According to the new market research report "Connected Agriculture Market by Component (Solution, Platforms, and Services), Application (Pre-Production Planning and Management, In-Production Planning and Management, and Post-Production Planning and Management), and Region - Global Forecast to 2023", The connected agriculture market is expected to grow from USD 1.8 billion in 2018 to USD 4.3 billion by 2023, at a CAGR of 19.3% during the forecast period.
Need to increase farm yield and reduce labour cost, and rising government initiatives for modernizing the agriculture industry are some of the major factors driving the growth of the connected agriculture market globally.
Report Objectives
• To define, describe, and forecast the connected agriculture market by component (solution, platforms, and services), application, and region
• To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
• To analyze the market with respect to individual growth trends, prospects, and contributions to the market
• To forecast the market size of 5 main regional segments, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
• To profile the key players in the market and comprehensively analyze their core competencies in each microsegment
• To analyze the competitive developments, such as agreements, partnerships, alliances, and acquisitions, in the connected agriculture market
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=469728
Recent Developments
• In December 2018, Iteris collaborated with Hummingbird Technologies, a UK-based drone and satellite-enabled data and imagery analytics business, for precision agriculture. The move aimed at collaborating Iteris’ ClearAg smart content onto Hummingbird Technologies’ aerial crop analysis platform. This collaboration would empower users by enhancing the ability to detect crop diseases at early stages of the crop life cycle and minimize risks while improving productivity.
• In September 2018, SAP signed an agreement with CrowdFarmX, a Singaporean startup, to deploy its S/4 HANA public cloud. As per this agreement, CrowdFarmX would be able to speed up the onboarding process of farmers on its platform, thereby enabling them to connect directly to the global market. It would also assist farmers in enabling their customers to deliver high-quality and huge-quantity yields.
• In October 2018, Microsoft partnered with SlantRange, a leading provider of remote sensing and analytics system for agriculture. This partnership enabled SlantRange to offer new aerial measurements and data solutions for the agriculture industry.
• In June 2018, The Weather Company, an IBM business, partnered with one of the leading Indian agro start-ups, AgroStar. The partnership aims at transforming the traditional agricultural operations in rural parts and enables farmers to make informed decisions to increase productivity. As per the terms of the partnership, AgroStar would leverage the local weather forecast data and insights from The Weather Company and provide critical insights into crop disease risks and the probability of risk and disease occurrences to help farmers reduce the extent of crop damage and increase the yield.
The major connected agriculture vendors include IBM (US), Microsoft (US), AT&T (US), Deere & Company (US), SAP SE (Germany), Accenture (Ireland), Cisco (US), Oracle (US), Iteris (US), Trimble (US), SMAG (France), Ag Leader Technology (US), Decisive Farming (Canada), Gamaya (Switzerland), and SatSure (UK). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to further expand their presence in the global connected agriculture market. Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2015 to 2018, which have helped them innovate their offerings and broaden their customer base.
Contact:
MarketsandMarkets™ INC.
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/connected-agriculture-market.asp