Global Digital Farming Market by Component (Hardware, Software, Others), By Application (Precision Farming, Live Stock Monitoring, Green House Farming, Others), By Region, Global Forecast to 2025
Published:
January 2020
Report Code:
BWC19388
Available Format:
PDF PDF Icon
Pages:
210

global digital farming market bwc19388

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Global Digital Farming Market: An Overview

Digital farming or digital agriculture is the implementation of IT in agriculture, and it involves applications connected to machinery and other digital agriculture technologies. Digital farming is used to improve overall farm production employing advanced digital technology. The involvement of digital technology in farming is an evolution in the agriculture sector and has positively impacted the sustainability and efficiency of the farms. Digital farming covers the use of biology and technology together to help farms to do precise farming.

The global digital farming market is expected to be valued worth USD 10.23 billion by 2025. According to BlueWeave Consulting, it is expected to register a CAGR of 14.2 per cent over the forecasted period. Increasing demand for specialized equipment such as sensing devices, automation, and control system, and antennas, and access points is expected to drive the growth of the market in the forecasted period. In 2019, bio-engineering, imagery and sensors, big data and robotics and automation have supported the expansion process for the global digital farming market.

Global Digital Farming Market: Market Dynamics

The global digital farming market is expected to grow over the forecasted period owing to factors such as rising world population, rapidly decreasing arable land, growing global population, rising need for effective agriculture, increasing penetration of advanced technologies in agriculture sector coupled with the growing need for high production of grains and vegetables. Also, the increasing population of green farming across the globe is also pushing for the growth of the digital farming market. Rising demand for quality crops in the amount to meet the growing need for grains and vegetables has been a significant factor leading to the adoption of digital farming solutions in the fields by the farmers to improve the productivity of arable lands.

The growing number of applications for telematics in agriculture is expected to drive the demand for digital farming over the forecasted period. Telematics services include the usage of tracking devices such as the Global Navigation Satellite System (GNSS) to locate the position of the equipment for management purposes. The increasing adoption of new technologies and advanced devices for digital farming is expected to drive the growth of the market. Increasing demand for managed services is another contributing factor to the expansion of the digital farming market. Smart farming could be a long term answer to the growing population in developing countries as well as to the demand of the ever-increasing digital farming market. Smart farming technology also facilitates the efficient use of resources such as water, land, seed, and fertilizers, improving the overall quality and quality of farm yield.

Global Digital Farming Market: Market Segmentation

Based on Component, the Global Digital Farming Market can be classified as hardware, software. On the basis of Application, the market can be segregated as Precision Farming, Live Stock Monitoring, Green House Farming, and others. In 2019, precision farming contributed the largest to the market owing to factors such as increasing global food demand, crop health monitoring to yield higher production and extended profitability. Green House farming is expected to emerge as another key segment in the global digital farming market due to rising global warming.

Global Digital Farming Market: Regional Landscape

Geographically, the presence of the global digital farming market can be witnessed in five major regions, including Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. In 2020, North America accounted for the largest share in the global digital farming market and is expected to dominate the market in the forecasted period. The growth of the region can be attributed to factors such as high investment in research and development in advanced agriculture techniques and the presence of major players in digital farming solutions in the region.

Global Digital Farming Market: Key Market Players

Vodafone Group PLC, Cisco Systems Inc., Trimble Navigation Ltd., Salt Mobile SA, Accenture PLC, Deere & Co., IBM Corporation, Epicor Software Corporation and Hexagone AB are few of the key market players in the global digital farming market.

Business Questions Answer by the Report

·         How will the market drivers, restraints and opportunities affect the market dynamics?

·         What will be the market size in terms of value and volume and market statistics with a detailed classification?

·         Which segment dominates the market or region and one will be the fastest growing and why?

·         A comprehensive survey of the competitive landscape and the market participant players.

·         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority and that’s why BlueWeave Consulting offers customization according to company’s specific needs. The following customization options are available for the report:

Additional Company Information

·         With five additional company detail analysis

·         Additional country analysis

·         Detailed segment analysis

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