The market report offers a detailed analysis segmented by Offering (Solutions, Services); by Agriculture Type (Precision Farming, Livestock Farming, Aquaculture Farming, Vertical Farming, Others); by Technology (Remote Sensing & Satellite Imagery, Geographic Information System, Robotics & Automation, Big Data & Cloud Computing, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The agriculture analytics market is estimated to be at USD 1,476.71 Mn in 2024 and is anticipated to reach USD 2,610.83 Mn in 2029.
- The agriculture analytics market is registering a CAGR of 12.07% during the forecast period 2024-2029.
- The global agriculture analytics market is driven by the need for real-time data in optimizing agricultural processes. Agriculture analytics integrates technologies like IoT sensors, drones, satellite imagery, and AI to analyze soil health, crop yields, and weather patterns.
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Ecosystem
- The participants in the global agriculture analytics industry are leading the development of analytics platforms and offering solutions to enhance farm productivity and sustainability.
- These companies primarily invest in artificial intelligence (AI), the Internet of Things (IoT), and blockchain technologies to drive the adoption of agricultural analytics, along with collaborations with tech firms and governments to expand the use of analytics and maintain a competitive edge in the market.
- Several important entities in the agriculture analytics market include Deere & Co.; IBM Corp.; Bayer AG; Trimble Inc.; SAP SE; and others.
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Findings
Attributes | Values |
---|---|
Historical Period | 2018-2022 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Market Size (2024) | USD 1,476.71 Mn |
Market Size (2029) | USD 2,610.83 Mn |
Growth Rate | 12.07% CAGR from 2024 to 2029 |
Key Segments | Offering (Solutions, Services); Agriculture Type (Precision Farming, Livestock Farming, Aquaculture Farming, Vertical Farming, Others); Technology (Remote Sensing & Satellite Imagery, Geographic Information System, Robotics & Automation, Big Data & Cloud Computing, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
Key Vendors | Deere & Co.; IBM Corp.; Bayer AG; Trimble Inc.; SAP SE |
Key Countries | The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa |
Largest Market | North America |
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Trends
- Use of Drones and Satellite Data: Drones and satellite imaging have become critical tools for mapping and monitoring crop health. Trimble launched a drone-based crop monitoring system in 2023, allowing farmers to gather detailed insights into soil conditions and crop growth from aerial images.
- Focus on Sustainable Farming: The agriculture industry is increasingly focusing on sustainability. Analytics tools are being used to monitor carbon footprints and water usage. In 2023, Cargill introduced a sustainability-focused analytics solution to help farmers reduce their environmental impact.
- Increased IoT Sensor Adoption: The integration of Internet of Things (IoT) sensors in agriculture is transforming farming practices. These sensors provide real-time data on soil moisture, nutrient levels, and weather conditions, enabling more precise and data-driven agricultural management. In 2023, AgroSmart, a Brazilian tech company, implemented IoT systems for sugarcane farmers, improving resource use efficiency.
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Catalysts
- Adoption of Precision Farming: Precision farming, driven by real-time analytics, allows for optimal use of resources like water, fertilizers, and pesticides. In 2023, the US Department of Agriculture expanded subsidies for precision agriculture technologies, boosting adoption across large-scale farms.
- Government Initiatives: Governments worldwide are supporting smart farming through grants and subsidies to boost agricultural productivity. In 2023, the US Department of Agriculture (USDA) launched an initiative to promote digital farming solutions, providing funding for the adoption of analytics platforms among US farmers.
- Unpredictable Weather Patterns: The increasing unpredictability of weather due to climate change is pushing farmers to adopt analytics tools to predict and mitigate risks. In 2023, Climate Corporation, a subsidiary of Bayer, launched enhanced analytics tools to help farmers optimize planting schedules and reduce risks associated with extreme weather events.
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Restraints
- Data Privacy Concerns: As farms adopt more digital tools, data privacy and security have become growing concerns. In 2023, several US-based farming cooperatives raised alarms about potential data breaches that could compromise sensitive farming data, slowing down the adoption of analytics.
- High Initial Investment Costs: While analytics tools offer long-term benefits, the high initial cost of adopting technologies like drones, sensors, and AI platforms is a significant barrier for small- and medium-sized farms. In 2023, farmers in India reported that costs were a major hurdle to adopting precision agriculture tools despite subsidies.
- Limited Internet Connectivity in Rural Areas: Lack of internet connectivity in rural and remote areas is hindering the adoption of agriculture analytics. In 2023, farmers in Sub-Saharan Africa reported significant challenges in using analytics platforms due to poor network infrastructure, limiting their ability to access real-time data.
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Table of Contents
1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Agriculture Analytics Market (2018 – 2022) 2.2.    Global Agriculture Analytics Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Agriculture Analytics Market by Offering 3.1.1. Solutions 3.1.2. Services 3.2.    Global Agriculture Analytics Market by Agriculture Type 3.2.1. Precision Farming 3.2.2. Livestock Farming 3.2.3. Aquaculture Farming 3.2.4. Vertical Farming 3.2.5. Others 3.3.    Global Agriculture Analytics Market by Technology 3.3.1. Remote Sensing & Satellite Imagery 3.3.2. Geographic Information System 3.3.3. Robotics & Automation 3.3.4. Big Data & Cloud Computing 3.3.5. Others 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Agriculture Analytics Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Deere & Co. 9.2.    IBM Corp. 9.3.    Bayer AG 9.4.    Trimble Inc. 9.5.    SAP SE 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Agriculture Analytics Market – FAQs
1. What is the current size of the agriculture analytics market?
Ans. In 2024, the agriculture analytics market size is USD 1,476.71 Mn.
2. Who are the major vendors in the agriculture analytics market?
Ans. The major vendors in the agriculture analytics market are Deere & Co.; IBM Corp.; Bayer AG; Trimble Inc.; SAP SE.
3. Which segments are covered under the agriculture analytics market segments analysis?
Ans. The agriculture analytics market report offers in-depth insights into Offering, Agriculture Type, Technology, and Geography.