PUBLISHER: SkyQuest | PRODUCT CODE: 1701502
PUBLISHER: SkyQuest | PRODUCT CODE: 1701502
Connected Agriculture Market size was valued at USD 5.24 billion in 2023 and is poised to grow from USD 6.02 billion in 2024 to USD 18.15 billion by 2032, growing at a CAGR of 14.8% during the forecast period (2025-2032).
Connected agriculture, enabled by digital technology advancements, is transforming traditional farming practices into insight-driven and efficient operations. With the ability to collect and analyze vast amounts of data, farmers can access real-time information on soil conditions, humidity, and weather patterns. This innovation allows seamless interactions between farmers, agribusinesses, and retailers, facilitating better planning for harvesting and market engagement. Consequently, farm owners can optimize their resource use and enhance productivity, ultimately leading to improved crop quality and yields. As this sophisticated approach to agriculture continues to evolve, it presents significant opportunities for stakeholders across the agricultural value chain to elevate their operations and drive sustainable growth.
Top-down and bottom-up approaches were used to estimate and validate the size of the Connected Agriculture market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Connected Agriculture Market Segments Analysis
Global Connected Agriculture Market is segmented by Component, Deployment, Application and region. Based on Component, the market is segmented into Solutions, Platforms and Services. Based on Deployment, the market is segmented into On-Premises and Cloud-Based. Based on Application, the market is segmented into Pre-Production Planning and Management, In-Production Planning and Management, Post-Production Planning and Management, Livestock Monitoring and Precision Farming. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Connected Agriculture Market
The connected agriculture market is experiencing significant growth driven by an increasing demand for innovative solutions aimed at enhancing farmers' crop yields. Numerous service providers are increasingly focusing on the global connected agriculture sector to deliver real-time information to their customers. Moreover, mobile-based transaction services enable farmers to manage their expenses effectively in real time. This combination of factors is fostering continued expansion within the connected agriculture market worldwide, as stakeholders seek to optimize productivity and profitability through advanced technological solutions. As a result, the sector is poised for ongoing development and investment opportunities.
Restraints in the Connected Agriculture Market
The growth of the Connected Agriculture market is likely to be hindered by several factors, primarily the limited knowledge among end-users and the high initial investment required for connected farm technologies. Farmers and producers must make substantial financial commitments to purchase equipment such as satellites, drones, Geographic Information Systems (GIS), and Global Positioning Systems (GPS) to gather essential input data. This financial barrier may deter potential users from adopting these technologies, ultimately restricting the overall development of the industry and slowing down the transition toward more advanced agricultural practices.
Market Trends of the Connected Agriculture Market
The Connected Agriculture market is experiencing significant growth driven by the escalating demand for crops due to the rising global population. As traditional irrigation methods contribute to water loss, smart irrigation solutions are emerging as essential tools to enhance water efficiency and optimize plant health. Currently, 20% of cultivated land relies on irrigation practices, yielding 40% of the world's food supply across 330 million hectares. In this context, the World Bank is focusing on sustainable water usage strategies for agriculture. These trends highlight the increasing importance of innovative technologies in fostering environmental stewardship and meeting global food security challenges.