Agriculture Analytics Market

Report Overview

Product overview

 Agriculture Analytics Market to surpass USD 3.86 billion by 2031 from USD 0.92 billion in 2021 at a CAGR of 15.41% within the coming years, i.e., 2021-31.

Agriculture Analytics delivers real-time understandings that can be used by farmers or cultivators as inputs to enhance their agricultural performance according to the various weather conditions or disease outbursts. The use of technologies and big data analytics is still unused in the field of farming. The overview of big data analytics in agriculture has led to precision farming, thus saves time and capitals of the farmers along with better yield.

Market Highlights

Agriculture Analytics Market is predicted to project a notable CAGR of 15.41% in 2031

The upsurge in population with rise in demand for superior food products is a chief feature influencing the progress of the Agriculture Analytics Market. Furthermore, the rising adoption of smart technologies to allow accuracy agriculture and growing artificial intelligence and predictive analytics to expand the yield proposal important growth prospects for Agriculture Analytics Market players.

Agriculture Analytics Market: Segments

Solution segment to grow with the highest CAGR during 2021-2031

Based on Component, the market is segmented into Services and Solutions. Solution segment holds the highest market share of Agriculture Analytics Market. Rising need for more accurate crop forecasting and yield is driving the demand of Agriculture Analytics Solutions as the solution services in evaluating decades of crops information and support agriculturalists in predicting the number and state of crops produced before the seed are even planted. Agriculture Analytics Solutions has the capability to maximize crop production in the shortest timeframe. 

Livestock Analytics Segment to grow with the highest CAGR during 2021-2031

Based on Application, the market is segmented into Farm Analytics, Livestock Analytics, Aquaculture Analytics, and others. The Livestock Analytics segment is predictable to grow at the highest CAGR during the forecast period. Agriculture Analytics solutions and services benefit livestock manufacturers make improved decisions by obtaining real-time information about animals and improve various livestock management processes like nursing management, heat pressure management, milk gathering, breed management, behavior monitoring, and management, calf management, genetic management, and cattle sorting. Miss organization in the nourishment or diet or tracking of the animals can cause huge losses to the farmers. Thus, farmers are capitalizing toward Agricultural Analytics solutions that help them in handling their livestock process for superiority production.

Agriculture Analytics Market: Market Dynamics

Drivers

Increasing use of data by farmers

The increasing need to contract out field-related processes due to scarcity of labor is predictable to drive the growth of the accomplished services in the Agriculture Analytics Market. Managed service providers practice their powerful analytical devices to assemble, process, and examine data to offer valuable visions to agriculturalists. By these actionable insights, farmers can estimate their crop production, expand crop cultivation, and make healthier decisions.

Solve the problems of Urban Farming

Prepared with big data analysis and artificial intelligence, urban farmers can expand effectiveness, productivity and maximize the potential of the limited space offered to them. Some scholars believe that those efforts could eventually produce as much as 190 million metric tons of food every year, showing about ten percent of the worldwide output of legumes, roots, and tubers, and vegetable crops.

Restraints

High cost of gathering precise field data

The main restraining factor for the Agriculture Analytics is the high cost of collecting precise field figures. Artificial intelligence technology involves high primary investments, well-organized farming tools, and trained and knowledgeable farmers, among others, thus making the farmers worried about using this technology for extracting precise field data. Farmers or cultivators must make huge investments in GPS, GIS, and drones to gather input figures for variable rate application technology from cables and other GPS devices.

Impact of the COVID-19 on the Agriculture Analytics Market

The COVID-19 effect on various countries has affected the accessibility of labor, harvesting of crops, and disturbed crop monitoring. Digital agrarian processes such as drones and robotic machines are expected not only to raise productivity but also will need less workforce. Countries such as China, France, and the US have taken steps to increase the implementation of digital farming technologies to cope up with the current crisis situation. Even in other nations such as India and Spain, the demand for digital agriculture is likely to grow as a long-term optimistic effect of the COVID-19 condition.

Agriculture Analytics Market:

Key Players

• IBM (US)

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Deere & Company (US)
• IBM (US)
• SAP SE (Germany)
• Trimble (US)
• Monsanto (US)
• Oracle (US)
• Accenture (Ireland)
• Iteris (US)
• Taranis (Israel)
• Agribotix (US)
• Agrivi (UK)
• DTN (US)
• aWhere (US)
• Conservis Corporation (US)
• DeLaval (Sweden)
• FBN (US)
• Other prominent players

Agriculture Analytics Market: Regions

Agriculture Analytics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. North America is estimated to contribute the largest share of the Agriculture Analytics Market during the forecast period owing to the over-all preference and enthusiasm shown by the general population in the region towards adopting Agriculture Analytics. The region has big farms with finest farming apparatus, which mainly contribute to the development of the farming analytics market. Moreover, large number of players functioning in this region also influence to drive growth of the market in North America. Asia Pacific also holds a major share of the global market. The market in the region is also projected to register the highest CAGR during the forecast period.

Agriculture Analytics Market is further segmented by region into:

• North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
• Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Agriculture Analytics Market report also contains analysis on:

Agriculture Analytics Market Segments:

• By Component
  • Services
  • Solution
• By Application
  • Farm Analytics
  • Livestock Analytics
  • Aquaculture Analytics
  • others
• By Deployment
  • Cloud
  • On-premise
• Agriculture Analytics Market Dynamics
• Agriculture Analytics Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value chain of the Market
• Market Drivers and Restraints

Agriculture Analytics Market Report Scope and Segmentation

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