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

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.