The global connected agriculture market size is projected to reach USD 7.22 billion by the end of 2026. The demand for smart water management will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Connected Agriculture Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Application (Pre-Production Management, In-Production Management, Post-Production Management) and Regional Forecast, 2019-2026,” the market was worth USD 1.84 billion in 2018 and will exhibit a CAGR of 19.1% during the forecast period, 2019-2026.
To Gain More Insights into the Connected Agriculture Market, Browse Summary of the Research Report: https://www.fortunebusinessinsights.com/connected-agriculture-market-102061
The increasing demand for inventory and labor management in agricultural activities will create a wide adoption of connected agriculture across the world. Recent technological advancements in these systems have yielded products of high calibre. A few of the latest connected agriculture systems cater to the environmental-preservation needs. The increasing awareness regarding water consumption and shortages and contributions from government as well as private organizations will have a direct impact on the market in the coming years. Use of automated concepts such as artificial intelligence and machine learning have allowed improved efficacies. The rising demand for maximum product efficacies with minimum energy consumption will emerge in favor of the companies operating in this market.
List of Companies Profiled:
- IBM Corporation
- Cisco Systems Inc.
- Iteris Inc.
- Trimble Inc.
- Ag Leader Technology
- Decisive Farming
- SWIIM System, Ltd.
- Orange Business Services
- LINK LABS.
Request a Sample Copy for more detailed Connected Agriculture Market Overview: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/connected-agriculture-market-102061
- Increasing Demand for Smart Water Management: With regard to the ongoing issues surrounding global warming and excessive use of energy resources across the world, water saving is the focus of attention among major businesses and activists around the world. Water shortages across the world have brought about the need for sustainable devices and products favouring less consumption and maximum output. The use of connected agriculture caters to the aforementioned factors.
- Increasing Penetration of Smartphone and Internet: As connected agriculture includes the use of smartphone and applications, the increasing usage of internet creates a huge platform for market growth. In a bid to establishing a stronghold in the market, several companies are promoting the use of connected agriculture equipment by developing mobile phone applications. This will not only help the company generate substantial market revenue, but will encourage the use of connected agriculture devices across the world.
High Investment in Product R&D to Aid Growth of the Market in North America
The market in North America is projected to account for a comparatively higher share over other regions. The emphasis on development of advanced farming technologies by major companies has been key to the growth of the market in this region. Moreover, the growing investment in the development of these products, and encouragement by government as well as private organization will aid the growth of the market in this region. “Driven by increasing use of AI and predictive analysis, connected agriculture is gaining rapid popularity across the United States,” said a lead analyst at Fortune Business Insights. As of 2018, the regional market was valued upward of USD 626.7 million.
Noteworthy Industry Developments:
- December 2018: Tech-giant IBM announced a collaboration with agro-based ‘HelloTractor’. Through this collaboration, IBM plans to introduce an advanced agricultural analytics as well as decision-making platform.
October 2018: Microsoft announced that it plans to implement a new set of scalable aerial measurements and data solutions concept, aimed at agriculture. The company plans to collaborate with Slant Range Inc. and will look to maximize its utilities for the same.
Purchase Full Report for Exclusive Connected Agriculture Market Growth Forecast – https://www.fortunebusinessinsights.com/checkout-page/102061
Other Exclusive Reports:
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/connected-agriculture-market-102061
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]