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Agriculture Analytics Market, Size, Share Trends, Outlook 2032

Published Date : Jun 2024 | Forecast Year : 2019

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Agriculture Analytics Market Size, Share & Trends Covers Analysis By Product Type (Cloud, On-Premises), By Application (Farm Analytics, Livestock Analytics, Aquaculture Analytics) Growth, Demand, Regional Outlook, And Forecast 2024-2032

Report ID: AG884

Published : Jun 2024

Pages : 155

Category : Agriculture

Format : Agriculture Analytics Market, Size, Share Trends, Outlook 2032

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 3.48 Billion
MARKET SIZE (2023)USD 1.23 Billion
CAGR (2023-2029)15.17%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPECloud
On-Premises
BY APPLICATIONFarm Analytics
Livestock Analytics
Aquaculture Analytics
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSIBM Corporation, Deere & Company (John Deere), Trimble Inc., SAP SE, Monsanto Company (acquired by Bayer AG), Taranis, Farmers Edge, Agribotix LLC, Ag Leader Technology, The Climate Corporation (a subsidiary of Bayer AG).

Introduction:

Agriculture, the backbone of human livelihood, is witnessing a paradigm shift with advanced technical solutions. Among these innovations, agricultural analytics stands out as a game changer, revolutionizing how farmers manage their crops and livestock. The Agriculture Analytics market is growing due to the increasing adoption of data-driven decision making in agricultural practices. Agricultural analytics involves the use of data analysis tools and techniques to interpret various data related to agricultural operations. This includes information on soil health, weather conditions, crop performance and market trends. Using this data, farmers can gain actionable insights to help them optimize their practices, reduce waste and increase yields. The integration of Internet of Things (IoT), devices, remote sensing technologies and advanced software platforms is at the heart of agricultural analytics.

Agriculture Analytics Market, Size, Share Trends, Outlook 2032

Size, by Product, - (USD Billion)

Cloud

On-Premises

Others

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

15.17%

The Forecast Market

Size for in USD:

$3.48 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Global Agriculture Analytics Market Size Was Estimated At USD 1.23 Billion In 2023 And Is Projected To Reach USD 3.48 Billion By 2032, At CAGR Of 28.57% (2024-2032)

IoT devices such as soil sensors and weather stations continuously collect information about the farm environment. This data is then processed and analyzed using advanced algorithms to provide real-time feedback and predictive insights. For example, farmers can receive alerts about potential pest outbreaks or irrigation needs, allowing them to take proactive measures. One of the most important benefits of agricultural analysis is precision agriculture. Using data analysis, farmers can adapt their practices to the specific needs of each crop and field section. This means using the right amount of water, fertilizers and pesticides exactly where they are needed, maximizing efficiency and minimizing environmental impact. Precision agriculture not only increases yield, but also promotes sustainable agriculture by conserving natural resources.

Market Overview:

Agricultural analytics is the use of big data, machine learning and artificial intelligence technology to improve the efficiency and effectiveness of agricultural production. By collecting, organizing and analyzing complex crops, agricultural analytics can help farmers and other stakeholders make informed decisions about everything from crop optimization to water use and supply chain management. The global agricultural analytics market is expected to grow rapidly in the coming years due to increasing yields, reduced production costs, and improved supply chain traceability. This market will benefit from accelerated growth in developing regions such as APAC, Middle East and Africa. Investments lead to agricultural analytics solutions that improve agricultural productivity and data-driven decision making. The main drivers of the market growth are the growth of the world population and the increasing demand for food, the increasing demand for sustainable agriculture and the growing trend of precision agriculture and the use of big data. In addition, the spread of Internet of Things and cloud-based technologies, increasing government initiatives to promote the use of advanced technologies in agriculture, and growing demand for agricultural information systems are also contributing to market growth.

Market Trends:

  • Integration of IoT and Smart Devices
  • Adoption of Precision Farming
  • Artificial Intelligence and Machine Learning
  • Blockchain for Supply Chain Transparency
  • Increased Focus on Sustainability
  • Rising Demand for Organic and Non-GMO Products
  • Government Initiatives and Subsidies
  • Expansion of Cloud-Based Solutions
  • Collaboration and Partnerships
  • Data Security and Privacy Concerns

Market Drivers:

  • Rising Global Population and Food Demand
  • Need for Sustainable Agriculture
  • Technological Advancements
  • Government Support and Initiatives
  • Pressure to Increase Crop Yields
  • Climate Change and Weather Variability
  • Rising Demand for High-Quality Produce
  • Reduction in Operational Costs
  • Enhanced Supply Chain Management
  • Increased Investment in AgriTech Startups

Market Restraining Factors:

High start-up costs: The significant initial investment required to implement agricultural analytics solutions can be a hindrance, especially for small farmers.

Lack of technical knowledge: The complexity of data analysis tools and techniques requires a certain level of technical knowledge that farmers and agricultural workers may lack.

Privacy and Security Issues: Concerns about the privacy and security of agricultural data can hinder adoption of analytics solutions, as farmers may be wary of data breaches and misuse.

Limited infrastructure in rural areas: Inadequate infrastructure, such as poor Internet access in rural areas, can limit the implementation and effectiveness of agricultural analysis.

Resistance to change: Traditional farmers may resist the introduction of new technologies and knowledge-based practices, preferring traditional methods.

Variable data quality: The accuracy and reliability of data collected from different sources can vary, affecting the overall quality of insight provided by analytics solutions.

Agriculture Analytics Market, Size, Share Trends, Outlook 2032

Share, by end user, (USD Billion)

Analytica Global 1.23 Billion %

Farm Analytics

Livestock Analytics

Aquaculture Analytics

Others

Other End-Users

b0d51e3055fd6f23ff6a384a6e091406.svg

3.48 Billion

Total Market Size

USD (Billion),

15.17%

CAGR

-

Market Opportunities:

  • Expansion of Precision Agriculture
  • Development of Affordable Solutions
  • Integration with Smart Farming Technologies
  • Increasing Demand for Organic and Sustainable Farming
  • Expansion into Emerging Markets
  • Customization and Localization of Solutions
  • Partnerships and Collaborations
  • Use of Advanced AI and Machine Learning
  • Focus on Supply Chain Optimization
  • Enhanced Data Analytics Platforms

Key Players:

  • IBM Corporation
  • Deere & Company (John Deere)
  • Trimble Inc.
  • SAP SE
  • Monsanto Company (acquired by Bayer AG)
  • Taranis
  • Farmers Edge
  • Agribotix LLC
  • Ag Leader Technology
  • The Climate Corporation (a subsidiary of Bayer AG)

Recent Development:

  • June 26, 2024 /PRNewswire/ -- As sports fans worldwide tune in to a myriad of athletic events this summer, new research commissioned by IBM (NYSE: IBM) reveals a growing generational shift and acceptance of technology-driven experiences that will impact the future of sports consumption.
  • June 19, 2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) has introduced the Trimble R980 GNSS system, the newest addition to its Global Navigation Satellite System (GNSS) receiver portfolio. Building upon premium features available on Trimble's latest receiver models, including the Trimble ProPoint® positioning engine, the new R980 adds several new elements including upgraded communication capabilities to support uninterrupted field operations.

Agriculture Analytics Market, Size, Share Trends, Outlook 2032

Size, by Product, - (USD Billion)

NORTH AMERICA $ 24

The Market will Grow

At the CAGR of:

15.17%

The Forecast Market

Size for in USD:

$3.48 Billion B

b0d51e3055fd6f23ff6a384a6e091406.svg

Market Insights:

Growth Forecasts: The agricultural analytics market is expected to grow significantly over the next decade due to technological advancements and increasing demand for sustainable agricultural practices.

Key Players: Key companies in the market include IBM, John Deere, Trimble Inc., Climate Corporation and Ageable Aerial Systems. These companies are pioneers in providing comprehensive analytical solutions to the agricultural sector.

Regional Analysis: North America and Europe currently dominate the market due to adoption of advanced technology and supportive government policies. However, the Asia-Pacific region is expected to grow rapidly with increasing agricultural activities and adoption of technology.

Segment analysis: The market is segmented based on component (software and services), application (farm analysis, livestock analysis, aquaculture analysis, and others), and farm size (small, medium, and large) . Agricultural analytics has the largest market share due to high demand for crop monitoring and analytics.

Technology Integration: The integration of IoT, artificial intelligence and machine learning technologies will increase agriculture's analytical capabilities and provide farmers with more accurate and actionable insights. 

Market Segmentation:

By Type

  • Cloud
  • On-Premises

By Application

  • Farm Analytics
  • Livestock Analytics
  • Aquaculture Analytics

By Geographical

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

    Agriculture Analytics Market, Size, Share Trends, Outlook 2032 TO (USD BN)

    Agriculture Analytics Market

    CAGR OF

    15.17%

    Agriculture Analytics Market, Size, Share Trends, Outlook 2032

    b0d51e3055fd6f23ff6a384a6e091406.svg
    Analytica Global 3.48 Billion %

Stakeholders For Market: 

  • Farmers and Growers
  • Agribusinesses and Cooperatives
  • Technology Providers
  • Government and Regulatory Bodies
  • Research Institutions and Academia
  • Investors and Venture Capitalists
  • Consumers and End Users
  • Environmental Organizations
  • Supply Chain Partners
  • Non-Governmental Organizations (NGOs)

FAQ (Frequently Asked Questions):

Q.1 How big is the Agriculture Analytics Market?

Ans: - Agriculture Analytics Market Size Was Estimated At USD 1.23 Billion In 2023 And Is Projected To Reach USD 3.48 Billion By 2032, At CAGR Of 28.57%.

Q.2 Who are the major players in the Agriculture Analytics Market?

Ans: - IBM Corporation, Deere & Company (John Deere), Trimble Inc., SAP SE, Monsanto Company (acquired by Bayer AG), Taranis, Farmers Edge, Agribotix LLC, Ag Leader Technology, The Climate Corporation (a subsidiary of Bayer AG).

Q.3 Which segments are covered in the report of Agriculture Analytics Market?

Ans: - The Agriculture Analytics Market is Segmented On The Basis Of Type, Application, And Geography.

Q.4 Which regions are covered in the report that having a potential scope for the Agriculture Analytics Market?

Ans: - On the basis of Geography, The Agriculture Analytics Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.

 

Agriculture Analytics Market, Size, Share Trends, Outlook 2032 - Global Outlook & Forecast 2024-2029

Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global
Analytica Global

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