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Precision Farming Gains Momentum Fueling Big Data Analytics Boom In Agriculture: Transformative Forces Shaping the Big Data Analytics In Agriculture Market Landscape in 2025
Big Data Analytics In Agriculture Market
What Is the Expected CAGR for the Big Data Analytics In Agriculture Market Through 2025?
The market size for big data analytics in agriculture has seen swift expansion in the past few years. It is projected to escalate from a value of $1.3 billion in 2024 to $1.46 billion in 2025, with a compound annual growth rate (CAGR) of 12.5%. The surge in the historical phase can be linked to fluctuations in weather patterns, the health of the soil, crop outputs, pest and disease occurrences, uptake of technology, market valuations, and consumption of water.
What's the Projected Size of the Global Big Data Analytics In Agriculture Market by 2029?
The market size for big data analytics in agriculture is anticipated to witness swift expansion in the upcoming years, escalating to $2.32 billion by 2029 with a compound annual growth rate (CAGR) of 12.3%. Factors contributing to growth during the projected period include climate variation, technological progression, population increase, amendments in regulations, sustainability measures, management of pests and diseases, and the availability of resources. Dominant trends for the prospective period encompass precision farming, intelligent irrigation systems, automatic machinery, drone innovations, genetic alterations, decisions influenced by data, and the usage of blockchain for managing supply chains.
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Top Growth Drivers in the Big Data Analytics In Agriculture Industry: What's Accelerating the Market?
The escalating uptake of precision farming is predicted to boost the expansion of big data analytics within the agricultural sector. Precision farming, a method that deploys technology to maximize crop yield and effectiveness by closely monitoring field conditions, is gaining popularity due to its potential to boost productivity, cut operating costs, and reduce environmental harm through the targeted use of resources. Big data analytics plays a crucial role in this process, analyzing large sets of agricultural data to inform precise decisions on crop management tactics. For instance, per a report from the United States Department of Agriculture released in August 2023, the average usage of agricultural precision in the United States saw an increase from 25% in 2021 to 27% in 2023. North Dakota reported the highest adoption rate at 57%, with other states including Illinois, Iowa, Kansas, Nebraska, and South Dakota each reporting rates of 49% or more. Consequently, the rising popularity of precision farming is expected to stimulate the development of big data analytics within the agricultural industry.
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What Trends Will Shape the Big Data Analytics In Agriculture Market Through 2029 and Beyond?
Major firms involved in the agricultural big data analytics market are fostering strategic alliances to improve AI, machine learning, and market penetration. A strategic alliance usually implies a cooperative affiliation between two or more entities, merging their resources, know-how, and initiatives for shared aims or targets. For example, in September 2023, Agrematch., an Israel-based biotech research and AI business, partnered with ICL Group Ltd., an agrochemical manufacturing firm also based in Israel, to introduce cutting-edge AI for exploring bio-stimulants to boost agriculture. The goal of this partnership is to ramp up crop yield, increase resource efficiency, and advocate for eco-friendly farming methods by offering farmers accurate, data-led advice on utilizing fertilizers and other agricultural elements. Agrematch capitalizes on data science and artificial intelligence, utilizing sophisticated machine and deep learning (ML/DL) algorithms together with their exclusive database and blending these technologies with proficiency in biology, chemistry, and agriculture. They've constructed a powerful AI predictive platform to propel innovation, lessen environmental footprint, and equip farmers with the resources and insights to enhance their productivity and sustainability.
What Are the Main Segments in the Big Data Analytics In Agriculture Market?
The big data analytics in agriculturemarket 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 Top Companies are Driving Growth in the Big Data Analytics In Agriculture Market?
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
Which Regions Will Dominate the Big Data Analytics In Agriculture Market Through 2029?
North America was the largest region in the big data analytics in agriculture market in 2024. 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.
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