Connected Agriculture Market Size, Share, Industry Trends and Forecast to 2030

Connected Agriculture Market Size & CAGR in 2021

The global connected agriculture market is projected to witness a CAGR of 15.4% from 2021 to 2026. This growth is fueled by the increasing adoption of IoT, AI, and precision agriculture techniques in the agri-food industry. The market size is estimated to reach USD 6.22 billion by 2021.

COVID-19 Impact on the Connected Agriculture Market

The COVID-19 pandemic has highlighted the importance of digital technologies in agriculture. With restrictions on movement and social distancing norms, farmers are increasingly turning to connected agriculture solutions to remotely manage their farms. This has led to a surge in demand for smart farming technologies and is expected to drive the growth of the connected agriculture market.

Connected Agriculture Dynamics

The connected agriculture industry is witnessing rapid growth due to the increasing need for sustainable farming practices, rising awareness about food security, and the integration of advanced technologies in agriculture. Farmers are adopting connected agriculture solutions to optimize resource usage, increase productivity, and reduce environmental impact.

Segments and Related Analysis

The connected agriculture market can be segmented based on components, applications, and regions. The components include hardware, software, and services. Applications of connected agriculture include precision farming, livestock monitoring, smart irrigation, and others. Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

By Region Analysis

- North America: The North American region is leading the connected agriculture market due to the high adoption of advanced technologies in agriculture and government initiatives to promote smart farming practices. - Europe: Europe is witnessing significant growth in the connected agriculture market, driven by the presence of key players, favorable government policies, and the increasing demand for sustainable agriculture practices. - Asia Pacific: The Asia Pacific region is projected to grow at a rapid pace in the connected agriculture market due to the increasing population, rising need for food production, and adoption of IoT and AI in agriculture. - Latin America: Latin America is experiencing growth in the connected agriculture market with the adoption of precision farming techniques and the need to address food security challenges. - Middle East and Africa: The MEA region is also witnessing growth in the connected agriculture market due to the adoption of digital technologies in agriculture and the focus on increasing agricultural productivity.

Key Market Players and Competitive Landscape

Some of the key players in the connected agriculture market include Trimble Inc., John Deere, AGCO Corporation, Cisco Systems, IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, and others. These companies are focusing on collaborations, partnerships, and product innovations to gain a competitive edge in the market.

Recent Happenings in the Connected Agriculture Market

- In March 2021, Trimble Inc. announced the launch of its new Connected Farm solution, which enables farmers to remotely monitor their fields, crop conditions, and equipment using IoT technology. - In June 2021, John Deere introduced its JDLink Connect platform, which provides real-time data on machine performance, field conditions, and crop health to help farmers make informed decisions. - AGCO Corporation partnered with IBM in August 2021 to integrate IBM's AI and IoT technologies into AGCO's machinery, enhancing precision agriculture practices. - Microsoft Corporation and SAP SE collaborated in October 2021 to develop cloud-based solutions for connected agriculture, enabling farmers to optimize their operations and increase productivity. - Oracle Corporation launched its Oracle Food and Beverage Cloud in December 2021, offering farmers digital tools to track and manage their agricultural operations more efficiently.