Agriculture Analytics Market

Agriculture Analytics Market Size & Share: Key Growth Factors

At a Compound Annual Growth Rate (CAGR) of 13.1% throughout the course of the forecast period, the size of the global agriculture analytics market is anticipated to increase from USD 1.4 billion in 2023 to USD 2.5 billion by 2025. The primary forces behind agriculture analytics offer insightful analysis and data-driven tools for making decisions that maximize farm operations, such as crop management, irrigation, and animal monitoring.

The growth of the Agriculture Analytics market is driven by several key factors:

  • Technological Advancements
  • Rising Demand for Food
  • Sustainable Agriculture Practices
  • Government Initiatives and Support
  • Increased Investment
  • Improved Accessibility and Affordability
  • Enhanced Supply Chain Management

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Technological Advancements:

  • IoT and Sensors: Enhanced sensor technologies and IoT devices enable precise monitoring of soil health, weather conditions, and crop growth, facilitating data-driven farming.
  • AI and Machine Learning: Advanced algorithms for predictive analytics, crop yield forecasting, and pest management improve decision-making and operational efficiency.

Rising Demand for Food:

  • Population Growth: Increasing global population necessitates higher agricultural productivity to meet food demand.
  • Changing Dietary Preferences: Growing preference for organic and sustainably produced food drives the adoption of analytics to optimize production.

Sustainable Agriculture Practices:

  • Resource Optimization: Analytics help in the efficient use of water, fertilizers, and pesticides, promoting sustainability and reducing environmental impact.
  • Climate-Smart Agriculture: Data-driven insights aid in adapting to and mitigating the effects of climate change on agriculture.

Government Initiatives and Support:

  • Subsidies and Grants: Governments provide financial incentives and support for adopting advanced agricultural technologies.
  • Policy Frameworks: Regulatory support for digital agriculture and sustainability practices boosts market growth.

Increased Investment:

  • Venture Capital Funding: Significant investment in agtech startups accelerates innovation and the adoption of analytics solutions.
  • Public-Private Partnerships: Collaboration between public institutions and private companies drives research and development.

Improved Accessibility and Affordability:

  • Cloud Computing: Cost-effective and scalable cloud-based platforms make advanced analytics accessible to farmers of all sizes.
  • Mobile Technology: Mobile applications provide real-time insights and easy access to analytics, empowering farmers with timely information.

Enhanced Supply Chain Management:

  • Blockchain Technology: Ensures transparency and traceability in the agricultural supply chain, enhancing trust and efficiency.
  • Logistics Optimization: Analytics improve the efficiency of distribution networks, reducing waste and costs.

Agriculture Analytics Market Share - Global Industry Landscape

The leading companies in the Agriculture Analytics industry and their key offerings include:

  • Farmers Edge(Canada)
  • SAS Institute(US)
  • Iteris(US)
  • PrecisionHawk(US)
  • Conservis(US)

Leading agriculture analytics companies include established tech giants like Deere & Company and IBM alongside innovative startups like The Climate Corporation (Bayer CropScience) and CropIn. These companies leverage AI and big data to empower farmers with data-driven insights that optimize yields, manage resources, and improve farm operations.

Farmers Edge (Canada)

Market Share:

Farmers Edge is a significant player in the agriculture analytics market, particularly in North America, known for its extensive digital agriculture solutions.

Key Offerings:

  • FarmCommand: A comprehensive digital platform that integrates data from various sources like weather stations, soil sensors, and satellite imagery for real-time decision-making.
  • Smart Farming Solutions: Tools for precision agriculture, including variable rate technology, crop health monitoring, and predictive analytics.
  • Data Management: Services to collect, manage, and analyze farm data to improve yield and efficiency.

SAS Institute (US)

Market Share:

  • SAS Institute is a leading provider of analytics software and solutions globally, with a strong presence in various industries, including agriculture.

Key Offerings:

  • SAS Analytics for IoT: Tools that help in processing and analyzing large volumes of IoT data from agricultural sensors and devices.
  • Advanced Analytics and Machine Learning: Solutions for predictive modeling, forecasting, and optimization in agriculture.
  • Data Management: Comprehensive data integration and quality solutions tailored for the agricultural sector.

Iteris (US)

Market Share:

  • Iteris holds a notable market share in the agriculture analytics market, particularly recognized for its work in precision agriculture and smart farming.

Key Offerings:

  • ClearAg: An advanced platform offering agronomic insights, weather analytics, and crop health monitoring.
  • Decision Support Solutions: Tools that provide actionable insights for crop management, irrigation optimization, and risk mitigation.
  • Weather and Climate Analytics: Detailed analytics for weather patterns and their impact on agriculture.

PrecisionHawk (US)

Market Share:

  • PrecisionHawk is a prominent player in the agriculture analytics market, especially known for its drone-based solutions and aerial data analytics.

Key Offerings:

  • Drone Technology: Advanced drones equipped with sensors for capturing high-resolution imagery and data.
  • Data Processing and Analytics: Tools for processing aerial data to provide insights on crop health, field variability, and resource management.
  • PrecisionMapper: A platform for mapping and analyzing agricultural fields using drone data.

Conservis (US)

Market Share:

  • Conservis has a strong market presence in the agriculture analytics market, particularly among enterprise-level farms and agribusinesses.

Key Offerings:

  • Farm Management Software: Solutions for managing farm operations, including planning, tracking, and analyzing farming activities.
  • Financial Management: Tools for budgeting, forecasting, and financial analysis tailored for agriculture.
  • Data Integration: Services for integrating data from various sources to provide a comprehensive view of farm performance.

These companies are leading the way in leveraging advanced technologies and data analytics to transform agricultural practices, improve productivity, and promote sustainability.

Related Reports:

Agriculture Analytics Market by Offering (Solution and Services), Agriculture Type (Precision Farming, Livestock Farming, Vertical Farming), Technology (Remote Sensing, GIS, Robotics, Automation), Farm Size, End Users and Region - Global Forecast to 2028

Agriculture Analytics Market Size,  Share & Growth Report
Report Code
TC 6840
RI Published ON
6/27/2023
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