As per Intent Market Research, the Agriculture Analytics Market was valued at USD 1.62 billion in 2023-e and will surpass USD 3.85 billion by 2030; growing at a CAGR of 13.1% during 2024 - 2030. The surge in demand for integrating advance technology associated with every segment of the agriculture is driving market growth.

Agriculture analytics is a multidisciplinary program of agriculture and data analytics, in which precision agriculture (PA) is a farming management concept based on observing, measuring, and responding to inter- and intra-field variability in crops. Precision agriculture is also sometimes referred to as precision farming, satellite agriculture, as-needed farming, and site-specific crop management (SSCM).

Using data from their solar-powered Internet of Things (IoT) sensors and AI-powered satellite imagery, agriculture technology analytics developed a crop and soil management tool that reverses soil degradation by monitoring the soil's levels of nitrogen, phosphorus and potassium (NPK), moisture, fertility, and pH as well as early detection of crop pests and diseases. Through this data, the farmer can understand and start the healing journey of their soil.

Agriculture Analytics Market Dynamics

Rising Acceptance of Agriculture Analytics Despite Multiple Obstacles is Nurturing the Market Growth

Farmers in Europe and North America are at the forefront of global agricultural technology adoption, with approximately 61% currently utilizing or intending to implement at least one agtech product within the forthcoming two years.

The principal impediments to the adoption of farm-management systems for farmers in North America are elevated expenses and an ambiguous return on investment, with approximately 52% and 40% respectively. In contrast, European farmers, while also primarily concerned about high costs, cite the intricacies associated with installation and utilization as another substantial hindrance to adoption, with approximately 48% and 32% respectively. Farmers in South America, who have a 50% rate of agricultural technology adoption, demonstrate disparities in adoption rates across various countries within the region.

These farmers express the greatest apprehension regarding trust in online purchasing processes (33%). The lowest level of AgTech product adoption is observed in Asia, where only around 9% of farmers are using or planning to use at least one AgTech product; there is also variation in adoption rates among countries within this region.

Agriculture Analytics Market Segment Insights

Integration of Software for Agriculture Solutions is Raising Market Growth

In the digital era, technology emerges as a transformative force, offering Farm Management Software (FMS) as a powerful tool to navigate the complexities of modern agriculture, standing at 21%, closely followed by a 15% utilization rate of remote-sensing and precision agriculture hardware. Technologies related to sustainability, such as those that measure carbon emissions and sequestration, as well as those that monitor and optimize irrigation systems, along with automation and robotics technologies which are still in their nascent stages have a relatively low adoption rate of approximately 5%.

Source: Intent Market Research Analysis

Data Analytics and Big Data is Driving the Growth of Agriculture Analytics Market

Based on technology, the data analytics and big data segment is expected to grow at the highest CAGR during the forecast period. The potential for big data to revolutionize the agricultural sector is contingent upon the establishment of a cloud-based ecosystem equipped with appropriate tools and software capable of integrating diverse data sources. These tools must possess the capacity to consolidate data pertaining to climate, agronomy, water, farm equipment, supply chain, weeds, and nutrients, among other factors, in order to assist farmers in decision-making processes.

The utilization of big data and a cloud-based ecosystem can provide farmers with valuable insights that can enhance their farming practices. The amalgamation of various data sources empowers them to make informed decisions concerning crop management, resource allocation, and yield optimization which ultimately results in augmented productivity and profitability within the agricultural sector. Therefore, the data analytics and big data plays major role in market expansion over the period. 

Many Leading Companies Are Focusing on Precision Agriculture due to its Wide Use Which is Responsible for the Market Growth

The precision farming segment is expected to witness the highest growth during the forecast period. Nowadays, precision agriculture incorporates crop management software and technical equipment. Sensitivity-enabled equipment is also deployed on the fields to gather meticulous data on weather patterns, crop analysis, soil testing, and plot measurement for the precision agriculture practices.

Global market players are showing their interest in precision agriculture, and also noticing that government are funding in technology development for precision agriculture. In February 2024, the federal government unveiled a USD 42.5 billion initiative to bolster broadband access, with potentially transformative implications for agriculture and small businesses.

Regional Insights

Private-Government Partnership for the Development of Data Infrastructure in North America is Driving the Demand for Agriculture Analytics

Modernizing US agricultural data infrastructure will better equip farmers and the U.S. Department of Agriculture (USDA) with tools to adapt, innovate, and ensure a food-secure future given the increasingly dynamic conditions in which the sector operates. Growth in North America is concentrated on the agricultural data infrastructure, which can also be expedited by managing data through public-private partnerships. These partnerships offer the advantage of utilizing US government authorities for resources and data protection, as well as the private sector's flexibility in protecting proprietary information.

Competitive Landscape

Rising Attention by the Key Players and Startups for Agriculture 4.0 is driving the Agriculture Analytics Market

A lot of new and established businesses have been developing in recent years to help with agriculture 4.0 management in different ways. Artificial intelligence-driven predictive analytics, blockchain-based supply chain management, and drone-assisted crop monitoring have all revolutionized agricultural practices. By employing these new-age technologies, farmers and other stakeholders in the agricultural ecosystem can enhance operational efficiency, reduce wastage, ensure traceability, and elevate overall agricultural produce quality. Some of the companies operating in this market include Accenture, Ag Leader Technology, Agremo, AgriBotix, Agrivi, Bayer, Conservis, Deere & Company, DeLaval, DTN, Farmer's Business Network, Farmers Edge, Gamaya, Gro Intelligence, IBF Servizi, IBM, Microsoft, Oracle, Proagrica, Raven Industries, SAP, SAS, Stesalit Systems, Taranis, and Trimble.

Agriculture Analytics Market Coverage

The report provides key insights into the agriculture analytics market, and it focuses on technological developments, trends, and initiatives taken by the government. In this sector, the analysis delves into market drivers, restraints, opportunities, and other pertinent factors. The report also scrutinizes key players and the competitive landscape in the agriculture analytics market.

Report Scope