Agriculture Analytics Market - By Offering (Software, Services), By Farm Size (Small & Medium Farms, Large Farms), By Application (Livestock Farming, Aquaculture Farming, Precision Farming, Conventional Farming), By Technology & Forecast, 2024 – 2032

Agriculture Analytics Market - By Offering (Software, Services), By Farm Size (Small & Medium Farms, Large Farms), By Application (Livestock Farming, Aquaculture Farming, Precision Farming, Conventional Farming), By Technology & Forecast, 2024 – 2032

Agriculture Analytics Market Size

Agriculture Analytics Market was valued at USD 2.3 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032. The market is expanding owing to the growing adoption of precision farming, government support, food security concerns, technological advancements, environmental sustainability, and increasing investments. Precision farming involves the use of analytics and data to manage farming practices efficiently. This technology enhances crop yields, optimizes input usage, and improves farm management.

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For instance, in April 2024, the U.S. Department of Agriculture reported a 25% increase in the adoption of precision farming techniques among farmers in the U.S. over the past three years. It highlighted that precision farming is significantly improving productivity and resource management in agriculture.

Governments worldwide are providing subsidies and support for the adoption of advanced agricultural technologies, including analytics. These initiatives aim to boost agricultural productivity and sustainability. For instance, in January 2024, the European Commission announced a USD 1.07 billion subsidy program for digital agriculture, which focuses on analytics tools to enhance farm productivity and sustainability. This initiative is part of the EU's common agricultural policy for 2024-2027.
 

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Implementing advanced analytics Software can be expensive, including costs for hardware, software, and training. Many small-scale farmers find it difficult to justify these investments due to uncertain returns on investment. Many rural areas, where agriculture is predominant, suffer from limited internet connectivity and infrastructure. This hampers the deployment and effectiveness of cloud-based analytics software. Also, farmers’ concerns about data privacy and the security of their agricultural data may limit adoption.

Agriculture Analytics Market Trends

The adoption of agricultural analytics is driven by technological advancements and changing market demands. The latest trends include the integration of AI and ML, blockchain for supply-chain transparency, cloud-based analytics, data-driven sustainability practices, and real-time analytics with IoT. There is a growing emphasis on using analytics to promote sustainable farming practices. It reduces the environmental impact and complies with sustainability standards. In February 2024, the Food and Agriculture Organization (FAO) highlighted that data-driven approaches in agricultural analytics led to a 25% reduction in water usage in pilot projects in arid regions by optimizing irrigation practices. It helps to mitigate the impact of climate change.

The global demand for food is increasing due to population growth. Analytics help farmers increase crop yields and manage resources more effectively, contributing to food security. In May 2024, the FAO released a report that highlighted that advanced analytics in agriculture have contributed to a 15% increase in crop yields globally over the past decade, helping tackle food security challenges.

Agriculture Analytics Market Analysis

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Based on offering, the market is divided into Software and services. In 2023, the software segment accounted for a market share of over 73%. Agriculture analytics Software encompasses a variety of offerings designed to optimize farming practices through data-driven insights. Software in agricultural analytics includes platforms for data management, visualization, predictive analytics, and farm management systems. These tools are used to analyze data on crop health, weather conditions, and soil quality. In March 2024, the USDA announced a partnership with Microsoft to develop a cloud-based analytics software platform. It aimed to provide farmers with real-time insights into crop conditions and weather forecasts, improving decision-making and resource management.

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Based on farm size, the market is categorized into large farms and small & medium farms. The small & medium farms segment is expected to reach over USD 2.5 billion by 2032. The adoption of agricultural analytics among small and medium-sized farms is growing as these farms seek to enhance productivity, sustainability, and profitability through data-driven insights. Mobile-based applications are becoming increasingly popular for small farms due to their accessibility and ease of use. These apps provide on-the-go access to analytics tools, enabling farmers to make real-time decisions. In March 2024, the FAO highlighted the impact of mobile apps in its report on digital agriculture, noting a 40% increase in productivity among smallholder farmers using mobile analytics apps in pilot projects. Agriculture analytics helps smallholder farmers in decision-making and resource management.

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In 2023, North America held a share of around 32% of the market. The agriculture analytics market in North America is driven by technological advancements, government initiatives, and the need for sustainable and efficient farming practices. The integration of advanced technologies, such as AI, ML, IoT, and blockchain, into agricultural analytics has gained significant traction in the region. These technologies are enhancing precision farming and data-driven decision-making. In February 2024, the USDA launched an AI-powered analytics platform to support precision agriculture, aiming to optimize crop management and improve yield predictions through advanced data analysis.

North America, particularly the U.S. and Canada, is adopting advanced technologies and making substantial investments in agricultural innovations. Continuous advancements in technology and increased investments in R&D are driving innovations in agricultural analytics in the region. In May 2024, the National Institute of Food and Agriculture awarded USD 50 million in research grants for the development of advanced analytics tools to support data-driven agriculture.

APAC countries, such as India, Japan, China, Indonesia, and Australia, are adopting advanced farming technologies. The integration of IoT devices with big data analytics is gaining traction in APAC. These technologies enable farmers to collect and analyze real-time data on crop conditions, weather patterns, and soil health. In February 2024, Japan’s Ministry of Agriculture, Forestry, and Fisheries reported the success of its Smart Agriculture Program, which integrates IoT sensors and big data analytics. This improved crop yield predictions by 30% and reduced water usage by 25% in pilot regions.

Agriculture Analytics Market Share

Bayer and Corteva Agriscience dominate the market with around 6% market share. AGCO has been actively integrating precision farming technologies and analytics into its equipment to enable farmers to optimize their operations. The company's precision agriculture software includes data-driven tools for field mapping, variable rate technology, and yield monitoring systems. These analytics tools help farmers make informed decisions regarding seeding rates, fertilizer applications, and crop health management.

Corteva Agriscience has a strong emphasis on digital agriculture. It offers a range of analytics tools and platforms aimed at improving farm management practices. The company's digital software includes predictive analytics for crop planning, weather forecasting tools, and field monitoring systems. Corteva integrates data from various sources to deliver actionable insights that help farmers optimize inputs and enhance yield potential.

Agriculture Analytics Market Companies

Major players operating in the agriculture analytics industry are

• AGCO Corporation
• Bayer
• Corteva Agriscience
• DeLaval
• SAP SE
• Taranis
• Trimble

Agriculture Analytics Industry News

• In March 2024, Bayer Global piloted a generative AI-powered virtual assistant for crop management. According to a corporate announcement, the tool is made for farmers worldwide and provides prompt solutions to inquiries about agronomy and Bayer agricultural products. The system was constructed from internal Bayer data and was created in partnership with Ernst & Young and Microsoft.
• In February 2024, UNEP highlighted the role of data analytics in reducing the environmental footprint of agriculture by optimizing resource use and monitoring ecological impacts. There is a growing need to adopt sustainable farming practices to mitigate the impact of climate change, and hence analytics helps to monitor and manage environmental impacts.

The agriculture analytics market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments

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Market, By Offering

• Software
• Services
  • Professional
  • Managed

Market, By Farm Size

• Large farms
• Small & medium farms

Market, By Application

• Livestock farming
• Aquaculture farming
• Precision farming
• Conventional farming
• Others

Market, By Technology

• Livestock analytics
  • Yield mapping
  • Field monitoring
  • Weather tracking
  • Others
• Supply chain analytics
• Farm analytics
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • UAE
  • South Africa
  • Saudi Arabia
  • Rest of MEA