Global Digital Farming Software Market, By Component (Software, Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity, Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management, Others) - Industry Trends and Forecast to 2031.
Digital Farming Software Market Analysis and Size
Digital farming software is the programmed tools that 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 streamlining production activities. Digital farming software maximizes yield and revenue related to crops and others using data-driven insights.
Data Bridge Market Research analyses that the global digital farming software market, which was USD 5,681.66 million in 2023, is expected to reach USD 15,510.17 million by 2031 and is expected to undergo a CAGR of 13.1% during the forecast period 2024-2031. “Remote sensing” will dominate the technology segment of the market due to its ability to provide real-time, high-resolution data for precision agriculture, enabling farmers to make data-driven decisions and optimize their crop management practices.. 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.
Report Scope and Market 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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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Component (Software, Services), Technology (Remote Sensing, Guidance Technology, Variable Rate Technology, Machine Learning, Wireless Connectivity, Others), Application (Drone Analytics, Precision Farming, Agriculture Robots, Livestock Monitoring, Greenhouse Management, Supply Chain Management, Financial Management, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Bayer AG (Germany), CropX Inc. (U.S.), NETAFIM (a subsidiary of Orbia) (Israel), PrecisionHawk, Inc. (U.S.), eAgroop, Lda (Portugal), EZ Lab srl (Italy), Ag Leader Technology (U.S.), Accenture (Ireland), Infosys Limited (India), FarmFacts GmbH (Germany), Yara (Norway), Luda.Farm AB (Sweden), Granular, Inc. (a subsidiary of Corteva) (U.S.), Trimble Inc. (U.S.), Farmer's Business Network, Inc. (U.S.), DJI (China), Pix4D SA (Switzerland), Agremo (Croatia), Farmers Edge Inc. (Canada), BASF SE (Germany), Raven Industries, Inc. (U.S.), AGCO Corporation (U.S.), Gamaya (Switzerland), DRAGONFLY IT (Canada), BayWa AG (Germany), Syngenta (Switzerland), Hexagon Agriculture (a subsidiary of HEXAGON) (U.S.), Field Margin Ltd. (U.K.), AeroVironment, Inc. (U.S.), Deere & Company (U.S.), Topcon (Japan)
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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 Farming Software Market Dynamics
Driver
- Growing Need for Sustainable Agriculture
The increasing global population and environmental concerns drive the adoption of digital farming software. Farmers are seeking more sustainable and efficient agricultural practices to minimize resource waste and reduce environmental impact, and digital tools offer solutions for achieving these goals.
- Advancements in Sensor and IoT Technologies
The development of advanced sensors and IoT (Internet of Things) technologies has provided real-time data collection and monitoring capabilities. This drives the adoption of digital farming software as it enables precise decision-making based on accurate and timely information.
Opportunity
- Data-Driven Decision-Making
Digital farming software empowers farmers with data analytics, enabling them to make informed decisions. This opportunity allows farmers to optimize resource allocation, crop management, and improve overall productivity.
Restraint
- High Initial Investment
The implementation of digital farming software often requires a significant initial investment in technology, sensors, and software infrastructure. This can be a barrier for smaller and resource-constrained farmers, limiting their ability to adopt these solutions.
Recent Developments
- In September 2020, Raven Industries, Inc. introduced Raven Autonomy for optimizing the operations in ecosystem for precision agriculture farming through VSN connected technology helping the farmer to increase their product portfolio. The company has enhanced its business portfolio through this launch of the product that generates more revenue
- In January 2020, CropX inc. announced acquisition of CropMetrics which is a cloud-based precision irrigation tools provider. Under this acquisition, the company combined CropX and CropMetrics offerings to provide customers with access to a combination of in-soil data, farm management analytics and decision-support tools. This has helped the company to enhance their offerings and their presence in the market
Global Digital Farming Software Market Scope
The digital farming software market is segmented on the basis of component, technology and application. 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.
Components
- Software
- Services
Technology
- Remote Sensing
- Guidance Technology
- Variable Rate Technology
- Machine Learning
- Wireless Connectivity
- Others
Applications
- Drone Analytics
- Precision Farming
- Agriculture Robots
- Livestock Monitoring
- Greenhouse Management
- Supply Chain Management
- Financial Management
- Others
Global Digital Farming Software Market Region Analysis/Insights
The digital farming software market is analyzed and market size information is provided by the country, component, technology and application 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 and be the fastest growing region in market due to the presence of large number of digital farming software providers, rapid adoption of next-generation farming technologies, and increasing focus toward high quality agriculture products.
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...
Competitive Landscape and Global Digital Farming Software Market Share Analysis
The digital farming software market competitive landscape provides details of competitors. 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, and application dominance. The above data points provided are only related to the companies' focus related to the digital farming software market.
Some of the major players operating in the digital farming software market are:
- Bayer AG (Germany)
- CropX Inc. (U.S.)
- NETAFIM (a subsidiary of Orbia) (Israel)
- PrecisionHawk, Inc. (U.S.)
- eAgroop, Lda (Portugal)
- EZ Lab srl (Italy)
- Ag Leader Technology (U.S.)
- Accenture (Ireland)
- Infosys Limited (India)
- FarmFacts GmbH (Germany)
- Yara (Norway)
- Luda.Farm AB (Sweden)
- Granular, Inc. (a subsidiary of Corteva) (U.S.)
- Trimble Inc. (U.S.)
- Farmer's Business Network, Inc. (U.S.)
- DJI (China)
- Pix4D SA (Switzerland)
- Agremo (Croatia)
- Farmers Edge Inc. (Canada)
- BASF SE (Germany)
- Raven Industries, Inc. (U.S.)
- AGCO Corporation (U.S.)
- Gamaya (Switzerland)
- DRAGONFLY IT (Canada)
- BayWa AG (Germany)
- Syngenta (Switzerland)
- Hexagon Agriculture (a subsidiary of HEXAGON) (U.S.)
- Field Margin Ltd. (U.K.)
- AeroVironment, Inc. (U.S.)
- Deere & Company (U.S.)
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