Connected Agriculture Market Analysis

Connected Agriculture Market Overview

Connected Agriculture Market Size was valued at USD 3.5 Billion in 2022. The Connected Agriculture market industry is projected to grow from USD 4.16 Billion in 2023 to USD 16.62 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.90% during the forecast period (2023 - 2032).Increasing the number of telecommunications companies and increased need for cutting-edge gadgets are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Market CAGR for connected agriculture is driving the market, including the growth with an increasing global population comes a corresponding rise in famine. As a result of this exponential growth, the global population is predicted to increase. About 90 million people are added to the world's population every year. Farmers' reliance on climatic conditions for crop growth is a further complication. If the weather takes a turn for the worse, the crop yield will suffer, and the farmer will incur losses. Many countries worldwide need help producing enough food and raising enough livestock because of environmental challenges like global warming and deforestation. With the ever-increasing need for food, connected agriculture solutions help farmers make the most of their scarce water, seeds, land, and fertilizers. Connected agriculture technologies aid farmers in automating machinery, raising output while decreasing inputs, boosting productivity, and cutting costs. Optimizing farm operations using connected agricultural technologies is one way to deal with the gap between supply and demand in the food industry. Demand for connected agriculture is expected to rise due to the issues mentioned above in the future.

Additionally, increasing agricultural yields at lower prices and with less impact on the environment is possible with better water management in agriculture. The agricultural elite is worried about water scarcity and is working to control water use in the sector better. Connected agriculture uses tools for water management, such as the Internet of Things mobile apps, big data analytics, and decision support systems, to boost their efficiency and sustainability in feeding a rapidly expanding human population. Water use, total water use, soil moisture, air humidity, temperature, weather, pollutants, and more may all be tracked in "connected agriculture," thanks to the data-gathering capabilities of sensors and IoT networks. Automating water management operations with well-designed integration to employ fundamental water-saving measures frees up time for farmers to focus on other tasks. Therefore, the increasing prevalence of connected agriculture is fueling the expansion of the international market.

For instance, the AGCO Corporation and Bosch BASF Smart Farming have announced that they will work to commercialize and implement the Smart Spraying technology on Fendt Rogator sprayers. Trials of Bosch BASF Smart Farming's breakthrough Smart Spraying Solution, which will allow for targeted spraying during day and night circumstances and achieve optimal pesticide savings without compromising weed control, have begun between AGCO and Bosch BASF Smart Farming. As a result, the demand for connected agriculture is predicted to grow throughout the forecasted time due to the rising demand for boost crop yields. Thus, the driving factor is the connected agriculture market revenue.

Connected Agriculture Market Segment Insights

Connected Agriculture Application Insights

The global connected agriculture market segmentation, based on application, includes farming planning & management, smart logistics, agriculture finance and smart irrigation. In 2022, the farming planning & management segment led the connected agricultural market in revenue because of the unpredictability of nature, the economy, and farm output. Connected agriculture's in-production management component improves product quality, increases output, and decreases per-unit costs. In-production management can achieve effective yields, which gives farmers access to real-time data for proactive decision-making.

Connected Agriculture Component Insights

The global connected agriculture market segmentation, based on the component, includes solutions, services, and platforms. The solution category is expected to grow fastest at a CAGR of 18.90% due to the increased crop yields are only one benefit that farmers may get from using remote monitoring provided by connected agricultural technologies. By allowing farmers to anticipate better soil moisture and dryness, erosion, and other conditions that promote crop growth, connected agricultural technologies help farmers raise production output and improve food quality. Using internet-connected farming technologies simplifies financial dealings for farmers in the countryside.

Figure 1: Global Connected Agriculture Market by Component, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Connected Agriculture Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American connected agriculture market will dominate because several countries are investing much in introducing modern, connected farming techniques. In addition, cloud-based agricultural technologies are on the rise in the nations with the greatest need.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLOBAL CONNECTED AGRICULTURE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s connected agriculture market accounts for the second-largest market due to improved resource management by increasing spending on cloud-based technologies and adopting connected agriculture solutions. Further, the connected agriculture market held the largest market share, and the UK-connected agriculture market was the fastest-growing market in the European region.

The Asia-Pacific connected agriculture market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing research and development efforts for the connected agriculture sector, the growing popularity of connected agriculture technological progress and the falling cost of farming tools. Moreover, China’s connected agriculture market held the largest market share, and the Indian connected agriculture market was the fastest-rising market in the Asia-Pacific region.

Connected Agriculture Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the connected agriculture market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's global footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the connected agriculture industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the globally connected agriculture industry to benefit clients and increase the market sector. In recent years, the connected agriculture industry has offered some of the most significant technological advancements. Major players in the connected agriculture market, including Microsoft Corporation (U.S), IBM Corporation (U.S), AG Leader Technology (U.S), Cisco Systems Inc (U.S), AT &T (U.S), Accenture PLC (Ireland), Orange Business Services(France), SAP A.G (Germany), Epicor Software Corporation (U.S), Syspro Technologies (U.S), Vodafone Group PLC (U.K), SAGE (U.K), AGCO Corporation (U.S), Raven Industries INC (U.S), and others are attempting to grow market demand by investing in research and development operations.

Orange Business is the division of Orange Group that caters only to commercial enterprises. Orange Business aims to become Europe's preeminent network and digital integration services provider by capitalizing on the company's extensive experience with cutting-edge networking technology, cloud services, and security. Because of our background as both a telecommunications provider and an information technology services provider, we are uniquely positioned to aid the global enterprise sector in its ongoing transition to digital. Our 29,000-strong workforce of B2B gurus globally is our biggest strength. We assist companies in reimagining their offerings while advocating for an ethical, responsible, and inclusive view of digital technology. Acting this way benefits our clientele, staff, and the environment. In March 2023, Stolt-Nielsen, a world leader in bulk liquid shipping and sustainable land-based aquaculture, chose Orange Business to provide a Secure Access Service Edge (SASE) solution. It blends SD-WAN connectivity with global Security Service Edge (SSE) to support the company's global, hybrid workforce and drive business growth.

Cisco is the undisputed global leader in IT that safely links everything together to make anything doable. By assisting clients in reimagining apps, enabling hybrid work, securing the enterprise, transforming the infrastructure, and attaining sustainability goals, we hope to fuel a future accessible to all. In the United States or other countries, Cisco or its affiliates own the trademark rights to, use, and display the Cisco name and logo. Since our inception in 1984, we have focused on helping businesses with their toughest problems. Len Bosack and Sandy Lerner, both employees of Stanford University, wished to contact one other from their separate workplaces but could not do so due to technological limitations. Due to the need for a solution to the problem of supporting several LAN protocols, the multiprotocol router was developed. In June 2023, Cisco released a new Full-Stack Observability Platform, a vendor-neutral solution that takes advantage of the company's entire product line. It provides contextual, linked, and predictive insights to reduce corporate risk and improve customer satisfaction.

Key Companies in the Connected Agriculture Market include

• 
  

  Microsoft Corporation (U.S)

  
  


• 
  

  IBM Corporation (U.S)

  
  


• 
  

  AG Leader Technology (U.S)

  
  


• 
  

  Cisco Systems Inc (U.S)

  
  


• 
  

  AT &T (U.S)

  
  


• 
  

  Accenture PLC (Ireland)

  
  


• 
  

  Orange Business Services(France)

  
  


• 
  

  SAP A.G (Germany)

  
  


• 
  

  Epicor Software Corporation (U.S)

  
  


• 
  

  Syspro Technologies (U.S)

  
  


• 
  

  Vodafone Group PLC (U.K)

  
  


• 
  

  SAGE (U.K)

  
  


• 
  

  AGCO Corporation (U.S)

  
  


• 
  

  Raven Industries INC (U.S)

  
  

Connected Agriculture Industry Developments

March 2023: IBM has released a new tool for keeping company records of their greenhouse gas pollution across cloud services and improving their sustainability as they move to hybrid and multi-cloud environments. The IBM Cloud Carbon Calculator, an AI-powered dashboard, is now available to everyone. It can help clients access emissions data for various IBM Cloud tasks, such as AI, high-performance computing (HPC), and financial services.

June 2023: SAP has announced that it will work with DeHaat to help increase local micro entrepreneurs' success and improve the social, economic, and environmental sustainability of Indian agriculture. DeHaat is India's largest full-stack AgriTech firm, and its mission is to improve farmers' lives via technology by delivering 360-degree solutions across the whole crop lifecycle.

Connected Agriculture Market Segmentation

Connected Agriculture Application Outlook

• 
  

  Farming planning and management

  
  


• 
  

  Smart logistics

  
  


• 
  

  Agriculture finance

  
  


• 
  

  Smart irrigation

  
  

Connected Agriculture Component Outlook

• 
  

  Solutions

  
  


• 
  

  Services

  
  


• 
  

  Platforms

  
  

Connected Agriculture Regional Outlook

• 
  

  North America

  
  

• 
  

  US

  
  


• 
  

  Canada

  
  

• 
  

  Europe

  
  

• 
  

  Germany

  
  


• 
  

  France

  
  


• 
  

  UK

  
  


• 
  

  Italy

  
  


• 
  

  Spain

  
  


• 
  

  Rest of Europe

  
  

• 
  

  Asia-Pacific

  
  
  
  
  • 
    

    China

    
    
  
  
  • 
    

    Japan

    
    
  
  
  • 
    

    India

    
    
  
  
  • 
    

    Australia

    
    
  
  
  • 
    

    South Korea

    
    
  
  
  • 
    

    Australia

    
    
  
  
  • 
    

    Rest of Asia-Pacific

    
    
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • 
    

    Middle East

    
    
  
  
  • 
    

    Africa

    
    
  
  
  • 
    

    Latin America