation in farming such as farming drones, agriculture sensors.
- Network management solution segment anticipated to be the major segment of the connected agricultures market because it provides information which is created by numerous remote monitoring devices and certifying the security of the network in the connected agriculture system.
- Product launch is the key strategy adopted by players of connected agriculture market.
- The Professional services segment is the major segment in among services segment due to high accessibility it provides over professionals or specialists for technical support and also provides complete services through the latest techniques and skills, knowledge, tools, and strategies, as per the farm desires.
