The global demand for Digital Agriculture Market is presumed to reach the market size of nearly USD 52.4 BN by 2030 from USD 11.89 BN in 2022 with a CAGR of 20.37% under the study period 2023 - 2030.
Digital agriculture is an agricultural activity that gathers, store, analyze, and distribute electronic data and information along the agricultural value chain in a digital format. Smart farming and e-agricultural are other terms for digital agriculture. Operators must comprehend and utilize digital agriculture technology to eliminate delays in sowing, ploughing, irrigation, and product delivery to market.
Market Dynamics
The scarcity of labour, combined with rising food demand, is the primary driver of the worldwide digital agricultural market. As the world's population expands, so does the demand for more food, which necessitates more production at a lower cost in an environment with limited resources. In addition, the demand for digital agricultural solutions is being bolstered by a growing shortage of farmworkers due to urbanization in search of a reliable source of income. In addition, as natural resources such as water become rarer and the climate changes, like the greenhouse effect, demand for digital agriculture to maximize resource efficiency and productivity grows, propelling the market ahead. Increased use of technology and electrical devices in agriculture could open up new opportunities for the market to grow. However, individuals' lack of technical understanding, on the other hand, may stifle market expansion.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of digital agriculture. The growth and trends of digital agriculture industry provide a holistic approach to this study.
Market Segmentation
This section of the digital agriculture market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component Type
- Hardware
- Software
- Services
By Application
- Precision Farming
- Live Stock Monitoring
- Green House Farming
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Digital Agriculture market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Digital Agriculture Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the digital agriculture market include Monsanto, and IBM. Farmers Edge, SAP, FarmCrowdy, Eka, Bayer, Cargill, Yara International, BASF, Delta and Pine Land, and Sunkist Growers. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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