Global Digital Farming Market
The Digital Farming Market size is forecast to exceed USD 13.41 billion by 2027 in terms of remuneration, from USD 4.53 billion in 2019, delivering a CAGR of around 14.5% through the forecast period. The market growth is driven by a decline in arable land, a rapidly expanding population base across the globe, and an associated spike in food demand. Estimates suggest that the global population will increase by 40% and reach 9.6 billion by the end of 2050. To cater to the growing food requirements, the overall food production needs to be doubled in the coming years, as the current production rate and distribution method wouldn’t be sufficient to feed the expanding population base. This is led to a paradigm shift towards the adoption of advanced technology at various levels of farming for optimum crop production.
The report is furnished with the latest market scenario pertaining to the COVID-19 pandemic and its after-effects on the Digital Farming industry and the key segments. The pandemic has disrupted the workflow of the industry and created financial difficulties. The report assesses the complete impact of the pandemic on the market and offers key insights into the market scenario along with trends and demands disruptions. The report also offers an outlook on the market scenario in the forecast timeline.
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Some of the players profiled in the report are Vodafone Group PLC, Trimble Inc., Salt Mobile SA, Accenture, Deere & Company, IBM, Epicor Software Corporation, Hexagon, Monsanto Company, Bayer Cropscience Limited, Syngenta, AgGateway, Aglytix Inc., CropX Inc., Farmers Business Network (FBN), BASF SE, and DigitalGlobe.
The Global Digital Farming Market is segmented as follows:
Segmentation by Component:
Hardware
Software
Others
Segmentation by Application/End-user:
Precision Farming
Live Stock Monitoring
Green House Farming
Others
Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered by the Report:
- Which market segment or sub-segment is expected to grow at the highest CAGR during the forecast timeline?
- What is the forecast valuation of the Digital Farming market?
- Who are the leading players in the industry? What are the weaknesses and strengths of these players?
- What are the strategic business steps and initiatives taken by the key competitors in the industry?
- What region is expected to dominate the market in the forecast period?
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