DUBLIN--(BUSINESS WIRE)--The "Agriculture Analytics Market by Application Area (Farm Analytics, Livestock Analytics, and Aquaculture Analytics), Component (Solution and Services), Farm Size (Small, Medium-Sized, and Large), Deployment Type, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global agriculture analytics market size is projected to grow from USD 0.8 billion in 2020 to USD 1.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
Unlock the potential of urban farming, and growing trend of digitization and risk assessment would drive the adoption of agriculture analytics solutions. Rising demand to improve agricultural supply chain management due to COVID-19 pandemic, are also expected to drive the market growth. However, lack of standardization practices is one of the factors hindering the market growth. The objective of the report is to define, describe, and forecast the agriculture analytics market size based on component, application areas, farm size, deployment mode, and region.
The COVID-19 impact on various countries has affected the availability of labor, harvesting of crops, and disrupted crop monitoring. Digital agricultural processes such as drones and automated machines are expected not only to increase productivity, but also will require less manpower. Countries such as China, France, and the US have taken steps to increase the adoption of digital agriculture technologies to cope up with the current crisis situation. Even in other countries such as India and Spain, the demand for digital agriculture is expected to grow as a long-term positive effect of the COVID-19 situation.
Live Stock Analytics: The fastest-growing segment of the agriculture analytics market, by application.
Agriculture analytics solution and services helps livestock producers make better decisions by acquiring real-time information about animals and improve various livestock management process like feeding management, heat stress management, milk harvesting, breed management, behaviour monitoring and management, calf management, genetic management, and cattle sorting. Livestock analytics involves using different devices such as RFID, GPS, feeding systems, farm management systems, robotic milking machines, and other software technology solutions to improve farm production.
Large Farms: The largest growing farm size segment of the agriculture analytics market.
Technological advancements and growing focus to follow modern farming practices have made farmers and growers implement advanced agriculture analytics solutions. Large farm producers have the capital to invest on new technologies as compare to small and mid-size farm producers which allow them to develop a well-equipped next-generation agricultural infrastructure. Agriculture analytics solutions implemented on this agricultural infrastructure help farmers make data-based decisions such as which crops to plant for their next harvest, soil health, water availability, and predictions on rainfall.
APAC: The fastest-growing region in the agriculture analytics market.
APAC is expected to grow at the highest CAGR during the forecast period, due to the increase in demand for agriculture analytics solutions and services. Growing economies in countries such as China, Australia and New Zealand, India, and Israel provide huge opportunities for the adoption of the agriculture analytics solution and services in the APAC region. Meanwhile, North America is projected to hold the largest market size during the forecast period.
Market Dynamics
Drivers
- Increased Adoption of Urban Farming
- Growing Trend of Digitization and Risk Assessment
- Rising Demand to Improve Agricultural Supply Chain Management due to the COVID-19 Pandemic
Restraints
- High Cost of Gathering Precise Field Data
- Lack of Standardization Practices
Opportunities
- Growing Adoption of Big Data IoT Sensors Transforming Livestock Care
- Developing Countries to Offer Significant Growth Opportunities
Challenges
- Technological Awareness Among Farmers
- Cumulative Growth Analysis
Companies Mentioned
- Accenture
- Ageye Technologies
- Agribotix
- Agrivi
- Agvue Technologies
- Awhere
- Conservis Corporation
- Deere & Company
- Delaval
- DTN
- Farmers Edge
- Fasal
- FBN
- Geosys
- Granular
- Gro Intelligence
- Heliopas AI
- IBM
- Iteris
- Monsanto Company
- Onesoil
- Oracle
- Precisionhawk
- Proagrica
- Resson
- Root AI
- SAP
- Stesalit Systems
- Taranis
- Trimble
For more information about this report visit https://www.researchandmarkets.com/r/9nyqtw
