Press release
Global Connected Agriculture Market Expected to Achieve 16.3% CAGR by 2029: Growth Forecast Insights
Connected Agriculture
How Large Will the Connected Agriculture Market Size By 2025?
There has been a swift expansion in the size of the connected agriculture market in the past few years. The market size is projected to surge from $3.55 billion in 2024 to $4.09 billion in 2025, with a compound annual growth rate (CAGR) of 15.1%. Factors attributing to the growth in the historic period include rising global population, the need for sustainable agriculture methods, government schemes and subsidies, climate change and inconsistencies in weather, globalization of agricultural markets, and advancements in connectivity infrastructure.
How Big Is the Connected Agriculture Market Size Expected to Grow by 2029?
The market size of connected agriculture is poised for a dramatic surge in the upcoming years, reaching $7.49 billion in 2029 with a cumulative annual growth rate (CAGR) of 16.3%. The expansion predicted in that period is due to increased attention on monitoring soil health, initiatives to lessen the digital gap, commitment to yield maximization, environmental preservation endeavors, and smart irrigation systems. The period of growth will also witness numerous trends: acceptance of IoT technologies, implementation of precision farming techniques, deployment of drones and Unmanned Aerial Vehicles (UAVs), use of smart irrigation setups, farm management software, rising agri-tech startups, and the advent of telematics in equipment surveillance.
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Which Key Market Drivers Powering Connected Agriculture Market Expansion and Growth?
The growth of the connected agriculture market is anticipated to be fuelled by the rising demand for crops. Agriculture crops are any plant or plant product that can be extensively grown and harvested for monetary gain or to meet dietary needs. Connected agriculture can augment crop yields from the current farmland by proactively monitoring, assessing, managing, and improving vital farming procedures throughout the agricultural cycle. For example, India has set the aim for total food grain production at 328 million tons for the period of 2022-23, an increase from 316 million tons in 2021-22. Consequently, this rising crop demand is expected to propel the connected agriculture market's expansion.
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Which Fast-Growing Trends Are Poised to Disrupt the Connected Agriculture Market?
Leading firms in the connected agriculture market are prioritizing the launch of advanced solutions like agricultural robots to deliver dependable services to their clientele. These robots are engineered specifically for farming applications, offering tasks like harvesting, weed elimination, cloud seeding, seed planting, environmental surveillance, soil testing, and livestock handling to agriculturalists, thus boosting overall productivity. For example, in May 2022, Solinftec, an ag-tech firm based in Brazil, unveiled Solix. This autonomous crop surveillance robot functions on a per-plant basis to optimize efficiency and production, delivering real-time field data. Solix serves as a platform for connected agriculture, powered by solar energy and featuring lithium-ion batteries for power storage. The robot comes with an in-built camera, sensors, coupled with artificial intelligence (AI) tech to keep track of plant wellbeing, identify insect damage, and note field alterations.
What Are the Emerging Segments in the Connected Agriculture Market?
The connected agriculturemarket covered in this report is segmented -
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
Subsegments:
1) By Solution: Crop Management Solutions, Livestock Management Solutions, Soil Management Solutions
2) By Platforms: Cloud-Based Platforms, IoT Platforms, Data Analytics Platforms
3) By Services: Consulting Services, System Integration Services, Maintenance And Support Services
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Who Are the Global Leaders in the Connected Agriculture Market?
Major companies operating in the connected agriculture market 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, RML AgTech Pvt. Ltd.
Which are the Top Profitable Regional Markets for the Connected Agriculture Industry?
North America was the largest region in the connected agriculture market in 2024. 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.
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