Digital Agriculture Market

Digital Agriculture Market Growth, Industry Analysis By Segmentations, Top Key Players, Rising Trends, Key Players and Future Opportunities Research Report 2033: SPER Market Research

Digital agriculture is all about utilising technology to increase the productivity, sustainability, and profitability of farming. It equips farmers with useful knowledge and tools to overcome obstacles and increase productivity, contributing to a more sustainable and secure supply of food in the future. 

According to SPER market research, Digital Agriculture Market Size- By Component, By Type, By Technology, By Operation, By Deployment, By Company Type, By Designation, By Application, By Offering – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Digital Agriculture Market is predicted to reach USD 55.40 billion by 2033 with a CAGR of 10.76%.  

The global digital agriculture market is driven by the need to feed a growing population, advancements in technology, climate change challenges, the availability of data and analytics, and the focus on sustainability. These factors are shaping the future of agriculture by making it more efficient, sustainable, and responsive to the needs of our changing world. 

Additionally, The global digital agriculture market faces a number of difficulties. The initial cost of putting digital technologies into use is a major obstacle. It can be expensive to buy these technologies, and additional infrastructure and training investments are also necessary. This presents a challenge for small-scale farmers who might lack the funding to implement digital agriculture practises. Farmers who are unfamiliar with or untrained in using such tools may also encounter difficulties due to the complexity of digital agriculture technologies. To effectively use and interpret the data produced by these technologies, one needs technical expertise. 

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Furthermore, the COVID-19 pandemic has had a significant impact on the global digital agriculture market. It disrupted global supply chains, affecting the transportation of agricultural products. The pandemic highlighted the importance of food security, leading to increased demand for digital agriculture solutions. However, challenges emerged regarding access and implementation, particularly for farmers in remote areas with limited internet connectivity and lacking the necessary resources. The economic impact of the pandemic also affected farmers’ ability to invest in digital agriculture. Despite these challenges, the pandemic fostered innovation and collaboration, with new solutions being developed and increased support from governments and organizations. Overall, COVID-19 affected the global digital agriculture market by disrupting supply chains, increasing demand, and revealing challenges while also driving innovation and support for the sector. 

Geographically, The Asia-Pacific (APAC) region is experiencing rapid expansion, with the agriculture sector’s modernization playing a significant role in driving its growth and success. 

Additionally, some of the market key players are Accenture, Ag Gateway, AGCO Corporation, Agreena, Agri Webb, AKVA Group, BASF SE, Bayer Crop science AG, CISCO Systems Inc., CropX Inc., Others. 

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Digital Agriculture Market Future Outlook

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Digital Agriculture Market

Digital Agriculture Market Size 2023- Future Challenges, Growth Opportunities, Demand, Share, Upcoming Trends and Forecast Research Report 2022-2032: SPER Market Research

Innovation in technology, decreasing wastage, and proficient usage of resources, yield maximization, and strategic governmental policy are growing awareness about digital agriculture and assisting in increasing adoption. These are some of the foremost trends in the global digital agriculture market owing to which the market is predicted to rise. The growing awareness about the benefits of digital agriculture in optimizing agricultural production has resulted in an inordinate boom in the agriculture market. With the increasing food requirement, due to the rising population, the adoption of digital agriculture tools is inevitable.

The increasing knowledge of the advantages of digital agriculture in advancing agricultural productivity resulted in a proficient augment in the agricultural market. With the growing food demand owing to population growth, farmers will be forced to utilize digital agriculture equipment. According to the SPER market research, ‘Digital Agriculture Market Size– By Component, By Type, By Technology, By Operation, By Deployment, By Company Type, By Designation, By Application, By Offering- Regional Outlook, Competitive Strategies and Segment Forecasts to 2032’ state that the Digital Agriculture Market is predicted to reach USD 49.92 billion by 2032 with a CAGR of 10.74%.

Strategic policymaking for precision farming by the regions is predicted to motivate farmers to adopt the connected technologies. Farm advisory services are connecting the gap between science and practice. These services assist farmers in implementing new innovative technologies, which is the newest trend in the market. They are more effective in exploiting accessible resources, are cost-effective, and can help face challenges.

Technological improvements and innovations are among the foremost factors driving the digital agriculture market, assisting farmers to maximize their yield and decrease losses with efficient usage of resources. Hence, the augmented need to encounter the demand of the increasing population, along with the restricted scarcity of natural resources, is anticipated to propel the market for digital farming globally throughout the forecast period.

In addition, an augmented population and a growing need for food security are generating a great requirement for digital agriculture across different regions. With the assistance of digitalization in the agricultural market, businesses are capable to communicate information beyond the predictable boundaries of their industries. Owing to digitization in the agricultural field, there is the initiation of new manners of work. These technological advancements have advanced the capacities of agriculture and the agricultural industries.

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North America registers the digital agriculture market owing to the increment in the initiatives taken by the government for the implementation of modern agriculture technologies and improved infrastructure. Furthermore, the occurrence of foremost key players will further foster the growth of the digital agriculture market around the region during the reviewed period.

Asia-Pacific is predicted to witness a significant amount of growth in the digital agriculture market owing to the different initiatives taken by the government in the advancing countries to motivate the application of current farming technologies. In addition, the farmers can also get enough information about how to handle and preserve precision farming equipment with the assistance of an operative administrative structure which is further predicted to foster the growth of the digital agriculture market around the region during the coming years.

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Digital Agriculture Market Future Outlook

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Digital Agriculture Market

Digital Agriculture Market Size, Share & Analysis By Product, By Technology, By Type, By Components, By Mode of Operation, By Application, By Region, Segments Forecast Till 2032: SPER Market Research

According to SPER Market Research, the Digital Agriculture Market is made up of companies, sole proprietors, and partnerships that sell digital agriculture goods and services. These goods and services are used to increase agricultural productivity, cut costs, stop soil erosion, use fewer chemicals when growing crops, and promote effective and efficient water management. The term “digital agriculture” describes the use of cutting-edge technology that have been integrated into an unified system to assist farmers and other participants in the agricultural value chain in increasing food production.

Artificial intelligence, Crop monitoring, and precision farming are the three primary strands of digital agriculture. Crop monitoring, which is an essential component of agricultural management, refers towards the digital agriculture system that closely analyses crop performance and growth during developmental phases.

Digital Agriculture Market Overview (2022-2032)

  • Forecast CAGR (2022-2032): 10.74%
  • Forecast Market Size (2032): 49.92 billion

The market for digital agriculture has been severely disrupted by the latest coronavirus epidemic. As a result of the COVID-19 epidemic, the digital agricultural sector has seen a minor dip in recent years due to movement restrictions and lockdowns that have disrupted supply chains and led to a lack of equipment. However, the application of farm management software and remote sensing techniques may result in a greater adoption rate in the years after COVID-19. The digital agricultural supply chain has been disrupted by COVID-19, and businesses are experimenting with fresh methods of electronic communication with growers and farmers.

Impact of COVID-19 on the Global Digital Agriculture Market 

The most recent coronavirus outbreak has significantly affected the market for digital agriculture. The COVID-19 pandemic has caused severe restrictions and shut downs that have interrupted supply chains and caused a shortage of equipment, which has caused a modest decline in the digital farming industry in recent years. However, in the years after COVID-19, the use of farm management solutions and remotely sensed data could lead to a higher adoption rate. COVID-19 has disrupted the digital agriculture supply chain, and companies are experimenting with novel ways to connect electronically with producers and farmers. On the positive side, corporations have started to place more of a focus on wireless platforms in the post-COVID-19 situation in order to give crop health monitoring, field mapping, harvesting management, irrigation scheduling, and real-time decision making in yield monitoring.

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Digital Agriculture Market Key Segments Covered

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.

By Component:

  • Hardware  Automation and Control Systems (Control Systems, Displays, Drones/UAVs, Flow and Application Control Devices, Global Positioning Systems, Guidance and Steering Systems, Handheld Mobile Devices/ Handheld Computers, Harvesters & Forwarders, HVAC Systems, Irrigation Controllers, LED Grow Lights, Robotics Hardware, Variable Rate Controllers, Others)
  • Sensing and Monitoring Device (Camera Systems, Climate Sensors, EC Sensors, pH and Dissolved Oxygen Sensors, RFID and Sensors for Precision Forestry, RFID tags & Readers for Livestock Monitoring, Sensors for Livestock Monitoring, Sensors for Smart Greenhouse, Soil Sensors, Temperature and Environmental Monitoring, Water Sensors Yield Monitor)
  • Services (Assistant Professional Services, Connectivity Services, Maintenance and Support Services, Managed Services, System Integration and Consulting)
  • Software (AI and Data Analytics, On-Cloud, On-Premises)

By Type: 

  • Artificial Intelligence
  • Crop Monitoring
  • Precision Farming

By Technology:

  • Core Technologies (AL-ML, Automation, Drones, Robotics)
  • Peripheral Technologies(Apps, Platforms)

By Operation:

  • Farming and feeding  (Precision Agriculture, Precision Animal Rearing and Feeding, Precision Aquaculture, Precision Forestry, Smart Greenhouse)
  • Marketing and Demand Generation
  • Monitoring
  • Scouting

By Deployment:

  • Cloud
  • On-Premise

By Company Type:

  • Tier 1-55%
  • Tier 2-20%
  • Tier 3-25%

By Designation:

  • C-Level Executives-40%
  • Directors-35%
  • Others-25%

By Application:

  • Crop Scouting
  • Farm Labor Management
  • Field Mapping Telematics
  • Inventory Management
  • Weather Tracking & Forecasting
  • Yield Monitoring
  • Others

By Offering:

  • Advisory services
  • Agri eCommerce
  • Digital Procurement
  • Financial services
  • Precision Agriculture and Farm Management
  • Quality Management and Traceability

By Region:

  • North America
  • Europe
  • Asia-Pacific

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Digital Agriculture Market Key Players:

The Global Digital Agriculture Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as;  Accenture, Ag Gateway, AGCO Corporation, Agreena, Agri Webb, AKVA Group, BASF SE, Bayer Crop science AG, CISCO Systems Inc., CropX Inc., Deere & Company, DeLaval, Digital Globe, DJI, DTN, Epicor Software Corporation, Eurofins Scientific, Farmers Business Network, Farmers Edge Inc., Gamaya, Hexagon AB, IBM Corporation, Monsanto Company, Precision Hawk, Raven Industries, Small Robot Company, Syngenta AG, Taranis, Telus agriculture, Trimble Inc., Vodafone Group Plc, Zemdirbių Konsultacijos UAB.

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Digital Agriculture Market Future Outlook

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