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|
|Countries Covered||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.
Large-sized Farm to Witness the Fastest Market Growth
Based on the Farm Size, the agriculture analytics market segments into Small & Medium-sized Farms and Large-sized Farms. Between the two, the Large-sized Farm is likely to witness the fastest market growth in the forecast years. It owes to the rapidly increasing significance of making data-driven choices to grow profitability. Besides, the high spending capacity of large-sized farms on advanced technologies is another prominent factor increasing the growth rate of the segment. Furthermore, the massive investments & funding by various start-ups in the sector are developing the agriculture processes, thereby resulting in the overall segment growth in the forecast period.
Livestock Analytics Shall Attain the Largest Market Share
Amongst various available applications, the Livestock Analytics application shall attain the largest market share in the forecast years. The segment includes feeding management, breed management, heat-stress management, milk harvesting, behavior monitoring & management, etc. Livestock agriculture includes multiple tasks performed daily to generate data about animals. Therefore, farmers are advancing in analytics solutions to manage their livestock process for quality production, thereby propelling the overall market growth, states MarkNtel Advisors in their research report, “North America Agriculture Analytics Market Analysis, 2021.”
Canada Attains the Largest Market Share
Canada shall attain the largest market share in the forecast years owing to several factors. The country holds large farms with best-in-class farming equipment, thereby increasing the need for the adoption of agriculture analytics technology, and contributing exponentially to the growth of the agriculture analytics market. Moreover, Canada is likely to present lucrative opportunities for the agriculture analytics merchants due to the escalating investments in smart agriculture practices & implementation of cloud-based solutions among farmers. Hence, based on these aspects, the market shall attain an exponential share in Canada in the forecast years.
The most prominent market drivers include the rapidly growing adoption of agriculture analytics, which owes to the constant technological improvements & advanced infrastructure, and the surging usage of high-end farm equipment that allows agricultural investors to act toward the farming industry.
According to MarkNtel Advisors, the major leading players in the North America Agriculture Analytics Market are Harvest CROO Robotics, SkySquirrel Technologies Inc., aWhere, FarmShots, Abundant Robotics, Hortau Inc, Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. North America Agriculture Analytics Market is likely to grow at a CAGR of around 12% in the forecast period of 2021-26.
A. Harvest CROO Robotics, SkySquirrel Technologies Inc., aWhere, FarmShots, Abundant Robotics, Hortau Inc, Deere & Company, Trimble, AGCO Corporation, AgJunction, Raven Industries are a few of the leading players in the North AmericaAgriculture Analytics Market.
A. Large-sexed Farm is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Canada continues to grow at the highest CAGR in the forecast period of 2021-26, presenting immense opportunities for market players of the North America Agriculture Analytics Market.
A. The constant technological improvements, advanced infrastructure, and use of high-end farm equipment that allows agricultural investors to take action towards the farming industry are the most prominent factors that shall drive the Agriculture Analytics Market in North America in the forecast years.
A. The outbreak of the Covid-19 pandemic tremendously impacted the North America Agriculture Analytics Market. However, the need for massive capital investment to adopt modern agricultural technologies is likely to help the market recover and witness robust growth in the forecast period.