Connected Agriculture Market to Rise at 19.1%; Growing Emphasis on Smartphone-integrated Tools Will Aid Growth, says Fortune Business Insights™

Pune, June 09, 2020 (GLOBE NEWSWIRE) — 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.
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Report Overview:The report provides a thorough analysis of the global connected agriculture market across five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It analyzes the ongoing trends in each of these regions and highlights the products that have witnessed the highest demand. Besides this, it highlights the factors that have had the highest impact on the market in recent years. The competitive landscape has been discussed in detail and predictions have been made with respect to leading companies and the strategies adopted by these companies. Moreover, the report includes market figures for a forecasted period of 2019-2026.Major Drivers: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 AmericaThe 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.
List of the key Companies Profiled in the Connected Agriculture Market Research Report are:
IBM CorporationMicrosoftCisco Systems Inc.Iteris Inc.Trimble Inc.Ag Leader TechnologyDecisive FarmingGAMAYASWIIM System, Ltd.Orange Business ServicesLINK LABS.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.
IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsIndustrial Use CasesKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersGlobal Connected Agriculture Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Size Estimates and ForecastsBy Component (Value)SolutionsServicesConsultingIntegration and ImplementationSupport and MaintenanceBy Application (Value)Pre-Production ManagementIn-Production ManagementPost-Production ManagementBy Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued…!!!
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