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Connected Agriculture - Global Market Trajectory & Analytics

  • ID: 4804194
  • Report
  • April 2021
  • Region: Global
  • 280 pages
  • Global Industry Analysts, Inc
Global Connected Agriculture Market to Reach $6.3 Billion by 2027

Amid the COVID-19 crisis, the global market for Connected Agriculture estimated at US$2.1 Billion in the year 2020, is projected to reach a revised size of US$6.3 Billion by 2027, growing at a CAGR of 16.8% over the analysis period 2020-2027. Solutions, one of the segments analyzed in the report, is projected to record a 17.9% CAGR and reach US$3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 16.2% CAGR for the next 7-year period.



The U.S. Market is Estimated at $571.5 Million, While China is Forecast to Grow at 21.8% CAGR

The Connected Agriculture market in the U.S. is estimated at US$571.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 21.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.1% and 14.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.3% CAGR.

Platforms Segment to Record 15.4% CAGR

In the global Platforms segment, USA, Canada, Japan, China and Europe will drive the 14.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$298.3 Million in the year 2020 will reach a projected size of US$768.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$980.3 Million by the year 2027, while Latin America will expand at a 17.1% CAGR through the analysis period.

Select Competitors (Total 46 Featured):
  • Accenture PLC
  • AT&T, Inc.
  • Cisco Systems, Inc.
  • IBM Corporation
  • Link Labs, Inc.
  • Microsoft Corporation
  • Parametric Technology Corporation
  • SAP SE
  • Trimble Navigation Ltd.
  • Vodafone Group PLC
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I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Connected Agriculture: Market Overview
  • COMPETITION
  • Exhibit 1: Global Connected Agriculture Market: Percentage Breakdown of Volume Sales by Leading Players
  • Impact of Covid-19 and a Looming Global Recession
  • Government Initiatives in Agriculture Industry Fuels Demand for Connected Agriculture
  • Poor Connectivity: A Major Constraint in Growth of Connected Agriculture
  • Huge Capital Investment acts as a Speed Breaker in Building Connected Agriculture Infrastructure
  • Adoption of Sophisticated Farming Techniques: A Major Growth Driver
  • Ever-Increasing Global Population Compels Shift towards Connected Agriculture
  • High Deployment Costs: A Restraint
  • Agri-Mobile Driven Solutions Propels Demand for Connected Agriculture
  • Demand for High Agricultural Productivity Supports Growth of the Market
  • Internet of Things (IoT) Plays a Major Role in Connected Agriculture
  • IoT Applications in Smart Agriculture
  • Exhibit 2: Global Agricultural IoT Device Market: Unit Shipments In Million
  • Exhibit 3: Global Agricultural Drone Market: Value Sales in US$ Million for Years 2015 through 2021
  • INNOVATIONS & ADVANCEMENTS
  • IBM Enters into Partnership with Government of India to Develop Crop Yield Prediction Model
  • Microsoft and CNH Industrial Enter into Partnership to Redefine the World of Connected Agricultural Machines and Industrial Vehicles
  • PRODUCT OVERVIEW
  • Connected Agriculture: An Overview
  • Information & Communications Technology in Agriculture: An Insider
  • Agricultural Drone: An Insight
  • REGIONAL MARKET OVERVIEW
  • Exhibit 4: European Union (EU) Agricultural IoT Market: Active Connections in Million
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 46
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