LONDON--(BUSINESS WIRE)--The global big data market in the agriculture sector 2018-2022 is expected to post a CAGR of close to 20% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing adoption of smart farming techniques. Digitalization has helped in improving the agriculture sector. Smart farming is one of the essential techniques of digitalization used in agriculture. Smart farming includes the use of several advanced technologies such as the IoT, big data, and connected devices in farming. It provides high-precision crop control, useful data collection, and automated farming.
This market research report on the global big data market in the agriculture sector 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing popularity of spatiotemporal big data analytics in agriculture as one of the key emerging trends in the global big data market in the agriculture sector:
Global big data market in the agriculture sector: Growing popularity of spatiotemporal big data analytics in agriculture
Big data analytics offers a wide range of opportunities for generating new hypotheses from large datasets, which are generally time-consuming and tedious for human researchers. In the supply chain analysis of food, it is important to understand the high-risk areas where failure can lead to severe implications.
“Spatiotemporal big data analytics is conducted using high-resolution satellite data to monitor crops on a large scale. It provides spatiotemporal hotspot detection that helps in identifying the risks in heavily localized plants, which are vulnerable to climate change and natural disasters. It also offers spatial optimization of land cover and land use allocation for agriculture,” says a senior market research analyst at Technavio.
Global big data market in the agriculture sector: Segmentation analysis
This market research report segments the global big data market in the agriculture sector by product (services and software) and geographical regions (APAC, EMEA, and the Americas).
The services segment held the largest market share in 2017, accounting for more than 58% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a share of close to 41%. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the global market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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