Growth opportunities in the Digital Farming Market look promising over the next six years. This is mainly due to their remarkable features to farmers and society by aggravating the production volume through sophisticated digital technologies.
Digital Farming Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global digital farming market is forecasted to witness substantial growth in the near future. Several factors responsible for the market growth include the considerable acceleration in the population rate, robust demand for food grains, timber, vegetables, and fruits, accompanied by the constantly shrining fertile land. Also, the fast digitalization along with the ongoing technological expansions in the agricultural sector have encouraged the endorsement of these farming techniques to enhance the quality of yield, reduce the manual efforts, which is thereby promoting the entire productivity of farmers through the implementation of enormous equipment and smart tools. In addition, the augmented inclination towards the green farming methods and the vigorous demand for high-quality crops by the farmers and commercial growers are persuading them to choose this method to serve the mounting need of the consumer. Furthermore, they provide livestock supervision, less investment, and excessive efficiency. However, the high capital cost and insufficient awareness about these methods may curb the digital farming market share.
Application Segment Drivers
On the basis of Application, the market is segmented into precision, livestock, and greenhouse farming. Among these, precision farming is projected to witness a faster CAGR during the forecast period. This is because of the mounting acquisition of these methods due to the rising requirement for optimal crop production with low resources. Additionally, the soaring demand for food has raised market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to expand at a higher CAGR during the forecast period. This is attributed to the growing application of these techniques, primarily in the United States of America and Canada, coupled with the excessive investment in R&D activities to promote the technological enhancements in the farming methods. In addition to this, the establishment of numerous farming management software and equipment will propel market growth.
Digital Farming Market’s leading Manufacturers:
- IBM Epicor Software Corporation
- Deere & Company
- Salt Mobile SA
- Vodafone Group PLC
- Hexagon
- Accenture
- Trimble Inc.
Digital Farming Market Segmentation:
Segmentation by Component
- Hardware
- Software
- Others
Segmentation by Application
- Precision Farming
- Live Stock Monitoring
- Green House Farming
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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