According to MarkNtel Advisors’ research report, “North America Agriculture Analytics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 12% in the forecast period of 2021-26 due to the rapid technological advancements and accelerating adoption of advanced farming practices. Moreover, the increasing government initiatives to expand modern agricultural techniques and the rising pressure to meet the food demand are other critical factors likely to fuel the overall market growth in the forecast period.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Key Companies Profiled||Harvest CROO Robotics, SkySquirrel Technologies Inc., aWhere Inc., FarmShots, Abundant Robotics, Hortau Inc, Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The outbreak of the Covid-19 pandemic negatively impacted the North American Agriculture Analytics Market. With strict limitations and lockdown imposed by the government, the supply chain and exports fluctuated, further leading to severe financial losses. Nevertheless, with the gradual upliftment of restrictions, the market shall regain its pace in the forecast years. The need for massive capital investment to adopt modern technologies of agricultural activities could also help in the market recovery and the growth of the agriculture analytics market in the years to come.