Study: Significant Opportunities For Big Data, Predictive Analytics Providers In Australian Precision Ag Market

The global precision agriculture market is currently at a nascent stage of growth. With the rise of tech savvy Gen Y and millennial farmers as well as the need for increased cost efficiencies associated with climate change, including water management and pollution control, Frost & Sullivan anticipates a substantial increase in precision agriculture over the next 5 years, especially in markets such as North America and Australia.

The Australian precision agriculture market accounted for approximately 7.2% of the global market share in 2015 and is forecast to increase its share over the next 5 years. Adoption of remote monitoring, Big Data, variable rate technology and farm management software will also drive the precision agriculture market.

Frost & Sullivan’s latest study, “Australian Precision Agriculture Market – Forecast to 2020,” finds that the market will reach A$508M by 2020. While growth will be moderate in 2016 and 2017, there will be steady increases through to 2020.

The precision agriculture market in Australia represents a significant opportunity for AgriTech companies such as AgDNA, PCT, Observant, Trimble, Ovass, The Yield, Software Objectives, Ninox Robotics, Falcon UAV, Drone AG, Swarm Farm and FarmBot.

Hardware sales currently dominate the bulk of the Australian precision agriculture market revenues. However, as the market matures, service and support revenues, along with communication revenues, will gain market share.

“Information and communication technologies play an important role in precision agriculture as communication solutions providers are a critical link in ensuring that data gathered from the farm is transmitted for further analysis,” noted Audrey William, Head of Research, ICT Practice, Frost & Sullivan Australia & New Zealand. “Due to the remote location of farms, most of this data and the necessary analytic platforms are hosted in the cloud. The game changer for the market will be in successfully leveraging powerful artificial intelligence platforms in order to make relevant recommendations based on predictive analysis.”

Big Data and artificial intelligence will play an important role in the precision agriculture landscape, incorporating intelligent systems such as drones and driverless tractors. The farm equipment, livestock, and crop management sectors will be amongst the first to adopt precision agriculture solutions in Australia.

“Broadacre cropping technology is the most widely used in the Australian agriculture industry, in particular global navigation satellite system (GNSS)-enabled guidance/auto steering solutions,” said Dev Anand Dorasamy, Research Analyst, Industrial Practice, Frost & Sullivan Australia & New Zealand. “Automation type precision agriculture solutions are currently employed mainly in irrigation. However they will play an important role in the farms of the future, where direct labour input will be minimised and much of the farm management will be done remotely.”

“The establishment on an open data protocol for easy sharing and integration of data from various sources will be critical for the Australian agriculture market to unlock the value of farm generated data,” added Dorasamy.

“Australian Precision Agriculture Market – Forecast to 2020” report is part of the Frost & Sullivan Australian Digital Transformation Research program. All research services included in this subscription provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. For queries and more information please send an e-mail with your contact details to David Hymers, Frost & Sullivan Australia, at [email protected].

Leave a Reply

One comment on “Study: Significant Opportunities For Big Data, Predictive Analytics Providers In Australian Precision Ag Market

  1. Hi Mr David,
    I am Khanh from Ho Chi Minh City, Viet Nam, I see Technology about Precision Agri is very necessary in the fulture, so i want to learn about this technoloy. Could you consult for me about this course in Australia ? I hope soon receive email from you.
    Thank you very much.
    Khanh Ngo Minh

Australia/New Zealand Stories
AgQuip overview
Australia/New ZealandAgquip 2018: Precision Ag Technology Is Key During a Drought
August 27, 2018
While Eastern Australia is in a crippling drought that has prevented much of New South Wales (NSW) and Queensland to Read More
Rod Weimer and Paul Schrimpf
Australia/New ZealandPast Recipients Of The PrecisionAg Awards Of Excellence
July 31, 2018
Since 2007, the PrecisionAg Insititute has sponsored the annual Awards of Excellence program. Here's a list of the past winners. Read More
Australian Harvest
Australia/New ZealandAustralian Agritech Plants Blockchain for Efficiency
July 11, 2018
“Agritech” at one time would have meant new equipment such as tractors and combine harvesters, but today it refers to Read More
Farmers Edge Truck
Australia/New ZealandFarmers Edge, Nufarm Partner in Australia
June 27, 2018
Farmers Edge announced on Wednesday it will partner with Nufarm Limited in Australia to distribute its precision ag products and Read More
Trending Articles
Sensors
Sensors/IoTThe Answer to Agriculture’s Daunting Challenges – Soil Sensors
September 20, 2018
According to the United Nations, 9.6 billion people will live on planet Earth by 2050. Feeding these mouths will require Read More
Soil-Hand
Data ManagementAre You Using Your Soil to Its Full Potential?
September 14, 2018
Harvest is progressing across most parts of the U.S. and those growers who aren’t already harvesting are gearing up to Read More
Grower-Retailer
Imagery/SensingAgtech: 10 Things I Hate About You!
September 4, 2018
Before you get bent out of shape from the title, remember if you’ve read my articles before you know I Read More
Kansas State University
Industry NewsKansas State University, Topcon Form Precision Ag Research Partnership
August 30, 2018
Kansas State University and Topcon Agriculture are collaborating to develop tools and systems to advance precision agriculture and support farmers. Read More
Blockchain building block graphic
Specialty CropsIs Blockchain the Future of Food Safety?
August 24, 2018
When the Internet Protocol Suite (TCP/IP) was standardized in 1982, permitting the worldwide proliferation of interconnected networks and eventually the Read More
WinField’s Joel Wipperfurth On Empowering Data-Driven Decisions
InfoAg ConferenceOne on One with Joel Wipperfurth, Winfield United
August 15, 2018
Winfield United's Joel Wipperfurth discusses ag technology trends and topics during last month’s InfoAg Conference. Read More
Latest News
Satellite
AmericasArgentina Bets on $600m Satellite to Boost Agriculture …
September 25, 2018
Argentina is launching a new microwave imaging satellite to monitor natural disasters and soil moisture, in a long-term bid to Read More
AmericasFarmers Edge Announces New Retail-Facing Precision Ag P…
September 25, 2018
Farmers Edge announced the launch of a new solution designed exclusively for agricultural professionals to enhance their relationships with customers Read More
FIRA
EventsAgricultural Robotics Take Center Stage at FIRA 2018
September 24, 2018
The future of agricultural innovation will continue to rely heavily on collaboration and exchange of ideas among all industry players. Read More
Corn field sunset
Decision Support SoftwareLand O’Lakes SUSTAIN Launches Ambitious Digital S…
September 24, 2018
Land O’Lakes SUSTAIN today announced its plan to roll out the Truterra Insights Engine, an interactive on-farm digital platform that Read More
Business ManagementIvy Tech, Farmers Partner to Help Precision Ag Educatio…
September 20, 2018
Harvest time has taken on a new meaning for some Wabash Valley farmers, and Bobbi Hunt-Kincaid hopes her family’s first Read More
Sensors
Sensors/IoTThe Answer to Agriculture’s Daunting Challenges – Soil …
September 20, 2018
According to the United Nations, 9.6 billion people will live on planet Earth by 2050. Feeding these mouths will require Read More
Google-Earth-Map-featured-image
Data ManagementRainfall Revisited: Accurate Observations and Beyond
September 18, 2018
As a provider of weather analysis and forecast services to the agricultural industry, one of the most common questions I Read More
PenelopeNagel
Business ManagementWhy Is Funding a Challenge for Women-Led Agtech Compani…
September 17, 2018
When it comes to women-led agtech companies the funding discussion never seems to cease. In June after the The New Read More
Mobile Phone in field
Decision Support SoftwareWhy Are 570 Million Farmers Not Yet Using Agricultural …
September 17, 2018
Until recently, using agricultural apps and software was a rare practice among growers. This is now changing. The mass adoption Read More
Soil-Hand
Data ManagementAre You Using Your Soil to Its Full Potential?
September 14, 2018
Harvest is progressing across most parts of the U.S. and those growers who aren’t already harvesting are gearing up to Read More
Grower Services & SolutionsDeere-Granular Collaboration Produces New Profit Maps T…
September 14, 2018
The newest development from the ongoing John Deere-Granular product development and marketing collaboration is Profit Maps, now available to farmers Read More
Wingtra
DronesOpinion: Combining Two Pluses with the WingtraOne UAV
September 13, 2018
For the every-day consumer interested in UAVs, there is an ocean of products from which to choose. This includes the Read More
Farmer-tablet
AsiaShould Agri-Input Manufacturers Outsource E-Commerce to…
September 12, 2018
Editor’s note: Venky Ramachandran is a contributing writer for PrecisionAg.com’s sister site, AgriBusinessGlobal.com. This article was originally published on LinkedIn. Now, Read More
ICON-Link-Licensing_featured-image
Industry NewsValley Irrigation Adds Remote Irrigation Management Opt…
September 11, 2018
Valley Irrigation, an industry leader in smart irrigation solutions, has announced enhancements to its remote management technologies. Multi-Year Licensing In Read More
Reflex-Connect-Agri-Inject-featured-image
Variable Rate ApplicationVariable Rate Fertigation System Expands with Mobile Co…
September 10, 2018
Building on the success of its Reflex Variable Rate Fertigation system, Agri-Inject has taken fluid injection to the next level Read More
Industry NewsTeralytic Earns Ag Data Transparent Certification
September 10, 2018
Soil analytics company Teralytic has completed the Ag Data Transparent certification, affirming that their data use is private, secure, and Read More
Business ManagementTop 20 Two-Year Colleges for Precision Agriculture
September 10, 2018
Earlier this year, I compiled a list of the 25 best colleges for precision agriculture. It was quite the process. Read More
Industry NewsRaven, Topcon Announce Slingshot API Agreement
September 6, 2018
Raven Industries and Topcon Agriculture announced today a licensing agreement for Topcon Agriculture’s use of the Slingshot Application Programming Interface Read More