Connected Agriculture Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Connected Agriculture Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 increasing global population, demand for sustainable agriculture practices, government initiatives and subsidies, climate change and weather variability, globalization of agriculture markets, improving 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 focus on soil health monitoring, efforts to bridge the digital divide, focus on yield optimization, environmental conservation initiatives, smart irrigation systems. Major trends in the forecast period include adoption of iot technologies, precision farming practices, use of drones and uavs, smart irrigation systems, farm management software, emergence of agri-tech startups, telematics in equipment monitoring.

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Market Drivers and Trends:

Increasing demand for advanced farming solutions is expected to propel the growth of the connected agriculture market going forward. Advanced farming solutions encompass a range of innovative technologies and practices aimed at improving the efficiency, sustainability, and productivity of agricultural operations. Advanced farming solutions, along with connected agriculture, form a powerful synergy that enables farmers to enhance productivity, sustainability, and overall efficiency in their operations. For instance, in February 2023, Agtonomy, a US-based ag tech software company with a focus on developing climate-smart solutions for specialty crop farmers, announced its new TeleFarmer Solution. TeleFarmer empowers farmers to remotely execute labour-intensive field tasks such as weeding, spraying, mowing, and transporting. The solution is a game changer for many specialty crop farmers who are battling crippling labour shortages and associated rising costs. Therefore, increasing demand for advanced farming solutions will drive the growth of the connected agriculture market.

Technological advancements have emerged as a key trend gaining popularity in the connected agriculture market. Major companies operating in the connected agriculture market are focused on innovating new technologies to sustain their position in the market. For instance, in January 2021, John Deere, a US-based manufacturer of agricultural machinery and heavy equipment introduced """"Work Planner"""" as a centralized tool to its operations center platform. As part of the most recent updates to John Deere's Digital Ecosystem, the 'Work Planner' software is being made available online. For the operator, this means that as soon as they pull into a paddock, a pop-up window on the Generation 4 Command Center opens with the work plan for that field, and they may start collecting data by clicking one button. Work Planner enables users to monitor equipment and fieldwork from anywhere using the Operations Center mobile app.

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Major Key Players of the Market:

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, RML AgTech Pvt. Ltd.

Connected Agriculture Market 2024 Key Insights:

• 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%.
• Enhancing Agricultural Processes With Connected Agriculture For Increased Crop Production
• Technological Advancements Drive Innovation In Connected Agriculture Market
• North America was the largest region in the connected agriculture market in 2023

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