What is the global market size of Agriculture Analytics Market?

Global Agriculture Analytics Market size was valued at USD 0.973 billion in 2021 and is poised to grow from USD 1.1 billion in 2022 to USD 2.9 billion by 2030, growing at a CAGR of 12.7% in the forecast period (2023-2030).

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 News

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 Market Report Snapshots

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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).

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. '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.'

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.

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.

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.

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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 News

Agriculture Analytics Market Report Snapshots

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