Market Overview
When every sector is
driving high with the development of technology, the agriculture sector is not
lacking behind. The connected agriculture technologies are highly developing
the farming techniques. These techniques are shifting towards the smart
cultivation process. The connected agricultural techniques include skilful
knowledge of proper seeds, fertilizers, production of crops, weather
forecasting, transportation, and other relevant processes. Implementation of
these processes can make the farming process more productive. The overall
farming period can be monitored easily by applying these techniques.
The growth factors are why
the market is accelerating in today's generation. The vast number of telecom
services are rising the demand of the Connected
Agriculture Market. Farmer's inclination
towards smart processes is helping the market to emerge in the future years.
This technology even has other benefits such as micro-lending services,
micro-insurance services, mobile payment services, applying for the loan
directly from the financial institute, and checking the commodity prices of
crops harvest and other services. The farmers' increased usage of mobile
technology is driving the Connected Agriculture Market.
The virus outbreak has
shown a negative impact on various marketing sectors. The agricultural sectors
even faced a tough situation due to lockdown rules. The operational units of
the technical areas remained closed, and even lack of labour was one of the
major constraints. The increase in the cost of food commodities also badly
affected the market; this resulted in disruption of the supply chain process.
But the market noticed a sudden positive impact due to the rise in concern
about health and immunity among the public. Therefore, the Connected
Agriculture Market will notice a good CAGR value in the coming
years.
The Connected
Agriculture Market is estimated to reach a CAGR value of 17 % and a
value worth USD 3 Billion during the forecast period.
Market Segmentation
The Connected
Agriculture Market is fragmented into components and applications. The
application segment of the market includes farming planning and management,
smart logistics, agriculture finance, and smart irrigation. These techniques
are adopted in different regions for smart cultivation. The component segment consists
of solutions, services, and platforms. The solution section is further divided
into network management, SCADA systems for agriculture asset management, and
smart water management. The service section has professional services and
managed services. The market is sub-divided into device management, application
enablement, and connectivity management in the platform segment, and these
platforms are best applicable for connected agricultural services.
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Regional Analysis
The regional report of
the Connected Agriculture Market shows the spread of the
market in various regions such as North America, Europe, Asia Pacific, Latin
America, and the Middle East & Africa. The North American region is the
dominating market region, which is estimated to hold the highest market share.
This region is noticing sheer growth due to small farmers' increased adoption
of connected agriculture technology. The US and Canada are considered the
leading regions of North America due to the implementation of advanced
agricultural techniques and agricultural infrastructure development. The Asia
Pacific is expected to hold the highest CAGR due to the investment in connected
agricultural services. The farming activities are majorly done in India and
China. Therefore the technological requirement in these countries is more.
Industry News
Zyter introduces smart
agriculture by implementing an IoT platform that supports precise agriculture
with automated crop management practices.
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