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Big Data Analytics In Agriculture Global market Size Trends, Growth, and Outlook 2024-2033
Big Data Analytics In Agriculture Global Market Size Trends, Growth, and Outlook 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, August 27, 2024 /EINPresswire / -- The big data analytics in agriculture market has experienced robust growth in recent years, expanding from $1.15 billion in 2023 to $1.30 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to changing weather patterns, soil health, crop yields, pest and disease outbreaks, technological adoption, market prices, and water usage.
Strong Future Growth Anticipated
The big data analytics in agriculture market is projected to continue its strong growth, reaching $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to climate change, technological advances, population growth, regulatory changes, sustainability practices, pest and disease management, and resource availability.
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Growth Driver Of The Big Data Analytics In Agriculture Market
The increasing adoption of precision farming is expected to propel the growth of big data analytics in the agriculture market going forward. Precision farming is an agricultural management refers to approach that utilizes technology to optimize crop production and efficiency by closely monitoring and responding to variability in field conditions. Precision farming is gaining traction due to its ability to enhance productivity, reduce input costs, and minimize environmental impact through targeted application of resources. Big data analytics in agriculture supports precision farming by analyzing vast amounts of farming data to provide insights for precise decision-making in crop management practices.
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Major Players And Market Trends
Key players in the big data analytics in agriculture market include BASF SE, International Business Machines Corporation (IBM), Deere & Company (John Deere), SAP SE, Bayer AG, Yara International ASA.
Major companies operating in big data analytics in the agriculture market are adopting a strategic partnership approach to enhance AI, machine learning, and market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations combining their resources, expertise, and efforts to achieve common goals or objectives.
Segments:
1) By Component: Solution, Services
2) By Type: Capturing Data, Storing Data, Sharing Data, Analyzing Data, Other Types
3) By Application: Chemical, Financial, Weather, Farm Equipment, Crop Production
Geographical Insights: North America Leading The Market
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.
Big Data Analytics In Agriculture Market Definition
Big data analytics in agriculture refers to the process of collecting, processing, and analyzing large volumes of data from various agricultural sources (e.g., weather, soil, crop health, and machinery) to make informed decisions, optimize farming practices, improve crop yields, and enhance overall farm productivity. It enables precise decision-making, leading to optimized resource usage, improved crop yields, reduced costs, and enhanced sustainability.
Big Data Analytics In Agriculture Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Big Data Analytics In Agriculture Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on big data analytics in agriculture market size, big data analytics in agriculture market drivers and trends, big data analytics in agriculture market major players, big data analytics in agriculture competitors' revenues, big data analytics in agriculture market positioning, and big data analytics in agriculture market growth across geographies. The big data analytics in agriculture market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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