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Big Data Analytics In Agriculture Market Analysis, Market Size, Leading Players, Share And Forecast To 2033
Big Data Analytics In Agriculture Market
As per the report, the big data analytics in agriculture market size has grown rapidly in recent years. It will grow from $1.15 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The big data analytics in agriculture market size is expected to see rapid growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%.
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Precision Farming Gains Momentum Fueling Big Data Analytics Boom In Agriculture
The increasing adoption of precision farming is expected to propel the growth of big data analytics in the agriculture market going forward. Precision farming is an agricultural management refers to approach that utilizes technology to optimize crop production and efficiency by closely monitoring and responding to variability in field conditions. Precision farming is gaining traction due to its ability to enhance productivity, reduce input costs, and minimize environmental impact through targeted application of resources. Big data analytics in agriculture supports precision farming by analyzing vast amounts of farming data to provide insights for precise decision-making in crop management practices. For instance, in August 2023, according to a report published by the United States Department of Agriculture, a US-based federal agency, the average adoption of precision agriculture in the US was 25% in 2021 and increased to 27% in 2023. Moreover, North Dakota has the highest adoption rate at 57%, followed by states such as Illinois, Iowa, Kansas, Nebraska, and South Dakota, each reporting rates of 49% or higher. Therefore, the increasing adoption of precision farming will drive the growth of big data analytics in the agriculture market.
Strategic Partnership To Advance AI-Driven Sustainable Agriculture
Major companies operating in big data analytics in the agriculture market are adopting a strategic partnership approach to enhance AI, machine learning, and market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations combining their resources, expertise, and efforts to achieve common goals or objectives. For instance, in September 2023, Agrematch., an Israel-based biotechnology research and artificial intelligence (AI) company, collaborated with ICL Group Ltd., an Israel-based agrochemical manufacturing company, to deliver advanced AI to search for biostimulants to optimize agriculture. This collaboration seeks to maximize crop yields, enhance resource efficiency, and promote sustainable farming practices by providing farmers with precise, data-driven recommendations for using fertilizers and other agricultural inputs. Agrematch harnesses the power of data science and artificial intelligence, leveraging advanced machine and deep learning (ML/DL) algorithms alongside their proprietary database and integrating these technologies with expertise in biology, chemistry, and agriculture. They have developed a robust AI predictive platform to drive innovation, reduce environmental impact, and support farmers with the tools and knowledge to improve their productivity and sustainability.
The big data analytics in agriculture market covered in this report is segmented -
1) By Component: Solution, Services
2) By Type: Capturing Data, Storing Data, Sharing Data, Analyzing Data, Other Types
3) By Application: Chemical, Financial, Weather, Farm Equipment, Crop Production
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Major companies operating in the big data analytics in agriculture market are BASF SE, International Business Machines Corporation (IBM), Deere & Company (John Deere), SAP SE, Bayer AG, Yara International ASA, CNH Industrial NV, AGCO Corporation, Corteva Inc. , Hexagon AB, Valmont Industries Inc, Trimble Inc, NTT DATA Business Solutions AG, Topcon Positioning Systems Inc, Lindsay Corporation, AeroVironment Inc., Raven Industries Inc, The Climate Corporation, Planet Labs PBC, AG Leader Technology Inc., Farmers Edge Inc, PrecisionHawk Inc., Prospera Technologies, Descartes Labs, Agribotix LLC, AgDNA, OnFarm Systems, Conservis LLC
Contents of the report:
1. Executive Summary
2. Big Data Analytics In Agriculture Market Report Structure
3. Big Data Analytics In Agriculture Market Trends And Strategies
4. Big Data Analytics In Agriculture Market - Macro Economic Scenario
5. Big Data Analytics In Agriculture Market Size And Growth
…..
27. Big Data Analytics In Agriculture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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