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
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.
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.
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.
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.
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.
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:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis