The digital farming software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Farming Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital farming software market size has grown rapidly in recent years. It will grow from $6.03 billion in 2023 to $7.02 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing demand for food security, increasing need for food security and sustainable agriculture, demand for more food production, problems presented by climate change, and need for sustainable agriculture.
The digital farming software market size is expected to see rapid growth in the next few years. It will grow to $12.97 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to government support and initiatives, cost savings and enhanced profitability, growth of agritech businesses, rising concerns over agriculture sustainability, and increasing demand for global food security owing to population growth and urbanization. Major trends in the forecast period include adoption of cloud-based platforms, integration of AI and machine learning technology to optimize farm management practices, development of mobile applications, integration of big data analytics, and advancements in sensor and IoT technologies.
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Scope Of Digital Farming Software Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Digital Farming Software Market Overview
Market Drivers –
The growing need for sustainable agriculture is expected to propel the growth of the digital farming software market going forward. Sustainable agriculture encompasses practices that aim to meet present food needs without compromising future generations’ ability to meet theirs. It includes organic farming, which avoids synthetic inputs to promote environmental health and biodiversity. The demand for sustainable agriculture is rising due to growing awareness of environmental impact, consumer preferences for healthier and ethically produced food, and the need to mitigate climate change and conserve natural resources. Digital farming software aids sustainable agriculture by optimizing resource use, monitoring crops, and soil health in real-time, enabling precision farming techniques like targeted irrigation and fertilizer application, and providing data-driven insights for informed decision-making. For instance, in February 2024, according to a report published by the Research Institute of Organic Agriculture, a Switzerland-based research institute, Africa had over 2.7 million hectares of certified organic agricultural land in 2022, marking a notable 4.9% growth of almost 128,000 hectares from the previous year. Therefore, the growing need for sustainable agriculture drives the growth of digital farming software.
Market Trends –
Major companies operating in the digital farming software market are focused on developing advanced solutions, such as artificial intelligence (AI)-powered agri-intelligence, to enhance precision farming practices and optimize agricultural productivity. AI-powered agri-intelligence utilizes AI technologies in agriculture to analyze data and offer insights that improve farming practices and productivity. For instance, in June 2022, Cropin, a US-based agriculture technology company, launched Cropin Cloud, the first purpose-built industry cloud for agriculture. Cropin Cloud integrates AI-powered agri-intelligence with accessible data sources to digitize agriculture. It supports secure, scalable solutions for agribusinesses and governments, enhancing decision-making with clean data pipelines and proven machine-learning models. Cropin Cloud is a versatile, safe, and scalable platform that drives digital transformation across agri-businesses, development agencies, governments, and related industries. It integrates various applications to digitize operations, ensure clean and contextual data pipelines, and enhance decision-making through advanced data analytics.
The digital farming software market covered in this report is segmented –
1) By Components: Software, Services
2) By Technology: Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity, Other Technologies
3) By Applications: Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management, Other Applications
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Regional Insights –
North America was the largest region in the digital farming software market in 2023. The regions covered in the digital farming software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the digital farming software market are Bayer AG, Deere & Company, Yara International ASA, Granular Inc., AGCO Corporation, CropX Inc., Trimble Inc., Topcon Positioning Systems, Inc., Raven Industries, Inc., Iteris Inc., Ag Leader Technology Inc., Taranis Visual Ltd., FarmWise Labs, Inc., Farmers Edge Inc., Agworld Pty Ltd, FieldIn Ltd., Agrian Inc., Farmobile LLC, FarmLogs Inc., AgJunction Inc., AgriWebb Pty Ltd., Prospera Technologies Ltd., SST Software, Arable labs Inc., Gamaya SA, VanderSat B.V., Farmwave LLC, CropIn Technology Solutions Pvt Ltd., FluroSat Pty Ltd
Table of Contents
1. Executive Summary
2. Digital Farming Software Market Report Structure
3. Digital Farming Software Market Trends And Strategies
4. Digital Farming Software Market – Macro Economic Scenario
5. Digital Farming Software Market Size And Growth
…..
27. Digital Farming Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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