The Global digital agriculture market value which was around USD 14.15 billion in 2022, is expected to reach the value of approximately USD 29.49 billion by 2028, registering a CAGR of 10.15% during the forecast period.
Farmers are under increasing pressure to produce more food and animal feed with fewer pesticides. It is becoming increasingly challenging to feed the growing population as a result of population growth. The strain on agricultural production has increased. The agricultural industry will benefit from the usage of Internet of Things solutions along with precise agriculture software. Digital agricultural instruments are being used more frequently, and they assist in monitoring the development of the crops through the use of sensors that detect the temperature and soil quality of the fields.
These programs are being used by farmers to study the climate for the growth of different crops. Following the pandemic, agriculture is using digital platforms much like all the other industries. The investments in and inventions for digital agriculture are rising. The dependency on digitization is growing, which is improving the lives of many farmers around the world.
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The agriculture market has expanded as a result of a greater understanding of how digital agriculture may improve the optimization of agricultural production. Numerous farmers have started using these computerized agricultural instruments as a result of rising food demand brought on by population growth. Strategic policymaking is used in several nations to encourage farmers to adopt these new technologies. Numerous farm consulting services assist farmers in implementing these cutting-edge technology, allowing them to be more effective in using the resources that are very cost-effective and aid in overcoming problems. These programs can aid farmers in increasing their productivity and reducing losses.
Digital agriculture is in high demand across various locations due to rising population and a growing need for food security. Businesses are able to convey information outside the traditional borders of their sectors thanks to digitalization in the agricultural industry. New ways of employment are being introduced in the agricultural sector as a result of digitization. These technical developments have increased agriculture’s and the agricultural industries’ capabilities.
Top Key Players of Global Digital Agriculture Market:
Microsoft
Monsanto
IBM
SAP
Climate Corporation
Eka
Digital Agriculture Services Pty Ltd
Farmers Edge
FarmCrowdy
and Agrofy.
The Digital Agriculture Market – Segmentation
The global Digital Agriculture Platform Market based on Business Channel is segregated into:
Business to business (B2B)
Business to Customer (B2C)
The global Digital Agriculture Platform Market based on Product Type is categorized into:
Perishables
Non Perishables
Agri Raw Materials
Market Segmented by Region:
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia-Pacific (China, Japan, Australia, Malaysia, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
The Digital Agriculture Market – Growth Factors
The agriculture sector’s development via technology & digitalization has been identified as a feasible solution to some of the challenges facing the global food system in light of the increase in food demand. Different agricultural industry suppliers want to gain access to regional or global supply chains and improve distribution. Additionally, customers desire better price transparency, faster access to product information, and food tracking. Digital platforms have been developed to suit all market demands in the agricultural sector. An enormous increase in investment is being made in this sector as the digital agriculture industry develops. The existence of numerous unicorns, each with a sizable investment, highlights the significance of tech-driven agriculture. Digital agriculture marketplaces can be anticipated to battle for global domination in the upcoming year as companies expand outside their home markets. The lack of technological expertise among people is another factor that is anticipated to restrain the development of the digital agriculture market over the forecast period. The quick standardization process, however, may present further difficulties for the development of the digital agriculture sector in the near future.
