According
to the new market research report "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 2023", published by MarketsandMarkets™, the global agriculture analytics market size is
expected to grow from USD 585 million in 2018 to USD 1,236 million by 2023, at
a CAGR of 16.2% during the forecast period.
An
increasing need to improve the farm productivity and associated farming
operations, and a growing demand for specialized digital agriculture service
providers who can offer cloud-based analytics services are major growth factors
for the global agriculture analytics market.
The on-premises deployment mode to hold
a larger market size during the forecast period
Data
security concerns among the end users is contributing to the higher adoption of
on-premises agriculture analytics solution globally. The on-premises
agricultural analytics solution is majorly deployed by large farms as they have
better ability to invest. Moreover, large farms have a wide variety of business
segments with serving to broader geographic region; hence, data security is of
utmost importance.
Browse and
in-depth TOC on "Agriculture
Analytics Market"
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The managed services segment to grow at a
higher CAGR during the forecast period
A growing need to
outsource field-related operations, owing to the shortage of labor is expected
to drive the growth of the managed services in the agriculture analytics market.
Managed service providers use their analytical tools to collect, process, and
analyze data to provide valuable insights to farmers. By these actionable
insights, farmers can forecast their crop production, improve crop cultivation,
and make better decisions.
North America to hold the largest market size
during the forecast period
North America is
estimated to account for the largest share of the market in 2018. The region
comprises developed countries, such as the US and Canada, and is considered the
most advanced region in terms of adopting digital technologies. A majority of
farmers or growers in the region have deployed agriculture analytics solutions
to optimize livestock, farms, orchid, forestry, and horticulture and
aquaculture farming. North America has a wide presence of key industry players
offering agriculture analytics solutions, and its farmers’ financial position
enables it to invest majorly in the leading tools and technologies for
effective business operations.
Major
vendors offering agriculture analytics solution and services across the globe
include Deere & Company (US), IBM (US), SAP SE (Germany), Trimble (US),
Monsanto Company (US), Oracle (US), Accenture (Ireland), Iteris (US), Taranis
(Israel), Agribotix (US), Agrivi (UK), DTN (US), aWhere Inc. (US), Conservis
Corporation (US), DeLaval (Sweden), Farmers Business Network (US), Farmers Edge
(US), GEOSYS (US), Granular (US), Gro Intelligence (US), Proagrica (UK),
PrecisionHawk (US), RESSON (Canada), Stesalit Systems (India), and AgVue
Technologies (US).
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