The growing trend of digitization and risk assessment and rising demand to improve agricultural supply chain management due to the COVID-19 pandemic driving the adoption of the agriculture analytics market.
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Increasing use of data by farmers to know more about their farms, and crops driving the adoption of managed services segment of agriculture analytics platforms during the forecast period
The growing need to outsource field related operation owing to a shortage of labor is expected to drive the growth of the managed services in the agriculture analytics market. Managed service providers use their powerful analytical tools to collect, process, and analyze data to provide valuable insights to farmers. By these actionable insights, farmers can forecast their crop production, improve crop cultivation, and make better decisions.
Rising need to secure data by large farms to drive the demand for on-premises to hold a larger market size
Data security concerns among the end-users is contributing to the higher adoption of on-premises agriculture analytics solution globally. The on-premised agricultural analytics solution is majorly deployed by the large farms as it has better ability to invest. Moreover, large farms have wide variety of business segment with serving to broader geographical reason; hence data security is of utmost importance
North America to dominate the market during the forecast period
North America is estimated to account for the largest share of the market in 2018. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. The majority of farmers or growers in the region have deployed agriculture analytics solutions to optimize livestock, farms, orchid, forestry, horticulture and aquaculture farming. Moreover, the North American region exhibits a wide presence of key industry players offering agriculture analytics solutions and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.
The major vendors offering agriculture analytics solutions are Deere & Company (US), IBM (US), SAP SE (Germany), Monsanto (US), Oracle (US), Accenture (Ireland), Iteris (US), Taranis (Israel), Agribotix (US), Agrivi (UK), DTN (US), aWhere (US), Conservis Corporation (US), DeLaval (Sweden), FBN (US), Farmers Edge (US), GEOSYS (US), Granular (US), Gro Intelligence (US), Proagrica (UK), PrecisionHawk (US), RESSON (Canada), Stesalit Systems (India), AgVue Technologies (US), Fasal (India), AGEYE Technologies (US), HelioPas AI (Baden-Württemberg), OneSoil (Belarus), and Root AI (US).
Deere & Company and IBM are leading players in Agriculture Analytics Market
Deere & Company is popularly recognized as John Deere worldwide. The company, along with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. In the agricultural segment, the company offers various products such as display systems, guidance and machine control systems, and field and crop systems. The company operates mainly through 3 segments-Agriculture and Turf, Construction and Forestry, and Financial Services. The company has a strong brand name and a well-established distribution network in every continent, which makes it one of the market leaders. The company has presence in approximately 44 countries worldwide, including Canada, Mexico, the US, and Argentina. The companys major subsidiaries include Gan-Gvat Assets Ltd. (Israel), John Deere GmbH (Germany), Jenco Wholesale Nurseries, Inc. (US), John Deere S.A. (Mexico), and John Deere Agricultural Machinery Co. Ltd. (China). Some of the its major competitors are AGCO Corporation (US), Ag Leader (US), Achway Lawnmowers (UK), Caterpillar Inc. (US), Kubota Corporation (Japan), and CNH Global N.V. (Netherlands). In the agriculture analytics market, the company offers Precision Ag Technology, which deals with data management, remote management, guidance, variable rate application, and field and water management.
IBM is a multinational technology and consulting corporation that offers infrastructure, hosting, and consulting services. As of December 31, 2019, IBMs total employee strength, including that of its wholly-owned subsidiaries, was 352,600. The company operates through five major business segments: cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM offers mobile and web analytics solution to set up and manage mobile and web so apps can access live and historical data. IBM caters to various industries that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. Furthermore, the company offers Watson Decision platform and precision farming solutions. The precision farming solutions include 3 baseline services, namely, high-definition Normalized Difference Vegetation Index (NDVI), soil moisture, and plant pathology. The solutions help customers analyze real-time data, improve the yield, and minimize risks. The company has a robust presence in the Americas, Europe, MEA, and APAC, and has clients in more than 175 countries.
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