Digital Agriculture Market Industry Analysis, opportunities, Application and Forecast 2027
A slew of issues confront the agricultural and food sectors. With a predicted global population of nearly 9.5 billion people by 2050, food consumption will skyrocket. At the same time, natural resources like fresh water and fertile land are becoming increasingly scarce. Despite the fact that agricultural output is currently sufficient to feed the world, over 600 million people suffer from hunger. For example, rising urbanisation has significant implications for food demand and supply patterns. Agriculture is still important for people's livelihoods and jobs. Over 560 million small farms exist worldwide, and agriculture and food production employ 26.7% of the global workforce.
Digital Agriculture Market Scope:
The Digital Agriculture market is segmented in this Stellar Market Research report based on manufacturers, regions, product types, and application areas. A market's size can be calculated using its value, output, and consumption. This Stellar Market Research (SMR) report discusses distribution channels, Porter's Five Forces Report, market share, size, growth rate, future trends, market drivers, opportunities and challenges, risks, and entry barriers, among other things.
Digital Agriculture Market Overview:
The SMR Digital Agriculture Market report investigates the historical and projected growth of the upstream, midstream, and downstream industries. The market research study goes into great detail about the overall market size, revenue, and market segmentation. The SMR research takes into account a wide range of factors, including current market competition, potential growth barriers, key manufacturer profiles, and production and consumption by relevant areas.
Digital Agriculture Market size was valued at US$ 16.8 Bn. in 2020 and the total Digital Agriculture revenue is expected to grow at 10.24% through 2021 to 2027, reaching nearly US$ 33.24 Bn.
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Digital Agriculture Market Drivers:
Government regulations and guidelines are a major driver of growth in the digital agriculture market in many regions. These elements help to create a favourable environment for competitive digital marketplaces and electronic services. There is also a trend towards governments implementing e-services known as e-government, particularly in the areas of health, education, the environment, and employment. Designing and implementing a digital government programme, on the other hand, requires a high level of administrative expertise, and some countries have had mixed results. Developing countries frequently have the least capacity to deal with the situation. Success varies by sector, and despite being a key source of employment in rural areas, the agricultural industry lags in many countries.
Digital Agriculture Market Segmentation:
Precision farming had the largest share of the digital agriculture market by type, accounting for more than 45% in 2020. During the forecast period, this segment is expected to grow at a CAGR of 13.6%. Precision farming is expected to grow in the long run following the COVID-19 pandemic, as it allows farmers to supervise the state of their crops while not being physically present in the field through the use of automation, reducing the need to contact other people, which is critical during these times. This farming, as opposed to traditional gardening practises, is a strategy in which inputs are used in precise proportions to increase average yields.
These methods save time and money by reducing fertiliser and pesticide treatment costs, as well as pollution by reducing compound use. They also aid in the monitoring of soil and plant physical and chemical scenarios, such as electrical conductivity, temperature, evaporation and transpiration, radiation, and moisture, by placing sensors to measure parameters such as electrical properties, nitrates, temperature radiation, and leaves and soil moisture, in order to maintain optimal plant growth conditions. These elements contribute to higher production with a limited labour force during a pandemic situation with a labour shortage, ensuring a consistent supply of food and thus ensuring food security.
Predictive farming is analogous to taking medication to treat a specific condition. The solutions are highly personalised, from the type of crop suitable for a plot to the use of pesticides in specific areas. Precision farming reduces production costs and waste by tailoring to the unique needs of each plot. Precision farming makes use of analytical software and technical equipment. Soil testing, plot measuring, weather pattern analysis, and crop analysis are all done precisely with sensor-equipped devices strategically placed throughout the fields. To conclude, the data is calibrated, and a highly specific and accurate set of practises can be implemented based on the findings.
Key Players:
Case IH Agriculture
DTN
Conservis Corporation
Raven Industries
Topcon Positioning Systems
Gamaya SA
Easytosee Agtech
AGCO Corporation
Trimble Inc
AgEagle Aerial Systems Inc.
Bayer CropScience AG
Small Robot Company
Microsoft Corporation
IBM Corporation
Hummingbird Technologies Limited
Deere & Company
The SMR report also includes company profiles, product images and specifications, output and capacity figures, pricing and cost information, revenue information, and contact information for the Digital Agriculture market's leading players. It investigates the specifications for raw materials, machinery, and upstream and downstream processes.
Digital Agriculture Market Regional Analysis:
The Middle East and Africa, South America, North America, Asia Pacific, and Europe are the market's five geographical regions. Stellar Market Research covers all market sub-segments as well as major geographic divisions. In this SMR report, we investigate regional evolution in terms of market size, share, and volume. This Stellar Market Research Digital Agriculture industry report includes data, geographic breakdowns, and revenue, as well as an in-depth analysis of business chain structures, opportunities, and the most recent market news.
Key Questions answered in the Digital Agriculture Market Report are:
- Which product segment is expected to hold the largest share in the Digital Agriculture market?
- How is the competitive scenario of the Digital Agriculture market?
- Which are the key factors aiding the Digital Agriculture market growth?
- Which region holds the maximum share in the Digital Agriculture market?
- What is the expected CAGR of the Digital Agriculture market during the forecast period 2022-2029?
- Which application segment emerged as the leading segment in the Digital Agriculture market?
- Which are the major key players in the Digital Agriculture market?
- What key trends are expected to emerge in the Digital Agriculture market in the forecast period?
- What will be the Digital Agriculture market size by 2029?
- Which company held the largest share in the Digital Agriculture market?
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About Stellar Market Research:
In 2018, Stellar Market Research, an organisation based in India, was founded. Its area of expertise is long-term planning and consulting services to help clients meet their organisational transformation goals. The organisation uses its extensive network and in-depth knowledge of the industry to produce well-informed comments on reports that give clients a tactical edge. Customers have access to a market portfolio that will help their company establish a substantial presence, set long-term objectives, and carry out the necessary actions for remarkable growth and market dominance. Price changes, secondary market analysis, and customer buying habits are all carefully taken into account.
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