USD 0.973 billion
Agriculture Analytics Market Size, Share, Growth Analysis, By Components(Solutions and services), By Deployment mode(Cloud and on premises), By Application(Farm analytics, Livestock analytics, Aquaculture analytics), By Farm size(Large and small/Medium), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2070 |
Region:
Global |
Published Date: February, 2024
Pages:
233
|Tables:
111
|Figures:
77
Agriculture Analytics Market Insights
Agriculture Analytics Market size was valued at USD 0.973 billion in 2019 and is poised to grow from USD 1.1 billion in 2023 to USD 2.9 billion by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).
Big data, artificial intelligence, cloud computing, and the internet of things are just a few of the cutting-edge technologies being used to manage and automate farming processes including managing crops, fields, livestock, and more. The adoption of cutting-edge solutions in the farming industries is being driven by the rising global need for food. Future food demand will more than double as a result of the population’s rapid expansion. Therefore, the agriculture business is anticipated to meet the problems of the future with the implementation of agro analytics technology.
Arable land is becoming less and less accessible. The agricultural land is being severely impacted by factors such as population growth, urbanisation, water scarcity, and climate change. Companies and the government are encouraging the implementation of urban farming and vertical farming to handle the rising food demand. The demand for agriculture analytics solutions is being driven by the use of buildings and waste land to organise vertical columns for crop yields. The system also provides alerts and insights on a variety of topics, including soil condition, field planning, breeding management, and irrigation management. This lessens damage and aids in growing crops of good quality.
US Agriculture Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Solution
Fastest Growth
Solution
Growth Rate
12.7% CAGR
Global Agriculture Analytics Market ($ Bn)
Country Share for North America Region (%)
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Agriculture Analytics Market Segmental Analysis
Global Agriculture Analytics Market is segmented based on the component, deployment mode, application, Farm size and region. Based on the component, the Market is segmented into Solution and services. Based on the deployment mode, the market has been segmented into cloud and on premises. Based on the application, the market has been segmented into Farm analytics, Livestock analytics, Aquaculture analytics. Based on farm size the market is segmented as large farm and small/medium farm. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Agriculture Analytics Market Analysis by Farm Size
In terms of farm size, big farms dominated the Global Agriculture Analytics Market market in 2021. The forecast period is expected to see a sharp increase in the revenue growth rate for the large farms sector. Large farms are in better economic shape than small and medium farms, which encourages farmers to employ agriculture analytics solutions to boost production and improve overall farm efficiency. Demand for agriculture analytic solutions among large farms is anticipated to increase because of the need to meet the rising global food demand and combat extreme weather. Big data loT sensors are being used by large farms more frequently to monitor their operations and produce data such as warnings for when to refuel, when services are necessary, and the availability of specific tractors.
Agriculture Analytics Market Analysis by Application
Farm analytics dominated the market in 2021, due to the growing requirement of agricultural output in order to meet rising food demand while preserving a sustainable agricultural system. Adoption of farm analytics is being driven by a growing desire to enhance agricultural supply chain management to reduce waste and excess inventories. Farmers and other participants in the agriculture supply chain are made more aware of hazards as a result of the insights offered by data centres and analytics technology, which results in better risk management evaluations. By monitoring symptoms of plant illnesses, farm analytics are being used more frequently to prevent crop diseases and insect infestations, which is accelerating the expansion of this market. Additionally, the demand for agricultural analytics is anticipated to increase due to the growing need for precise weather predictions to assist farmers in preparing for atypical weather.
Global Agriculture Analytics Market By Component
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Agriculture Analytics Market Regional Insights
North America dominates the market and holds the largest market share of the global agriculture analytics market. The growth of the market is being fueled by the region's considerable concentration of artificial intelligence, cloud computing, data analytics, big data, and other technology suppliers. Due to the early adoption of technologies across all industries, the US is most likely to dominate the market. Europe will also experience significant growth during the prediction period. The use of agriculture analytics in the farming sector is being driven by the rising demand for fresh, high quality food.
Asia Pacific is the fastest growing region during the forecast period. The demand for agriculture analytics is going to be fueled by the expanding government drive to digitize and advance farming practices. Additionally, the quickly expanding populations in nations like China, Japan, and India are encouraging the adoption of cutting-edge technologies to increase yielding. Due to the limited availability of water resources in the majority of places, the Middle East and Africa will experience considerable rise in the adoption of agriculture analytics. With minimal water waste, agricultural irrigation may be managed with the use of agriculture analytics. South America will similarly demonstrate the market’s consistent expansion.
Global Agriculture Analytics Market By Region
- Largest
- Fastest
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Agriculture Analytics Market Dynamics
Agriculture Analytics Market Drivers
Rise of the Potential of Urban Agriculture will Boost Market Demand
Urban agriculture, both in terms of people growing food in community plots or in rooftop gardens, has become a popular trend around the world in recent decades. While the ability to provide locally-grown crops to urban populations shouldn’t be discounted, there are many benefits to urban farming that go beyond simply providing food to local communities. There is a positive environmental impact in terms of reducing runoff from heavy rainfall and improving air quality. The work that must go into planting and maintaining these plots also helps to strengthen the community’s social bonds.
Agriculture Analytics Market Restraints
Costly to Collect Accurate Field Data will Hinder Market Growth
- The high cost of acquiring accurate field data is the main barrier to the adoption of AI in the agriculture sector. Farmers are hesitant to use AI technology for acquiring exact field data since it demands large initial investments, effective farming gear, qualified and knowledgeable farmers or growers, among other things. To gather satellite and other GPS data for variable rate application technologies, farmers or growers must invest heavily in GPS, drones, and GIS. Costly data collecting for geographical data (for effective input selection) and training for data management are just two of the expenses associated with AI-based farming. Drones and driverless tractors that use GPS technology for navigation and mapping purposes are pricey and require significant upfront costs.
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Agriculture Analytics Market Competitive Landscape
Agriculture AnalyticsMarket is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Agriculture Analytics Market Top Player's Company Profiles
- IBM Corporation
- SAP SE
- Oracle Corporation
- Trimble Navigation Limited
- Monsanto Company
- Deere & Company
- Agribotix LLC
- Agjunction Inc.
- SST Development Group Inc.
- Iteris Inc.
- Taranis
- Farmer's Business Network Inc.
- Agrivi
- Granular Inc.
- aWhere Inc.
- DTN
- Climate Corporation
- PrecisionHawk Inc.
- Agworld Pty Ltd
- Raven Industries Inc.
Agriculture Analytics Market Recent Developments
- In Oct 2022, EOSDA and TelOne Pvt (Limited) announced a strategic partnership. The partnership will see TelOne establish itself in the smart agriculture sector and assist Zimbabwe’s government, farmers, financial institutions, and other players in the agriculture value chain in creating value for communities and the country’s economy.
- In Oct 2022, Levine Leichtman Capital acquired AGDATA, to workflow and data solutions within the agribusiness and animal health sectors.
- In September 2022, CGIAR and the Linux Foundation have formed a research partnership to develop a standard way of sharing data about agricultural fields at scale.
Agriculture Analytics Key Market Trends
- The many IoT devices are used to stop various issues related to farms and animals. Some of them keep track of fertility, which may be helpful in areas where farmers significantly rely on breeding success, for that benefit various farmers are used to the analytics part in farming. The use of AI in collection of data is an emerging trend that will influence and shape the market during the forecast period.
Agriculture Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Agriculture Analytics Market analysis, among regions North America is dominating the market and found to capture higher market share, the growth of the region is attributed to growing concentration on artificial intelligence. The US has emerged as a significant contributor to market growth in North america. In terms of farm, the large farm type segment dominates the marine hybrid propulsion market. This segment's leading position because of it, meet the rising global food demand and combat extreme weather demand. In terms of application, the farm analytics application led the market. The growth is attributed to the requirement of agricultural output in order to meet rising food demand while preserving a sustainable agricultural system.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 0.973 billion |
| Market size value in 2031 | USD 2.9 billion |
| Growth Rate | 12.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Agriculture Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Agriculture Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Agriculture Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agriculture Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agriculture Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agriculture Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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