Growing government initiatives for adopting enhanced agricultural techniques, coupled with advanced technologies for enhancing crop productivity and data management systems, drives the demand for agriculture analytics market
Factors such as food security concerns, population growth, and climate change have upsurged the industry into pursuing more innovative methods to protect and enhance crop yield. Furthermore, the evolution of the Internet of Things (IoT) has also fueled the growth momentum of the industry with its various applications in the advancements of the interactive software platform. Hence it is expected that the global agriculture analytics market size is anticipated to reach USD 2,149 million by 2028.
Agriculture analytics for farming enable enhanced yield and productivity. Thus, agribusiness organizations adopt AI-enabled platforms in the form of predictive analytics-based solutions. The industry players operating within the agriculture analytics market are investing significant resources in continuous product development to keep up with the market dynamics.
Based on the application segment, the market is bifurcated into livestock analytics, aquaculture analytics, farm analytics, and others. In 2019, the farm analytics segment gathered the largest market revenue and it is anticipated to dominate the market throughout the forecast period. Precision farming uses AI for data interpretation, collection, and scrutiny of digital information. On the other hand, livestock analytics is anticipated to grow at a substantial rate in the next seven to eight years. Livestock analytics involves using several devices, such as farm management systems, feeding systems, RFID, robotic milking machines, GPS, and other software technology solutions, to enhance farm production.
The global agriculture analytics industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific region is expected to be a prominent region with countries such as India as the highest agriculture analytics market. Countries such as Japan, China, and South Korea are anticipated to be at the forefront in the adoption of agriculture analytics owing to increased technological investment in the countries. Moreover, the rising trend of cloud-based solutions in medium and large industries propels the demand for agriculture analytics in the region.
The major players of the global agriculture analytics market are Deere & Company, IBM, SAP SE, Monsanto Company, Oracle, Trimble, Accenture, Iteris, Agribotix, Agrivi, DTN, Taranis, aWhere Inc., Conservis Corporation, Farmer's Business Network, DeLaval, Farmers Edge, GEOSYS, Granular, and more. The agriculture analytics solution market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Agriculture Analytics Market
Component Overview, 2018-2028 (USD Billion)
Deployment Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Aquaculture Analytics
- Farm Analytics
- Livestock Analytics
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America