The Global Agriculture Analytics Market size is expected to reach $3.4 billion by 2030, rising at a market growth of 13.1% CAGR during the forecast period.
By providing valuable insights and facilitating data-driven decision-making, visualization, and reporting play a crucial role in the agriculture analytics market. Therefore, the Visualization & Reporting segment registered $111.2 million revenue in the market in 2022. In this regard, visualization relates to the graphical representation of agricultural data, whereas reporting is the presentation of these visualizations alongside pertinent analysis and findings. The market will be driven by the need for farmers, agronomists, and other stakeholders to rapidly comprehend complex information and recognize patterns or trends that may not be readily evident in unprocessed data.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In February, 2021, IBM Corporation came into partnership with Solinftec, to offer real-time decision-making solutions for agriculture. Additionally, In June, 2023, Deere & Company signed a contract with PCT Agcloud, to support cotton and grain farmers to easily exchange data from their John Deere Operations Center with PCT Agcloud.
Based on the Analysis presented in the KBV Cardinal matrix; Accenture PLC, Deere & Company, Bayer AG and Oracle Corporation are the forerunners in the Market. In June, 2023, Bayer AG came into an agreement with Cargill, Inc, to provide farmers with creative solutions and accelerating optimal price awareness for their produce. Companies such as IBM Corporation, SAP SE and Trimble, Inc. are some of the key innovators in the Market.
Sustainable agriculture requires efficient resource utilization, and agriculture analytics solutions play a crucial role in optimizing resource allocation on farms. With the incorporation of data from multiple sources, such as field sensors, machinery, and weather stations, producers can collect information on the availability and requirements of resources. Farmers may identify the optimal irrigation schedule for their crops, for example, by analyzing soil moisture data from field sensors and meteorological data. This prevents over- and under-watering, reduces water pollution, and ensures crops receive the ideal amount of moisture for growth. Using agriculture analytics solutions facilitates optimal resource utilization, waste reduction, reduced environmental impact, and enhanced sustainability of agricultural practices.
By transforming data collection, analysis, and decision-making in the agricultural sector, technological advancements have played a significant role in fostering the adoption of agriculture analytics. First, the development and ubiquitous availability of Internet of Things (IoT) devices, drones, sensors made it possible for farmers to collect real-time data on various operational aspects. This information includes weather patterns, soil conditions, crop health, and equipment performance. The ability to collect such precise and current data has paved the way for more accurate and insightful agricultural analytics. In agriculture, machine learning models can assist with crop disease prediction, irrigation schedule optimization, livestock behavior anomaly detection, and task automation. As additional data is collected, these models can continue to learn and develop.
Technological literacy and the skills divide pose significant obstacles to the expansion of the market for agriculture analytics. Lack of awareness and comprehension among farmers and agricultural stakeholders regarding the potential benefits of analytics in agriculture is a significant obstacle. Farmers and agricultural stakeholders who are already pressed for time and have limited resources may find it difficult to keep up with the latest analytics tools and platforms due to their continual introduction. Insufficient ongoing support and training to keep up with advancing technologies can make it hard for users to employ agriculture analytics solutions, thereby impeding market expansion effectively.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
Based on offerings, the market is bifurcated into solutions and services. In 2022, the solutions segment held the highest revenue share in the market. Advanced technologies and data analysis methods are utilized by agriculture analytics solutions to optimize and enhance agricultural operations. These solutions acquire, process, and analyze immense quantities of data from a variety of sources, such as weather patterns, soil conditions, vegetation growth, and machinery performance.
By agriculture type, the market is classified into precision agriculture, livestock farming, aquaculture farming, vertical farming, and others (organic and conventional agriculture). In 2022, the livestock farming segment generated a remarkable revenue share in the market. Using agriculture analytics solutions and services in livestock farming enables the collection of real-time data regarding animal health, feeding behavior, hygiene, and location monitoring, among others, to improve livestock management and production quality. Improving farm production through the use of RFID, GPS, feeder systems, farm management systems, robotic milking equipment, and other software technology solutions.
Based on end users, the market is segmented into farmers, agronomists, agribusinesses, agricultural researchers, and government agencies & others. In 2022, the farmers segment held the highest revenue share in the market. Precision agriculture, which incorporates technologies such as GPS, data analytics, and remote sensing, has transformed the way producers manage their operations. These tools allow producers to collect real-time data, generate field maps, and administer inputs such as fertilizers and pesticides with precision.
Based on farm size, the market is fragmented into large farms and small and medium-sized farms. In 2022, small & medium-sized farms represented a substantial revenue share in the market. Small farms can receive numerous benefits from agricultural analytics, resulting in the expansion of this market segment. Agriculture analytics equips small farmers with the tools and knowledge necessary to optimize their operations, increase productivity, mitigate risks, and make well-informed choices which may result to greater profitability and sustainability.
By technology, the market is fragmented into remote sensing & satellite imagery, geographic information system, robotics & automation, big data & cloud computing, visualization & reporting, blockchain technology, and others. In 2022, the remote sensing & satellite segment witnessed the largest revenue share in the market. Utilizing remote sensing and satellite imagery has transformed agriculture analytics by providing invaluable insights and data for optimizing agricultural practices. These technologies enable farmers and researchers to collect information about crop health, land use, and environmental conditions without extensive monitoring on the ground.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.3 Billion |
| Market size forecast in 2030 | USD 3.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 13.1% from 2023 to 2030 |
| Number of Pages | 391 |
| Number of Table | 593 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Agriculture Type, Farm Size, Technology, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA. In 2022, the North America region led the market with the maximum revenue share. Farmers and agribusinesses in North America are utilizing data-driven methods to optimize their operations, thereby elevating the significance of agriculture analytics. Farmers and agribusinesses are leveraging analytics to acquire important insights into their operations and make informed choices due to the increasing adoption of advanced technologies and availability of immense quantities of data. Rapid infrastructure advancements, pervasive utilization of digital technologies, and the popularity of data-driven solutions all encourage the growth of the market.
Free Valuable Insights: Global Agriculture Analytics Market size to reach USD 3.4 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Oracle Corporation, Accenture PLC, SAS Institute, Inc., Tetra Laval International S.A. (DeLaval), Deere & Company, Bayer AG, Iteris, Inc. and Trimble, Inc.
By Offering
By Agriculture Type
By End User
By Farm Size
By Technology
By Geography
This Market size is expected to reach $3.4 billion by 2030.
Rising demand for efficient resource utilization are driving the Market in coming years, however, Technological understanding and the skills gap restraints the growth of the Market.
IBM Corporation, SAP SE, Oracle Corporation, Accenture PLC, SAS Institute, Inc., Tetra Laval International S.A. (DeLaval), Deere & Company, Bayer AG, Iteris, Inc. and Trimble, Inc.
The Large Farms segment acquired maximum revenue in the Global Agriculture Analytics Market by Farm Size in 2022; thereby, achieving a market value of $2.5 billion by 2030.
The Precision Farming segment is leading the Market by Agriculture Type in 2022; thereby, achieving a market value of $1.2 billion by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.2 billion by 2030.
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