Digital Agriculture Market Overview
Digital Agriculture Market size was valued at US$ 18.55 Bn. in 2023 and the total Digital Agriculture revenue is expected to grow at 10.24% from 2024 to 2030, reaching nearly US$ 36.71Bn.
The agricultural and food sector is confronted with a slew of issues. With a predicted worldwide population of nearly 9.5 billion people by 2050, there will be a considerable rise in food consumption. At the same time, natural resources such as fresh water and fertile land are becoming scarcer. Production isn’t the only issue; even though agricultural output is presently sufficient to feed the world, over 600 million people are victims of hunger. The rising rate of urbanization, for example, has significant ramifications for food demand and supply patterns. The agriculture industry continues to be vital to people’s livelihoods and jobs. There are over 560 million smaller farms in the world, and agriculture and food production employ 26.7% of the global workforce. The global report on the digital agriculture market is studied and analysed on the basis of the segments by type, application, management and region.
Digital Agriculture Market Report Scope and Research Methodology
Government regulations and guidelines are one of the main causes growth of digital agriculture market in many regions. These factors contribute to the creation of a favorable environment for competitive digital marketplaces and electronic services. There is also a tendency toward governments implementing e-services referred to as e-government particularly in the areas of health, education, the climate, and work. Designing and administering a digital government program, on the other hand, necessitates a high degree of administrative competence, and some nations have had mixed results. Developing countries frequently have the smallest capacity to handle the process. Success varies by sector, and in many nations, the agricultural industry falls behind, despite being key employment in rural regions.
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Digital Agriculture Market Regional Insights
The US Global Development Lab and the Bureau for Food Security partnered on Digital Development for Feed the Future program to show how using digital tools cohesively and according to guidelines can maximize cost-effectiveness and growth outcomes of the US Government’s Feed the Future Initiative (D2FTF). Feed the Future’s Digital Development team is expanding the use of these technologies through a variety of means, including technical help to Feed the Future programs, capacity development for Feed the Future teams, and enhancing the knowledge base on best practices. Based on proof of their effect, Feed the Future’s digital development is centered on four areas of digital tools: precision farming, financial technology services, info-driven farming, and ICT-equipped extensions.
Digital Agriculture Market Segmentation
By Type, the precision farming segment held the largest share of over 45% in the digital agriculture market in 2020. This segment is projected to grow at a CAGR of 13.6% in the forecast period. After the COVID-19 pandemic, the precision farming segment is expected to grow in the long run, as precision farming allows farmers to supervise the state of their crops while not being physically present in the field through the use of automation, reducing the need to contact other people, which is critical during these times. When opposed to traditional gardening practices, this farming is a strategy in which inputs are used in exact proportions to boost average yields.
Digital Agriculture Market Key Players
Case IH Agriculture
DTN
Conservis Corporation
Raven Industries
Topcon Positioning Systems
Gamaya SA
Easytosee Agtech
AGCO Corporation
Trimble Inc
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Key questions answered in the Digital Agriculture Market are:
- What is Digital Agriculture?
- What was the Digital Agriculture market size in 2023?
- What is the growth rate of the Digital Agriculture Market?
- Which are the factors expected to drive the Digital Agriculture market growth?
- What are the different segments of the Digital Agriculture Market?
- What growth strategies are the players considering to increase their presence in Digital Agriculture?
- What are the upcoming industry applications and trends for the Digital Agriculture Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Digital Agriculture Market?
- What segments are covered in the Digital Agriculture Market?
- Who are the leading companies and what are their portfolios in Digital Agriculture Market?
- What segments are covered in the Digital Agriculture Market?
- Who are the key players in the Digital Agriculture market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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