16.1%+ Growth for Agriculture Analytics Market Size Raising to USD 1,991.6 Million By 2026 | PMR

According to a new market research report Agriculture Analytics Market Share, Size, Trends, Industry Analysis Report By Application Area (Farm Analytics, Livestock Analytics, and Aquaculture Analytics); Component (Solution and Services); Farm Size (Small, Medium Sized, and Large); By Regions, Segments & Forecast, 2020 – 2026. Published by Polaris Market Research.The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market Overview

The global agriculture analytics market was valued at USD 698.8 million in 2019 and is is expected to reach USD 1,991.6 million by 2026 to exhibit a CAGR of 16.1% over the forecast period (2020-2026). Increasing pressure to satisfy the increasing global demand for food in combination with the need to enhance farm productivity also contributes to the application of agricultural analytics and the growth of the agricultural analytics sector. Agricultural digitization is anticipated to assist feed the increasing population. It is anticipated that the global population will rise by about 40% and reach 9.6 million by 2050. Therefore, to satisfy the increasing demand for food, the general food production requires to double. The present production rate, process, and distribution technique would not be adequate to feed the increasing population; therefore, it is anticipated that the implementation of fresh and advanced technology at different stages of farming will become essential to satisfy the increasing demand.

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Large farms held the largest market share in the global market in 2019. Because of the affordability and high economies of scale, the implementation of agricultural analytics solution in big farms is greater than that of small and medium-sized farms. The increasingly competitive landscape and the need to satisfy worldwide food demands inspire them to turn to the solution and services of agricultural analytics to improve the use of resources for better manufacturing. Large farm size carries out high-level company activities that produce big amounts of data. Providers of agricultural analytics services assist big farms manage and use the information efficiently for maximum production.

Regional Analysis:

Over the forecast period, North America is anticipated to dominate the global market for agricultural. This development is due to the increasing implementation of sophisticated farming machinery and is probable to stimulate the development of the worldwide agricultural analytics industry. However, Asia Pacific is anticipated to give the agricultural analytics market numerous favorable avenues for development.

Key Segments:

Application Area – Farm Analytics, Livestock Analytics, Aquaculture Analytics
Component – Solution, Services
Farm Size – Small, Medium, Large

Key Regions:

North America (U.S., Canada), Europe (UK, Germany, France, Italy), Asia Pacific (China, India, Japan, Australia), Latin America (Brazil, Mexico), MEA (Saudi Arabia, South)

Key Companies:

Accenture, Agribotix, Agrivi, Agvue Technologies, Awhere, Conservis Corporation, Deere & Company, Delaval, DTN, Farmers Business Network, Farmers Edge, Geosys, Granular, Gro Intelligence, IBM, Iteris, Monsanto Company, Oracle, Precisionhawk, Proagrica, Resson, SAP, Stesalit, Taranis, and Trimble

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Source: https://www.marketwatch.com/press-release/161-growth-for-agriculture-analytics-market-size-raising-to-usd-19916-million-by-2026-pmr-2020-03-03