Digital agriculture market is anticipated to grow at a CAGR of 9.6% during the forecast period. Precision farming is an approach to farm management that uses information technology (IT) to ensure that crops and soil receive exactly what they require for optimum health and productivity. The growing adoption of precision farming is pushing market players to offer new solutions and services to their customers which are expected to boost the market growth during the forecast period. For instance, in March 2022, Agribazaar launched a remote sensing crop model to aid in precision farming naturally. Currently, the services are being offered to over three lakh farmers registered with Agribazaar. Further, the Government of India has chosen Agribazaar as one of the partners alongside Microsoft India for its India agri-stack program, which will widely use this technology. The benefits associated with precision farming such as ensuring profitability, sustainability, and protection of the environment are further contributing to the growth of the market.
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Among the component segment, the hardware segment is expected to hold a considerable share in the market during the forecast period. The market players are continuously implementing new methods to bring innovative products and services to their customers. The market players are launching agricultural robots to increase efficiency and productivity. For instance, in February 2022, Verdant Robotics launched its multi-action autonomous farm robot for specialty crops which enables “superhuman farming”. The farm robot meets farmers’ demand for more sustainable and profitable growing practices. The company expanded its robot-as-a-service (RaaS) model to ensure access for more specialty crop farmers. Thus, the efforts by market players to launch innovative products are driving the growth of the market during the forecast period.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Digital Agriculture Market Report Segment
By Component
- Hardware
- Software & Services
By Deployment
- Cloud
- On-Premise
By Application
- Yield Monitoring
- Field Mapping
- Livestock Monitoring
- Real-Time Safety Testing
- Soil Monitoring
- Precision Farming
- Others (Drone Analytics, Inventory Management)
Global Digital Agriculture Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital agriculture market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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