Agriculture Analytics Market Size, Growth, Analysis - Forecasts to 2026
Agriculture Analytics Market Insights
The global agriculture analytics market is projected to grow at a remarkable rate over the forecast period. The market growth is expected to be driven by slew of technological advancements aimed at improving crop yields and other applications such as livestock monitoring, smart green house, and risk management among others. Agriculture analytics safeguards the risk against climate uncertainty and thus reduces the crop losses by providing reliable agricultural information.
The market growth is also seen to be positively influenced by its increased application in precision farming. The systematic deployment of agriculture analytics’ services enables the end-users to get real-time access to information such as rainfall and other weather conditions. Moreover, rising adoption of machine learning techniques, drone analytics, and advanced data analytics have significantly contributed towards the market growth. However, reluctance of small-scaled farmers to adopt technologies coupled with lack of standardization in the overall market is expected to hinder the market growth over the forecast period.
Agriculture Analytics Market: Offering Insights
On the basis of offering, the agriculture analytics market is segmented into Hardware, Software, and Services. The software segment is further divided into web based and cloud based software. The hardware segment accounted for a significant market share in 2018 and is anticipated to maintain its dominance over the coming years. The software segment is expected to emerge as the fastest growing segment over the forecast period due to high adoption of cloud-based and smart software technologies. These technologies help the farmers and agrochemical industries to plan their harvests accordingly and stay competitive in the industry.
Agriculture Analytics Market: Application Insights
By application, the agriculture analytics market is segmented into yield monitoring, field mapping, weather tracking & forecasting, irrigation management, inventory management, livestock monitoring, fish farming applications, and smart greenhouse among others. Agriculture analytics majorly finds its application in yield monitoring due to its high adoption worldwide. The weather tracking & forecasting segment is also expected to account for a substantial market share over the coming years. The growth of this segment is propelled by high adoption of data collection & processing software & services globally for extremely precise weather forecasts.
Agriculture Analytics Market: End-user Insights
By end-user, the industry is segmented into farmers, weather forecast, agricultural regulatory bodies, and agrochemical industry among others. Agricultural analytics are widely adopted by large-scale based farmers and agrochemical industry. The farmers’ end-use segment in the overall agriculture analytics market has held a considerable share in 2018. Farmers use agriculture analytics to gather information about optimal harvesting times, crop rotation, irrigation management, and risk management among others.
Agriculture Analytics Market: Regional Insights
Asia-Pacific is project to be the fastest growing region over the forecast period. The regional growth is positively influenced by rising adoption of technology in the countries such as India, China, Australia, and Japan among others. Also, increasing number of tech-savy consumers has led to high adoption of big-data analytics in agriculture. North America was valued at the highest in 2018 and is expected to be the largest market over the forecast period due to early adoption of advanced agriculture technologies.
Agriculture Analytics Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Agriculture Analytics Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase agriculture analytics services over the coming years. Some leading consumers of this market are Adecoagro, China Agri-Industries Holdings, and Illovo Sugar among others.
Agriculture Analytics Market: Company Market Share & Competitor Analysis
Some of the key players profiled in the report include IBM, Oracle, Microsoft, Blue River Technology Inc., Agribotix, Raven Industries, Deere & Company, and Trimble among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Agriculture Analytics Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Agriculture Analytics Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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