Agriculture industry is undergoing policy reforms in almost every part of the world. Hence, new initiatives of production systems are being attempted in the form of contract farming or corporate farming. Big data analytics and processing is the collection of large and intricate data series which are generally difficult to process using common database management tools. Big data in agriculture is becoming a crucial aspect and accounts for nearly 5% of the market share of the entire big data industry. Big data analytics in the agriculture sector, in the near future, is anticipated to turn out to be the fifth largest industry in terms of market share. This market is projected to reach $XX billion by 2021 from $XX billion in 2015, growing at a CAGR of XX% during the forecast period.
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The big data in agriculture market has been analyzed with respect to different parameters such as operation on data, end-user and type of solutions. This market has been categorized by end-user and application. On the basis of end-users the market is segmented into farmers, agriculture regulatory bodies, and weather forecast, agrochemical and farm equipment industries.
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. North America held the major share in the big data in agriculture market in 2015 due to large number of companies applying big data results to predict the perfect conditions for the perfect crop. Market players are focusing on new technology and working on introducing new parameters so as to gain maximum efficiency to entice the agricultural sector. Asia Pacific is estimated to be the fastest growing region during 2016-2021. China and India holds the major share in the big data in agriculture market in APAC region due to rapid growth in the big data sector and its application on various parameters of the farming industry.
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Major companies operating in the big data for agriculture market include:
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- Hewlett Packard Enterprise Development LP (U.S.)
- International Centre for Tropical Agriculture (Colombia)
- NTT Data Corporation (Japan)
- Pricewaterhouse Coopers (U.K.)
- Intersystems Corporation (U.S.)
- Koninklijke Philips N.V (The Netherlands)
- Deere and Company (U.S.)
- Monsanto Company (U.S.).
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