Embedded Files
Digital Farming Market
The Digital Farming Market was estimated around USD 4,724 million in 2019 and is predicted to grow at a CAGR of 12% over the forecast period (2020-2027).
The factors driving the growth of Digital Farming Market includes rise in the consumption of food grains, vegetables, and fruits, growing adoption of drones and smart Corp sensors in the farming process and rising emphasis on reducing the use of chemicals to produce food. According to the report published by Statista, the Vegetables Market in India is predicted to reach USD 87.81 billion by the end of 2022, expanding at a CAGR of 8.72% over the forecast period (2022-2027), which will boost the market growth in the approaching years. The rising popularity of precision farming, growing use of advanced technologies such as Artificial Intelligence (AI), Big Data and Internet of Things (IoT) by the farmers, shortage of labor around the world and improvements in the internet connectivity, are some of the additional factors supplementing the market growth. As per the Digital Farming Market Analysis, the rising smartphone penetration rates, increasing investments by leading players on research and development, rapid urbanization, and growing population growth rates, are the factors propelling the market growth.
Request a free sample of this report
However, the growth of Digital Farming Market is hindered due to insufficient knowledge amongst farmers about the use of digital farming techniques.
The major players operating in the Digital Farming Market are Vodafone Group PLC, Trimble Inc., Salt Mobile SA, Epicor Software Corporation, Accenture, Deere & Company, IBM, and Hexagon among others.
Component: Segment Analysis
Based on Component, the Hardware segment is estimated to capture the largest market share during the forecast period attributed to increasing application of hardware in monitoring devices and control systems.
Application: Segment Analysis
Based on Application, the Precision Farming segment is expected to expand at a remarkable CAGR over the forecast period. The precision farming prevents soil degradation, increases the crop yield, efficiently uses water resource coupled with growing demand for food across the globe, are some of the factors responsible for the segment’s’ growth.
Regional: Segment Analysis
Based on Region, the North American region is anticipated to grow at a significant CAGR during the forecast period. The growing adoption of precision farming methods, technological advancements in the digital farming techniques, rising demand for fruits and vegetables, high per disposable incomes and increasing population growth rates, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Digital Farming Market by Component
Hardware
Software
Others
Global Digital Farming Market by Application
Precision Farming
Live Stock Monitoring
Green House Farming
Others
Global Digital Farming Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/
Page updated
Google Sites
Report abuse