The agriculture analytics refers to the collection, storage, analysis, and reporting of data that helps farmers to make data-driven decisions to support the enhancement of their farming business process. The market for agriculture analytics is growing considerably with constant innovations with new technologies and growing acceptance of modernized tools and platforms across the sector. Moreover, the growing adoption of analytics solutions enables farmers to report insights derived from the hardware devices’ data. Thus, the farmers are expected to increase more use of agriculture analytics in the coming years. Further, rising advancements in the data science and availability of various open-source platforms for conducting advanced analytics on real-time data have also significantly driven the agriculture analytics market.
Besides, the impact of COVID-19 on the disruption of the agriculture industry has forced farmers to adopt data-driven techniques for farm management and other operational purposes. This is likely to increase the high adoption rate of agriculture analytics solutions during the forecast period. Thus, the agriculture analytics market is huge and creates several opportunities for stakeholders.
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Scope of the report
Agriculture Analytics Market, By Component
- Managed Services
- Professional Services
- Integration and implementation
- Support and Maintenance
- Training and Education
Agriculture Analytics Market, By Application
- Field Mapping
- Crop Scouting
- Weather Data Analytics
- Soil Moisture Analysis
- Farm Production
- Irrigation and Water Management
- Fertilizer Management
- Crop Growth and Health
- Farm Labor Management
- Post-harvest activities
- Market Access
- Feeding Management
- Heat Stress & Fertility Management
- Milk Harvesting
- Behavior Monitoring and Management
- Fish Tracking and Fleet Navigation
- Feed Management
- Water Quality Management
- Other Applications
Agriculture Analytics Market, By Deployment Type
Agriculture Analytics Market, By Farm Size
- Small & Medium-sized farms
- Large-sized farms
Agriculture Analytics Market, By Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
- South Africa
- Rest of MEA
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Furthermore, the market for technology in the agriculture sector is projected to witness slow recovery post-COVID-19 pandemic. The rising adoption of advanced analytics and data-driven decision-making techniques across the agriculture industry and growing generation of big data associated with every operation carried out digitally is expected to open ways for greater adoption of agriculture analytics solutions. In its latest publication on the agriculture analytics market, Meticulous Research states that this market will grow at a CAGR of 17.5% from 2019 to 2027 to reach $2.27 billion by 2027. This market’s growth is backed by an increase in demand for specialized digital agriculture services, rising pressure to meet global demand for food, and an increase in the need for improving farm productivity & farming operations. Besides, the growing adoption of numerous smart technologies, such as IoT, AI, and Big Data, among others, to enable precision agriculture and improve the yield is expected to propel the agriculture analytics market growth in the forecast period.
Meticulous Research has segmented this market into component (solutions and services), application (farm analytics, livestock analytics, aquaculture analytics, and others), deployment (cloud and on-premise), farm size (small and medium-sized farms and large farms), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
In 2020, geographically, North America is expected to command the largest share of the agriculture analytics market. The large share of North America is primarily attributed to the presence of major agriculture analytics solution providers and their emphasis on agriculture analytics technology. Further, the high acceptance of smart solutions by farmers due to increased spending capacity has been driving the agriculture analytics market growth in North America.
In 2020, based on application, the farm analytics segment is expected to command the largest share of the agriculture analytics market. The large share of this segment is primarily attributed to the growing importance of efficient farm planning activities based on data generated by smart devices installed on farms. The increasing need to competently offer crop production in the market is driving farmers to adopt farm analytics solutions. Furthermore, the livestock analytics segment is expected to propel with a high CAGR in the forecast period.
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The report provides competitive intelligence for some of the key players operating in this market, including Accenture plc. (Ireland), Agribotix LLC (U.S.), Agrivi (U.K.), aWhere, Inc. (U.S.), Conservis Corporation (U.S.), Deere & Company (U.S.), DeLaval Inc. (Switzerland), DTN (U.S.), Farmer’s Business Network, Inc. (U.S.), Farmers Edge Inc. (Canada), Geosys, Inc. (U.S.), Granular, Inc. (U.S.), Gro Intelligence, Inc. (U.S.), IBM Corporation (U.S.), Iteris Inc. (U.S.), Monsanto Company (U.S.), Oracle Corporation (U.S.), PrecisionHawk Inc. (U.S.), SAP (Germany), and Trimble Inc. (U.S.) among others.
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