Market Overview:
The Agriculture Analytics market estimated at USD 1.14 Billion in the year 2022, is projected to reach a revised size of USD 2.81 Billion by 2030, growing at a CAGR of 11.9% over the analysis period 2023-2030.
Agricultural analytics is defined as the use of technologies such as IoT, big data, and other analytical tools in the agricultural sector. Smart farming is part of agricultural analytics and a breakthrough application of science and technology across agriculture. It is used widely to understand different aspects of agriculture such as irrigation and cultivation. Various technologies such as IoT, remote sensing application control, GPS, etc., are used in agricultural analytics. Agricultural analytics is designed to improve several farming techniques, using complementary technologies such as drones, satellites, and others to make better decisions.
Top Key Players in Agriculture Analytics Market:
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), and Other Major Players.
Market Dynamics and Factors for the Agriculture Analytics Market:
Drivers:
Growing Urban Farming Potential
This rising demand for healthy, nutritious, and high-quality food products is encouraging farmers and producers to increase crop production at prescribed times. Further, to meet these growing demands, technology providers all across the world are developing innovative solutions for the agricultural industry intending to enhance crop production and profitability. The use of IoT devices to monitor favorable weather conditions for agriculture, soils, & crops, and to manage livestock, dairy, and other modern practices will generate vast amounts of data, allowing farmers to change their offerings.
Opportunities:
Upcoming Opportunity for the Deployment of Big Data in Agriculture Industry
Big data offers potential growth opportunities by truly revolutionizing the agricultural sector. The growth can be attributed only to having a cloud-based ecosystem along with appropriate software & tools to integrate data sources. Additionally, to cater to the pressures of growing food demand and climate change, major players are seeking assistance from technology experts such as IoT, analytics, big data, and cloud computing. Moreover, the capability of Big Data to track physical items, gather real-time data, as well as predict future scenarios can offer profitable opportunities in farming practices. Big data provides farmers with detailed data on rainfall patterns, fertilizer requirements, water cycles, etc., enabling them to make better smart decisions.
Segmentation Analysis of the Agriculture Analytics Market:
By Component, the solution segment is estimated to dominate the growth of the agriculture analytics market. The rising need for several agribusinesses to effectively analyze and collect critical farm-related data for maximizing crop production, and better decision-making is the major factor propelling the growth of this segment.
By Deployment, cloud-based is the major dominating segment of the agriculture analytics market. The rapid growth of this segment is primarily due to easy access, reliable security, low maintenance, and affordability. The major advantages of the cloud provider concerning SaaS, IaaS, and PaaS for agricultural analytics contribute to the huge growth of this segment.
Regional Analysis of the Agriculture Analytics Market:
North America is the major region that dominates the growth of the agriculture analytics market. Technological advances in traditional farming activities and improvements in farming techniques in the countries of the region are estimated to boost the growth of the regional agricultural analytics market. The huge rise in the adoption of big data IoT sensors on large farms in countries in the region, resulting in improved crop yields and efficiencies, is a major factor contributing to the rapidly growing demand for agricultural analytics.
Key Industry Development:
In January 2022, EarthDaily Analytics Corp., a vertically-integrated data processing and analytics company pairing cutting-edge Big Data tools with proven Space technologies, announced the rebranding of its Geosys division to EarthDaily Agro. The Company further announced the launch of a new, next-generation software platform offering best-in-class agricultural analytics service with unmatched reach, quality, speed, and integration capabilities.
In March 2020, Arable launched a new generation of IoT tools for data-driven farming. The company has introduced a new Mark 2 sensor, a new mobile app, a sensor-integrating bridge device, and Arable Open, a customizable applications programming interface that partners can use. This effective solution comes as rising pressures around climate resiliency, mitigation, and adaptation are revealing the urgent need for thoughtful and efficient land use.
For this report, Introspective Market Research has segmented the Dog Food Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
