Digital Farming Market Scope and Overview 2023:
The Digital Farming Market has emerged as a transformative force in the agricultural industry, leveraging technology to optimize farming practices, increase productivity, and enhance sustainability. Digital farming, also known as precision agriculture, involves the integration of various technologies such as sensors, drones, satellite imagery, and data analytics to collect and analyze real-time data about soil conditions, weather patterns, crop health, and resource utilization. By harnessing this data, farmers can make informed decisions and implement targeted interventions, such as precise irrigation, fertilization, and pest control, to maximize crop yields while minimizing inputs. Additionally, digital farming enables farmers to monitor and manage their operations remotely, reducing labor costs and improving operational efficiency. The market is witnessing the emergence of smart farming solutions that integrate different components of the farming ecosystem, including farm management software, IoT devices, and connectivity platforms. With the global population projected to reach 9.7 billion by 2050, digital farming presents a promising solution to meet the increasing demand for food in a sustainable and efficient manner.
The Digital Farming market is experiencing rapid growth and innovation, revolutionizing traditional farming practices and paving the way for a more data-driven and connected agricultural ecosystem. The integration of Internet of Things (IoT) technologies, big data analytics, and artificial intelligence (AI) algorithms has opened up new possibilities for farmers to optimize their operations and make data-informed decisions. IoT devices, such as soil moisture sensors, weather stations, and livestock trackers, collect real-time data, which is then analyzed by AI algorithms to provide actionable insights and recommendations. Farmers can leverage this information to implement precision farming techniques, such as variable rate seeding, targeted pesticide application, and optimized irrigation, resulting in improved resource management and reduced environmental impact. Furthermore, digital farming solutions enable farmers to enhance traceability and transparency in the food supply chain, addressing consumers’ increasing demand for sustainable and ethically produced food. As the digital farming market continues to evolve, driven by advancements in technology and the need for sustainable agriculture, it holds immense potential to revolutionize the way we grow, manage, and consume food.
According to SNS Insider, the Digital Farming Market size was estimated at US$ 22.12 Bn in 2022, and is expected to reach US$ 58.72 Bn by 2030, with a growing healthy CAGR of 12.98% over the forecast period 2023-2030.
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Major Key Players Analysis Covered in Digital Farming Market Report are listed below:
- Monsanto Company
- Topcon Corporation
- Deere & Company
- AGCO Corporation
- Kubota Corporation
- Hexagon AB
- CNH Industrial N.V.
- Bayer Crop Science Limited
- Agreena
- CLAAS KGaA mbH
- Trimble
- Agleader
- IBM Corporation
- AgEagle Aerial Systems
- Others
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In-depth discussions of significant issues like the industry’s scope, global demand, marketability, profitability, and potential are included in the most recent Digital Farming market research study. Additionally, it assesses each sub-market to offer a more thorough picture of this industry, supporting players in comprehending the opportunities offered. The study literature also explores the effects of the pandemic and offers tactical solutions for effectively reducing market volatility. The competitive landscape section of the study also contains the most recent data on recent partnerships, mergers, and acquisitions as well as the strategies used by the key competitors to help market participants make better decisions.
The global, regional, and overall growth prospects of the Digital Farming industry are all examined in this market study. It also sheds light on the general competitive environment of the global market. The research also contains a dashboard review of key firms, which details their successful marketing strategies, market presence, and most recent developments in both historical and contemporary contexts. The study provides a thorough analysis of the industry, including information on a number of topics including drivers, restrictions, opportunities, and threats. Prior to investing, stakeholders can use this information to help them make educated judgments.
Market Segmentation Analysis
This analysis, which is divided by type, application, and consumption area, details the market size, market features, and Digital Farming market growth. The report also carried out a PESTEL analysis of the market to look into the key driving forces and entry barriers. The study provides information on the most precise revenue predictions for the entire market and its sectors in order to assist industry leaders and new players in this market. This research is intended to help stakeholders improve their understanding of the competitive environment, obtain understanding of how to strengthen the positions of their companies, and create effective go-to-market strategies.
Market Segmentation & Sub-segmentation included are:
by Technology:
- IoT
- Blockchain
- AI/ML
- Big Data & Analytics
by Infrastructure:
- Cloud and Data Processing
- Sensing & Monitoring
- Communication Technology
- Telematics/Positioning
- End-use Components
by Application:
- Smart Crop Monitoring
- Yield Monitoring and Mapping
- oil & Fertilizer Management
- Weather Forecasting
- Smart Irrigation Monitoring System
- Others
COVID-19 Impact Analysis
The Digital Farming market research in-depth investigated the COVID-19 outbreak’s effects on the sector. A thorough risk analysis and industry recommendations for the target market were created in a defined time frame. Additionally, this chapter contrasts the pre- and post-COVID-19 marketplaces.
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In this study, the years considered to estimate the market size of Digital Farming are as follows:
- History Year: 2019-2021
- Base Year: 2022
- Estimated Year: 2023
- Forecast Year 2023 to 2030
Regional Analysis Covered in this report:
- North America [United States, Canada]
- Europe [Germany, France, U.K., Italy, Russia]
- Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]
- Latin America [Mexico, Brazil, Argentina]
- Middle East & Africa [Turkey, Saudi Arabia, UAE]
- Others
COVID-19 Impact Analysis
The Digital Farming market research in-depth investigated the COVID-19 outbreak’s effects on the sector. A thorough risk analysis and industry recommendations for the target market were created in a defined time frame. Additionally, this chapter contrasts the pre- and post-COVID-19 marketplaces.
Major Questions Answered in the Digital Farming Market Report
- What are the main driving forces behind the recent growth of the global market?
- Who are the distributors, merchants, and dealers in the global target market?
- What are the suppliers’ most alluring potential and hazards on the global market?
- What are the opportunities, dangers, and general picture of the Digital Farming market?
- Who are the top manufacturers according to an analysis of sales, revenues, and prices?
Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- COVID-19 Impact Analysis
- Impact of Ukraine- Russia war
- Impact of Ongoing Recession on Major Economies
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Digital Farming Market Segmentation, by Technology
- Digital Farming Market Segmentation, by Infrastructure
- Digital Farming Market Segmentation, by Application
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Conclusion
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