Dallas, Texas, Nov. 30, 2020 (GLOBE NEWSWIRE) -- The “Connected Agriculture Market by Component (Solution, Platforms, and Services) Platform (Device Management, Application Enablement, and Connectivity Management), Service (Consulting, Integration and Implementation, and Support and Maintenance), Application (Pre-Production Planning and Management, In-Production Planning and Management and Processing), and by Region, Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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Increased demand for different solutions to boost farmers' returns stimulates the development of the connected agricultural sector. Also, different service providers are seen to be focused on the globally connected agricultural sector to provide their end-users with simultaneous knowledge. Also, mobile transaction service providers allow farmers to change their real-time costs. This further assisted development in the global connected agricultural sector, which is expected to provide many opportunities for market participants in the coming years. The development of the connected agricultural sector also depends on the prospects for a smooth economic activity in the countryside. Simple access to agricultural data is another aspect that is expected to fuel growth in the global connected agricultural sector in the coming years.
The global connected agriculture market size is projected to reach nearly USD 11,211.6 Million by 2028. Besides, it is projected to gather a CAGR of above 17% over the forecast years 2021-2028.
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The report also outlines the various characteristics of the global connected agriculture industry by assessing the market from value chain analysis. Moreover, the connected agriculture market report comprises various qualitative parts of the connected agriculture industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The connected agriculture market has solid competition amongst the already well-known and new market players. Besides, the connected agriculture industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
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Based on the components segment, the market is bifurcated into services, solutions, and platforms. In the year 2019, the services segment gathered the major growth and it is likely to maintain its position during the forecast years. The market growth of this segment is primarily ascribed to the growing need to enable farmers to enhance farm productivity through the effectual use of connected devices.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The market growth in this region is mainly ascribed to the rapid development of connected agricultural equipment in countries like Japan and India. However, the North American region held the highest market share in 2019 and it is projected to remain dominant during the forecast years 2018-2028.
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The major players of the global connected agriculture market are IBM, Microsoft, AT&T, Deere & Company, SAP SE, Accenture, Cisco, Oracle, Iteris, and Trimble, Moreover, the market comprises several other prominent players in the connected agriculture market that are SMAG, Ag Leader Technology, and Decisive Farming, The connected agriculture market consists of well-established global as well as local players. Besides, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Connected agriculture Market by Component
Chapter 6 Connected agriculture Market by Platform
Chapter 7 Connected agriculture Market by Service
Chapter 8 Connected agriculture Market by Application
Chapter 9 Connected Agriculture Market by Region
Chapter 10 Competitive Landscape
Chapter 11 Company Profiles
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