CHICAGO, Jan. 8, 2021 /PRNewswire/ -- According to market research report on "Agriculture Analytics Marketby 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", published by MarketsandMarkets™, the global Agriculture Analytics Market size is expected 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.
The growing trend of digitization and risk assessment and rising demand to improve agricultural supply chain management due to the COVID-19 pandemic driving the adoption of the Agriculture Analytics Market.
Increasing use of data by farmers to know more about their farms, and crops driving the adoption of managed services segment of agriculture analytics platforms during the forecast period
The growing need to outsource field related operation owing to a shortage of labor is expected to drive the growth of the managed services in the Agriculture Analytics Market. Managed service providers use their powerful 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.
Rising need to secure data by large farms to drive the demand for on-premises to hold a larger market size
Data security concerns among the end-users is contributing to the higher adoption of on-premises agriculture analytics solution globally. The on-premised agricultural analytics solution is majorly deployed by the large farms as it has better ability to invest. Moreover, large farms have wide variety of business segment with serving to broader geographical reason; hence data security is of utmost importance.
North America to dominate the market 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. The majority of farmers or growers in the region have deployed agriculture analytics solutions to optimize livestock, farms, orchid, forestry, horticulture and aquaculture farming. Moreover, the North American region exhibits a wide presence of key industry players offering agriculture analytics solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.
The major vendors covered in the Agriculture Analytics Market include Deere & Company (US), IBM (US), SAP SE (Germany), Monsanto (US), Oracle (US), Accenture (Ireland), Iteris (US), Taranis (Israel), Agribotix (US), Agrivi (UK), DTN (US), aWhere (US), Conservis Corporation (US), DeLaval (Sweden), FBN (US), Farmers Edge (US), GEOSYS (US), Granular (US), Gro Intelligence (US), Proagrica (UK), PrecisionHawk (US), RESSON (Canada), Stesalit Systems (India), AgVue Technologies (US), Fasal (India), AGEYE Technologies (US), HelioPas AI (Baden-Württemberg), OneSoil (Belarus), and Root AI (US).
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