Press release
Big Data Analytics In Agriculture Market Set to Reach $2.42 Billion by 2029 with 13.2% Yearly Growth
Big Data Analytics In Agriculture Market Size
The rise in precision farming usage is predicted to spur the expansion of big data analytics in the agricultural sector. Precision farming, a method of managing agriculture that employs technology to fine-tune crop production and efficacy by keenly observing and reacting to field variations, is becoming popular. This approach increases productivity, cuts input expenses, and reduces environmental harm by concentrating the application of resources. Big data analytics are a crucial part of precision farming, analyzing copious amounts of agricultural data to offer insights for accurate decision-making in crop management methods. For example, as per a report by the United States Department of Agriculture in August 2023, a US-based federal entity, the average US precision agriculture uptake was 25% in 2021, which rose to 27% in 2023. North Dakota reported the most substantial adoption rate of 57%, with states such as Illinois, Iowa, Kansas, Nebraska, and South Dakota all reported rates of 49% or higher. Thus, the rise in precision farming adoption is set to fuel the growth of the big data analytics in the agricultural market.
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How will the growth rate of the big data analytics in agriculture market shape industry trends by 2034?
The market size of big data analytics in the agricultural sector has seen a swift growth in the recent past. It is estimated to expand from $1.3 billion in 2024 to $1.47 billion in 2025, at a compound annual growth rate (CAGR) of 13.4%. Factors such as altered weather patterns, soil condition, crop production, occurrences of pests and diseases, technology integration, market valuation, and water consumption have contributed to this growth in the historical period.
In the coming years, the big data analytics in agriculture market size is predicted to experience a swift expansion. By 2029, it is projected to reach a value of $2.42 billion, with a compound annual growth rate (CAGR) of 13.2%. This growth during the forecast period can be accredited to various factors such as climate change, technological progress, population increase, regulatory alterations, sustainable practices, pest and disease control, and availability of resources. Notable trends for the forecast period encompass precision agriculture, smart water distribution systems, mechanization automation, drone utilization, genetic engineering, data-backed decision-making, and the use of blockchain for managing supply chains.
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What trends are poised to drive the future success of the big data analytics in agriculture market?
Leading corporations in the agricultural big data analytics market are utilizing a strategic alliance model to expand their AI and machine learning capabilities, as well as their market presence. This type of partnership generally involves two or more firms merging their resources, skills, and efforts to reach shared objectives. An example of this is the partnership established in September 2023 between Agrematch, an Israeli biotechnology research and AI company, and ICL Group Ltd, an Israeli agrochemical production company. Their mutual goal is to introduce sophisticated AI to facilitate the discovery of bio stimulants to optimize farming. The objective of this partnership is to boost crop production, increase resource efficiency, and advocate for eco-friendly farming practices by offering farmers accurate, data-driven advice on using fertilizers and other farming inputs. Agrematch leverages the advantages of data science and AI, utilizing advanced machine and deep learning algorithms in combination with their unique database and by tying these technologies with proficiency in biology, chemistry, and farming. They have built a solid AI predictive platform to foster innovation, lessen ecological damage, and furnish farmers with the necessary tools and information to enhance their productivity and sustainability.
Which primary segments of the big data analytics in agriculture market are driving growth and industry transformations?
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
Subsegments:
1) By Solution: Data Management And Storage Solutions, Data Visualization Tools, Predictive Analytics Solutions, Decision Support Systems, Cloud-Based Solutions, Farm Management Software
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Managed Services, Data Analysis And Reporting Services
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Which geographical regions are pioneering growth in the big data analytics in agriculture market?
North America was the largest region in the big data analytics in agriculture market in 2023. The regions covered in the big data analytics in agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the big data analytics in agriculture market landscape?
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
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What Is Covered In The Big Data Analytics In Agriculture Global Market Report?
•Market Size Forecast: Examine the big data analytics in agriculture market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the big data analytics in agriculture market for a structured understanding.
•Key Players Overview: Analyze major players in the big data analytics in agriculture market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the big data analytics in agriculture market.
•Segment Contributions: Evaluate how different segments drive overall growth in the big data analytics in agriculture market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the big data analytics in agriculture market.
•Industry Challenges: Identify potential risks and obstacles affecting the big data analytics in agriculture market.
•Competitive Landscape: Review strategic developments in the big data analytics in agriculture market, including expansions, agreements, and new product launches.
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