Big Data Analytics in Agriculture Market, Spurred by Rapid Urbanization & Industrialization Rates, Predicted to Register Strong Growth Till 2021
According to the market research report “Big Data Analytics in Agriculture: By Solution (Hardware, Software, Services) Application (Chemical, Weather, Financial, Crop Production, Farm Equipment) End-User (Farmers, Weather Forecast, Agricultural Regulatory Bodies, Agrochemical Industry)-Forecast(2016-2021)”, published by IndustryARC, estimates
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The Big Data Analytics in Agriculture Market deals with encouraging the collection and use of insightful data in normal, daily farming procedures. As innovative technologies like IoT, agricultural drones and cloud based data storage and crunching gain momentum, robots and even Artificial Intelligence are eventually expected to be common components in a successful harvest.
Big data agriculture largely created its reputation by promising to provide predictive and actionable insights in agricultural operations. As technology improved, big data farming expanded its scope to real-time analysis as well.
Overall, big data analytics in agriculture is anticipated to start a major revolution in current global food production and supply chains.
Scope & Regional Forecast of the Big Data Analytics in Agriculture Market
Farmers all over the world are a sceptical lot. They are tough to win over, especially when it comes to shiny metallic objects like drones which will roam over their produce.
But they are also getting squeezed from every direction. Being a farmer has never been more tougher than it is right now.
Population growth projections and strong urbanization as well as industrialization rates are expected to have a huge negative influence on farming in nearly every country. Climate change is yet another unpredictable, ever-growing threat which is expected wreck agricultural expectations and plans.
Out of all this doom and gloom, big data technologies have come forward to offer hope and a future where world hunger can be vanquished.
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But things have not exactly gone according to plan for agriculture data analysis in general. Farmers are inherently suspicious of digital devices and services.
They have also found the latest gadgets a tad too complicated to to understand and use during their daily chores on their farms. As crop prices keep falling, most of the agricultural sector is also reluctant to invest a significant amount of their savings on the Big Data Analytics in Agriculture Market.
And then there is the biggest question mark of all: what exactly can be gleaned from the vast amounts of information collected in and above fields of all kinds?
In an effort to overcome these obstacles, the key and creative players in big data agriculture are going about their operations in a different manner. Instead of pushing information to farmers, they are now promoting tools, like robotic equipment, and services, like gene editing.
These new variants have been found to bring about faster results. Despite such strides, technology’s promise is finding it hard to keep up the pressures and expectations.
Hence, the Big Data Analytics in Agriculture Market has plenty of potential to register great success during the forecast period, but has to overcome plenty of physical and mental obstacles to eventually get there.
Segmentations & Key Players Involved in the Big Data Analytics in Agriculture Market
The Big Data Analytics in Agriculture Market can be broken down into various segmentations on the basis of -
- Type of Analytics: Retrospective Analytics, Predictive Analytics and Prescriptive Analytics.
- Solution: Hardware, Software and Services (Support Services, Business Services, Others).
- Operation on Data: Capturing Data, Storing Data, Sharing Data, Analyzing Data and Others.
- Application: Chemical Analytics, Weather Analytics, Financial Analytics, Administrative Analytics, Crop Production Analytics, Social Analytics, Farm Land/ Equipment Analytics and Others.
- End-User: Farmers, Agriculture Regulatory Bodies, Weather Forecast, Agrochemical Industry, Farm Equipment Industry and Others.
- Geography: North America, South America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Big Data Analytics in Agriculture Market are as follows:
- Hewlett Packard Enterprise Development LP (U.S.)
- International Centre for Tropical Agriculture (Colombia)
- Intersystems Corporation (U.S.)
- Ntt Data Corporation (Japan)
- Koninklijke Philips N.V. (The Netherlands)
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* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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