Agriculture Analytics Market By Component Segment (Software, Services), By Deployment Model (Cloud, On-premise), By Application (Farm Analytics, Livestock Analytics, Other), By Farm Size (Small And Medium-Sized Farms, Large Farms) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Growing Demand for Modern Agricultural Techniques and Technological Advancements Are Likely to Fuel the Growth of the Agriculture Analytics Market.

Globally, the agriculture analytics market is expected to grow with a CAGR of more than 15.3% during the forecast period from 2019 to 2027, starting from US$ 560.0 million in 2018. Globally, the agricultural sector is rapidly progressing in terms of technology, machinery, and quantity of yield. A growing number of farmers and farming companies in various developed and developing countries are increasingly adopting advanced technologies such as big data analytics, artificial intelligence, and machine learning with the aim of maintaining and improving yields in these changing climatic conditions. Analytics solutions help farmers in the planning and execution of various activities that help them fulfill the growing need to enhance farm production. This major factor is driving the adoption of agriculture analytics across the globe. Moreover, there has been a significant decline in the rate of skilled labor in the agricultural sector, which is equally affecting production and the quality of the yield.

The utilization of analytics enables farmers to study, evaluate the conditions, and derive solutions to enhance the quantity of their yield. In addition to this, increasing government support to provide the latest technologies in remote corners for agricultural purposes is also contributing to the increased adoption of analytics in this sector. These factors are expected to drive the growth of the agriculture analytics market during the forecast period. However, the high cost of analytics solutions and low spending power of farmers in developing and underdeveloped countries, a lack of technical skills to use modern tools, and a lack of data management and calibration in the agriculture industry are likely to have a negative impact on the growing agriculture analytics market during the forecast period.

Livestock Management Application is expected to continue dominating the market.

In 2018, the livestock management segment led the market by contributing the maximum market share in the global agriculture analytics market. Livestock is a primary factor in the agricultural sector and is used to perform a large number of tasks daily. The activities involving livestock in agriculture generate large volumes of data about animals. Implementation of analytics tools for livestock management enables the farmers to keep track of activities revolving around the animals, such as feeding, milk harvesting, breeding, and behavior monitoring. In order to eliminate the possibilities of mismanagement and keep track of the diet and grooming of these animals, it is essential for the farmers to conduct critical analysis. This helps them maintain their daily routine and reduces the increasing pressure of livestock management. Followed by livestock management, the farm analytics segment is also growing at a significant pace.

Asia Pacific to Register the Fastest Growth

North America dominates the agriculture analytics market. In 2018, the regional market accounted for nearly 41% of the total revenue generated worldwide. The primary factor attributed to this high market share is the growing adoption of modern farming techniques in the US and Canada. Companies based in the North American region are largely investing in research and development to provide best-in-class farming equipment to farmers and farming companies at an affordable price. This enables the companies to enhance their annual revenue and contribute to the increasing market size of agricultural analytics. However, Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Based on the fact that a huge chunk of the agricultural industry is in this region, there has been significant investment in the adoption of digital tools in the agriculture sector of developing countries. This is expected to primarily contribute to the high growth of this regional segment. Along with this, various international companies are expanding their presence in this region to leverage the lucrative opportunities in this region. However, a lack of standardization with respect to data management and a dearth of skilled personnel can hamper the market's growth in this region.

Some of the prominent players operating in the agriculture analytics market include Deere & Company, IBM Corporation, SAP SE, Trimble, Monsanto Company, Oracle Corporation, Accenture, Iteris Inc., TARANIS, Agribotix LLC, Agrivi, DTN, aWhere Inc., Conservis Corporation, DeLaval, Farmer's Business Network, Farmers Edge, GEOSYS, Granular, Gro Intelligence, Proagrica, Precision Hawk, REASON, Stesalit Systems, and Stesalit Systems, among others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The Agriculture Analytics Market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global agriculture analytics market based on application and geography. 

Key questions are answered in this report.

  • COVID-19 impact analysis on the global agriculture analytics industry
  • What are the current market trends and dynamics in the agriculture analytics market, and what are the valuable opportunities for emerging players?
  • What is driving the agriculture analytics market?
  • What are the key challenges to market growth?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product type segment holds a larger market share and why?
  • Are low- and middle-income economies investing in the agriculture analytics market?
  • Key growth pockets on the basis of regions, types, applications, and end-users
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?

Unique data points of this report

  • Statistics on analytics solution penetration and spending worldwide
  • Recent trends across different regions in terms of the adoption of analytics solutions for various applications in the agriculture sector
  • Notable developments are going on in the agriculture analytics industry.
  • Attractive investment propositions for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Related Report:

Connected Agriculture Market

By Component (Solution, Services), By Offerings (Device Management, Application Enablement, Connectivity Management), By Application (Precision Farming, Yield Monitoring, Soil Monitoring, Irrigation System, Fish Farming, Horticulture, Livestock Monitoring, Smart Green House, Others) - Growth, Future Prospects, And Competitive Landscape, 2019–2027

Agriculture Sensors Market

By Sensors Type (Physical Sensors, Mechanical Sensors, and Chemical Sensors), Application (Yield Monitoring and Mapping, Soil Monitoring, Disease Control, and Detection, and Irrigation and Water Management), and Competitive Analysis, 2018–2026

Frequently Asked Questions:

The market for Agriculture Analytics Market is expected to reach US$ 560.0 Mn By 2027.

The Agriculture Analytics Market is expected to see significant CAGR growth over the coming years, at 15.3%.

The report is forecasted from 2019 To 2027.

The base year of this report is 2018.

Deere & Company, IBM Corporation, SAP SE, Trimble, Monsanto Company, Oracle Corporation, Accenture, Iteris Inc., TARANIS, Agribotix LLC, Agrivi, DTN, aWhere Inc., Conservis Corporation, DeLaval, Farmer's Business Network, Farmers Edge, GEOSYS, Granular, Gro Intelligence, Proagrica, Precision Hawk, REASON, Stesalit Systems, and Stesalit Systems, are some of the major players in the global market.

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Published Date:  Jul 2019
Category:  Technology & Media
Report ID:   59759
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
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