“The evolution of agricultural technologies has witnessed a major acceptance in the agricultural industry in the recent years as they have resulted in improved revenue margins and levels of income of agricultural households in rural areas. This has encouraged organizations to provide better agri-mobile based solutions for farmers in developing regions. With the increase in the levels of corruption and lack of availability of proper bandwidth for communication has impacted the overall income and standard of living of farmers in rural areas. This has resulted in heavy investments in the connected agriculture market.
The primary drivers for the connected agriculture market includes enhancing the agricultural revenue margins, implementing agricultural management systems, increasing investments in rural infrastructure projects, and promoting public private partnerships projects. The connected agriculture market is expected to witness a high growth rate in the developing countries since major telecom operators have implemented agri-mobile based solutions to enhance the incomes of farmers and reduce the loss of nutritional value of the produce during transit. However, the lack of awareness about innovative mobile-based agricultural solutions in remote areas of emerging regions is acting as a restraint for the growth of market.
This report provides an in-depth analysis of the connected agriculture market across the types of services, applications, solutions, and regions. Connected agriculture services consist of mobile payment services, mobile information services, micro insurance services, and micro lending services. Connected agriculture includes solutions such as agricultural trading, agricultural tendering, and agricultural bartering. The applications have been segmented into smart logistics and smart irrigation.
The connected agriculture market is expected to grow from USD 353.5 million in 2015 to USD 1,090.8 million by 2020, at a Compound Annual Growth Rate (CAGR) of 25.3% from 2015 to 2020. Some of the key players in this market include Cisco, Orange, Vodafone, SAP, Trimble navigation and many more.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise, which include political, economic, social, technological, and economic factors. It is assumed that the dollar fluctuations will not seriously affect the forecasts in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
1. The connected agriculture report segments the market into various sub segments covering this market comprehensively. The report provides the closest approximations of the market size for the overall market and the sub segments.
2. The connected agriculture report will help in the understanding of the competitors better and gain more insights to strengthen oneâs market position. There is a separate section on competitive landscape, which includes competitor ecosystem and mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of the top ten players in connected agriculture market, where market internals that can put one ahead of the competitors, have been provided.
3. The connected agriculture report also helps in understanding the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.