New York, United States , July 29, 2024 (GLOBE NEWSWIRE) -- The Global Agriculture Supply Chain Management Market Size is to Grow from USD 0.81 Billion in 2023 to USD 2.14 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.20% during projected period.
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The primary tasks that supply chains concentrate on are the acquisition of raw materials, their conversion into completed products, and their distribution to end users. Supply chain management, or SCM, in the context of agribusiness, refers to the management of the relationships between the businesses in charge of the efficient production and delivery of products from the farm level to the final consumer, meeting the latter's demands in terms of quantity, quality, and cost. This usually relates to managing horizontal and vertical partnerships as well as the interactions and protocols between companies. Furthermore, modern techniques and growing demand for agricultural products have led to a major expansion of the market. Businesses have partnered, invested, and released new products to expand their market share and global reach. Additionally, a range of agricultural supply chain and demand operations have been using cloud-based software more and more recently. Furthermore, customers gain from a cloud-based supply chain in several ways. Many cloud companies can improve their offerings and save a substantial amount on the total cost of solutions. Among the many benefits that agriculture-based businesses enjoy are lower risk, greater visibility, faster deployment, and more flexibility. However, the market is moderately consolidated, with a few prominent firms operating across many regions. Furthermore, the cost of implementing an agricultural supply chain management system drives up the price of the completed products that are supplied.
Browse key industry insights spread across 222 pages with 120 Market data tables and figures & charts from the report on the "Global Agriculture Supply Chain Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Solutions, and Services), By Solution (Manufacturing Execution System, Procurement & Sourcing, Transportation Management System, Supply Chain Planning, and Warehouse Management System), By Deployment (On-Demand & Cloud-Based, and On-Premise), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The hardware segment is anticipated to hold the greatest share of the global agriculture supply chain management market during the projected timeframe.
Based on components, the global agriculture supply chain management market is divided into hardware, solutions, and services. Among these, the hardware segment is anticipated to hold the greatest share of the global agriculture supply chain management market during the projected timeframe. The performance of this segment is expected to be driven during the forecast period by the increasing demand for cutting-edge hardware and technology. Market players and big manufacturers need a range of innovative components to increase supply capacity. The growing need for advanced machinery and technology has caused this market to grow dramatically.
The manufacturing execution system segment is predicted to grow at the fastest pace in the global agriculture supply chain management market during the projected timeframe.
Based on the solution, the global agriculture supply chain management market is divided into manufacturing execution system, procurement & sourcing, transportation management system, supply chain planning, and warehouse management system. Among these, the manufacturing execution system segment is predicted to grow at the fastest pace in the global agriculture supply chain management market during the projected timeframe. Due to the increased need for both advanced agricultural equipment and agricultural products among people. Transportation is the primary requirement for meeting demand, the supply chain, and providing customers with the necessary products. The management of transportation facilities helps producers to complete deliveries on time.
The on-premise segment is predicted for the highest revenue share in the global agriculture supply chain management market during the estimated period.
Based on the deployment, the global agriculture supply chain management market is divided into on-demand & cloud-based, and on-premise. Among these, the on-premise segment is predicted for the highest revenue share in the global agriculture supply chain management market during the estimated period. Customers can receive real-time assistance at their sites via on-premise services, which will aid in the market's growth. The organization of significant data and the analysis of that data for the client through emails and phone calls has been one of the primary growth factors. The capabilities of the on-premises architecture can be used to collect and display the data throughout the process. It is expected that the form will utilize chatbots to take advantage of its IT infrastructure.
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Asia Pacific is expected to hold the largest share of the global agriculture supply chain management market over the forecast period.
Asia Pacific is expected to hold the largest share of the global agriculture supply chain management market over the forecast period. Its major global contribution has led to its dominant position in the agriculture supply chain management sector. The robust expansion of the Asia Pacific economy can be attributed to the establishment of multiple new corporations and the substantial investments made by these firms in agriculture. Productivity is expected to increase rapidly since modern technology and equipment are becoming more and more necessary.
North America is predicted to grow at the fastest pace in the global agriculture supply chain management market during the projected timeframe. The agricultural supply chain services industry in North America, particularly in the US, is using online solutions more and more to improve efficiency and streamline operations. Online technologies that automate the offline manual operations of supply chain services have made it easier for agricultural producers to track their suppliers and supply chains. Digital platforms are also being used for data exchange and communication across various supply chain actors to improve coordination and decision-making.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Agriculture Supply Chain Management Market include FCE Group AG, Agri Value Chain, Bext360, Ambrosus, ChainPoint, AgriDigital, eHarvestHub, Eka, GrainChain, Inc., Geora Ltd., IBM, Trellis Ltd., Intellync, SAP SE, and Others.
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Recent Developments
- In May 2022, Star Index and Intellync, a provider of supply chain management technologies, partnered. By reducing resource requirements, and improving facilitation, data reporting, data capture, and risk assessment across the various supply chains connected to the food and agricultural industries, the combined knowledge of the two companies aims to maximize benefits to potential customers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Agriculture Supply Chain Management Market based on the below-mentioned segments:
Global Agriculture Supply Chain Management Market, By Component
- Hardware
- Solutions
- Services
Global Agriculture Supply Chain Management Market, By Solution
- Manufacturing Execution System
- Procurement & Sourcing
- Transportation Management System
- Supply Chain Planning
- Warehouse Management System
Global Agriculture Supply Chain Management Market, By Deployment
- On-Demand & Cloud-Based
- On-Premise
Global Agriculture Supply Chain Management Market, Regional Analysis
-
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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