Digital agriculture market is anticipated to grow at a CAGR of 9.6% during the forecast period. Precision farming is an approach to farm management that uses information technology (IT) to ensure that crops and soil receive exactly what they require for optimum health and productivity. The growing adoption of precision farming is pushing market players to offer new solutions and services to their customers which are expected to boost the market growth during the forecast period. For instance, in March 2022, Agribazaar launched a remote sensing crop model to aid in precision farming naturally. Currently, the services are being offered to over three lakh farmers registered with Agribazaar. Further, the Government of India has chosen Agribazaar as one of the partners alongside Microsoft India for its India agri-stack program, which will widely use this technology. The benefits associated with precision farming such as ensuring profitability, sustainability, and protection of the environment are further contributing to the growth of the market.
The global digital agriculture market is segmented based on the component, deployment, and application. Based on the component, the market is segmented into hardware and software & services. Based on the deployment, the market is sub-segmented into the cloud and on-premise. Based on the application, the market is augmented into yield monitoring, livestock monitoring, real-time safety testing, soil monitoring, precision farming, and others including drone analytics and inventory management. The above-mentioned segments can be customized as per the requirements. The cloud-based segment is expected to hold a considerable market share due to the growing adoption of cloud computing across the globe. The factors such as ease of adoption, minimal requirement infrastructure, and easy installation are expected to accelerate the digital agriculture market.
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Market Coverage
- Market number available for – 2022-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Digital Agriculture Market Segmentation
By Component
- Hardware
- Software & Services
By Deployment
- Cloud
- On-Premise
By Application
- Yield Monitoring
- Field Mapping
- Livestock Monitoring
- Real-Time Safety Testing
- Soil Monitoring
- Precision Farming
- Others (Drone Analytics, Inventory Management)
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- AGCO Corp.
- Agriwebb Pty Ltd.
- BASF SE
- Bayer AG
- CNH Industrial America LLC
- Deere & Co.
- DTN, LLC
- Farmers Edge Inc.
- Gameya SA
- Hummingbird Technologies Ltd.
- IBM Corp.
- Microsoft Corp.
- Raven Industries, Inc.
- SAP SE
- Small Robot Co.
- Trimble Inc.
- Yare International ASA
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