Smart farming is a part of agriculture analytics, which is also the breakthrough application of science and technology across agriculture. Agriculture analytics is the adoption of technologies such as Big Data, IoT, and other analytics tools in the agricultural field. The major growth driver for the agriculture analytics market is government initiatives for deploying modern agricultural techniques. Additionally, rising pressure for meeting the growing demand for food globally coupled with the need for improving productivity from farms are resulting in the adoption of the agriculture analytics and driving growth of the agriculture analytics market.
Core research components enunciated in the report, which offers key prompts on key players in the agriculture analytics market. In addition, it offers key information on new and existing market players operating in the agriculture analytics market, which are investing extensively. The report on the agriculture analytics market focuses on the macro and microeconomic factors, which are reflecting on the growth of the agriculture analytics market.
Global Agriculture Analytics Market: Drivers and Restraints
The growing focus on profitability from the agribusiness is adopting agriculture analytics for effective analysis and for critical farm-related data for better decision making is driving growth of the global agriculture analytics market. Several factors such as weather parameters, fertilizer application, soil condition, and seed variety are affecting the crop yield. This complicates the identification of ideal products for improving productivity. Thus, the adoption of agriculture analytics for analyzing this data is growing, which is stimulating the growth of the global agriculture analytics market.
Additionally, the growing need for livestock management, which increases pressure on the farmers and can lead to the miss-management, is encouraging the growth of the global agriculture analytics market. In order to eliminate risks of this miss-management and growing need for tracking animals is also favoring the growth of the global agriculture analytics market.
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Furthermore, growing adoption of agriculture analytics across large farms due to its affordability and skills of enhancing profitability is boosting agriculture analytics market. Across large farm, high-level business operations are conducted which generate large information and agriculture analytics service providers’ help for this data management. Thus, the market is witnessing growth and likely to remain a key driving factor for the growth of the agriculture analytics market.
Global Agriculture Analytics Market: Geographical Analysis
Based on the region, the agriculture analytics market is segmented into five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is expected to dominate the global agriculture analytics market over the forecast period. This growth is attributable to the growing adoption of the advanced farming equipment and likely to propel growth of the global agriculture analytics market. However, Asia Pacific is expected to offer numerous lucrative opportunities for growth of the agriculture analytics market.