Global Digital Agriculture Market, By Type (Crop Monitoring, Artificial Intelligence, Precision Farming), Company Type (Tier 1-55 %, Tier 2-20%, Tier 3-25%), Designation (C-Level Executives-40%, Directors -35%, Others-25%), Applications (Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management, Others) - Industry Trends and Forecast to 2031.
Digital Agriculture Market Analysis and Size
Farmers are using digital agriculture tools to track the progress of crops in real-time, such as sensors that record the soil condition and temperature when placed on the fields, computer applications such as climate field view, a tool that is programmed to create farming maps and yield maps, and other similar applications. The use of digital technology in agriculture aids in the dissemination of information from suppliers to workers and vice versa, as a result, it aids in the development of strategic partnerships between stakeholders by providing access to training, financial services, and legal services.
Data Bridge Market Research analyzes that the global digital agriculture market is expected to reach USD 34.54 billion by 2031, which is USD 15.89 billion in 2023, registering a CAGR of 10.20% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Digital Agriculture Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2021 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Crop Monitoring, Artificial Intelligence, Precision Farming), Company Type (Tier 1-55 %, Tier 2-20%, Tier 3-25%), Designation (C-Level Executives-40%, Directors -35%, Others-25%), Applications (Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Peru, Rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Kuwait, Egypt, Rest of Middle East & Africa
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Market Players Covered
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DTN (U.S.), Farmers Edge Inc. (Canada), Taranis (U.S.), Eurofins Scientific (Luxembourg), AgriWebb (Australia), Monsanto Company (U.S.), Bayer AG (Germany), Deere & Company. (U.S.), Accenture (Ireland), Syngenta AG (Switzerland), AgGateway (U.S.), CropX inc. (U.S.), Farmers Business Network (U.S.), BASF SE (Germany), DigitalGlobe (U.S.)
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Market Opportunities
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Market Definition
Digital farming software is the programmed tools which are developed to optimize and manage farm operations and production activities. The software helps to automate various farm activities such as record management, data storage, monitoring and streamline production activities. Digital farming software maximize yield and revenue related to crops and others using data-driven insights.
Global Digital Agriculture Market Dynamics
Drivers
- Precision Farming Advancements
Precision agriculture technologies, such as GPS-guided tractors and drones, are driving the digital agriculture market. These technologies enable farmers to optimize resource use, increase crop yields, and reduce production costs, making them a compelling driver for industry growth.
- Demand for Food Security
The global population is growing, and there is an increasing need to produce more food with limited arable land. Digital agriculture technologies offer solutions for efficient crop management and monitoring, helping meet the demand for food security and sustainable agricultural practices.
Opportunity
- Data-Driven Decision-Making
The vast amount of data collected through digital agriculture tools provides opportunities for data analytics and insights. Companies can offer data analytics services to farmers, enabling them to make informed decisions regarding crop management, pest control, and resource allocation.
Restraints/Challenges
- High Initial Investment
The adoption of digital agriculture technologies often involves a significant initial investment in equipment, software, and training. This cost can be a barrier for smaller or resource-constrained farmers, slowing down market penetration.
- Data Privacy and Security Concerns
The collection and sharing of sensitive farm data, such as crop yields and soil conditions, raise concerns about data privacy and security. Addressing these issues and building trust among farmers and stakeholders is a critical challenge for the digital agriculture market.
This digital agriculture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital agriculture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In November 2020, TELUS Agriculture, one of the leading participants in the farm industry, announced the launch of a new business unit that will deliver creative and advanced solutions to help the agriculture industry become more digitalized and connected. The service will assist in data analysis and production, efficiency, and better food outcomes.
Global Digital Agriculture Market Scope
The digital agriculture market is segmented on the basis of type, company type, designation and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Crop Monitoring
- Artificial Intelligence
- Precision Farming
Company Type
- Tier 1-55 %
- Tier 2-20%
- Tier 3-25%
Designation
- C-Level Executives-40%
- Directors -35%
- Others-25%
Applications
- Field Mapping
- Crop Scouting
- Weather Tracking
- Drone Analytics
- Financial Management
- Farm Inventory Management
- Others
Global Digital Agriculture Market Regional Analysis/Insights
The digital agriculture market is analysed and market size insights and trends are provided by country, type, company type, designation and applications as referenced above.
The countries covered in the market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Kuwait, Egypt, and rest of Middle East & Africa.
North America is expected to dominate the market due to the rise in the initiatives taken by the government for the adoption of modern agriculture technologies and developed infrastructure. Furthermore, the occurrence of major key players will further boost the growth of the digital agriculture market in the region during the forecast period.
Asia-Pacific is expected to observe a significant amount of growth in the market due to the several initiatives taken by the government in the advancing countries to encourage the application of modern farming technologies. Moreover, the farmers can also get enough knowledge about how to handle and maintain precision farming equipment with the help of an effective administrative structure which is further anticipated to propel the growth of the digital agriculture market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The digital agriculture market also provides you with detailed market analysis for every country growth in expenditure for capital equipment, installed base of different kind of products for digital agriculture market, impact of technology using life line curves and changes in regulatory scenarios and their impact on the digital agriculture market. The data is available for historic period 2010-2020.
Competitive Landscape and Global Digital Agriculture Market Share Analysis
The digital agriculture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies focus related to digital agriculture market.
Some of the major players operating in the digital agriculture market are:
- DTN (U.S.)
- Farmers Edge Inc. (Canada)
- Taranis (U.S.)
- Eurofins Scientific (Luxembourg)
- AgriWebb (Australia)
- Monsanto Company (U.S.)
- Bayer AG (Germany)
- Deere & Company. (U.S.)
- Accenture (Ireland)
- Syngenta AG (Switzerland)
- AgGateway (U.S.)
- CropX inc. (U.S.)
- Farmers Business Network (U.S.)
- BASF SE (Germany)
- DigitalGlobe (U.S.)
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