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Agriculture Analytics Market: Segmented By Component (Services and Solution): By Application (Farm Analytics, Livestock Analytics, Aquaculture Analytics and others): By Deployment (Cloud and On-premise): Global Analysis by Market size, share & trends for 2020-2021 and forecasts to 2031
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.
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.
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.
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.
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.
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.
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.
IBM (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
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.
| Report Attribute | Details |
| Market size value in 2021 | USD 0.92 billion |
| Revenue forecast in 2031 | USD 3.86 billion |
| Growth Rate | CAGR of 15.41% from 2021 to 2031 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Application, Deployment Mode, Component, and region |
| Region scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | 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) |
Agriculture Analytics Market size was estimated at USD 0.92 billion in 2021 and is expected to reach USD 3.86 billion by 2031
Key Players IBM (US), 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)
Solution segment are anticipated to hold the largest Agriculture Analytics Market share
Increasing use of data by farmers and Solve the problems of Urban Farming.
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.
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