Big Data Analytics in Agriculture Market Report 2024

The big data analytics in agriculture market size has grown rapidly in recent years. It will grow from $1.15 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth during the historic period can be attributed to various factors such as shifting weather patterns, soil health, crop yields, pest and disease outbreaks, technological adoption, market prices, and water usage.

The big data analytics in agriculture market size is expected to see rapid growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The anticipated growth in the forecast period can be linked to climate change, technological advancements, population increase, regulatory changes, sustainability practices, pest and disease management, and resource availability. Key trends expected in this period include precision agriculture, smart irrigation systems, automated machinery, drone technology, genetic modification, data-driven decision-making, and blockchain for supply chain management.

The increasing adoption of precision farming is expected to drive the growth of big data analytics in the agriculture market. Precision farming is an agricultural management approach that uses technology to optimize crop production and efficiency by closely monitoring and responding to variations in field conditions. This method is gaining popularity due to its ability to boost productivity, lower input costs, and reduce environmental impact through targeted resource application. Big data analytics supports precision farming by analyzing vast amounts of data to provide insights for precise decision-making in crop management. For instance, a report published by the United States Department of Agriculture in August 2023 indicated that the average adoption of precision agriculture in the US increased from 25% in 2021 to 27% in 2023. North Dakota leads with an adoption rate of 57%, followed by states such as Illinois, Iowa, Kansas, Nebraska, and South Dakota, each with rates of 49% or higher. Thus, the growing adoption of precision farming is set to boost the growth of big data analytics in the agriculture market.

Major companies in the big data analytics agriculture market are forming strategic partnerships to enhance AI, machine learning, and market reach. A strategic partnership is a collaborative relationship where organizations combine resources, expertise, and efforts to achieve common goals. For example, in September 2023, Agrematch, an Israeli biotechnology and AI company, partnered with ICL Group Ltd., an Israeli agrochemical manufacturer, to advance AI in searching for biostimulants to optimize agriculture. This collaboration aims to maximize crop yields, improve resource efficiency, and promote sustainable farming practices by providing farmers with precise, data-driven recommendations for using fertilizers and other inputs. Agrematch leverages data science and AI, using advanced machine and deep learning algorithms, a proprietary database, and integrating these technologies with expertise in biology, chemistry, and agriculture. They have developed a robust AI predictive platform to drive innovation, reduce environmental impact, and support farmers in improving productivity and sustainability.

In October 2023, Ever.Ag, a U.S.-based agricultural software provider, acquired Austin Data Labs for an undisclosed amount. This acquisition aims to enhance Ever.Ag's agricultural software solutions with advanced data analytics capabilities to optimize supply chain management and promote sustainability in global food systems. Austin Data Labs is a U.S.-based data analytics solutions company for the agricultural sector.

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.

North America was the largest region in the big data analytics in agriculture market in 2023. 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.

The countries covered in the big data analytics in agriculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Big data analytics in agriculture involves gathering, processing, and analyzing large amounts of data from various agricultural sources such as weather, soil, crop health, and machinery. This process helps make informed decisions, optimize farming practices, improve crop yields, and enhance overall farm productivity. It supports precise decision-making, which leads to optimized resource usage, increased crop yields, cost reduction, and improved sustainability.

The primary components of big data analytics in agriculture include solutions and services. Solutions refer to the software and platforms that facilitate data collection, storage, analysis, and visualization, enabling farmers and agribusinesses to make data-driven decisions for better efficiency and productivity. These components are categorized into data capturing, storing, sharing, analyzing, and other applications across chemical, financial, weather, farm equipment, and crop production sectors.

The big data analytics in agriculture market research report is one of a series of new reports that provides big data analytics in agriculture market statistics, including big data analytics in agriculture industry global market size, regional shares, competitors with an big data analytics in agriculture market share, detailed big data analytics in agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the big data analytics in agriculture industry. This big data analytics in agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The big data analytics in agriculture market consists of revenues earned by entities by providing services such as predictive analytics, precision farming, remote sensing, crop monitoring, and data-driven decision support systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The big data analytics in agriculture market also includes sales of sensors, drones, GPS devices, IoT-enabled equipment, data management platforms, and advanced analytics software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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