Agriculture Analytics Market

The global Agriculture Analytics Market is valued at USD 1.3 Billion in 2022 and is projected to reach a value of USD 3.1 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 13.50% between 2023 and 2030.

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Agriculture analytics is a revolutionizing farming practices worldwide by utilizing advanced technologies such as Big Data, IoT, and various analytics tools. The government's initiatives to adopt advanced agricultural techniques have propelled the growth of the agriculture analytics market. The increasing use of IoT devices on connected farm equipment, including smart tractors and drones, and the exponential growth in data within the agriculture sector are driving this expansion. For instance, the united nation predicts that, the global population expected to reach 9.7 billion by 2050. farmers are seeking solutions from established industry leaders and start-ups to enhance productivity and connectivity in farming practices.

• Crop growers and agribusiness players are embracing these innovations, recognizing their potential in plant genomics, livestock management, soil health, and big data and analytics. Climate change, population growth, and food security concerns pose challenges to the agricultural sector, necessitating innovative approaches to increase crop yield and protection.
• North America generated more than 40.30% of revenue share in 2022
• Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
• Services segment accounted for the largest market growth. It contributed over 53.2% of the total revenue share in 2022
• Precision Farming segment revealed the most significant market growth, contributing more than 35.5% of the total revenue share in 2022
• Large Farms will dominate the market in 2022 with market share of 59.5%
• Visualization and Reporting will account for largest share of 42.5% in 2022
• Agronomists will dominate the market with market share of 35.5% in 2022

Economic Insights

Over the past five years, the Agriculture Analytics market has shown remarkable growth, with an impressive CAGR. The use of advanced analytics tools in agriculture has led to transformative changes, providing farmers with valuable insights into crop management, resource optimization, and risk reduction. This has resulted in increased productivity, cost savings, and improved efficiency in the agricultural value chain. The economic viability of agriculture analytics is evident in its potential to address global food security issues, minimize environmental impact through precision farming methods, and optimize resource allocation. Additionally, the integration of data-driven decision-making in agriculture has attracted a wide range of stakeholders, from technology giants to startups, leading to innovation and investment.

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Top Market Trends

• Precision Farming Adoption: A significant advancement is precision agriculture, which is made possible through analytics. Farmers are increasingly utilizing data analytics to streamline resource management, monitor crop health, and optimize planting dates, resulting in higher yields and lower costs.
• IoT Integration: Analytics in agriculture rely heavily on the Internet of Things (IoT). Real-time monitoring of the environment, crop health, and equipment performance is made possible by integrating sensors and gadgets in the field, giving farmers crucial information for making decisions.
• Predictive Analytics for Crop Yield: Crop yields are predicted using predictive analytics models based on historical data, weather patterns, and numerous agronomic parameters.
• Farm Management Software: Growing analytics-powered farm management software is assisting farmers in making decisions. These platforms provide thorough insights into field-level data, enabling farmers to select crops, allocate resources, and manage risks while doing so.
• Remote Sensing Technologies: In order to offer real-time and high-resolution data on crop health, soil conditions, and pest infestations, remote sensing technology, such as satellite imaging and drones, are connected with analytics. This helps with precision agriculture.

Market Segmentation

Agriculture Analytics The global Agriculture Analytics market can be categorized into Component , Agriculture type, Farm size, Technology, End users, Region. The Agriculture Analytics market can be categorized into Solutions, Services based on Component . The Agriculture Analytics market can be categorized into Precision Farming, Livestock Farming, Aquaculture Farming, Vertical Farming, Others (Organic and Conventional farming) based on Agriculture type. The Agriculture Analytics market can be categorized into Large Farms, Small and Medium-Sized Farms based on Farm size. The Agriculture Analytics market can be categorized into Remote Sensing and Satellite Imagery, Geographic Information System, Robotics and Automation, Big Data and Cloud Computing, Visualization and Reporting, Blockchain Technology, Others (Mobile Applications, Internet of Things (IoT) and Machine Learning and AI) based on Technology. The Agriculture Analytics market can be categorized into Farmers, Agronomists, Agribusinesses, Agricultural Researchers, Government Agencies, Others (Insurance Assessors, Drone Services, Consumers and Consumers' Organizations) based on End users. The Agriculture Analytics market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Component

Services holds the largest share

The services segment is expected to dominate the Agriculture Analytics market driven by the increasing demand for expert assistance. Farmers and industry stakeholders are seeking professional guidance to effectively implement and utilize agriculture analytics solutions in order to maximize their returns. As these solutions become more complex, the need for services such as consulting, implementation, and support becomes even more crucial. Farmers and stakeholders require expert help in understanding and leveraging advanced agriculture analytics tools.

Based on Agriculture type

Precision Farming will dominate the market during Forecast Period

The precision farming is expected to dominate the Agriculture Analytics market due to its data-driven approach and the integration of sensors and advanced technologies, which enable comprehensive data collection on crops and soil conditions. The abundance of data allows for informed decision-making in crucial areas such as irrigation, fertilization, and other farming practices. By enhancing the effectiveness of precision farming data, agriculture analytics solutions are vital in identifying specific areas of a field that require precise adjustments in water or fertilizer usage.

Based on Farm size

Large Farms will lead the market

Large Farms are expected to maintain their dominance in the Agriculture Analytics market due to various distinct advantages they offer. Large farms benefit from their abundance of resources, which allows for significant investments in new technologies. Additionally, these farms have an advantage in possessing the necessary data and infrastructure to smoothly implement and effectively use agriculture analytics solutions. The size of these farms enables them to maximize the advantages of scale in agriculture analytics, leading to optimized operations and resource utilization.

Based on Technology

Visualization and Reporting will account for largest share

Visualization and Reporting will dominate the Agriculture Analytics market because these tools are essential in helping farmers and stakeholders understand and use insights from agriculture analytics solutions. They are crucial in allowing users to identify complex trends and patterns in their data that may not be detectable with the naked eye. Furthermore, visualization and reporting are not only important for internal understanding, but also for effectively communicating findings to others.

Based on End user

Agronomists will account for largest share

In the Agriculture Analytics market, agronomists are expected to dominate and hold the largest share. With their extensive knowledge of soil, plants, and crops, agronomists play a crucial role in helping farmers improve their yields and profitability. They utilize agriculture analytics solutions to make informed decisions, which further emphasizes their significance. These solutions are essential for optimizing farming practices such as irrigation, fertilization, and pest and disease management.

Based on Region

North America will lead the market

North America lead the Agriculture Analytics market because the region has a high concentration of agriculture analytics vendors, creating a strong environment for technological advancements. Government support also plays a role in driving this momentum, with policies that promote the integration of analytics solutions in agriculture. The United States is in a prime position to drive this growth, supported by its large agriculture industry and proactive adoption of technology by farmers. Canada and Mexico are also significant markets, driven by their growing agriculture sectors and the increasing demand for analytics solutions to improve efficiency and profitability.

Competitive Landscape

The agriculture analytics market is highly competitive, with a wide range of players competing for market share. This includes established technology companies, specialized agriculture analytics vendors, and emerging startups. Established companies use their experience and technology capabilities to offer comprehensive solutions, while startups bring innovation and agility. As the demand for data-driven insights in agriculture increases, the competitive landscape is expected to expand further, driven by advancements in data analytics, artificial intelligence, and precision farming technologies.

The players in the global Agriculture Analytics market include SAP SE, Deere & Company, Trimble, IBM Corporation, Accenture LLC, Monsanto Company, Iteris, Taranis, Oracle Corporation, Agvue Technologies, Conservis Corporation, Dtn, Fbn, Farmers Edge, Geosys Inc., Granular, Gro Intelligence, among others. among others.

Recent Market Developments

• January 2023: By collaborating on digital connectivity, John Deere and Nutrien Ag Solutions enhance their capacity to cater to farmers. This connectivity allows for efficient logistics and facilitates the smooth transmission of tailored agronomic recommendations to their equipment, ensuring effective execution.
• January 2023: In a collaboration, DeHaat, an innovative platform providing comprehensive agricultural services to farmers in India, joined forces with SAP. By utilizing SAP's cutting-edge cloud-based ERP solution, S/4HANA Cloud, DeHaat aims to further enhance its technological capabilities.

Segmentation of the Global Agriculture Analytics Market