Worldwide Digital Agriculture Market Size [2022-2028] To Reach USD 22.1 Billion at a CAGR of 9.6% | Industry Trends, Share, And Growth Analysis | Vantage Market Research

WASHINGTON, July 25, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Digital Agriculture Market finds that increased vital players and high investment made by developing economies such as China & India are likely to generate demand for the Digital Agriculture Market in the near future. In addition, over the years, the government has taken significant initiatives to enhance and supply aid to the agriculture sector that is providing farming technologies and supportive policies, which is expected to bolster the growth of the Digital Agriculture Market over the projected period. The Global Market revenue was valued at USD 12.8 Billion in 2021.

The Global Digital Agriculture Market size is forecasted to reach USD 22.1 Billion by 2028 and is forecast to expand by exhibiting a Compound Annual Growth Rate (CAGR) of 9.6% during the predicted period; states Vantage Market Research, in a report, titled "Digital Agriculture Market Size, Share & Trends Analysis Report by Type (Crop Monitoring, Artificial Intelligence, Precision Farming), by Applications (Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Digital Agriculture market is predicted to grow at a CAGR of roughly 9.6% during the forecast period.
• The Digital Agriculture market was estimated to be worth roughly USD 12.8 Billion in 2021 and is expected to reach USD 22.1 Billion by 2028; based on primary research.   
• On the basis of region, North America is projected to dominate the worldwide Digital Agriculture market.
  

Market Dynamics:

Drivers:

Increasing Burden on Research and Development (R&D) Regarding Increasing Global Food Supply Demand

The current world population is 8.0 billion as of June 2022, according to the most recent United Nations estimates elaborated by World meter. The population around the world is increasing, and every year as the population increases, to suffice their rising food needs, it is necessary to produce more food and increase agriculture output. The growing knowledge of the benefits of digital agriculture in improving agricultural productivity resulted in a significant increase in the agricultural market. With rising food demand due to population growth, farmers will be forced to use digital agriculture equipment. Digital agriculture helps the farmer to grow crops at maximum production at minimum available resources. Simultaneously, it is necessary to utilize less energy and labor while enhancing environmental land and water management. Due to this, factor digital agriculture drives the market growth.

Technological Improvement

Technological advancement in this sector plays an essential role in supporting market growth as the population increases and farmers have to produce more food with limited resources. In this situation, digital agriculture came ahead with these different tools used while farming, such as satellite guiding, nitrogen management, yield prediction, robotic milking, drones, cloud computing, and hybrid planters, to name a few. These tools are widely used in digital agriculture. These tools help farmers focus and help to monitor the entire field and use GPS to point to the location where extra attention is needed. For example, nitrogen management is done using such tools, which help predict how much nitrogen is left-over in the soil and what quantity is required. Therefore, these tools will allow farmers to make accurate decisions. Hence, this technological advancement is expected to support Digital Agriculture Market growth.

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Segmentation Analysis:

• Type
  • Crop Monitoring
  • Artificial Intelligence
  • Precision Farming
• Applications
  • Field Mapping
  • Crop Scouting
  • Weather Tracking
  • Drone Analytics
  • Financial Management
  • Farm Inventory Management
  • Other Applications
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The Report on Digital Agriculture Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• Historical Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics

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Regional Analysis:

North America Leading Market Growth

North America is expected to dominate the growth of Digital Agriculture Market in 2021. Increasing adoption of newly developed technology and government initiatives to encourage using modified technology are supporting the market growth in this region.

List of Prominent Players in the Digital Agriculture Market:

• DTN (US)
• Farmers Edge Inc. (Canada)
• Taranis (US)
• Eurofins Scientific (Luxembourg)
• Agri Webb (Australia)
• Monsanto Company (US)
• Bayer AG (Germany)
• Deere & Company. (US)
• Accenture (Ireland)
• Syngenta AG (Switzerland)
• Ag Gateway (US)
• CropX Inc. (US)
• Farmers Business Network (US)
• BASF SE (Germany)
• Digital Globe (US)
  

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Digital Agriculture Market Size, Share & Trends Analysis Report by Type (Crop Monitoring, Artificial Intelligence, Precision Farming), by Applications (Field Mapping, Crop Scouting, Weather Tracking, Drone Analytics, Financial Management, Farm Inventory Management), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Recent Developments:

In 2021, CNH Industrial pitched an initiative AGXTEND in Brazil. This is an innovative program in the field of digital agricultural solutions. The company is set to offer the best standards for all stages of the cultivation cycle to benefit all profiles and types of farmers. The management and monitoring solutions are based on drone images. In addition, the program offers services for soil diagnosis. The model for this is such that in which the customer pays for the service provided and not for the types of equipment used.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Digital Agriculture Market?
• How will the Digital Agriculture Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Digital Agriculture Market?      
• What is the Digital Agriculture market drivers and restrictions?   
• What will be the CAGR and size of the Digital Agriculture Market throughout the forecast period?     

This market titled “Digital Agriculture Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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