Market Overview:
The Global Digital Agriculture Market size is expected to grow from USD 18 billion in 2022 to USD 41.48 billion by 2030, at a CAGR of 11% during the forecast period (2023-2030).
Digital Agriculture also known as e-agriculture or smart farming is a tool that collects, stores, analyzes, and shares electronic data and information in agriculture digitally. It is the integration of digital technology into crop management and livestock and other processes related to managing food resources and cultivating activities. Digital agriculture includes precision agriculture. Unlike precision agriculture, digital agriculture impacts the entire agri-food value chain before, during, or after on-farm production. Therefore, on-farm technologies, like yield mapping, GPS guidance systems, and variable-rate applications, fall under the domain of precision agriculture and digital agriculture.
Top Key Players for Digital Agriculture Market:
Deere & Company (U.S.), IBM Corporation(U.S.), CNH Industrial (U.S.), Microsoft Corporation (U.S.), AGCO Corporation (U.S.), Raven Industries (U.S.), COFCO International (Switzerland), Agrofy (South Africa),Eden Farm (Indonesia), HummingBird Technologies (England), Cranswick PLC (U.K) and Other Major Key Players.
Market Dynamics and Factors for Digital Agriculture Market:
Drivers:
Increasing Awareness of Digital Agriculture’s Benefits
The increasing awareness among the general public about the benefits of digital agriculture in boosting crop yield has significantly driven the growth of the market for digital agriculture products and services. As the global population continues to grow, there is a rising demand for food, leading farmers to swiftly adopt digital agriculture technologies to meet these increasing requirements. In response to this trend, governments have taken proactive measures by implementing strategic policies that promote precision farming and encourage farmers to embrace associated technologies.
Opportunities:
Increasing Pressure for Higher Productivity and Improved Crop Health
Farmers face continuous pressure to enhance food and animal feed production while reducing chemical usage. Simultaneously, they must optimize energy and labor resources and improve environmental land and water management. The increasing global population further intensifies the challenge of feeding more people. In response to these demands, precision farming software and Internet of Things (IoT) tools have emerged as effective solutions, addressing these needs comprehensively.
Segmentation Analysis of the Digital Agriculture Market:
- By Type, Crop monitoring is the process of regularly observing and assessing the condition and growth of crops throughout their growth cycle. It involves the use of various technologies and techniques to collect data about the crops, such as their health, growth rate, and environmental conditions.
- By Technology, Peripheral technology, also known as peripheral devices or peripherals, refers to external hardware devices that connect to a computer or other main computing device to expand its capabilities and functionalities. These devices serve as input and output interfaces, enabling users to interact with the computer and enhance its performance for specific tasks.
Regional Analysis of the Digital Agriculture Market:
Asia Pacific is Expected to Dominate the Market Over the Forecast period. Recent years have seen a revolutionary shift in the adoption of smart farming techniques in the Chinese agricultural sector. Although sensor-based technologies, such as Internet of Things (IoT) cellular devices, gear tooth sensor-based irrigation and fertilization equipment, and valve position sensors, among others, are still relatively new in the field, the nation has recently seen a rise in the demand for sensors, largely as a result of the farmers' adoption of more sophisticated agricultural techniques and a higher rate of mechanization.
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
Key Industry Development:
In November 2022, AGCO Corporation launched a brand new online tool called Geo-Bird to help farmers around the world independently plan and optimize their global navigation satellite system (GNSS) machine guidance lines.
In October 2021, CNH Industrial launched an innovative platform named AGXTEND for digital agriculture solutions in Brazil. AGXTEND develops and provides ground-breaking technologies that allow farmers to extend their efficiency, and sustainability of agribusiness by precision farming, and thereby their economic success.
