Dublin, Feb. 06, 2019 (GLOBE NEWSWIRE) -- The "Connected Agriculture Market by Component (Solution, Platforms, Services), Application (Pre-Production Planning and Management, In-Production Planning and Management, Post-Production Planning and Management), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global connected agriculture market is expected to grow from USD 1.8 billion in 2018 to USD 4.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast period.
Technologically advanced solutions are making a difference for agriculture stakeholders on multiple fronts across the globe and helping them improve their efficiency in managing agriculture lifecycle. Innovative solutions from multiple vendors are being offered to agriculture stakeholders with the aim to provide a full spectrum of benefits. Connected agriculture solutions allow agriculture stakeholders to gather data from various connected devices and perform real-time analysis to drive their field productivity. The connected agriculture market has seen positive growth in the developing nations, and to maximize its potential, it is necessary for vendors to build and deliver solutions that can intuitively meet the growing demand of these nations. With rapid digital transformation, traditional farming methods have been replaced by modern farming techniques and a compounding effect can be witnessed on the pace of innovation in the agriculture sector.
The major factors that are expected to drive the growth of the connected agriculture market include the growing need to increase farm yield and reduce labor cost, and rising government initiatives for modernizing the agriculture industry. Poor network connectivity and high capital investment for establishing connected agriculture infrastructure pose as restraining factors in the growth of the connected agriculture market. Apart from drivers and restraints, factors such as integration of mobile technology in farm operation and adoption of sensor and connected devices are expected to boost the growth of the connected agriculture market.
North America has been an early adopter of connected agriculture solutions, owing to their highly developed infrastructure and adoption of various advanced technologies such as Machine Learning (ML), predictive analytics, Artificial Intelligence (AI), Internet of Things (IoT), and cloud and mobility. Advancements in these technologies have empowered agricultural stakeholders in the region to make more informed decisions about managing various agronomic operations.
APAC is projected to grow at the highest rate during the forecast period. The APAC region shows clear opportunities to change the trajectory of its agricultural sector. There is a growing demand for connected agriculture solutions and services as agriculture stakeholders in the APAC region are strongly focused on improving their efficiency in managing farming activities. Moreover, globalization and economic development in these regions are the major drivers behind the increasing adoption of connected agriculture solutions and services.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Connected Agriculture Market
4.2 Market By Application and Country (2018)
4.3 Market Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Increase Farm Yield and Reduce Labor
5.2.1.2 Government Initiatives for Modernizing the Agriculture Industry
5.2.2 Restraints
5.2.2.1 Poor Connectivity to Pose as the Biggest Hurdle in the Growth of the Connected Agriculture Market
5.2.2.2 High Capital Investment for Establishing Connected Agriculture Infrastructure
5.2.3 Opportunities
5.2.3.1 Integration of Mobile Technology in Farm Operations
5.2.3.2 Rapid Adoption of Sensors, IoT, and Advanced Farming Techniques in Agriculture
5.2.3.3 Implementation of AI and Predictive Analytics to Enhance the Efficiency of Farm Operations
5.2.4 Challenges
5.2.4.1 Lack of Awareness Among Farmers About Connected Agriculture
5.2.4.2 Lack of Standards for Data Management in the Agriculture Industry
5.3 Industry Trends
5.3.1 Use Case 1: Fujitsu
5.3.2 Use Case 2: Amazon Web Services (AWS)
6 Connected Agriculture Market By Component
6.1 Introduction
6.2 Solution
6.2.1 Growing Need to Increase Farm Productivity is Driving the Adoption of Connected Agriculture Solution
6.3 Platforms
6.3.1 Need to Build Efficient Connectivity and Synchronization Among Connected Farm Devices and Software is Driving the Adoption of Connected Agriculture Platforms
6.4 Services
6.4.1 Need to Empower Farmers to Enhance Farm Productivity Through Efficient Use of Connected Devices is Driving the Adoption of Connected Agriculture Services
7 Connected Agriculture Market By Platform
7.1 Introduction
7.2 Device Management
7.2.1 Growing Requirement for Access and Control Over Connected Devices is Driving the Adoption of Device Management
7.3 Application Enablement
7.3.1 Growing Need to Enhance Security to Combat Increasing Cyber Threats in the IoT Ecosystem is Driving the Adoption of Application Enablement
7.4 Connectivity Management
7.4.1 Need for Proper Connectivity for Effective Implementation of Connected Agriculture Technology on Farm is Driving the Adoption of Connectivity Management
8 Connected Agriculture Market By Service
8.1 Introduction
8.2 Consulting
8.2.1 Increasing Demand of Farmers to Improve Farm Yield With the Help of Expert Advice is Driving the Growth of Consulting Services
8.3 Integration and Implementation
8.3.1 Need to Avoid Complexities in the Deployment of Connected Agriculture Solutions to Drive the Growth of Integration and Implementation
8.4 Support and Maintenance
8.4.1 Need to Upkeep System Performance With Routine Infrastructure Maintenance is Driving the Growth of Support and Maintenance Services Segment
9 Connected Agriculture Market By Application
9.1 Introduction
9.2 Pre-Production Planning and Management
9.2.1 Field Mapping
9.2.2 Crop Planning and Yield Monitoring
9.2.3 Weather Tracking and Forecasting
9.2.4 Farm Labor Management
9.2.5 Equipment Monitoring and Maintenance
9.3 In-Production Planning and Management
9.3.1 Water and Irrigation Management
9.3.2 Breeding and Feed Management
9.3.3 Crop Scouting
9.3.4 Production Monitoring and Maintenance
9.3.5 Animal Tracking and Navigation
9.3.6 Agri Finance and Insurance Management
9.4 Post-Production Planning and Management
9.4.1 Processing
9.4.2 Inventory Management
9.4.3 Transportation
9.4.4 Quality Assurance and Control
10 Connected Agriculture Market By Region
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 Product/Solution Launches and Enhancements
11.2.2 Business Expansions
11.2.3 Acquisitions
11.2.4 Partnerships, Agreements, and Collaborations
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
12 Company Profiles
- Accenture
- AG Leader Technology
- AT&T
- Cisco
- Decisive Farming
- Deere & Company
- Gamaya
- IBM
- Iteris
- Microsoft
- Oracle
- SAP
- Satsure
- SMAG
- Trimble
For more information about this report visit https://www.researchandmarkets.com/research/4fj58p/4_3_bn_connected?w=12
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