Connected Agriculture Market Size, Share, Growth Analysis, By Component(Solution, Platform and Services), By Platform(Device Management, Connectivity Management and Application Enablement), By Services(Consulting, Integration & Implementation and Support & Maintenance), By Application(Pre-Production Planning & Management (Field Mapping, Crop Planning and Yield Monitoring, Weather Tracking and Forecasting, Farm Labor Management and Equipment Monitoring and Maintenance)), By Region - Industry Forecast 2024-2031

Driver

• The connected agricultural market is expanding as a result of the rising need for possible solutions to boost farmers' return produce. Additionally, a number of service providers are seen concentrating on the worldwide connected agricultural industry in order to supply their end consumers with simultaneous information. Furthermore, farmers are able to control their real-time spending thanks to mobile-based transaction service providers. This has helped the market for connected agriculture around the world continue to grow.
• The ability to conduct business without trouble in rural areas is a factor in the growth of the connected agriculture sector. Another aspect that is expected to fuel expansion in the worldwide connected agriculture market over the next few years is the ease of access to agriculture information.

Restraint

• It is predicted that low end-user knowledge and expensive startup costs for connected farm technology will limit industry expansion. In order to acquire input data, farmers or producers must invest significantly in satellite equipment, drones, Geographic Information Systems (GIS), and Global Positioning Systems (GPS).
• For connected farming techniques and solutions to be implemented, a significant financial investment is needed. The majority of farmers on the planet are marginalized or small farmers who find it challenging to invest in this expensive machinery. Substantial investment, sustainable farming equipment, and knowledgeable, professional farmers are required for connected agriculture in order to employ this technology to gather fundamental data. Due to high technological expenditures, only large, industrialized farms have access to the newest technologies.