Connected Agriculture Global Market Report 2024

Description

Connected Agriculture Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on connected agriculture market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for connected agriculture? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected agriculture market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solution; Platforms; Services
2) By Platform: Device Management; Application Enablement; Connectivity Management
3) By Application: Farm Planning And Management; Smart Logistics; Agriculture Finance; Smart Irrigation
Companies Mentioned: Cisco Systems Inc.; IBM Corporation; SAP SE; Trimble Navigation Ltd.; Vodafone PLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Connected agriculture involves the utilization of digital technologies and the Internet in agriculture. It comprises software that facilitates the setup, control, and monitoring of Internet of Things (IoT) devices employed in farming operations. This technology assists in coordinating automated processes and collecting farm data, which is then analyzed by a centralized system to provide alerts about potential threats or guidance for farmers.

The primary components of connected agriculture include solutions, platforms, and services. Solutions encompass various technologies distributed via the internet or the cloud, enabling farmers and agricultural experts to enhance crop yields and quality, automate repetitive tasks, and generate valuable data across the organization. Platforms consist of device management, application enablement, and connectivity management, supporting applications such as farm planning and management, smart logistics, agriculture finance, and smart irrigation.

The connected agriculture market research report is one of a series of new reports from The Business Research Company that provides connected agriculture market statistics, including connected agriculture industry global market size, regional shares, competitors with a connected agriculture market share, detailed connected agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the connected agriculture industry. This connected agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The connected agriculture market size has grown rapidly in recent years. It will grow from $3.1 billion in 2023 to $3.63 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to several factors, including the increasing global population, the demand for sustainable agriculture practices, government initiatives and subsidies, concerns related to climate change and weather variability, the globalization of agriculture markets, and improvements in connectivity infrastructure.

The connected agriculture market size is expected to see rapid growth in the next few years. It will grow to $6.53 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to a focus on soil health monitoring, efforts to bridge the digital divide, emphasis on yield optimization, environmental conservation initiatives, and the adoption of smart irrigation systems. Major trends in the forecast period include the widespread adoption of IoT technologies, precision farming practices, the use of drones and UAVs, smart irrigation systems, the integration of farm management software, the emergence of agri-tech startups, and the use of telematics in equipment monitoring.

Increasing demand for crops is expected to propel the growth of the connected agriculture market going forward. Crops, in agriculture, refer to a plant or plant product that can be widely cultivated and harvested for income or dietary needs. Connected agriculture helps boost crop yields from existing land by tracking, evaluating, controlling, and ultimately enhancing crucial agricultural processes at all points in the farming cycle. For instance, India sets the target for total food grain production at 328 million tons for the years 2022-23, compared to 316 million tons of total food grain production in 2021-22. Therefore, increasing demand for crops will drive the growth of the connected agriculture market.

The connected agriculture market is poised for growth, driven by the increasing demand for advanced farming solutions. This trend encompasses a spectrum of innovative technologies and practices aimed at enhancing the efficiency, sustainability, and productivity of agricultural operations. The synergy between advanced farming solutions and connected agriculture empowers farmers to achieve higher productivity, sustainability, and overall operational efficiency. Notably, in February 2023, Agtonomy, a US-based ag tech software company, unveiled its TeleFarmer Solution, allowing farmers to remotely execute labor-intensive field tasks like weeding, spraying, mowing, and transporting. This solution addresses labor shortages and rising costs, presenting a significant advancement in the connected agriculture sector.

In the connected agriculture market, technological advancements have emerged as a prominent trend, with major companies prioritizing innovation to maintain their market position. An illustrative example is John Deere, a US-based manufacturer of agricultural machinery, introducing 'Work Planner' as a centralized tool to its operations center platform in January 2021. This tool streamlines fieldwork by providing operators with a pop-up window containing the work plan for a specific field, facilitating easy data collection. The 'Work Planner' contributes to improved monitoring of equipment and fieldwork, offering enhanced connectivity through the Operations Center mobile app.

Furthermore, strategic collaborations are playing a pivotal role in the connected agriculture market, aiming to provide farmers with valuable insights, time-saving connectivity, and seamless integration with mixed-brand fleets. A notable collaboration occurred in November 2022 when Trimble Agriculture, a US-based provider of connected precision farming solutions, partnered with xFarm Technologies, an Italy-based startup focusing on SaaS solutions for agriculture's digital transformation. This collaboration enables Trimble to offer farmers additional efficient solutions through integration with the xFarm smart farming app.

In November 2021, CNH Industrial N.V., a UK-based equipment and services company, acquired Raven Industries for $2.1 billion. This strategic acquisition is expected to bolster CNH Industrial's precision agriculture capabilities, scale, and global market position in agriculture equipment. Raven Industries Inc., the acquired company, is a US-based leader in connected agriculture, manufacturing precision agriculture products, high-altitude balloons, plastic film and sheeting, and radar systems. This acquisition reflects the ongoing consolidation and strengthening of key players in the connected agriculture market.

Major companies operating in the connected agriculture market report are Cisco Systems Inc., IBM Corporation, SAP SE, Trimble Navigation Ltd., Vodafone PLC, Microsoft Corporation, American Telephone and Telegraph Inc., Deere & Company, Iteris Inc., Ag Leader Technology, Decisive Farming Corp., SWIIM System Ltd., Oracle Corporation, Fujitsu Limited, Hexagon AB, Raven Industries Inc., Topcon Corporation, AgJunction Inc., Agribotix LLC, CropX Inc., Granular Inc., PrecisionHawk Inc., The Climate Corporation, TerrAvion Inc., Descartes Labs Inc., Farmers Edge Inc., Mavrx Inc., Sentera Inc., Absolute Agronomy LLC, AgNext Technologies Private Limited, DeHaat, Cropin Technology Solutions, and RML AgTech Pvt. Ltd.

North America was the largest region in the connected agriculture market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the connected agriculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The connected agriculture market consists of revenues earned by entities by providing connected agriculture services such as animal tracking and navigation, feed management, telematics solutions, and others. The connected agriculture market also includes sales of sensors, measuring probes, disc harrows, and GPS/GNSS equipment that are used in providing connected agriculture services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12577

1. Executive Summary

2. Connected Agriculture Market Characteristics

3. Connected Agriculture Market Trends And Strategies

4. Connected Agriculture Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Connected Agriculture Market Size and Growth

5.1. Global Connected Agriculture Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Connected Agriculture Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Connected Agriculture Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Connected Agriculture Market Segmentation

6.1. Global Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Platforms
Services
6.2. Global Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Device Management
Application Enablement
Connectivity Management
6.3. Global Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Farm Planning And Management
Smart Logistics
Agriculture Finance
Smart Irrigation

7. Connected Agriculture Market Regional And Country Analysis

7.1. Global Connected Agriculture Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Connected Agriculture Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Connected Agriculture Market

8.1. Asia-Pacific Connected Agriculture Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Connected Agriculture Market

9.1. China Connected Agriculture Market Overview
9.2. China Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Connected Agriculture Market

10.1. India Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Connected Agriculture Market

11.1. Japan Connected Agriculture Market Overview
11.2. Japan Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Connected Agriculture Market

12.1. Australia Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Connected Agriculture Market

13.1. Indonesia Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Connected Agriculture Market

14.1. South Korea Connected Agriculture Market Overview
14.2. South Korea Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Connected Agriculture Market

15.1. Western Europe Connected Agriculture Market Overview
15.2. Western Europe Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Connected Agriculture Market

16.1. UK Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Connected Agriculture Market

17.1. Germany Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Connected Agriculture Market

18.1. France Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Connected Agriculture Market

19.1. Italy Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Connected Agriculture Market

20.1. Spain Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Connected Agriculture Market

21.1. Eastern Europe Connected Agriculture Market Overview
21.2. Eastern Europe Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Connected Agriculture Market

22.1. Russia Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Connected Agriculture Market

23.1. North America Connected Agriculture Market Overview
23.2. North America Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Connected Agriculture Market

24.1. USA Connected Agriculture Market Overview
24.2. USA Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Connected Agriculture Market

25.1. Canada Connected Agriculture Market Overview
25.2. Canada Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Connected Agriculture Market

26.1. South America Connected Agriculture Market Overview
26.2. South America Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Connected Agriculture Market

27.1. Brazil Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Connected Agriculture Market

28.1. Middle East Connected Agriculture Market Overview
28.2. Middle East Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Connected Agriculture Market

29.1. Africa Connected Agriculture Market Overview
29.2. Africa Connected Agriculture Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Connected Agriculture Market, Segmentation By Platform, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Connected Agriculture Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Connected Agriculture Market Competitive Landscape And Company Profiles

30.1. Connected Agriculture Market Competitive Landscape
30.2. Connected Agriculture Market Company Profiles
- 30.2.1. Cisco Systems Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. IBM Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. SAP SE
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Trimble Navigation Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Vodafone plc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Connected Agriculture Market Competitive Benchmarking

32. Global Connected Agriculture Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Connected Agriculture Market

34. Connected Agriculture Market Future Outlook and Potential Analysis

34.1 Connected Agriculture Market In 2028 - Countries Offering Most New Opportunities
34.2 Connected Agriculture Market In 2028 - Segments Offering Most New Opportunities
34.3 Connected Agriculture Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer