Global Agriculture Analytics Market projected to grow to USD 4.38 billion by 2033

From GlobeNewswire: 2024-07-23 08:00:00

The Global Agriculture Analytics Market is projected to grow from USD 1.3 billion in 2023 to USD 4.38 billion by 2033, with a CAGR of 12.92%. Technologies like cloud computing and AI are being used to enhance farming operations in response to the increasing global demand for food. The adoption of agro-analytics technology is crucial as the agricultural industry faces challenges like urbanization and climate change. Agriculture analytics solutions improve decision-making for farmers, leading to increased production and efficiency.

Farmland owners are under pressure to increase food supply due to population growth and challenges like shifting weather patterns. Implementing analytical farm solutions with technology like drones and GPS helps farmers make better decisions and improve overall efficiency in agricultural practices. The lack of understanding among farmers poses a challenge to the adoption of agriculture analytics but also presents growth opportunities for educating and training farmers on the use of these technologies.

The service segment is expected to hold the largest share of the global agriculture analytics market, with farmers’ lack of awareness contributing to the growth in this sector. Livestock farming is projected to grow rapidly in the agriculture analytics market, benefiting from real-time data collection on animal health and management. On-premises deployment mode is predicted to lead the market, driven by concerns about data security and the use of sophisticated technology in agriculture.

North America is expected to dominate the global agriculture analytics market due to well-established infrastructure facilitating the integration of analytical services seamlessly. Awareness of the benefits of sensor and analytics technologies is increasing among North American farmers, driving the adoption of these solutions to enhance farm yields and efficiency. In contrast, Asia Pacific is anticipated to grow at the fastest CAGR in the global agriculture analytics market, driven by population growth and increased food demand necessitating advanced analytical solutions in farming operations.



Read more at GlobeNewswire: Global Agriculture Analytics Market Size To Worth USD 4.38