According to a new market research report “Agriculture Analytics Market by Application Area (Farm Analytics, Livestock Analytics, and Aquaculture Analytics), Component (Solution and Services), Farm Size (Small, Medium-Sized, and Large), Deployment Type, and Region – Global Forecast to 2025” published by MarketsandMarkets, The global agriculture analytics market size is expected to grow from USD 0.8billion in 2020 to USD 1.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
The growing trend of digitization and risk assessment and rising demand to improve agricultural supply chain management due to the COVID-19 pandemic driving the adoption of the agriculture analytics market. Additionally, growing adoption of IoT sensors transforming livestock care and developing countries to offer significant growth opportunities during the forecast period.
Browse and in-depth TOC on “Agriculture Analytics Market”
64 – Figures
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Precision agriculture and smart farming would drive the adoption of farm analytics platforms during the forecast period
The convergence of agriculture and information technology is not new in the era of Industry 4.0. The last decade has created multiple new opportunities for agribusinesses that implement advanced agriculture technologies across major agricultural operations, right from pre-production farm planning, harvesting, climate-resilient production, post-production, to farm machinery maintenance. However, modern agribusinesses are increasing the use of advanced technologies such as big data in smart agriculture to move towards the trend of Agriculture 5.0.
Livestock analytics would grow at the highest CAGR during the forecast period
Livestock analytics uses data from various devices including RFID, GPS, feeding systems, farm management systems, robotic milking machine, and other software technology solutions to improve farm production. The major applications of livestock analytics includes feeding management, heat stress management, milk harvesting, breed management, behavior monitoring and management, and others.
Increasing use of data by farmers to know more about their farms, and crops driving the adoption of managed services segment of agriculture analytics platforms during the forecast period
The growing need to outsource field related operation owing to a shortage of labor is expected to drive the growth of the managed services in the agriculture analytics market. Managed service providers use their powerful analytical tools to collect, process, and analyze data to provide valuable insights to farmers. By these actionable insights, farmers can forecast their crop production, improve crop cultivation, and make better decisions.
Rising need to secure data by large farms to drive the demand for on-premises to hold a larger market size
Data security concerns among the end-users is contributing to the higher adoption of on-premises agriculture analytics solution globally. The on-premised agricultural analytics solution is majorly deployed by the large farms as it has better ability to invest. Moreover, large farms have wide variety of business segment with serving to broader geographical reason; hence data security is of utmost importance
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North America to dominate the market during the forecast period
North America is estimated to account for the largest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. The majority of farmers or growers in the region have deployed agriculture analytics solutions to optimize livestock, farms, orchid, forestry, horticulture and aquaculture farming. The region focuses on environmental attention and planned use of natural resources. The governments in the region are actively focusing on tackling environmental concerns such as water conservation and wastage of resources. The presence of a large number of vendors, continuous advancements in technology, and reducing prices of equipment are contributing to the growth of the smart agriculture market in North America. Also, livestock monitoring applications in North America are increasing because of factors such as continuous advancements in technologies, a drop in the prices of automated milking systems and automated feeding systems, and usage of social media and online publications for education related to agriculture. Moreover, innovations in technology and the emergence of data generation, storage
The major vendors offering agriculture analytics solutions are 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), Farmers Edge (US), GEOSYS (US), Granular (US), Gro Intelligence (US), Proagrica (UK), PrecisionHawk(US), RESSON (Canada), Stesalit Systems (India), AgVue Technologies (US), Fasal (India), AGEYE Technologies (US), HelioPas AI (Baden-Württemberg), OneSoil (Belarus), and Root AI (US).
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