What Has Been the Progress and Growth of the Agriculture Analytics Market in Recent Years?
The agriculture analytics market has seen considerable growth due to a variety of factors.
• Recent years have seen a fast-paced expansion in the farm analytics market size. This growth is expected to continue from $1.68 billion in 2024 to $1.87 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.2%.
The upward trend during the historic period has been credited to a heightened concentration on food safety, government aid and subsidies, management of resources in relation to climate change, a surge in the world population, and growing requirements for improved crop yield optimization.
What Is The Expected Growth In The Agriculture Analytics Market?
The agriculture analytics market is expected to maintain its strong growth trajectory in upcoming years.
• In the following years, the market size of agriculture analytics is predicted to experience impressive growth, reaching $2.82 billion in 2029 with a compound annual growth rate (CAGR) of 10.9%.
This growth during the projected period can be ascribed to an increased acceptance of cloud-based solutions, precision agriculture practices, a rising demand for sustainable methods, the utilization of drones and satellite imaging, as well as data-based decision-making. Noteworthy trends in the forecast period comprise the incorporation of blockchain for enhanced transparency, advanced farm equipment and automation, tailored crop management, data interchange, and cooperative platforms.
What Main Forces Are Fueling Expansion In The Agriculture Analytics Market?
The upswing in the usage of precision agriculture is anticipated to fuel the expansion of the agriculture analytics market. The term precision agriculture is used to describe the technique of incorporating advanced technology, data-centric strategies, and innovative methods in farming to maximize the utilization of resources, boost productivity, and increase sustainability. There is a growing trend towards adopting precision farming due to factors such as efficiency needs, greater food demand, technological evolution, environmental conservation, government incentives, climate change dilemmas, the attractiveness of data-influenced decision-making, and better return on investments. Agriculture analytics encourages the uptake of precision farming by offering predictive insights to predict yields, identify issues in advance, and streamline resource management to decrease waste and augment efficiency. For instance, as per a report published by the United States Department of Agriculture, a US federal body, in August 2023, the average adoption rate of precision farming in the US stood at 25% in 2021 and rose to 27% in 2023. North Dakota topped with the highest adoption at 57%, followed by Illinois, Iowa, Kansas, Nebraska, and South Dakota, reporting rates of 49% or above. Hence, the escalation in the adoption of precision farming is propelling the growth of the agriculture analytics market.
What Are The Primary Segments In The Global Agriculture Analytics Market?
The agriculture analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: Cloud, On-Premises
3) By Technology: Remote Sensing And Satellite Imagery, Geographic Information System, Robotics And Automation, Big Data And Cloud Computing, Visualization And Reporting, Blockchain Technology, Other Technologies
4) By Application: Farm Analytics, Livestock Analytics, Aquaculture, Other Applications
5) By End Users: Farmers, Agronomists, Agribusinesses, Agricultural Researchers, Government Agencies, Other End Users
Subsegments:
1) By Solution: Farm Management Analytics, Yield Monitoring And Forecasting, Soil Health And Fertility Analytics, Climate And Weather Analytics
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Data Analytics And Advisory Services
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Which Key Trends Are Driving Changes In The Agriculture Analytics Market?
Major companies operating in the agriculture analytics market are focusing on the adoption of satellite imagery and AI-powered analytics features, such as map builders, to enhance operational efficiency, improve crop yields, and reduce costs, ultimately driving profitability and sustainability. The map builder enables farmers to create optimized variable-rate application maps by integrating satellite imagery and machinery data, enhancing resource efficiency and crop yields. For instance, in September 2024, EOS Data Analytics, a US-based company specializing in satellite-based software solutions, introduced the VRA Map Builder feature within its EOSDA Crop Monitoring platform to enhance precision farming capabilities. This new tool allows farmers and agronomists to generate Variable Rate Application (VRA) maps by integrating data from various sources, including satellite imagery and yield data from smart machinery. Aimed at users on the Professional plan, the VRA Map Builder simplifies the traditionally complex process of creating accurate VRA maps, making it more accessible to those without extensive technical knowledge. By enabling seamless uploads of machinery data, the feature helps optimize agricultural inputs based on specific field conditions, ultimately boosting crop yields while lowering costs and minimizing environmental impact.
Who Are the Key Players In The Agriculture Analytics Market?
Major companies operating in the agriculture analytics market are:
• Microsoft Corporation
• BASF SE
• Amazon Web Services
• Accenture plc
• International Business Machines Corporation
• Deere & Company
• Oracle Corporation
• SAP SE
• AGCO Corporation
• Wipro Inc.
• Corteva Inc.
• Xylem Inc.
• Hexagon AB
• Trimble Inc
• Topcon Positioning Systems Inc
• Planet Labs PBC
• PrecisionHawk Inc.
• Descartes Labs
• Agribotix LLC
• Conservis LLC
What Is The Most Dominant Region In The Agriculture Analytics Market?
North America was the largest region in the agriculture analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agriculture analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
