Agriculture Analytics Market

Global Agriculture Analytics Market Size (2024 to 2032)

The global agriculture analytics market was expected to be valued at USD 791.65 billion in 2023 and is anticipated to reach 920.93 billion in 2024 from USD 3088.58 billion by 2032, growing at a CAGR of 16.33% from 2024 to 2032. 

An increasing need for the production volume in farming drives the farm analytics market. As climate conditions, soil properties, application of fertilizers, and seed varieties change, farm yields in various regions worldwide have been unstable. The need for innovative tools has been developed that would help stabilize conditions and increase agricultural producers' harvest quantity and quality.

Agricultural analysis for effectiveness evaluation and vital farm data for better decision-making is becoming more and more critical in driving growth for the market for agricultural analytics. Plant yields are influenced by several factors, including weather conditions, application of fertilizer, soil, and seed varieties. The identification of perfect products to increase productivity is, therefore, complicated. The use of agricultural analytics to evaluate such data is consequently rising, which boosts the growth of the market in agriculture analytics.

Intelligent agriculture is an integral part of the research that also includes the use of science and technology in agriculture. The use of technologies such as big data, IoT, and other analysis tools in the area of agriculture is termed agricultural analytics. Government initiatives for the implementation of modern farming techniques are the primary growth factor for the farm analytics sector. Furthermore, the need to improve productivity on farms and meet increasing pressure on worldwide food demand led to the adoption of agricultural analytics and the growth of the market in agriculture research.

The primary research elements outlined in the report provide valuable insights for leading players in the market in agriculture study. It also offers vital information and resources to new and existing players working in the agricultural research market. The market analysis report focuses on macroeconomic and microeconomic factors representing the growth of the demand in agricultural analytics.

Research Methodology

Market research involves studying market trends and growth patterns and understanding the influence of variables like macro and microeconomic conditions and geopolitical and demographic conditions on the market value and market dynamics. 

The research methodology used to calculate and forecast the Agriculture Analytics market began by collecting information on the market key players' sales using multiple sources via secondary research. To identify market segmentation, supplier offers have been considered.

Market Drivers

The Agriculture Analytics market size is exponentially expanding owing to the following:

• Improved government initiatives for the implementation of modern farming techniques.
• Unpredictable weather and temperature changes.
• Increased pressure to meet global food demand.

Market Restraints

• Investment involves high capital.
• Agricultural industry fragmentation.

Market Opportunities

• Increased penetration of eCommerce through the vertical sector

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Agriculture Analytics Market By Farm Size

The agricultural analytical market offers tools and services that enable livestock farmers to make better decisions by obtaining information on animals in real time and optimizing various animal handling processes. Those processes include feeding management, managing heat stress, extracting milk, breed management, tracking and controlling behavior, veal management, genetic management, and cattle sorting. Analytical animals involve improving farm production by using different devices, such as RFIDs, GPSs, feeding systems, agricultural management systems, robotic milking machines, and other software solutions.

In addition, the increasing need for livestock management, which increases farmers' pressure and can result in maladministration, encourages the growth of the market for agricultural analytics. The growth of the agrarian analysis market is also favorable to eliminating risks associated with such maladministration and increasing animal tracking needs.

Technology innovation and the increased focus on modern farming practices have contributed to advanced agriculture analytics being adopted by farmers and producers. In contrast to small and medium-sized farm producers, large-scale farm producers can invest in advanced technology to develop a well-equipped next-generation agricultural infrastructure. Farmers can make informed decisions about the crops to be cultivated for their future harvest, soil health, water availability, and plant predictions through the agricultural analytics solution implemented for the agricultural infrastructure.

REGIONAL ANALYSIS

The biggest market size is expected in North America, and the same will continue between 2020 and 2025. The area mainly has large farms with the best agricultural equipment, which contributes significantly to the growth of the demand for farm analytics. Due to increasing investments in digital agriculture practices and the implementation of cloud-based solutions by farmers across the region, APAC is expected to provide lucrative opportunities for agricultural analytics vendors. However, the lack of data standardization in different regions may affect the adoption of a solution to agricultural analysis.

KEY MARKET PLAYERS

Deere & Company (Switzerland), IBM (United States), SAP SE (Germany), Trimble (US), Monsanto, Accenture (United States), DTN (US), Farmers Edge (US), Granular (US), Groenlligence (US), Proagrica (UK), PrecisionHawk (US), PrecisionHawk (United States), REASON (Canada), Stesalit systems (US), AgVue Technologies (US), Deere & Company, a leader in its modern agriculture portfolio with an extensive range of products and services, addresses the requirements of the consumers.

KEY HIGHLIGHTS OF THE RESEARCH REPORT

• This report provides a detailed quantitative analysis of the current market and estimates for the years 2020-2025, which help identify the prevailing market opportunities.
• Important changes in market dynamics.
• Report and evaluation of recent developments in the industry.
• Competitive intelligence helps to understand the competitive scenario in geographical regions.
• The key players in the market are described in detail in this report, and their strategies are analyzed in-depth to understand the competitive advantage of the market better.

RECENT DEVELOPMENTS IN THE GLOBAL MARKET

1. In July 2020, Unimil, a provider of materials to sugar cane harvesters, was purchased by Deere.

DETAILED SEGMENTATION OF THE GLOBAL AGRICULTURE ANALYTICS MARKET INCLUDED IN THIS REPORT

This research report on the global agriculture analytics market is segmented and sub-segmented into the following categories.

By Application Area

• Farm Analytics,
• Livestock Analytics
• Aquaculture Analytics

By Component

• Solution
• Services

By Farm Size

• Small
• Medium Sized
• Large

By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa