Agriculture Analytics Market Size, Share & Trends Analysis Report By Offering (Solutions And Services), By Application, By Farm Size, By Region, And Segment Forecasts, 2023 - 2030

Agriculture Analytics Market Size, Share & Trends Analysis Report By Offering (Solutions And Services), By Application, By Farm Size, By Region, And Segment Forecasts, 2023 - 2030

Agriculture Analytics Market Growth & Trends

The global agriculture analytics market size is expected to reach USD 14.22 billion by 2030, registering a CAGR of 13.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The global market is anticipated to be propelled by the increasing demand for food worldwide due to the rising global population, along with the surge in government spending on the development of agriculture infrastructure.

Governments, particularly in developing countries, are allocating substantial resources to enhance agricultural infrastructure. This heightened governmental investment is anticipated to facilitate the seamless integration of advanced analytics in agriculture, providing farmers and agribusinesses with valuable tools for optimizing farm operations.

Farmers and agribusinesses, recognizing the need to meet growing food demands, are actively seeking solutions that can enhance farm yield and operational efficiency. Agriculture analytics plays a crucial role by enabling remote monitoring of farm equipment, monitoring farm processes, and predicting crop yield, which is expected to increase its adoption among farmers and agribusinesses, thus supporting the growth of the market.

From the farmer's perspective, agriculture analytics serves as a critical tool for informed decision-making, enhancing overall operational efficiency and management effectiveness. Agriculture analytics solution provides the capability to manage and analyze data related to weather, soil, and other environmental conditions, enabling farmers to make strategic decisions that not only optimize economic returns but also contribute to a reduced environmental impact.

By harnessing analytical solutions, farmers gain valuable insights into crop management, resource allocation, and sustainability practices, allowing for a more precise and sustainable approach to agriculture. The adoption of agriculture analytics thus emerges as a new solution for modern farmers seeking to balance profitability with sustainable and responsible agricultural practices.

The market is competitive and has the presence of several key market players. Some prominent players in the market include Trimble; IBM Corporation; Wipro; SAP; among others. These players are adopting strategies such as partnerships and collaborations to gain a competitive edge. For instance, in September 2021, Ag-Analytics Technology Company, a farm data technology company, announced the acquisition of AcreValue. The acquisition is expected to help Ag-Analytics enhance its precision farm analytics and deliver enhanced land management tools to customers.

Agriculture Analytics Market Report Highlights

• The solution segment is estimated to be the largest in the agriculture analytics market in 2022, with a market share of 57.19%, and will continue to retain its dominance over the forecast period due to increasing demand for a comprehensive solution that aids in optimum resource utilization and increases the farm output.
• The precision farming segment is projected to grow at the fastest CAGR over the forecast period. The segment growth can be attributed to increasing demand from large farmland owners’ solutions that aid in better crop management and irrigation management.
• The farm size segment is expected to have a significant rate of growth over the forecast period, owing to increasing farm spending capacity. Large farmland owners adopt agriculture analytics solutions to increase crop management and increase farm yield.
• The North America region is anticipated to account for the largest revenue share in the market in 2022, due to the availability of developed infrastructure that aids in the easy integration of advanced solutions and full utilization of analytical solutions.

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