Westford, USA, June 21, 2023 (GLOBE NEWSWIRE) -- The global Agriculture Analytics market size is expected to reach USD 2.9 billion by 2030 and exhibit a CAGR of 12.7% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for improved crop yield and productivity, increasing need for resource optimization and cost reduction in agriculture, rising adoption of precision farming techniques, advancements in big data analytics and IoT technologies, shift towards sustainable and efficient farming practices, growing awareness about the benefits of data-driven decision making in agriculture are fueling the Market's growth.
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Growing Popularity of Precision Agriculture to Promote the Use of Agriculture Analytics
At a global scale, adoption of artificial intelligence (AI) and machine learning (ML), integration of Internet of Things (IoT) devices, increasing use of remote sensing and satellite imagery, growing popularity of precision agriculture, focus on sustainable and regenerative agriculture practices, expansion of data analytics platforms and software solutions, emphasis on farm management and optimization are the trends promoting market growth.
Several government initiatives such as government funding and grants for research and development in agriculture analytics, establishment of agricultural data repositories and information sharing platforms, development of policies and regulations promoting data-driven agriculture practices, collaborative projects between government and industry stakeholders to promote analytics adoption, and implementation of smart farming programs and initiatives are encouraging market growth.
Mixed Farming Type Demand to Grow Substantially in the Forecast Period
Mixed farming type dominated the global market owing to its diversification of operations. It also benefits from the synergies between crop production and livestock management. For example, livestock waste can be used as fertilizer for crops, while crop residues can serve as feed for animals. This integrated approach can enhance overall farm productivity and sustainability.
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Crop Monitoring is the Leading Application Segment
In terms of application, the crop monitoring segment is the leading segment due to the demand for optimizing crop yields. In addition, by leveraging agricultural analytics, farmers can monitor and analyze various parameters such as soil moisture, nutrient levels, pest and disease risks, and weather conditions. This enables them to make data-driven decisions and implement precise interventions to maximize crop productivity.
Asia-Pacific and North America are the leading Markets due to its Large-Scale Agriculture Operations
Region-wise, North America is one of the largest growing markets due to its large-scale agriculture operations. The region's governments have been supportive of initiatives promoting the use of agriculture analytics. Various government programs and funding schemes have been implemented to encourage the adoption of advanced technologies, including analytics, in agriculture. These initiatives aim to enhance farm sustainability, productivity, and profitability. One example of a government initiative in North America is the United States Department of Agriculture's (USDA) Precision Agriculture Initiative. This program promotes precision agriculture technologies, including analytics, to improve resource management, reduce environmental impact, and enhance farm profitability.
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Browse in-depth TOC on " Agriculture Analytics Market "
Pages - 233
Tables - 111
Figures - 77
Agriculture Analytics Market Report Suggests:
- Braiin Limited, an Australian precision agriculture company, has partnered with Northern Revival Acquisition Corporation (NRAC) to enhance farm productivity, crop yields, and environmental sustainability.
- In terms of application, the crop monitoring segment dominates due to the demand for optimizing crop yields.
- In terms of type, the mixed farming type segment is projected to gain more popularity due to its diversification of operations
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due to the presence of major market players
Agriculture Analytics Market Segmentation:
The global Agriculture Analytics market report is segmented based on Product type, application, and region.
By Farm Type
- Crop farms
- Livestock farms
- Mixed farms
- Others
By Application
- Farm management
- Livestock monitoring
- Crop monitoring
- Financial analysis
- Yield forecasting
- Supply chain management
- Others
By Date Source
- Satellite imagery
- Sensors and IoT devices
- Weather data
- Soil data
- Market data
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
Agriculture Analytics Market Major Company Profiles:
- Trimble Inc.
- AgJunction Inc.
- Deere & Company
- Agribotix LLC
- Farmers Edge Inc.
- The Climate Corporation (a subsidiary of Bayer)
- PrecisionHawk Inc.
- Taranis
- aWhere Inc.
- Iteris Inc.
- Descartes Labs
- SlantRange Inc.
- Granular Inc. (a subsidiary of Corteva Agriscience)
- Agrible Inc.
- SST Software
- Topcon Agriculture
- Agworld Pty Ltd.
- Farmobile LLC
- AgDNA
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