Overview
The global agriculture analytics market is projected to reach USD 1.5 billion by 2026, registering a CAGR of 11.71% during the forecast period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the agriculture analytics market to offer a better glimpse into the coming years
The global agriculture analytics market has been segmented based on
Based on component, the global Agriculture Analytics Market Growth has been segmented into solution and services. The solution segment is expected to account for a significant market share over the projected period. The increasing need for agribusiness to analyze critical farm-related data for better decision-making contributes to the growth of the solution segment in the global market during the forecast period.
Based on farm size, the global agriculture analytics market has been segmented into large farms and small and medium-sized farms. The large farms segment accounted for the larger market share and is expected to hold the higher CAGR during the forecast period. The adoption of agriculture analytics solutions in large farms is higher than in small and medium-sized farms due to the affordability. Additionally, large farms usually have the capital to invest in innovative technologies that allow them to improve a well-equipped next-generation agricultural infrastructure.
Based on deployment, the global agriculture analytics market has been segmented into cloud and on-premises. The cloud-based segment is projected to witness the higher CAGR during the study period. Cloud-based software solutions do not require users to purchase a server to run the analytics techniques. Cloud computing focuses on shared networks, servers, and storage devices, eliminating the high costs incurred in maintaining hardware and software infrastructure.
Based on application, the agriculture analytics market has been segmented into farm analytics, livestock analytics, aquaculture analytics, and others. The others segment is further sub-divided into orchid, forestry, and horticulture. The livestock analytics segment is expected to hold the largest share during the forecast period. Agriculture analytics solutions aid livestock producers in making better decisions by acquiring real-time information about animals and improving various livestock management processes.
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Regional Analysis:
The global market for agriculture analytics is projected to expand at 11.71% CAGR during the forecast period, to reach 1.5 billion by 2026. The geographic analysis of the agriculture analytics market has been conducted in North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is likely to be the dominant regional market due to the faster adoption of innovative technologies in developed countries in the region—the US and Canada. The US accounted for the largest market share in the region, followed by Canada and Mexico. This growth can be attributed to the favorable government initiatives to encourage the adoption of agriculture analytics techniques across various industries. The main factor driving the agriculture analytics market in this region is the strong presence of key industry players offering agriculture analytics solutions.
The European market has been segmented into the UK, Germany, France, and the rest of Europe. In terms of market size, Europe is expected to be the second-largest regional market. The UK is projected to be the leading country-level market in the region, while Germany is projected to register the highest growth during the review period. A growing number of agriculture analytics start-ups in the region are boosting the adoption of agriculture analytics to improve agricultural production.
Asia-Pacific is projected to register the fastest growth rate over the forecast period, with the regional market being segmented into China, Japan, India, and the rest of Asia-Pacific. This share can be attributed to the increasing investments in developing and implementing various agriculture analytics techniques. Furthermore, the increasing government and research institute initiatives in the region to develop agriculture analytics technology are likely to drive the growth of the market in Asia-Pacific.
The markets in the Middle East & Africa and South America have started adopting these technologies only recently. Numerous government initiatives have been introduced in developing countries to encourage the implementation of modern precision farming technologies, thereby maximizing productivity.
Key Players
The key players of the global agriculture analytics market are 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), GEOSYS (US), Granular (US), Gro Intelligence (US), Proagrica (UK), PrecisionHawk (US), RESSON (Canada), Stesalit Systems (India), AgVue Technologies (US), Fasal (India), AGEYE Technologies (US), HelioPas AI (Baden-Württemberg), OneSoil (Belarus), and Root AI (US).
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Agriculture Analytics Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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