Published on 13 Oct 2020:

Meticulous Research – a leading global market research company, published a research report titled “Agriculture Analytics Market by Component (Solutions, Services), Application (Farm, Livestock, Aquaculture, and Others), Deployment (Cloud, On-premise), Farm Size (Small and Medium-sized Farms, Large Farms), and Region – Global Forecast to 2027”.

According to this latest publication from Meticulous Research, the agriculture analytics market is expected to grow at a CAGR of 17.5% from 2019 to 2027 to reach $2.27 billion by 2027. This market is majorly driven by growing digitalization in the agriculture industry, the rising implementation of advanced analytics, and data-driven decision-making techniques. The increasing demand for specialized digital agriculture services and government initiatives to promote modern agricultural techniques are poised to offer significant opportunities for players in the agriculture analytics market. However, the fragmented agriculture industry, heavy capital investment, and reluctance in adopting agriculture analytics due to data privacy and security concerns are expected to hinder this market's growth.

The agriculture analytics market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented into component, deployment type, application, farm size, and geography. The study also evaluates industry competitors and analyses the market at the country level.

In 2020, based on component, the solutions segment is expected to command the largest share of the agriculture analytics market. The large share of this segment is mainly attributed to the increasing usage of software solutions to manage and improvise the efficiency of the agriculture business by streamlining farming operations. Further, the growing adaptability of these solutions to integrate upcoming technologies is poised to drive the growth of this segment.

In 2020, based on application, the farm analytics segment is expected to command the largest share of the agriculture analytics market. Farm analytics consists of different sub-applications, including farm planning, production, and post-harvesting activities, such as storage, processing, and transportation. The large share of the farm analytics segment is primarily attributed to the growing investments in data-driven technologies for efficiently managing farms for increased crop production. Besides, farm analytics help farmers yield a maximum output with optimum utilization of resources.

In 2020, based on deployment type, the cloud-based segment is poised to command the largest share of the agriculture analytics market. The large share of this segment is attributed to the extensive benefits provided by cloud providers in terms of SaaS, PaaS, and IaaS for agriculture analytics. Besides, the cloud-hosted software is maintained, updated, and secured by cloud providers and allows farmers to use the software freely.

In 2020, based on farm size, the large farms segment is projected to account for the largest share of the agriculture analytics market. This can be attributed to the growing technical awareness to reduce excessive manual efforts. Besides, the implementation of advanced technologies on a large scale proves to be more affordable and viable for large farm sizes.

Geographic Review:

In 2020, geographically, North America is projected to command the largest share of the agriculture analytics market. This large share is primarily attributed to the presence of major agriculture analytics companies and their focus on developing advanced agriculture analytics technology, along with an increasing government funding for agriculture analytics advancements. Besides, the presence of large-sized agricultural fields and acceptance of technology among farms has further contributed to North America’s large share in the agriculture analytics market.

Also, Asia-Pacific is expected to witness a high growth rate in the forecast period, owing to the rising spending capacity of farmers on data-driven solutions and increasing number of start-ups offering innovative agriculture analytics solutions at affordable prices.

Key Players:

The report includes a competitive landscape based on the extensive assessment of the key strategic developments adopted by the leading market participants in the agriculture analytics industry over the last four years (2016-2020). The key players profiled in the agriculture analytics market are Accenture plc. (Ireland), Agribotix LLC (U.S.), Agrivi (U.K.), aWhere, Inc. (U.S.), Conservis Corporation (U.S.), Deere & Company (U.S.), DeLaval Inc. (Switzerland), DTN (U.S.), Farmer's Business Network, Inc. (U.S.), Farmers Edge Inc. (Canada), Geosys, Inc. (U.S.), Granular, Inc. (U.S.), Gro Intelligence, Inc. (U.S.), IBM Corporation (U.S.), Iteris Inc. (U.S.), Monsanto Company (U.S.), Oracle Corporation (U.S.), PrecisionHawk Inc. (U.S.), SAP (Germany), and Trimble Inc. (U.S.), among others.

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Key questions answered in the report-

  • What is the historical market for agriculture analytics across the globe?
  • What are the market forecasts and estimates from the period of 2019-2027?
  • How is the COVID-19 pandemic impacting the growth of the agriculture analytics market?
  • Are there any government initiatives supporting agriculture analytics and its complementary technologies?
  • What are the recent developments in the agriculture analytics market?
  • What are the different strategies adopted by the major players in the market?
  • What are the geographic trends and high growth countries?
  • Who are the local emerging players in the agriculture analytics market, and how do they compete with the other players?

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