In a recent published report, Kenneth Research has updated the market report for Connected Agriculture Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Connected Agriculture Market products.
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According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.
Factors such as the increasing crop production worldwide and the concern for the decreasing arable land for the cultivation of crops, which is raising the need amongst farmers to develop modern agricultural methods that provide increased yield with low input resources, are anticipated to drive the growth of the market. According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.
Global Connected Agriculture Market was valued at USD 1.9 Billion for the year 2018. Connected Agriculture Market is further expected to grow at a CAGR of 19.1% from 2018 to reach USD 6.11 Billion by the year 2025. European region holds the major Market share whereas Asia Pacific region is considered as the fastest growing Market in the forecasted period. It is observed that the developing countries from an emerging Asia Pacific Market are anticipated to grow at a strongly in the next 5 years.
Connected agricultural marketing is contingent to swathe the services which are involved in improving an agricultural production from the farm to the customer. It is also the preparation, systematizing, directing and managing of agricultural production in such a way so as to meet the requirements of the farmer, manufacturer, and purchaser. Various consistent activities are occupied in doing this; for instance, transport, grading, growing and harvesting, distribution, planning production, packing and packaging, storage, and food processing, sale and advertising.
Considering to the development of agricultural marketing, mainly in rising countries, is inclined to focus on several areas, particularly on infrastructure expansion; information prerequisite; formal training of farmers and dealers in selling and post-harvest concerns; and support to expansion of an suitable policy surroundings. The term includes the complete array of supply chain operations. On the other hand, its main function is to assist these services, by giving that proficient and well-informed information, thus connecting the additional operations into an incorporated service with besieged products.
Major Players in Connected Agriculture Market are IBM, TeeJet Technologies, Microsoft Corp., Raven Industries Inc., AT&T, Deere & Company, SAP SE, Accenture, AGCO Corp, Cisco, Hexagon AB, Oracle Corp., Iteris, Trimble Navigation Ltd., Orange Business Services, SMAG, Ag Leader Technology, Syspro Technologies, Decisive Farming, Gamaya, Vodafone Group PLC, and SatSure. Better geographical reach at an operational level with the growing usage of innovative technology for ingredient processing is the assisting Market growth. Similarly, various growth strategies adopted by Tier 1 & 2 players such as merger and acquisition has provided comprehensive Market opportunities for a various stakeholder in the value chain.
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SWOT Analysis of Connected Agriculture Market
Strength
Important changes in market dynamics
Former, on-going, and projected market analysis in terms of volume and value
Weakness
Require high cost to implement this Technology.
Opportunities
offers various financial services such as micro-lending services, micro-insurance services, and mobile payments services.
Threats
Awareness in farmers, Education to farmers
Connected Agriculture Market by Service
*Consulting
*Integration and Implementation
*Support and Maintenance
Connected Agriculture Market by Component
*Solution
*Platforms
*Services
Connected Agriculture Market by Platform
*Device Management
*Application Enablement
*Connectivity Management
Connected Agriculture Market by Application
*Pre-Production Planning and Management
*In-Production Planning and Management
*Post-Production Planning and Management
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Connected Agriculture Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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